China steals American technology. China should be sued so America can regain the money being stolen by the Chinese socialist thieves and pirates.

China steals American technology. China should be sued so America can regain the money being stolen by the Chinese socialist thieves and pirates. Apparently they even broke into our secret military files. Oh No! We hope China knows that Western Powers keep sabotaged plans available for them to copy so we can spy on them without them knowing it. We hope they know Japan stole phony battleship plans before WW2 and the USSR stole supersonic transport plans in the 1960-70’s and Japanese’s ships were easy to capsize and the first USSR supersonic transport exploded on cue at its first Paris Air show. Pray for the Chinese that one of the programs does not cause their Inter Continental Ballistic Missiles to shut down within 12.0273 seconds after launch so that all their atomic bombs fall on China. When we tap into China’s computers they have no way of detecting it. In fact they give us what we need when we let them break into certain computers. It is called retribution. We give them what they deserve
Microsoft Corp.'s revenue in China this year will be about 5% of what it gets in the U.S. even though personal-computer sales in the two countries are almost equal, Chief Executive Steve Ballmer said in remarks that offer new details on the software giant's struggle with piracy. Mr. Ballmer's remarks on China shed fresh light on the damage Microsoft believes piracy is causing it in the world's No. 2 economy. The company has long complained. The CEO said Microsoft's revenue per personal computer sold in China is only about a sixth of the amount it gets in India and that its total revenue in China is less than what it gets in the Netherlands, a country of less than 17 million people.

"We're literally talking about an opportunity that is billions of dollars today" if China's intellectual-property-rights protection were at the level of India's, he said. PC sales in China will be "as big as the U.S. market this year," he said, yet "our revenue in China will be about a twentieth of our revenue in the United States."

New Jersey Governor Chris Christie said he plans to pull his state out of the U.S. Northeast’s carbon market by the end of the year. The 10-state Regional Greenhouse Gas Initiative, a cap-and- trade program that regulates carbon-dioxide emissions, is “nothing more than a tax on electricity, a tax on our residents and on businesses with no discernible effect on our environment,” Christie, a 48-year-old Republican, told reporters in Trenton today. The program, similar to a cap-and-trade system backed by President Barack Obama that failed in Congress last year, requires power plants to pay for carbon dioxide released from their smokestacks. “We remain completely committed to the idea that we have a responsibility to make the environment of our state and world better,” Christie said. “We’re not going to do it by participating in gimmicky programs that don’t work.”

Units of Bank of America Corp. (BAC) and Morgan Stanley (MS) will pay $22.4 million for having improperly foreclosed on active duty soldiers without first obtaining court orders. including some who suffered severe injuries.
The Bank of America unit will pay $20 million to settle a lawsuit from about 160 members of the military between 2006 and 2009, the Justice Department said in a statement today. Morgan Stanley’s Saxon unit will pay $2.35 million for 17 service members from 2006 to 2009. Victims included people who served in Iraq and Afghanistan.

“The men and women who serve our nation in the armed forces deserve, at the very least, to know that they will not have their homes taken from them wrongfully while they are bravely putting their lives on the line on behalf of their country. The foreclosures violated the Service members Civil Relief Act, which was enacted to shield deployed military personnel from financial stress”, said Thomas Perez, the assistant attorney general overseeing the Justice Department’s civil rights division,


Lack of White House bi-partisan leadership is the reason the USA economy is flagging. Obama is trying so hard to get re-elected he is destroying bi-partisan initiative and the USA.

Citigroup Inc. slipped as a report said that the five biggest U.S. banks might face at least $17 billion in civil lawsuits.

Obama welfare is now rising at 40% per year according to FOX News. That includes housing subsidies and food stamps and vote buying. For the first time since the Great Depression, government payoffs to socialists in America exceed tax receipts.

World Markets:
The Greek government, which owns 20 percent of OTE, said May 23 that it might sell its entire holding in the former phone monopoly by the end of the second quarter to help reduce the largest debt ratio in the European Union. It has an option to sell 10 percent to Bonn-based Deutsche Telekom, which already owns a 30 percent stake and consolidates OTE under a shareholder agreement.

Applied Materials Inc., the world’s largest producer of chip-making material, forecast earnings that missed estimates, dropping 2.9 percent in German trading.

U.K. economy grew only 0.5% in first quarter.

The Belarusian ruble weaken by 36 percent versus the dollar yesterday as demand for foreign currency from

Belgium had the outlook on its debt rating lowered to negative at Fitch Ratings, which joined Standard & Poor’s in saying that political deadlock complicates efforts to cut the euro area’s third-highest debt load.
Belgium’s debt load swelled to 96.8 percent of GDP at the end of 2010. That’s the third highest among the 17 nations sharing the euro, behind Greece and Italy

More than a year after European policy makers approved a 750 billion-euro ($1.1 trillion) bailout blueprint to stem the sovereign crisis, bond yields in debt-laden peripheral countries are at record highs and officials are floating plans to extend Greek repayments.
Italian bonds dropped after the nation’s credit-rating outlook was revised downward from stable to negative by Standard & Poor’s on May 20. Yields on 10-year Greek debt rose to a euro-era record, while those on Spanish and Portuguese bonds also climbed.
German bund yields fell to a four-month low as a report showed European services and manufacturing growth slowed in May by more than economists predicted.
Preliminary purchasing managers’ surveys pointed to slower economic growth in the euro zone and in China in the second quarter. Growth in the EU’s dominant service sector also slowed more sharply than expected.

US Economic Highlights
Past Week
May 24 New Home Sales Apr rose to 323K from 301K last month a 7% improvement expected in the spring.
May 25 MBA Mortgage Index 05/20 improved only +1.1% after a +7.8% improvement the previous month.
Durable Orders Apr fell -3.6% after improving 4.1% last month
Durable Orders -ex Transportation Apr fell -1.5% after improvng 2.3% last month
FHFA Housing Price Index Mar rose 0.3% after falling -1.6% last month
Crude Inventories 05/21 were616K after declining -15K last month
GDP - Second Estimate Q1 1.8% unchanged
GDP Deflator - Second Estimate Q1 1.9% unchanged
Initial Claims 05/21 424K up from 409K
Obama is back to phony numbers again. He drops the number this week then when he drops the number again next week he goes back and raises the number back up for this week so people think unemployment is going down.
Continuing Claims 05/14 3690K down from 3711K
Consumer spending cooled in the first quarter more than previously estimated as the jump in food and fuel costs held back the biggest part of the U.S. economy.

Today
May 27 8:30 AM Personal Income Apr
May 27 8:30 AM Personal Spending Apr
May 27 8:30 AM PCE Prices - Core Apr
May 27 9:55 AM Michigan Sentiment - Final May
May 27 10:00 AM Pending Home Sales Mar

Market Outlook May 27, 2011
Yesterday, U.S. stocks still hovering above the 100DMA line

We are off QE2 and entering the summer period when people sell out and go on a vacation. The stock market has broken the lower resistance 50DMA line and we added a new 100DMA that is the current resistance level. If it breaks through the 100DMA we expect a panic. If it bounces back down from the 50DMA it could stay there and continue down for a while. On a cash flow (not price basis) there was no new high after the last breakdown and thus a head and shoulders sell signal formed already in “Cash Flow” and is becoming apparent in price action now as well.
http://finance.yahoo.com/q/ta?s=^NYA&t=6m&l=on&z=m&q=l&p=m20%2Ce50%2Ce100&a=m26-12-9&c=

The VIX says investors are very complacent now and a 100DMA breakdown (within a month) will likely cause a panic.
http://finance.yahoo.com/q/bc?s=%5EVIX&t=1y&l=on&z=m&q=l&c=

World trade recovery is still a political myth. See:
http://www.bloomberg.com/apps/quote?ticker=BDIY:IND
Click on the 3yr chart and see full effect of the slowdown. This was GE/MSNBC/Pravda’s main chart for following China’s growth until it showed stagnation instead.

Asian markets were flat last night. China down –1%, Hong Kong up 1%, India up 1.2%, and Japan down 0.4%.

European markets are up this morning in a range of about 0.2% to 1% half way through their day.

US pre-market futures are flat today at about –0.1% at 7AM EST.