Leftists get angry if you burn the Koran.

Leftists get angry if you burn the Koran. Leftists get angry if you do not burn the Bible. Read George Orwells “1984” for how socialism works. Read Ayn Rand, some one who escaped the USSR. As the world falls back into the socialism that arose with the National and International socialists of the 19th and again in the 20th century, socialists will begin incredible genocide again, as the socialists just love to vent that way. They know spring has arrived in the forests of Eastern Europe, the hills of Turkey, and the rice patties of Asia when the human bones pop out of the soil. Pity Israel if America does not reverse Obama’s trend toward socialism.
http://www.youtube.com/watch?v=ErzxOz3Dzv8&feature=player_embedded#at=194


Social Security and Medicare face an increasingly dismal fiscal future; the federal government reported Friday in its annual review of the two mammoth entitlement programs. The problem is that it fully covers people who never worked and contributed to the program. If Social Security and Medicare went bankrupt medical costs would plummet because doctors and medicine makers have to eat too. Medicare, which now provides health insurance to some 47 million elderly and disabled Americans, could begin running a deficit in 2024, five years earlier than projected last year. When social security was created people lived just two years beyond retirement. Thanks to the programs people now live much longer with expensive programs like state paid new knees and hips and free AIDS medication so that the individuals who take high risks live longer and infect more people until the system goes bankrupt. Social Security, which last year began paying out more in benefits than it collected in taxes, now faces insolvency in 2036, compared to 2037 in last year’s projections.

Here are two of the many many reasons for American deficits and Obama is doing nothing about it. If American health care is so bad why don’t the people stay in their own countries. Do you know one American who pays to have treatment in Britain, Germany, France, Japan or China? We don’t. Yet we get people from all those countries coming for medical treatment in the USA.

http://www.youtube.com/watch?v=bLJxmJZXgNI
http://www.youtube.com/watch?v=U_ZnX9JRo5M&feature=related

Obama celebrates cop killers at the White House. These Obama friends are worse than Rev. Wright is.
http://libertylog.org/?p=2791
http://blog.jetsettingmagazine.com/?p=14311

NLRB joins with European socialists, union communists and OBAMA illegal aliens to demand Boeing nationalization now or face bankruptcy. Boeing is attempting to open a plant in South Carolina but the unions are upset that Boeing is opening a plant in a “right to work” state. Then employees will not be forced to pay a portion of their income to union bosses nor will they be required to tell the leftists how they vote in union elections. The NLRB just said Boeing cannot open the Dreamliner plant in SC. When the government discriminates against states in favor of unions and decides where industry can move that is called nationalization.


World Markets:
German investor confidence declined for a third month in May as faster inflation threatened to curb consumer spending and Europe’s sovereign-debt crisis worsened.
..
Another woman came forward with a similar complaint in Paris against Dominique Strauss-Khan, the socialist head of the International Monetary Fund. The EU appointee, was arrested in NYC for attempted rape of a Sofitel hotel maid. The USA created the IMF and was the IMF head for many years and now the socialists have corrupted the organization. It is time either for the USA to take back control of the IMF or to withdraw all USA funding.

Sen. John Kerry gave Pakistan's army chief a list of "specific demands" relating to Islamic Socialist Pakistan's harboring of Islamic jihadists ahead of meetings that could put an end to nuclear weapons in Pakistan. China has apparently expressed an interest is removing atomic bombs held by certifiably insane socialist Islamists on their border.


US Economic Highlights

Yesterday
Empire Manufacturing May activity plunged to 11.9 from 21.7 last month. Terrible
Net long-term TIC Flows Mar into the USA declined to $24.0B from $26.9B, not good.
NAHB Housing Market Index May was 16 stabilizing at a low of 16.

Today
May 17 8:30 AM Housing Starts Apr
May 17 8:30 AM Building Permits Apr
May 17 9:15 AM Industrial Production Apr
May 17 9:15 AM Capacity Utilization Apr

This week
May 18 7:00 AM MBA Mortgage Index 05/13
May 18 10:30 AM Crude Inventories 05/14
May 18 2:00 PM FOMC Minutes May
May 19 8:30 AM Initial Claims 05/14 -
May 19 8:30 AM Continuing Claims 05/07
May 19 10:00 AM Existing Home Sales Apr
May 19 10:00 AM Philadelphia Fed May
May 19 10:00 AM Leading Indicators

Market Outlook May 17, 2011
The stock market has now broken the lower resistance line. With QE2 ending there is less chance of a bounce. On a cashflow (not price basis) there was no new high after the last breakdown. That is why we are not in at this time.
http://finance.yahoo.com/q/ta?s=%5ENYA&t=6m&l=on&z=m&q=l&p=m20%2Ce50&a=m26-12-9&c=

Wider market swings occur as volatility/risk increases.

Obama does not want to balance the budget now before it gets out of control because it’s the economy stupid! Balancing the budget now would help the economy out of the recession after the 2012 elections but would hurt Obama’s going into the election. But if he is the national socialist megalomaniac some say he is, he will try to spend his way into the election and wants to lose anyway so that the Republican that follows him faces the Greek style social and economic breakdown. If the nationalist socialist cannot get respect then he will seek to look better in history by making the situation much worse for the president that defeats him.

The real threat is that the field of presidential contenders continues to decline. The Newt Gingrich meltdown this week was an attack on the only group that is trying to reverse the American decline into the socialist abyss. This decline in candidate quality is making the American decline more inevitable. It is one thing that respect for the opposition has already vanished but Newt shows even the opposition to socialism is self- destructing.

The influential banking community and unions contribute so much to the $1 Billion Obama wants to raise for the next election of socialists. Come-on $1Billion to elect a socialist president? That is obscene like the first $1 Billion dollar bonus package for an incumbent! That is sick greed and selfishness at its worst.

World Markets
International trade shows that the world economy has still only revived about 25% not the 70% shown by the stock and commodities markets. QE2 is created the current stock market and commodity bubble. That means more than half of the stock market rise from the 2009 lows is unsupportable and could evaporate quickly. See:

http://www.bloomberg.com/apps/quote?ticker=BDIY:IND

Click on the 3yr chart and see the low flat-line forming.

Asian markets were down last night. China up 0.1%, Hong Kong down –0.3%, India down -1.1%, Taiwan down –0.3%, Seoul down –0.1%, and Japan up 0.1%

European markets are down this morning in a range of about 0% to –1% half way through their day.

US pre-market futures are up today about 0.1% at 8 AM EST.