Europe prepares to dump the Greek communists. It is becoming painfully clear that communist states can not be part of the EU if the EU is to survive.

Obama continues his stupid policies as he subverts all world free-market democracies.
Obama has undermined every Middle East government that favored peace or co-existence in the Middle East after they failed to invade Israel in 1967 and kill all the inhabitants. Obama has been continually undermining America with stupid “Nigerian” type solutions that divide and impoverish every nation that tries his recommendations.

Obama should listen to the Clintons:
It’s the economy you are destroying stupid!

Senator Obama was the first presidential candidate ever to use fear mongering when he said during his campaign that America was in a depression the year before the real-estate banking crisis. It was as if he knew the Senate Banking Committee had unleashed extraordinary real estate risk. We personally know of a case of a person that bought a house last year with no money down, who’s only qualification is being of Obama’s ethnic heritage. It was an immaculate landscaped property that is now being run down destroying the entire neighborhood. Obama’s no money down home purchase plan for people who’s only qualification is being of Obama’s ethnic heritage is a racist and stupid real estate requirement from the leftist run Senate Banking Committee! End it stupid racist!

It is your model communist policies that expand leftist unions, welfare, ignorance, inefficiency, and poverty that expands a leftist voting block to overthrow democratic personal liberty everywhere it was tried, stupid! End those policies stupid!

It’s your anti-business policy stupid! End it stupid!
It’s your anti-middle class homeowner, and underwater mortgage operative house arrest stupid! End it stupid!
It’s your job killing, pro union anti American, anti Boeing policy stupid! End it stupid!
It’s your pro Jane Fonda, anti-American patriot policy stupid! End it stupid!
It’s your anti-construction policy stupid. End it stupid!
It’s your “American caused global warming scam” stupid! End it stupid!
It’s your anti-worker, racist pro lazy, pro illegal, pro drug, and pro tax loophole policy stupid! End it stupid!
It’s your welfare state stupid! End it stupid! Make people sweep streets and clean up their garbage for their handouts stupid, like when Clinton made people work for pay in the mid 1990’s.

Trillions of dollars went down the Obama’s toilet bowl using Obama’s trickle up policy. People who by their individual effort produce something people want, those creative people, earn all the wealth naturally rise to the top. Therefore it makes sense that real wealth can only trickle down. Felons, pimps, prostitutes, drug dealers, welfare families, and all people who live from hand to mouth cannot be relied upon to create an economic boom. End it stupid!

The Senate leftists (Rangel, Dodd, Obama etc.) caused the American banking crisis because the risk of American real estate failures rose precipitously when unemployment was as low as 5%. A minor recession was all it took to collapse the real estate market.

World Markets:
Europe prepares to dump the Greek communists. It is becoming painfully clear that communist controlled states can not be part of the EU if the EU is to survive. Even socialist states cannot be allowed to share the Euro with competent EU states. The EU Euro is being used by the lazy and indigent Greeks to enslave the people who want to make the EU a sound self-sustaining force for intellectual strength in the world. Being a slave of the Greeks is not as popular as it was 3000 years ago.

Fear is beginning to grip world markets as the world realizes that the United States of America is led by leftists and racists that cause the financial crisis by using the Senate Banking Commission to force banks and thus the entire real-estate industry to provide free “no questions asked” housing to people who have never saved a nickel and who have no credit record. Those racist and their stupid Obama- Barney Frank regulations are still in place since Obama was a Senator and the racist policy continues to this day for the targeted benefit of people of their particular ethnic heritage. The Supreme Court should adjudicate this when the racists are removed in 2012.

Fear is also gripping the world because China has a housing policy that could be as stupid as Obama’s housing policy and we just do not know what will happen to China now the bubble is popping. If China has a real estate bust it could be long and deep and put the world into a depression. China increased the reserve requirement ratio, which dictates the amount of cash that banks must set aside to 21.5 percent, effectively reducing the amount banks can lend. The ratio has been raised six times this year alone and is intended to end the housing bubble.

Brazil applied the economic brakes of a 12.5% borrowing interest rate.

Many leaders in the Middle East are shameless psychopaths who force their people to live on welfare and study the Koran so that they live worthless lives that they willingly sacrifice for their ignorant and cruel leaders. Obama shamelessly tried to curry their favor and has destabilized all the governments in that region.


US Economic Highlights
Past Week Initial
Retail Sales in May fell -0.2% after rising 0.5% last month, the first decline in 11 months. Very bad
Retail Sales ex-auto May declined to 0.3% from increasing 0.6% last month, Not good
Producer Price Index May rose 0.2% after rising 0.8% last month. OK
Core PPI May rose 0.2% after rising 0.3% last month. OK
Business Inventories Apr increased 0.8% after increasing 1$ last month, Not good
MBA Mortgage Index 06/10 rose 13% after hitting a new low last month
CPI May rose 0.2% and the Core CPI May rose 0.3% or at a 3.6% rate that exceeds the FED 2.5% target.
Empire Manufacturing Jun dropped –7.8 a severe contraction in manufacturing
Net long-term TIC Flows Apr rose to $30.6B, which means foreign countries are still buying up American real estate and assets. It rose 25% this month.
Industrial Production May squeaked out a 1% rise.
Capacity Utilization May remained at 76.7%
NAHB Housing Market Index Jun continued to fall rapidly from 16 last month now to only 13.
Crude Inventories 06/11 shrunk again by over -3.4M meaning gasoline prices are going to rise again.
Initial Claims 06/11 - were a high 414K showing jobs are not being created with Obama’s racist and leftist policies.
Continuing Claims 06/04 held at about 3675K via manipulation of data by the administration leftists.
Housing Starts May rose to 560K in spite of a 20% housing overhang and Building Permits May rose to 612K
Current Account Balance Q1- $119Billion/month deficit rate is up 5% from last month.
Philadelphia Fed Jun showed a contraction of –7.7 after a 3.9 improvement the previous month.
Mich. Sentiment Jun dropped to 71.8 from 74.3 last month. See:
http://www.martincapital.com/chart-pgs/Pg_conco.htm

Leading Indicators May rose 0.8% but it looks like completely phone Obama numbers this time and not worth discussing.

This week’s reports
Jun 21 10:00 AM Existing Home Sales May
Jun 22 7:00 AM MBA Mortgage Index 06/17
Jun 22 10:00 AM FHFA Housing Price Index Apr
Jun 22 10:30 AM Crude Inventories 06/18
Jun 22 12:30 PM FOMC Rate Decision Jun
Jun 22 2:15 PM FOMC Rate Decision Jun
Jun 23 8:30 AM Initial Claims 06/18
Jun 23 8:30 AM Continuing Claims 06/11 -
Jun 23 10:00 AM New Home Sales May
Jun 24 8:30 AM GDP - Third Estimate Q1
Jun 24 8:30 AM GDP Deflator - Third Estimate Q1
Jun 24 8:30 AM Durable Orders May
Jun 24 8:30 AM Durable Orders -ex Transportation May

Market Outlook June 20, 2011
U.S. stocks sank last week on increasing volume.

The stock market is well below the support averages and now testing a major low! On a cash flow (not price basis) it is a lot worse. A new low support at the 2010 low is here but it could easily break that 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 decline says investor’s complacency increased again. That correlates more with a sharper decline about to happen. There is still just very little fear at this point. Look how high the VIX has to go before the bottom is hit! And it is showing more complacency today.
http://finance.yahoo.com/q/bc?s=%5EVIX&t=6m&l=on&z=m&q=l&c=

World trade recovery is a leftist myth. Obama and MSNBC/Pravda have been lying since he got elected. This was Cramer/Lenin/Pravda’s main chart for following China’s growth until it showed world stagnation instead. Click on the 5yr chart and see full effect of the slowdown in world dry shipments. See:
http://www.bloomberg.com/apps/quote?ticker=BDIY:IND

Obama will stop poisoning the world economy with American debt at the end of June. He hates everything America stands for and he would be pleased to have America default for the first time in America’s history. Obama is a banana republic dictator in search of a banana republic…future America under Obama for life.

Asian Stocks were down last night. China down -0.8%, Hong Kong down -0.5%, India down -2%, Taiwan down –1.2%, and Japan 0%.

European markets are down this morning in a range of about –0.7% to –1.9% half way through their day.

American markets are down about -0.5% at 8:00AM