General Electric the former MSNBC/Pravda owner and current industrial advisor to Obama, just ordered 60 non-USA jets from Airbus as part of their indu

General Electric the former MSNBC/Pravda owner and current industrial advisor to Obama, just ordered 60 non-USA jets from Airbus as part of their industry-wide effort to identify non-USA ways to fly. Airbus, the European plane maker, announced the A320 jet deal at the Paris Air Show on Monday. GE, originally an American company only pays 3% taxes on their profits in America. The transaction is worth about $5.5 billion based on list price, though GE often gets discounts and other deals to avoid paying American taxes. While the socialist led company has moved about as many jobs as it can out of the USA and dodges taxes in America the GE president is Obama’s business advisor for creating jobs in America and raising corporate tax revenue. This is a classic example of Obama ineptness, like Obama's hiring a Treasury Secretary and others that dodged their taxes. Under foreign domination GE continues to be one of the largest subsidized USA defense manufacturers and while Obama will not lower the absurdly high American corporate tax rate of 30%, GE dodges the tax and pays only 3%. That is how leftists operate. GE leftist management considers itself smart for firing Americans while hiring foreigners. While GE owned MSNBC/Pravda it was the most outrageous leftist propagand machine in the free world. Obama considers himself smart for choosing the leftist GE president as his key business advisor on the issue of creating American jobs. Obama is becoming a joke. As Clinton would say,

“It’s your leftist tax dodging, job exporting business advisor stupid! Get a business advisor who has a brain stupid!”
It’s your leftist tax dodging, Treasury Secretary stupid! Get one who has a brain stupid!

Obama continues to subvert 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 they were unable to kill all the Israelis. The Muslim Brotherhood is no being radicalized. The Obama disaster is only beginning. Obama has been continually undermining America with “Nigerian” type solutions that divide and impoverish every nation that tries his leftist recommendations.

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

Senator Obama was the first presidential candidate ever to use fear mongering when he said during his presidential campaign that America was in a depression... a year before the real-estate banking crisis. It was as if he knew the Senate Banking Committee had unleashed extraordinary real estate risk upon the world. We know of a specific 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 civil liberties everywhere it was tried, stupid! End those policies stupid!

As the Clinton’s say, “It’s the economy stupid!”
It’s your leftist tax dodging, job exporting business advisor stupid! Get a business advisor who has a brain stupid!
It’s your leftist tax dodging, Treasury Secretary stupid! Get one who has a brain 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 Preside Bush had unemployment was as low as 5%. A minor recession was all it took to collapse the real estate market because more than 30% of mortgages were going to people who could not afford the mortgage payments. The Senate Banking Committee told all lenders they would not have access to Federal backed loans if they asked questions about the applicant’s ability to pay. They were required to accept whatever the applicant said. That is how this last world financial crisis was created. It was intended to help all people of Obama’s ethnic heritage. Obama also gave “his people” ten’s of $billions in reparations in a phony case which claimed past discrimination against farmer’s of his ethnic heritage. The case failed in the court system so Obama and his Senate friends went around the system once Obama was elected.

World Markets:
Concern among investors in the U.S financial sector isn’t so much about the banks’ direct holdings of Greek government debt but about the debt they hold from Greek banks, which in turn hold Greek government debt.

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. 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. The Euro will fall if the Greek communists are allowed to default without any consequences.

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 American 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 stupid Obama- Barney Frank regulations are still in place since Obama was a Senator. The racist policy continues to this day for the targeted benefit of people of Obama’s particular ethnic heritage. The Supreme Court should adjudicate this when the leftist 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
The economic reports of the last three months have been dismal, and worse than the forecasts of Wall Street.

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. Good
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. Bad
Empire Manufacturing Jun dropped –7.8 a severe contraction in manufacturing. Very bad
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. Very bad.
Industrial Production May squeaked out a 1% rise. Good
Capacity Utilization May remained at 76.7%. Overcapacity implies cuts coming.
NAHB Housing Market Index Jun continued to fall rapidly from 16 last month now to only 13. Very bad
Crude Inventories 06/11 shrunk again by over -3.4M meaning gasoline prices are going to rise again. Bad
Initial Claims 06/11 - were a high 414K showing jobs are not being created with Obama’s racist and leftist policies. Bad
Continuing Claims 06/04 held at about 3675K via manipulation of data by the administration leftists. Bad
Housing Starts May rose to 560K in spite of a 20% housing overhang and Building Permits May rose to 612K. Not good. See:
http://www.martincapital.com/chart-pgs/Pg_hous.htm

Current Account Balance Q1- $119Billion/month deficit rate is up 5% from last month. Bad
Philadelphia Fed Jun showed a contraction of –7.7 after a 3.9 improvement the previous month. Very bad.
Mich. Sentiment Jun dropped to 71.8 from 74.3 last month. Bad. See:
http://www.martincapital.com/chart-pgs/Pg_conco.htm

Leading Indicators May rose 0.8% but it looks like completely phony 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 21, 2011
U.S. stocks rose Monday week on extremely low volume. That is a sign the bears pulled back and there were no new bulls. It is a sign the market has a very weak foundation.

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 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 because the VIX is a measure of concern. 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 up last night. China up 1%, Hong Kong up 1.2%, India up 0.3%, and Japan up 1.1%.

European markets are up this morning in a range of about 0.6% to 1.1% half way through their day.

American markets are up about 0.4% at 7:30 AM