Obama corruption and misuse of power adversely affects American jobs. Obama has put America under house arrest.

Obama corruption and misuse of power adversely affects American jobs. Obama has put America under house arrest.

Fox news showed that the Obama business advisors such as GE’ president are still having the biggest layoffs and are moving the most jobs overseas. Obama cracked down on Boeing for wanting to move into North Carolina instead of Mexico or India because North Carolina is American and does not force workers to join communist/socialist union shops. Union shops support Obama and Obama illegally miss uses presidential power to line the pockets of socialist supporters. Obama is destroying the American economy using subversion.

Obama should listen to Clinton:
It’s the economy stupid!
It’s your anti-business policy stupid!
It’s your anti-middle class homeowner house arrest stupid!
It’s your job killing pro union anti American policy stupid!
It’s your pro Jane Fonda, anti-American patriot policy stupid!
It’s your anti-construction policy stupid.
It’s your “American caused global warming scam” stupid!
Gates said last month that reductions in the number of troops and their pay and benefits might be needed to avoid cutting welfare for lazy people and the drug culture. Options include dividing the National Guard and Reserves into a strategic reserve and an operational reserve with different pay, training and equipment, Gates said. Another possibility might be moving heavy or infantry brigades into the Guard.

Greenspan prefers the Ryan Plan with no tax increase and all spending cuts but he is scared to death afraid of a default even of one or two days as the risk to the world economy that we do not want to see. This problem he says will last 10 years. He said the education of the next generation and their productivity is far lower than the generation of the cold war, which is retiring. He said the economy could not afford the current spending.

Obama has put America under House arrest. Obama has 20% of Americans unable to sell their homes to move to new jobs and is paying another 20% to do nothing. Basically Obama’s inept Hugo Chávez socialist type handling of the economy created the housing market fiasco has frozen 40% of the American labor force with roughly 20% of potential working Americans now living on government handouts. That is how socialists like it because, the able and all the seniors are then on government handouts where you don’t get anything unless you register with the socialist party and wave your little red flags when they march by. It does not take long before the socialists then get 90% to 99% of the vote and suspend the Constitution and declare their dictatorship for life. Then you know how long their banana republics and Moslem theocracies last… never much more than 50 years before the people are in abject poverty. Then they only exist longer by imprisoning and killing dissidents. The socialists need to continue the recession to destroy American freedoms so that is what Obama is doing. Obama is intentionally ignoring the collapse in housing prices. Obama is intentionally destroying the middle class by taking away deductions and other incentives to get a job and own a house! Instead he gives housing stipends and food stamps so people can get great rental and abandoned housing and food stamps for people on welfare to use to buy steaks or cash at casinos while over 20% of the work force have lost all their money in their house and are now underwater and another 20% have nothing at all.

World Markets:

Portugal’s and Peru’s stock markets plummeted yesterday as socialist took over and plan to default on commitments and subvert freedoms.


US Economic Highlights
Past Week Initial
Continuing Claims 05/21 3711K rose from 3690K after Obama fudge removed
Productivity-Rev. Q1 1.8% up slightly from 1.6%
Unit Labor Costs-Rev. Q1 increased 0.7%
Factory Orders Apr dropped sharply 4.6% to -1.2% from 3.4% last month. This is the biggest decline in over a decade.
Crude Inventories 05/28 2878K rose sharply from 616K
Nonfarm Payrolls May fell to from 244K last week.
Nonfarm Private Payrolls May fell to 83K from 268K last week.
Unemployment Rate May increased to 9.1from 9.0% last week.
Jun 7 3:00 PM Consumer Credit Apr
Jun 8 7:00 AM MBA Mortgage Index 06/04
Jun 8 10:30 AM Crude Inventories 06/03
Jun 8 2:00 PM Fed's Beige Book Jun
Jun 9 8:30 AM Initial Claims 06/04
Jun 9 8:30 AM Continuing Claims 05/28
Jun 9 8:30 AM Trade Balance Apr
Jun 9 10:00 AM Wholesale Inventories Apr
Jun 10 8:30 AM Export Prices ex-ag. May -
Jun 10 8:30 AM Import Prices ex-oil May
Jun 10 2:00 PM Treasury Budget May

Market Outlook June 7, 2011
The problem with Obama policy is that it will cause the type of stagnation that Japan had for twenty years. Obama is keeping rates low not to expand national production but to keep borrowing costs low so that he can increase debt to buy votes and create a massive welfare socialist voting block based on Obama entitlements. He can borrow at low rates now but when Americans throw these fools out and stop borrowing the interest rates will go up and that is what cripples the economy for so long unless you default and become a banana republic over night.

We are off QE2 and entering the summer period when people sell out and go on a vacation. The US economy continues to tank because, “the problem is defaulting mortgages stupid,” and Obama still does not get it! We need to get construction going again, stupid.

U.S. stocks were down again yesterday in a precarious situation realizing adjusting payment schedules will not avoid EU government defaults.

The stock market collapsed well below the support line in just 6 hours yesterday! On a cash flow (not price basis) it is a lot worse.

.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 still very complacent but might be starting to panic. That correlates more with a sharper decline about to happen
http://finance.yahoo.com/q/bc?s=^VIX&t=2y&l=on&z=m&q=l&c=

World trade recovery is a political myth. See:
http://www.bloomberg.com/apps/quote?ticker=BDIY:IND
Click on the 5yr chart and see full effect of the slowdown. This was Cramer/Lenin/Pravda’s main chart for following China’s growth until it showed stagnation instead. Obama is poisoning the world economy with American debt. He hates everything America stands for and he would be pleased to have America to 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 markets were flat last night. China up 0.6%, Hong Kong down -0.4%, India up 0.4%, and Seoul down –0.7%.

European markets are flat this morning in a range of about –0.2% to+0.5% half way through their day.

US pre-market futures are up today at about -0.2% at 7:30AM EST after dropping slightly yesterday after the opening.
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