Obama is apparently deliberately destroying the American economy.

Obama is apparently deliberately destroying the American economy.
Peruvian President-elect Ollanta Humala says he wants to strengthen ties with socialist Obama. Peruvian President-elect Ollanta Humala says he is a national socialist not an international socialist as Obama. The difference is the focus. Obama is focusing on destabilizing all the mid east governments that were friendly with the west. Ollanta will focus on the media and opposition groups as Castro and Hugo Chávez did before they declared themselves dictators for life. The difference is that Hitler was a national socialist and Stalin was an international socialist. One has a domestic killing machine the other has a large army to subdue free national democracies.

Where will freedom loving honest working people go if America falls to socialism too? Destroying the American economy while blaming it on freedom loving honest working people who resist nationalization of banks and medicine is what is happening right now in America.

The head of General Motors Co on Tuesday said the U.S. economy is on increasingly unsteady footing, hurt by stubbornly high unemployment and volatile oil prices. "There's a lot of uncertainty about a jobless recovery, how strong is the recovery going to be? " said Daniel Akerson, who is chief executive of GM. He also said the United States must address the issue of its rising federal deficit, and that it would shake global debt markets if the country were to default on its obligations. The U.S. government, which funded the bailout of GM unions still controls the largest block of stock, 32 percent of GM's common shares. Bailout of communist unions and nationalization has been the only Obama priority besides re-election.

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% of “do nothing be happy folk” to do nothing. Basically Obama’s deliberate international socialist type handling of the economy created the housing market fiasco has frozen 40% of the American labor force with roughly 25% of potential working Americans now living on government handouts. He wants to get that up to 50% and guarantee his re-election for the rest of his life. 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. And if you join the Tea Party or resist as this wed site resists you lose your medical treatment and job and become a burden on your family. That is how the USSR and China consolidated their power. 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.

Obama has banking and credit tied up with thousands of pages of new government regulations and communist style controls.

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.
Job openings in the U.S. decreased in April for the first time in three months, showing companies started to lose confidence in the expansion’s durability even before hiring slumped in May. The number of positions waiting to be filled fell by 151,000 to 2.97 million, the fewest since January, the Labor Department said Tuesday. The number of people hired also decreased. The unemployment rate rose to 9.1 percent in May while employers added the fewest workers in eight months, Labor Department data showed last week. Economic growth slowed in the beginning of the year.
Jun 7 Consumer Credit Apr was at $6.3B vs. $6.0B in Feb with 1.2B USSR style manipulation of the statistic.

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 8, 2011
While socialist congressman Weiner shows the world his weenie, Obama is succeeding in tying up and destroying the American economy with government paperwork. The only thing we have to fear is fear itself so he is now heading towards using fear tactics. We must stop his welfare expansion program. Why can’t all the unemployed be required to volunteer and get their welfare and unemployment though the municipalities and companies that hire them? That is what Clinton did. When America was formed you did not vote unless you contributed to America and no felons could vote. Of course under those conditions 50% of Obama’s constancy could not vote.

We are off QE2 and entering the summer period when people sell their stocks and go on a vacation. The US economy continues to tank because, “the main 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 after the Bernacke speech. The question is when will the Obama leftists declare American Capitalism is dead and recommend communist China’s managed economy. The reason for china’s growth rate is because Americans have about 100 times more wealth and 50 times higher annual income. We can grow that fast too after Obama kills the American economy because when you are close to zero GDP any improvement is a 100% or higher growth rate.

The stock market is well below the support! On a cash flow (not price basis) it is a lot worse. A new low support is coming 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 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=%5EVIX&t=1y&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 world 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 down last night. China up 0.2%, Hong Kong down -0.9%, India down -0.6%, and Seoul down –0.8% Taiwan down –0.6%. Japan up 0.1%.

European markets are down this morning in a range of about –1.1% to –1.9% half way through their day.

US pre-market futures are down today at about –0.5%to –0.8% at 7:00AM EST after dropping sharply yesterday after the Bernacke speech.
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