Obama is the definition of bad government and the source of stupid conflicting socialist policies killing the American economy.

Obama is the definition of bad government and the source of stupid socialist policies killing the American economy. The Obama method of reporting economic statistics deceives Americans.

40,000 Mexicans died so far at the hands of drug cartel commandos armed after Obama socialists in the Senate authorized their training. The Obama socialists blamed the Mexican slaughter on American individual gun owners. But it was the Senate socialists who authorized the training of the Mexican commandos who then switched sides and joined the drug cartels. This is an illegal immigrant disaster Senate socialists like Obama thought up before Obama even ran for president.

Obama thought he could win the presidency by claiming Bush had created a depression right after Obama announced his candidacy. Never before in American history has there been a candidate irresponsible enough to use the “depression” word to win an election. Then a little later Senator Dodd announced there was a run on a California bank. Soon Obama- Barney-Rangle-Dodd stupidity had world confidence in the American Banking system unraveling. Obama inherited a minor recession and Obama- Barney-Rangle-Dodd turned it into an economic depression. Obama then provided bail out funds for the banks laundering the Mexican drug money. That was when Obama lied and said American individual gun owners were responsible for the Mexican violence and that Americans should lose their right to bear arms. See this web site for what Obama has in store for America if America does not stop the drug cartel invasion of our Border States and the Obama socialists succeed in legalizing drugs. Beware the torture and murder documentation is very graphic.

http://www.uncoverage.net/2011/06/bankers-the-mexican-and-u-s-governments-drug-wars-and-40000-dead-graphic/

Obama supports Iran as the VP of he UN General Assembly. Obama has 22% of the UN’s budget bankrolled by US Taxpayers!
http://www.weeklystandard.com/daily/daily.asp

But Obama says that is OK as long as Iran is committed. Yes, Obama sounds like he needs to be committed too.
http://www.youtube.com/watch?v=1_nbJZ7G_rg

The Obama administration remains clueless after three years of incompetent Obama Czars like the socialist GE CEO who is moving jobs and investments to India, China, and France and undermining the USA defense industry while advising Obama how to create jobs in America. That is an Obama joke on the American people.

The International Energy Agency will have the U.S. and 27 allies release emergency oil stockpiles for the third time in three decades, the largest release in history. The purpose is to punish oil speculators who are driving up oil prices. It is a dilemma for Obama because solar energy in uneconomical and the solar industry will fail unless oil prices are kept high. Obama claims he wants alternative energy and then he turns around and kills it. Again it shows incredible fickle stupidity in the conflicting and destructive policies of the Obama administration. Obama is the definition of bad government and stupid conflicting socialist policies.

The release of 60 million barrels, or 2 million barrels a day of oil within the first 30 days, is coordinated by the IEA. The move comes 15 days after the Organization of Petroleum Exporting Countries met in Vienna and kept production quotas tight and Saudi Arabia did not help amid oil prices above $100 a barrel. High oil prices are a tax on free nations and a great source of income for Moslem terrorists around the world. The Al Quada terrorists are not all black or all white or all anything but they are all Moslems. Name one in Al Quada who is not a Moslem. As a Moslem I would do my best to destroy all the Al Quada leadership just as thousands of Germans in more than 20 assassination attempts tried to kill Hitler. Why are not even a few Moslems in the news willing to commit suicide to kill all the Al Quada leadership? Why are they always blowing up innocent women and children?

Obama continues his stupid economic 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 they were unable to kill all the Israelis. The Muslim Brotherhood is now being radicalized. The Obama disaster is only beginning. Obama has been continually undermining America with stupid “Nigerian” type solutions that divide and impoverish every nation that tries his idiotic leftist recommendations. Now after criticizing others as isolationists he just called for American withdrawal and isolationism.

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

It is Obama’s 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!

With all the due respect Obama, as the Clinton’s say, “It’s the economy stupid!”

It’s your leftist tax dodging, GE 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 claimed “Fat, greedy, energy wasting 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!

World Markets:
Greece is now only days away from a devastating debt default that could spark a financial maelstrom around the world at the same time as the USA debt ceiling is due to be raised. Thousands of Greek socialists and communists still demonstrate in Athens to stop consideration of austerity measures. Private banks have now been warned to prepare for losses because the Dutch and Germans will no longer baby the communist union’s in Greece.

The emerging-market initial public offering (IPO) boom, predicted for Brazil, Russia and India, has fizzled as inflation sends interest rates up, share prices down and prompts companies to scale back or cancel sales. Brazil applied the economic brakes of a 12.5% borrowing interest rate.

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-Rangle-Dodd 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.

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
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.
Existing Home Sales fell 4% in May to 4.8 Million hitting a six-month low in spite of the fact this is usually the peak sales season. Very bad.
MBA Mortgage Index 06/17 fell again -5.9%. Very bad
FHFA Housing Price Index Apr increased 0.8% finally breaking the free fall. Good.
Crude Inventories 06/18 -1.711M still declining and not good for prices.
FOMC Rate Decision Jun is for no change at 0.25%

Yesterday
Initial Claims 06/18 up sharply to 429K from 414K …very bad
Continuing Claims 06/11 up sharply to 3697K from 3675K …very bad. (took off the 20K Obama fudge of last week’s number.
The Obama game is to correct the last week in an unfavorable direction by moving some of the bad news from the current week to the previous week and then report this week better. That is phony because next week he then raises this week's numbers. So the truth can only be found by comparing either consistent uncorrected numbers this week or waiting an extra week and comparing the corrected numbers next week. The Obama method of reporting economic statistics is a way he lies to and deceives Americans and it makes Obama unworthy of any more respect than Breznev or any other former lying Russian communist leader.

New Home Sales May 319K down from 323K …very bad

This week’s reports
GDP - Third Estimate Q1 1.9% vs 1.8% Inflation wiped out the gain and left it at –0.1% real growth.
GDP Deflator - Third Estimate Q1 2.0% vs 1.9% show that due to inflation there was –0.1% real growth. The news did not report this fact again. All the GDP gain was inflation.
The following are 12 month changes and were more than wiped out by 2.5% annual inflation.
See:
http://www.martincapital.com/chart-pgs/Pg_mnord.htm

Durable Orders May 1.9% vs last year with annual inflation of 2.5%.
Durable Orders -ex Transportation May 0.6% from last year. Obama and his propaganda news media pretend things are getting better but from the pervious chart you can see they are lying, The recovery ended and we are slowly drifting back down. We must stop Obama’s trickle up wealth redistribution plan that amounts to pissing on our economy.

Market Outlook June 24, 2011
U.S. stocks fell sharply Thursday on high volume, but then recovered most of the loss.

The stock market confirmed the new bear market trend! On a cash flow (not price basis) it is a lot worse. Looks like the market will now follow the upper limit down in a continuing bear market. See:

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 bear market has begun in earnest. The VIX is a measure of concern. Low VIX correlated with the immanent decline and now fear must rise substantially before the market sell-off is complete. Look how high the VIX has to go now before the bottom is hit! The market typically bottoms with the VIX at 28 or higher.
http://finance.yahoo.com/q/bc?s=%5EVIX&t=6m&l=on&z=m&q=l&c=

World trade recovery has been an Obama leftist myth for almost two years now. Obama and MSNBC/Pravda have been lying since he got elected. This was Cramer/Lenin/Pravda’s main chart for claiming growth until it showed world stagnation instead. Recovery is one of Obama’s big lies just like his campaign lie that we were in a depression one year before the leftists destroyed American real estate and banks by requiring US banks give mortgages to people of Obama’s ethnic heritage who had no visible source of income to make the mortgage payments. 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. But the FED will not reverse the policy until inflation gets much worse. Obama hates everything America stands for and he would be content to blame his American debt default on President Bush. Obama is a banana republic dictator in need of a banana republic…future America under Obama for life.

Asian Stocks were up last night. China up 2.2%, Hong Kong up 1.9%, India up 2.9%, and Taiwan down –0.4% and Japan up 0.9%.

European markets are flat this morning in a range of about –0.2% to 0.4% half way through their day.

American markets are flat this morning at 8 AM