Someone with steak knife can now cause a nuclear meltdown under Obama’s nuclear safety policies.

The Fort Calhoun Nuclear Power Station, 19 miles north of Omaha, was accidentally flooded Sunday by a union operator who ran into the protective berm with his forklift. Obama’s nuclear policy is to destroy the industry in America because socialists blame American waste of energy for floods, tornadoes, earthquakes and other acts of Durga the Anti-golbal warming, anti fat-cat Goddess. Obama’s U.S. Nuclear Regulatory Commission head now uses 8-foot-tall water-filled rubber tubes to hold off floodwaters around American nuclear plants. Someone with steak knife can now cause a nuclear meltdown under Obama’s nuclear safety policies. Two years ago, when Obama was elected he insisted that the plant's operator, the Omaha Public Power District, take these measures to keep the plant safe from floodwaters blamed on former President Bush "We don't believe the plant is posing an immediate threat to the health and safety of the public," Obama’s NRC Chairman Gregory Jaczko said Monday. Parts of the plant outside a turbine building were covered in 2 feet of water.

Obama is intentionally destroying the nuclear, offshore oil and natural gas industries to raise costs of energy so high that solar energy and electric cars look competitive. But unfortunately we can’t afford them without government subsidies. He is stimulating an industry that will collapse. Under Obama the only thing Americans will be able to afford is animal power. We will need to divert farming from human foods to hay for the horses we will need to ride to work.

Billionaire George Soros spends tens of millions each year supporting a range leftist political causes, from drug legalization to buying American judges. Voters in elections select most non-federal judges around the country. Soros has spent millions in an attempt to get more states to replace elections by appointments by a committee of leftists. Supporters say it would allow judges to avoid unnecessary voter scrutiny. But critics say it will create left-wing judges. “The left can’t get their agenda through the legislatures anymore … so they think they can get their agenda through by taking over the courts,” attorney Colleen Pero told FoxNews.com. Pero’s report found that Soros, through his Open Society Institute fund, has given $45 million over the last decade to reshape the judiciary.”


World Markets:
Tear gas is being used to fight rioters in Greece today as a two-day general strike was called. Government workers who do nothing will lose their jobs and pensions. Greece already has a 16% “official unemployment rate.”

Even if Greece had no debt interest payments they are still running a deficit. Therefore if their debt was now forgiven they would in short order just run up another deficit. The Greeks owe $43000 per person in debt. Greece delayed vote on austerity to Wednesday. Obama refuses to cut USA deficit spending. 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.

Illegal Chinese immigration to Europe hit the news this week. Why are so many people fleeing Red China now? Is this a new brain drain or a quiet subversion of free nations by communist and terrorist planted agents? It does not look like a brain drain as these are non-professionals and it is very strange that they have access to exit visas. The problem is showing up first in Paris.


US Economic Highlights
Past Week
This time Obama had them drop last months first two statistics to make this month look better. We will use the original numbers.
Monday
Consumer spending stagnated in May as employment prospects dimmed and inflation rose to 3.6%/ year.
Personal Income May 0.2%, down from 0.4% reported last month.
Jun 27 8:30 AM Personal Spending May –0.1%, down from 0.4% last month
Jun 27 8:30 AM PCE Prices - Core inflation May 0.3% or 3.6%/yr, above the FED 2.5%/yr target level

This week’s coming reports
Jun 28 9:00 AM Case-Shiller 20-city Index Apr
Jun 28 10:00 AM Consumer Confidence Jun
Jun 29 7:00 AM MBA Mortgage Index 06/25
Jun 29 10:00 AM Pending Home Sales May
Jun 29 10:30 AM Crude Inventories 06/25
Jun 30 8:30 AM Initial Claims 06/25
Jun 30 8:30 AM Continuing Claims 06/25
Jun 30 9:45 AM Chicago PMI Jun
Jul 1 9:55 AM Michigan Sentiment - Final Jun
Jul 1 10:00 AM ISM Index Jun
Jul 1 10:00 AM Construction Spending May
Jul 1 3:00 PM Auto Sales Jun
Jul 1 3:00 PM Truck Sales

Market Outlook June 28, 2011
U.S. stocks rose Monday on low volume as sellers tested the strength of buyers. Many workers have stopped putting 401 Plan cash into the hedge funds and are getting out again. A small decline now would break the previous low and likely trigger a sell-off.

The stock market again 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=%2Ce50%2Ce100&a=m26-12-9&c=

The bear market continues. The VIX is a measure of concern. Low VIX correlates with overconfidence and immanent decline and now fear must rise substantially before the current market sell-off can be considered over. Look how high the VIX has to go now before the bottom is hit in the past! The market typically bottoms with the VIX at 28 or higher. VIX now is only at 21 with 15 being complete investor complacency. It is up only 6 points and has 7 more points to go up. It is only half way to a market bottom.
http://finance.yahoo.com/q/bc?s=%5EVIX&t=6m&l=on&z=m&q=l&c=

Obama and MSNBC/Pravda have been lying about recovery 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 this week. 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. The future for America under Obama economics is a banana republic.

Asian Stocks were slightly positive last night. China 0%, Hong Kong up 0.1%, India up 0.4%, and Taiwan down –0.3%, Seoul down –0.4%, and Japan up 0.7%.

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

American markets are flat -0.2% this morning at 7 AM