Three American hedge-fund traders were convicted Monday on all charges of fraud and conspiracy.

Three American hedge-fund traders were convicted Monday on all charges of fraud and conspiracy.

Five of the biggest companies on Obama’s jobs council, General Electric, Citigroup, Intel, Procter & Gamble and DuPont, have been moving their jobs over seas — a shift that’s been going on for the entire Obama presidency for most of these firms. Last year GE effectively avoided 90% of taxes that most American companies are expected to pay. Obama is an international socialist not a national socialist that puts the country first… and keeps murder and money at home. Wouldn’t it be nice to have an honest free enterprise American running America again instead of tax dodgers and wealth destroyers?

Jack Welch said Monday that: Obama gave us a “Global Warming Green energy joke” that gives bureaucrats a license to do stupid things like blow up our oil and gas industries and thus our economy. He said Obama has all piece meal things and no vision or strategy.

Nationally, Obama’s overall approval rating is below 50 percent but public opinion surveys show that a much larger majority disapproves of his handling of the economy and even more believe he has put the economy is in a rut.

Obama should listen to the Clintons:
It’s the economy stupid!
It’s your anti-business policy stupid! End it stupid!
It’s your anti-middle class homeowner, and underwater mortgage 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, pro lazy, pro illegal, pro drug, 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..

World Markets:
Barely a year after Athens was granted a 110 billion Euro bailout package, the EU, the IMF and the European Central Bank are haggling over a second funding deal, while Greece's ruling party is pretending to push band aide measures through parliament. The goal is to pretend their debt rollover is now voluntary so the EU can pretend Greece is not in default.

China increased the reserve requirement ratio, which dictates the amount of cash that banks must set aside, by 0.50 percentage point to 21.5 percent, effectively reducing the amount banks can lend. The ratio has been raised six times this year alone.

Brazil applies the economic brakes of a 12.5% interest rate to slow accelerating inflation.

Many 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 that region.

Gold has peaked for now and high energy prices will be a world wide deflationary threat in the near future.

US Economic Highlights
Past Week Initial
MBA Mortgage Index 06/04 dropped -0.4% again after dropping -4.0% the previous week -
FED's Beige Book Jun says an uncontrolled slow down is coming,
Initial Claims 06/04 up at 427K vs. 422K last week.
Friday
Export Prices ex-ag. May rose 0.5% after rising 1.0% last month, still more than twice the inflation target of 2.5% per year.
Import Prices ex-oil May rose 0.4% after rising 0.6% last month
Treasury Budget deficit for May -$57.6B lower deficit than last month’s -$135.9B

Today
Jun 14 8:30 AM Retail Sales May
Jun 14 8:30 AM Retail Sales ex-auto May
Jun 14 8:30 AM PPI May
Jun 14 8:30 AM Core PPI May
Jun 14 10:00 AM Business Inventories Apr

This week
Jun 15 7:00 AM MBA Mortgage Index 06/10
Jun 15 8:30 AM CPI May
Jun 15 8:30 AM Core CPI May
Jun 15 8:30 AM Empire Manufacturing Jun
Jun 15 9:00 AM Net Long-Term TIC Flows Apr
Jun 15 9:15 AM Industrial Production May
Jun 15 9:15 AM Capacity Utilization May
Jun 15 10:00 AM NAHB Housing Market Index Jun
Jun 15 10:30 AM Crude Inventories 06/11
Jun 16 8:30 AM Initial Claims 06/11 -
Jun 16 8:30 AM Continuing Claims 06/04 -
Jun 16 8:30 AM Housing Starts May
Jun 16 8:30 AM Building Permits May
Jun 16 8:30 AM Current Account Balance Q1-
Jun 16 10:00 AM Philadelphia Fed Jun
Jun 17 9:55 AM Mich Sentiment Jun
Jun 17 10:00 AM Leading Indicators May

Market Outlook June 14, 2011
Dooms day predictions are that the 2009 low needs to be hit again to form a double bottom. Others say the decline will be over by this October.

U.S. stocks rallied early on low volume and then collapsed and ended flat.

The stock market is well below the support averages! On a cash flow (not price basis) it is a lot worse. A new low support at the 2010 low 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 investor’s complacency could soon turn to panic as intermediate resistance levels are close to meltdown. That correlates more with a sharper decline about to happen. There is still just a little fear at this point. Look how high the VIX has to go before the bottom is hit!!
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. Click on the 5yr chart and see full effect of the slowdown. See:
http://www.bloomberg.com/apps/quote?ticker=BDIY:IND

This was Cramer/Lenin/Pravda’s main chart for following China’s growth until it showed world stagnation instead. Obama stops 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 make a stand. Asian markets were up last night. China up 1.1%, Hong Kong down -0.1%, India up 0.2%, and Japan up 1%.

European markets are up this morning in a range of about +0.4% to +1.6% half way through their day.

American markets are up about 0.6% at 7AM