Both Moody’s Investors Service and Standard & Poor said that Obama could be the first American president to lose the USA’s “Triple A” credit rating America has held since 1917. 1917 happens to also be when the world communist revolution started in the Soviet Union of Socialist States. The socialist red peril thugs then tyrannized all of Eastern Europe in 1945 and Red China in 1949. Within a decade they had stolen and spent all the wealth of the people the reds had oppressed. That is when they started the “Gulags” and various other prison systems and citizen spy systems to throw dissidents in prison. They also started the cold war as American and NATO, SEATO and our other allies began to contain the spread of the gangster leftist governments of socialism who spread the same way Genghis Kahn and Batu Kahn spread across the civilized world by murder and theft of the wealth of the people they murdered. Batu Khan in was the last of the “Yellow Peril” and the German knights in armor at Leipzig stopped him. Batu Kahn slaughtered the knights and the people but the people fought to the bitter end and Batu Khan’s army suffered so many casualties he decided to turn around and take a desk job back in China. Obama Khan is spreading the same way. First Obama Khan’s leftist red peril conquers and then he steals the wealth of the conquered and rewards his leftist red peril followers with “do nothing government jobs”, welfare, and reparations for phony charges “that his followers were oppressed peoples of the US Farm bureau”. Oppressed by the US Farm Bureau??? What a crock of Obama horse manure! The red USSR’s Iron Curtain fell in 1989 and Red China and Russia are now experimenting with capitalism and doing much better.
One presidential candidate thinks the shot heard round the world was fired in New Hampshire and another thinks Paul Revere rang a little bell as he rode warning of the British. But socialist Governor Brown signed a law forcing California schools to have a social studies section on gays and lesbians and what they do. Are the American schools that bad or is it current politicians are so stupid?
It is only leftist executives who don’t like America that move American businesses and jobs to leftist countries. Any good communist /Moslem/socialist would do the same. Think about it, is there one American capitalist who is moving American jobs to socialist countries?
Obama leftist union politics is destroying USA productivity. Leftist Jeffrey Immelt finally broke and sided with Boeing against his boss, Obama, and the leftist NLRB, Obama’s agency in charge of job killing. Obama’s $86 million campaign fundraising is more than raised by all his opponents combined. It is one thing to make millions earning a living but this is an obscene payback to Obama from all the leftists, unions, and ACORN pimp services who got $Billions of taxpayer money from Obama’s stimulus funds. Obama is letting the leftists rob America blind on his watch.
World Markets:
Italian and Spanish government rates rise on speculation of defaults.
Gold and silver back to new highs as socialist and communist politicians continue to loot their countries treasure.
Ireland’s credit rating was just reduced to junk. Disney World may buy Blarney Castle as a fun house. The Greek Parthenon would make a great rock group headquarters. Goldman is ready to offer the Greek Islands as Christmas bonuses this year.
US Economic Highlights
Past Week
Jul 1 10:00 AM Construction Spending May down -0.6% from initially reported 0.4% last month
Employers in the US announced more job cuts.
Nonfarm Payrolls Jun hiring dropped to only 18K from 54K last month. We need 250K to get back to normal
Nonfarm Private Payrolls Jun fell to 57K from 83K last month indicating a 3K drop in government jobs.
Unemployment Rate Jun rose to 9.2% from 9.1% last month.
Wholesale Inventories May rose 1.8% vs. 0.8% last month which is not good
July 12 Trade Balance May deficit rose to -$50.2B from a deficit of -$43.7B last month.
FOMC Minutes Jun 22 The FED minutes indicated they would consider additional stimulus.
MBA Mortgage Index 07/09 declined another -5.1%
MBA Mortgage Purchase Index 07/09 - delayed
Export Prices ex-ag. Jun 0.0% flat
Import Prices ex-oil Jun -0.1% declined for first time in a long time.
Crude Inventories 07/09 -3.124M a large decline from -0.889M last week indicating shortages
Treasury Budget Jun -$43.1B deficit shrunk from -$68.4B last month.
Yesterday
Initial Claims 07/09 405K almost as high as last weeks 418K
Continuing Claims 07/02 3727K worse than last weeks 3681K
Retail Sales Jun edged up only 0.1% signaling a potential slowdown.
Retail Sales ex-auto Jun stagnated at 0.0%, 0.3% worse than last week.
PPI Jun -0.4% went deflationary, not good 0.2%
Core PPI Jun 0.3% core price index is ok 0.2%
Business Inventories May 1.0% rose again, not good 0.8%
This week
Jul 15 8:30 AM CPI Jun
Jul 15 8:30 AM Core CPI Jun
Jul 15 8:30 AM Empire Manufacturing Jul
Jul 15 9:15 AM Industrial Production Jun
Jul 15 9:15 AM Capacity Utilization Jun
Jul 15 9:55 AM Mich Sentiment Jul
Market Outlook July 15, 2011
Finally the long awaited market correction may have started. If the leftist unionized State and Federal government workers see 25% pay cuts to start, taxpayers will start creating real jobs again. Yes, it is the taxpayer that creates jobs as well as pays for all government services. When the VIX peaks above 25 that would be the time to consider investing in stocks and shorting gold and silver. The last rally still looks like the second shoulder of a classic head-and-shoulders sell signal. See:
http://finance.yahoo.com/q/ta?s=%5ENYA&t=6m&l=on&z=m&q=l&p=e50%2Ce100&a=m26-12-9&c=
http://finance.yahoo.com/q/ta?s=%5ENYA&t=3m&l=on&z=m&q=l&p=e50%2Ce100&a=m26-12-9&c=
A relatively low flat VIX has meant that American stock market investors do not sense the full gravity of the $13 Trillion in deficits and the two back to back depressions it will create over the next ten years. The recent slight rise in VIX may now show the last business cycle has ended and the Obama decline has begun. We can look forward to the removal of Obama from office and hope for a reincarnation of a Ronald Reagan type President who does not hate everything America stands for. Obama is a loser and a nation lead by a loser becomes a loser. An army of sheep led by a lion would defeat an army of lions led by a sheep…. Arab Proverb
http://finance.yahoo.com/q/bc?s=%5EVIX&t=1y&l=on&z=m&q=l&c=
http://finance.yahoo.com/q/bc?s=%5EVIX&t=2y&l=on&z=m&q=l&c=
Recovery is one of Obama’s big lies just like his campaign lie that we were in a depression one year before the racist 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
Asian Stocks were mixed last night. China up 0.4%, Hong Kong down -0.3%, India down –0.3%, and Japan up 0.4%.
European markets are down this morning in a range of about 0% to -1% half way through their day.
American markets are flat 0% to 0.3% this morning at 7 AM
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