Langone today said cranky Obama is a nation divider, is disrespectful of his office and is now beyond help because he will not change.

Langone said cranky Obama is a nation divider, is disrespectful of his office and is now beyond help because he will not change. Democranks are cranky people who also happen to be leftist economic and social cranks.

Cranky Obama keeps saying he inherited a huge deficit from Bush. Amazingly enough, a lot of people swallow his BULL. The White House should propose budgets but the US Constitution gives Congress the budget responsibility and the party that controlled Congress since January 2007 is the Democrank Party. Furthermore, the Democranks controlled the budget process for fiscal years 2008, 2009, 2010, and 2011. In 2007 they had to contend with George Bush, which caused them to compromise on spending, when Bush somewhat belatedly got tough on spending increases. But in FY 2009, cranky Nancy Pelosi & cranky Harry Reid bypassed George Bush entirely, passing continuing resolutions to keep government running until cranky Obama could take office. At that time, they passed a massive omnibus spending bill to complete the FY 2009 budgets. And where was cranky Barrack Obama during this time? He was a member of that very Congress that passed all of these massive spending bills, and he signed the omnibus bill as President to complete FY 2009.

The Democranks inherited only the FY 2007 deficit; the last of the Republican budgets needed to end the Clinton Dot.Com recession that started in 2000. That Bush deficit was the lowest in five years, and the fourth straight decline in deficit spending. After that, Barrack Obama and Democrats in Congress took control of spending, and expanded the Bush deficit four-fold before Obama became president. If Obama inherited anything, he inherited most of it from himself. In a nutshell, idiot Obama is saying is he inherited a deficit most of which he and the other Democranks created.

Layoffs and unemployment are on the rise again because Obama is a hopeless socialist idiot and still blames Bush. Mortgages are still being given (no questions asked) to unqualified people as gifts from cranky Obama for people of his ethnic heritage. With Obama’s spreading of taxpayer wealth to his socialist voting block 51% now pay no federal income taxes and feel none of the pain productive Americans feel working for their living not living on government handouts. Cranky Obama and his followers don’t “feel the pain” because they prefer to collect from the government and don’t want to pay taxes themselves. Under communism nobody pays taxes because you don’t get paid for what you produce you are paid for how well you demonstrate for the government dictators. Obama’s support base is made up mostly of the derelicts and tycoons and other sycophants who know how to defraud big unmanageable government and how to avoid paying taxes. He appoints tax cheaters for advisors. The working people of America are being destroyed because that is what socialism does. The cranky cheaters, psychopaths, sycophants and dictators love socialism in all its forms because they want power to rule and inevitably they must destroy and kill the productive and thinking people in order to rule. Look at the past socialist Nazi, USSR and the Cambodian slaughterhouse governments. They all started with great promises of sharing the “stolen national wealth.” The Obama and all the former murdering leftists could never comprehend that the wealth of a nation is in all the people who use their intelligence and work hard, not in one or two percent who earn a lot and then give it all back in philanthropic trusts. Not one rich person was yet been able to take his money with him when he died.

World Markets:

Chinese bullet train suppliers, who helped build the world’s largest bullet-train network in less than a decade, could now struggle to sell equipment overseas after two locomotives collided, killing at least 39 people in China and all China’s trains are now running like snails.

China ordered two of their five fake Apple stores to close. Knockoffs and pirated technology are rampant in China. Stealing and plundering will never allow China to become great because as they become wealthy they will be sued in World Court for their thievery and violations of laws.

World markets continue to worsen and are predicting another world wide recession beginning within six months. The 200 and 100 day moving averages have crossed saying the stock markets are about to drop to recession lows. The USA markets are also getting close to a confirmation of the recession the world is now anticipating. All have head-and shoulder sell formations as well.

Emerging markets ready to plummet. Brazil http://finance.yahoo.com/q/ta?s=%5EBVSP&t=5y&l=on&z=l&q=l&p=e100%2Ce200&a=&c=

Asian markets ready to plummet. China
http://finance.yahoo.com/q/ta?t=5y&l=on&z=l&q=l&p=e100%2Ce200&a=&c=&s=^SSEC
India
http://finance.yahoo.com/q/ta?t=5y&l=on&z=l&q=l&p=e100%2Ce200&a=&c=&s=^BSESN

Europe’s markets ready to plummet. Swiss
http://finance.yahoo.com/q/ta?t=5y&l=on&z=l&q=l&p=e100%2Ce200&a=&c=&s=^SSMI

Past Week
Initial Unemployment Claims 07/16 418K up from 405K last week
Continuing Claims 07/9 3.698K down slightly from 3727K
Leading Indicators Jun 0.3% down from 0.8% no sign of recession
Case-Shiller 20-city housing price Index May fell -4.51% after falling -3.96% last month
Consumer Confidence Jul rose slightly to 59.5 from 58.5 last month
New Home Sales Jun were 312K but down from 319K in May. That is unusually bad for sales.

Yesterday
MBA Mortgage Purchase Index 07/23fell -5.0% after improving +15.5% last month (bad news)
Durable Orders Jun fell -2.1% after improving 2.1% last month (bad news)
Durable Orders -ex Transporation Jun fell 0.1% -0.2% after improving 0.6% last month (bad news)
Crude Inventories 07/23 rose 2.296M after falling -3.727M last month. (Good news)
Fed's Beige Book Jul (nothing left in bag of tricks)

Today
Jul 28 8:30 AM Continuing Claims 07/16
Jul 28 8:30 AM Initial Claims 07/23
Jul 28 8:30 AM Continuing Claims 07/16
Jul 28 10:00 AM Pending Home Sales June
This week
Jul 29 8:30 AM GDP-Adv. Q2
Jul 29 8:30 AM GDP Deflator Q2
Jul 29 8:30 AM Employment Cost Index Q2
Jul 29 9:45 AM Chicago PMI Jul
Jul 29 9:55 AM Michigan Sentiment - Final

Market Outlook July 28, 2011
The problem with cranky Obama socialism is not the business cycle but a fifty-year business depression. It took the USSR and China more than fifty years to realize that perpetual economic depression is the socialist/communist answer to the business cycle of free enterprise. The business cycle occurs because free enterprise advances fast and lazy people who do not continually learn and keep current are rapidly left behind. Lazy people want a socialist economy because the government creates jobs for them such as demonstrating and waving red flags or killing people, or running communist “Cultural Revolutions”. Communist “Cultural revolutions” give the communist pathological thugs the opportunity to spit on and beat the intelligent and few surviving compassionate scientists and artists. American socialist politicians are no different from Greek socialists or Russian socialists and they need to be ejected in the 2012 election.

Some great technology stocks are beaten down at such times as this. The collapse of prices normally rotates through the market and then the recoveries rotate in behind them. So it is recommended we do not buy any high flyers as the market drops but definitely we have a short buying period now. You can see the VIX rising finally. It usually is up to 30 or 40 before a crisis is normally over. That could happen within the week if the Socialist democranks stop being so cranky.
http://finance.yahoo.com/q/bc?s=^VIX&t=1y&l=on&z=m&q=l&c=


The last rally still looks like the second shoulder of a classic head-and-shoulders sell signal. If that is the case there could be a sharp sell off. Perhaps it already occurred and the prices are suspended using futures. See:
http://finance.yahoo.com/q/ta?s=^NYA&t=1y&l=on&z=l&q=l&p=e50%2Ce100&a=&c=

Recovery is one of Obama’s big lies as he continues to divide America. Click on the 5yr chart and see full effect of the slowdown in world dry shipments. Now most of his supporters are quietly admitting Obama has done nothing as president to help the economy. See:
http://www.bloomberg.com/apps/quote?ticker=BDIY:IND

Asian Stocks were down sharply last night. China down -0.5%, Hong Kong up 0.1%, India down –1.2%, and Japan down –1.5%.

European markets are down sharply this morning in a range of about -0.5% to –1.5% half way through their day.

American markets futures are down again today in a range of about -0.1% to -0.3% this morning at 8:30 AM EST