Obama clearly is a simple minded dictator. For two years he dictated to his controlled congress that passed all his garbage legislation without readi

Obama clearly is a simple minded dictator at heart. For two years he dictated to his controlled congress that passed all his rubish legislation without anyone even reading it. Now Obama refuses to compromise on anything important. Obama thinks a government shutdown will be just the thing to make him look as smart as Bill Clinton. Obama is just stupid enough not to realize that he would become the first and only president to damage the US credit rating.

Obama’s “Fast, Furious, and Incompetent” Mexican operation allegedly armed the Mexican drug cartel for war on Mexican police. The Obama/Holden government is silent now on how convicted felons were used to buy the guns in the operation. A Congressional report accuses Holden/ATF's failed anti-gunrunning program of directly arming Sinaloa Cartel for the war. But Obama/Holden incompetence does not stop there. U.S. taxpayer money meant to cover transportation costs in Afghanistan reportedly has now made its way into Taliban hands through a series of truck subcontractors.

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.

Greece’s credit rating was cut three more steps, this weekend by Moody’s Investors Service, which said the European Union’s rescue for the debt-laden nation would cause substantial losses for investors and amounts to default. Italy and Spain debt is becoming toxic too.

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

Obama job creation highlights:
 Obama health law to shrink US workforce by 800000 as it is phased in - J. Lester Feder
 Cisco Systems plans to cut 15 % or 11,500 of its staff and sell a set-top box factory.
 Hewlett-Packard plans to cut 9000 jobs.
 Micron to cut workforce by 15 % and slash flash output.
 SGI announced layoff of up to 10 % of its workforce.
 Maine company that refurbishes military vehicles may lay off nearly 50%its workers.
 Three people were struck by a car and two others were arrested after a fight broke out at a McDonald's during their National Day of Hiring

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

Today
Jul 26 10:00 AM Case-Shiller 20-city Index May
Jul 26 10:00 AM Consumer Confidence Jul
Jul 26 10:00 AM New Home Sales Jun

This week
Jul 27 7:00 AM MBA Mortgage Purchase Index 07/23
Jul 27 8:30 AM Durable Orders Jun
Jul 27 8:30 AM Durable Orders -ex Transporation Jun
Jul 27 10:30 AM Crude Inventories 07/23
Jul 27 2:00 PM Fed's Beige Book Jul
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
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 26, 2011
Layoffs and unemployment are on the rise again but Obama still blames Bush. Mortgages still being given to unqualified applicants as gifts from Obama for people of his ethnic heritage. With Obama’s spreading of taxpayer wealth to his socialist sychophant voting block 51% now pay no federal income taxes. How do they share the pain?

This could be the week when stock market volatility goes wild as Obama socialists refuse to stop pay-offs to government employee unions and others that are bleeding the economic life out of America. It shows American socialists are no different from Greek socialists or Russian socialists. American socialists are international socialists.

While market complacency is now a very real risk we need to take advantage of the buying opportunities it presents.
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=%5ENYA&t=6m&l=on&z=m&q=l&p=e50%2Ce100&a=m26-12-9&c=
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. 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 0.5%, Hong Kong up 1.3%, India down –1.9%, and Japan down –0.5%.

European markets are mixed this morning in a range of about 0.2% to –0.6% half way through their day.

American markets futures are flat today in a range of about 0.1% to 0.3% this morning at 7:30 AM