Obama leftist union politics is destroying USA productivity. Leftist Jeffrey Immelt yesterday broke and sided with Boeing against his boss, Obama

Obama leftist union politics is destroying USA productivity. Leftist Jeffrey Immelt yesterday 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.

Moody’s Investors Service said the American government might lose the Aaa credit rating it’s held since 1917. Moody's said it sees a "rising possibility that the statutory debt limit will not be raised on a timely basis, leading to a default on U.S. Treasury debt obligations." Moody's was the first to place the United States' Aaa rating on review for a possible downgrade, which means a negative rating action is now impending. So far in the first nine months of fiscal 2011, which ends Sept. 30, the cumulative deficit is $970.52 billion. Standard & Poor said they might also downgrade their USA rating. Obama could be the first president to destroy the USA credit rating!

It is only leftist executives who don’t like America that move American business to leftist countries. Any good communist would do the same. Think about it, is there one American capitalist who is moving American jobs to socialist countries?

Republicans consider forcing a broad permanent layoff of federal government workers in agencies that are considered unconstitutional (like the energy department and NPR leftist propaganda radio) because there is no constitution right for the FED to take those powers from the people and the individual states.

Brent oil is now over $119/barrel even with the world economy is going nowhere. Energy cost will continue to cause stagnation of world economies just as it did before Ronald Reagan went to supply side economics. That points out a real problem for the leftists. Not only is big government too expensive but leftist stupidity shows up in their hatred for economic development. They like high energy costs because that makes wind mills, and electric cars not look like such stupid corporate investments and they hate cars and highways anyway. They have shut down the American transportation infrastructure since the 1970’s when the Sierra Club and other environmentalists first stopped virtually every highway and railroad initiative by forcing them through already highly developed regions making land and mitigation costs prohibitive and ruining economies causing cost over-runs of 200% to 400% like Boston’s big-dig. Obama rail lines are a joke on towns and quaint villages through the centers of which the Sierra Club would have them run. Ultimately nothing gets built and all the money just gets flushed to Obama's supporters down Obama's Crapper.
World Markets:
Gold and silver back to new highs as socialists and communists 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.

This week
Jul 14 8:30 AM Initial Claims 07/09
Jul 14 8:30 AM Continuing Claims 07/02
Jul 14 8:30 AM Retail Sales Jun
Jul 14 8:30 AM Retail Sales ex-auto Jun
Jul 14 8:30 AM PPI Jun
Jul 14 8:30 AM Core PPI Jun
Jul 14 10:00 AM Business Inventories May
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 14, 2011

Finally the long awaited market correction may have started. Balancing the budget will be very deflationary so the FED is likely to flood the USA with cash again. But if the State and Federal government workers see 25% pay cuts to start, taxpayers will start creating 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=

The recent rise in VIX may show the last business cycle has ended and the Obama decline has begun. But 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.
http://finance.yahoo.com/q/bc?s=%5EVIX&t=1y&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 flat last night. China up 0.5%, Hong Kong up 0.1%, India up 1%, Taiwan down –0.1%, and Japan down 0.3%.

European markets are down sharply this morning in a range of about –0.8% to -1.2% half way through their day.

American markets are flat 0.1% to -0.1% this morning at 7 AM