Obama gives American wealth to his new leisure class. 51% of Americans do not share any pain of federal taxes. Obama’s leisure class gets tax refunds instead and $1500 per baby per month on welfare.
Many people should not be in any of the equities markets (stocks, bonds, options, futures, gold etc) and are being slaughtered by volatility in all of them. Recent traders in futures and options have been destroyed by hedge funds selling short. Fools are being conned into buying gold at the highs when socialist America is following Japan into the leftist malaise Jimmy Carter invented based on economic stupidity and stagnation. Economic stupidity is recognized when leftists try to control development by raising the cost of production of things leftists don’t like such as energy, highways, wealth, and research into “the unknown”. Leftists are all “unibombers” at heart fighting the advance of science and technology.
Tyson Foods replaces Labor Day with a Muslim holiday. See:
http://www.snopes.com/politics/soapbox/outrage.asp
Have you ever visited a welfare office? They serve Obama’s new voting block called his leisure class. Most of them were on government assistance themselves and are not much help if you are not one of Obama’s chosen people. Does a middle class honkie ever need to go to a welfare office? Yes honkies go if their mom or dad has a mortgage and cannot break up the estate so their parents have to temporarily go on Title 19 until mom and dad die and the government allows the children to liquidate the estate. Just like the Farm Bureau… the employees in welfare offices distrust and discriminate against honkies so the first thing a honkie needs to do is hire a leftist lawyer.
If TXN is going to pick up so much new business as rumored, why have insiders at TXN recently sold 70% of their shares? Who’s stock gets depressed by untrue rumors like that? That is called research for buying opportunities. That is why hedge funds short stocks on false positive rumors and buy the competitors instead.
It is reported that TD Ameritrade is skimming profits from its customers. When people issue limit buy orders and watch the price begin to drop they discover the order is not immediately executed at the lower price. They try to cancel and replace the order at a the low price and then the order goes through at the higher original price and TD Ameritrade apparently keeps the difference (not the investor). Theoretically TD Ameritrade could execute at the low price for the day and keep the difference if the customer does nothing. It happens on limit orders that are at a “not to exceed price”. But the more honest brokers tell you the price instantaneously (not delayed as long as possible). Schwab and Fidelity firms are observed to execute promptly so they are not even tempted to skim from the accounts of their fiduciary customers.
World Markets:
Aluminum bats, knives and other primitive weapons dominated the "movers and shakers" list of hot-selling items in Britain as riots spread. The British are not even permitted to shoot criminals that break into their homes or set their families on fire. That is the socialist mind set that is afraid to arm citizens because that makes totalitarianism difficult to establish. But vigilante groups are forming as British citizens realize that political leftists are on the side of the looters not the tax paying citizens. Both London and Manchester are now out of control with violent looting, arson and murder as people that have a work ethic have to defend themselves with pots and pans against knives, fire, and stones because the leftists took away the citizens right to bear arms needed to protect themselves. Now some in Britain wish they had guns so they can overthrow the leftists and their leisure class that considers rioting to be their only skill. The British community should be defended from the rapacity and violence of the vicious and idle.
Spain has finally terminated their ludicrous green energy movement that stagnated their economy with subsidies for green energy that costs 4X current energy. All those people have now been laid off and their businesses are bankrupt. When Obama sees the wizard and gets a brain, he will also see the light and return to Kansas after wasting $trillions on his hairbrained economic fantasies. But bad will go to worse as Spain’s hair-brain communist People’s Party threaten to oust the Socialist Party in new November elections. Communist authoritarian Alfredo Pérez Rubalcaba slowly takes over from Zapatero in Spain. This alone could trigger a no-confidence vote by Spain’s bondholders as they flee Spanish investments.
The US may not have a double dip recession but it certainly will be trimming consumption and expenses for the rest of this year. That should be felt by the emerging markets just as though the American economy had stopped.
We believe that for now we have seen the end of the panic that the hedge funds created shorting stocks worldwide. But now they know how to do it in a controlled way and we expect to see it happen again within a year. This market panic was not an economic factor. This market panic was planned using computers to carry it out.
The USSR KGB’s thug Putin is just a leftist clown calling Americans parasites. He represents the mindset of the rioters in Britain and Obama’s leisure class, Obama’s chosen people. The leftists thugs are like the national socialists in their NAZI type hatred of the Jewish people and in their support of Moslem nations that want to eradicate the Jews entirely.
American Economy-
Tuesday
Productivity-Prel Q2 fell -0.3% from 1.8% the first quarter. bad
Unit Labor Costs Q2 rose 2.2% after rising only 0.7% the first quarter. bad
FOMC Rate Decision Aug 0.25% for the next two years per Bernacke. Just jawboning
Today
Aug 10 7:00 AM MBA Mortgage Index 08/06
Aug 10 10:00 AM Wholesale Inventories Jun
Aug 10 10:30 AM Crude Inventories 08/06
Aug 10 2:00 PM Treasury Budget Jul
This Week
Aug 11 8:30 AM Initial Claims 08/06
Aug 11 8:30 AM Continuing Claims 7/30
Aug 11 8:30 AM Trade Balance Jun
Aug 12 8:30 AM Retail Sales Jul - 1.0%
Aug 12 8:30 AM Retail Sales ex-auto Jul
Aug 12 9:55 AM Mich Sentiment Aug
Aug 12 10:00 AM Business Inventories Jun
Market Outlook August 10, 2011
The wise expect a market advance now. Therefore the wise already bought stock of good companies that were driven down in price. An immanent rally could easily recover half the recent losses. But this is not the time for the faint hearted to invest because many technical sell signals have also been issued (probably incorrectly). The hedge funds could chose to drive prices so low that anyone on margin is liquidated. That is about as low as the market could go at any one time and it could happen in one day. Too much cash is on the sidelines and companies would immediately buy their own stock. The future of the world is uncertain under Obama leadership vacuum. We expect a gain and then another drop and then another gain before the end of the year. There may be very little net gain this year unless Obamacare is declared unconstitutional. Then we would begin to see American economic recovery followed by world economic recovery. Obamacare threatens American democracy and liberty with the tyranny of a 51% majority Obama leisure class.
Thomas Jefferson to P. Dupont in 1816 wrote; "The majority oppressing an individual, is guilty of a crime, abuses its strength, and by acting on the law of the strongest breaks up the foundation of society."
James Madison in the Federalist Papers, Feb 5, 1788 wrote to the Massachusetts Convention, "but as a just government protects all alike, it is necessary that the sober and industrious part of the community should be defended from the rapacity and violence of the vicious and idle. A bill of rights, therefore, ought to set forth the purposes for which the compact is made, and serves to secure the minority against the usurpation and tyranny of the majority."
Obama has united the vicious and idle in his new leisure class. Try to stop it and they will be unleashed to burn American cities too. Acorn organizes and transports them wherever Obama wants them. Remember Obama started to use them outside people’s homes and offices during the banking crisis until American’s objected to that form of intimidation. Since then Obama has not used them but he still has them well funded.
You can see the VIX finally hit and exceeded the panic level and is now dropping fast. So the VIX implies this decline is essentially over for some extended time. However the cash flow indicators say we are likely to remain very volatile going forward as cash swings in and out. This market is similar to the flat but volatile market of the 1970’s before Ronald Reagan introduced supply side economics and terminated the ludicrous Jimmy Carter energy retrenchment that stagnated the American economy back then too. Obama is so stupid and delusional that he really believes that telling automakers to produce 50% more efficient cars in three years can happen because he commanded it to happen. It is just pure Obama economic and scientific ignorance. If that could be done it would already have been done because free enterprise thrives on creating better efficiency and better products. Next Obama will command Americans to create jobs but he will never command his leisure class to find a job.
http://finance.yahoo.com/q/bc?s=^VIX&t=1y&l=on&z=m&q=l&c=
The market reversed itself yesterday. May-June of 2010 was like this and we had a good rally after the panic then. We expect a normal advance now of about 50% of the recent decline. Last fall the market began to double what it lost in the May panic. See:
http://finance.yahoo.com/q/ta?s=^NYA&t=1y&l=on&z=l&q=l&p=e50%2Ce100&a=&c=
Recovery the past two years was one of Obama’s big lies as he continued to divide America. Finally they are saying the American economy is not robust. Click on the 5yr chart and see full effect of the slowdown in world dry shipments which shows Obama did nothing at all but destroy hope by forcing Obamacare for his leisure class down the throats of Americans. See:
http://www.bloomberg.com/apps/quote?ticker=BDIY:IND
Stock market update:
Asian Stocks are rose yesterday. China up 0.9%, Hong Kong up 2.3%, India up 1.6%, Taiwan up 3.3%, and Japan up 1.1%.
European markets were down rose about 4% yesterday and are up today by about +0.5% to +4.6%.
American markets futures are down about –0.7% at 7:30 AM EST
It appears we passed the capitulation point of the current decline. Still we expect little net gain this year and next year unless Obamacare for his leisure class is declared unconstitutional. Americans do not want USSR style Obamacare because it is just another Obama leftist lie. Socialist healthcare is far inferior to American healthcare and what is already killing Medicare is Obama’s leisure class getting entitlements to it. They already have free health care because American tradition always helps those in need even though no American ever was entitled to health care or Social Security unless they worked and paid into the system. Obamacare is stupid and destructive as it would be a blank check to Obama’s leisure class. Obamacare must be declared unconstitutional or American becomes just another bankrupt socialist state with no incentives to help others by advancing human knowledge, freedom, compassion, and capabilities.
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