Obama’s “idle and vicious” are erupting on the streets of America.

Obama’s “idle and vicious” are erupting on the streets of America. This happened before the recent “idle and vicious” eruptions in Great Britain. The video, shot in May, shows a woman being attacked in broad daylight as she is walking outside Philadelphia City Hall. A pack of teenage girls attacks her from behind and slams her into the ground, kicking and beating her. Obama is cutting US national defense and federal civil defense funds for police and fire protection jobs while hiring his “chosen people,” to be the federal pat down people at airports. Some call this Obama style racism. During the French “Reign of Terror” the leftists created jobs for the “idle and vicious” by first killing current employees to create vacancies and then filling the vacancies with the new leftists. Obama is just selectively eliminating the jobs of existing employees and then hiring his “chosen people.” It is simple but effective leftist style redistribution of wealth.
http://www.foxnews.com/us/2011/08/17/new-video-surfaces-showing-unprovoked-attack-by-philadelphia-teens/


World Markets:
China’s local governments are struggling to repay their debt and the real-estate bubble bursting may leave banks bankrupt. While valuations on Chinese banks have dropped to the lowest levels since October 2008, Vontobel Asset Management Inc.’s Rajiv Jain said the shares would fall further because the Chinese banking system leverage is still too high and earnings are disappointing.

46% of Spanish youth are now unemployed. Leftist gays to engage in kissing that is synchronized with the Pope’s car as he passes through Madrid when he visits. Of course that will only lead to more hatred of gays by people around the world who respect the Vatican’s policies. The leftist gays infiltrate political and church groups to undermine and assume control. The Republican Log Cabin group is socialist stronghold and a farce. They often succeed as they convert ELCA and other left wing oriented groups to a socialist Obama type agenda. The ELCA has since been losing hundreds of congregations who do not support the gay-socialist agenda over the Bible.

Indian stocks dropped to the lowest in more than 14 months led by banks and software services companies. Rioting is occurring in the streets of India over the corruption in the system of socialism where the politicians require Indian people buy their government jobs and supplement their low government pay with bribes.

It appears James Murdoch and all of his executives knew when the papers were engaged in illegal hacking. Does Murdoch blackmail members of Parliament too? The U.K.’s Guardian destroyed Britain’s best-selling Sunday newspaper by exposing that the Rupert Murdochs tabloid hacked a murder victim’s voicemail and other things.

Germany’s annual growth rate has slowed to 0.5% now. Germany and France cannot afford to bail out Greece, Portugal, Italy, and Spain. Perhaps they will force the troubled countries off the Euro until they meet the original limited deficit spending requirements that were in place when the EURO was established. Remember Germany was the first to violate the GDP debt limit requirement because they were bailing out East Germany. France was next and then the EU discipline broke down completely, “A transfer union where Germany pays for the debt of other countries, but has no access to their tax revenues, would probably be the worst outcome for Germany’s rating,” said a Munich.

The Swiss government and central bank talks about a possible target for the Swiss franc to halt its gains has failed and the Swiss franc is rising again.

American Economy-
Last week
MBA Mortgage Index 08/06 rose +21.7% from +7.1% last month. Excellent
Wholesale Inventories Jun increased 0.6% down from 1.8% last month. Improved
Treasury Budget deficit in Jul -$129.4B less than last month -$165.0B. Great reduction in deficit spending
Initial Claims 08/06 395K down from 400K ..very good
Continuing Claims 7/30 3688K down from 3730K ..very good
Trade Balance Jun -$53.1B up from -$50.2B ..we continue to keep the world humming
Retail Sales up in Jul 0.5% from a 0.1% increase in June.
Retail Sales ex-auto Jul up 0.5% 0.from no improvement in June.
Mich Sentiment Aug 54.9 way down from a low 63.7 in July
Empire NY Manufacturing Aug -7.70 vs -3.76 last month. Getting almost twice as bad
Net Long-Term TIC Flows Jun $3.7B a decline from $23.6B last month showing foreign investment dropping.
NAHB Housing Market Index Aug 15 stabilized at last at 15 Some good housing news for a change.
Housing Starts Jul declined to 604K from 629K.. Very good, there are too many already
Building Permits Jul declined to 597K from 624K.. Very good, same reason
Export Prices ex-ag. Jul increased 0.2% from nothing last month. Demand is up, that’s good
Import Prices ex-oil Jul up 0.2% after declining -0.1% last month. Imports cost more then we buy less
Industrial Production Jul up 0.9% from 0.2% last month. Excellent.
Capacity Utilization Jul 77.5% up from 76.7% last month is consistent with more industrial production i.e. good
Today
Yesterday
MBA Mortgage Index 08/13 improved again by+4.1% after improving +21.7% last month.
Producer Price Index Jul was up a normal 0.2% after deflating -0.4% last month
Core PPI Jul remained a normal 0.4% the same as last month
Crude Inventories 08/13 rose 4.233M after falling -5.225M last week.

Today
Aug 18 8:30 AM Initial Claims 08/13
Aug 18 8:30 AM Continuing Claims 08/6
Aug 18 8:30 AM CPI Jul
Aug 18 8:30 AM Core CPI Jul
Aug 18 10:00 AM Existing Home Sales Jul
Aug 18 10:00 AM Philadelphia Fed Aug
Aug 18 10:00 AM Leading Indicators Jul

Market Outlook August 18, 2011
Oil futures declined 1.8 percent as slowing world economies begin to curb oil demand and deflation becomes a greater threat. The difference between yields on 10- year notes and Treasury Inflation Protected Securities reached a low. That narrowing gap indicates the threat of inflation is getting very low. When it inverts (long-term drops below short term) that says we are in a deflationary period. Gold buyers are going to be taken to the cleaners when investors face the reality that Japan type deflation has arrived, not inflation. Of course many socialist central banks just bought gold. Socialist banks always make that mistake and will sell as gold plummets.

Relatively speaking housing is beginning to look better. It is good for new construction to decline until the overburden of foreclosed ‘Obama liar loan” houses is depleted. We expect housing stocks will actually begin to do well since the banks are finally dealing with Obama’s and Barney Frank’s “liar loans”.

You can see the VIX confirmed the capitulation and smaller second bounce and is now subsiding. Volume has also fallen to pre panic levels
http://finance.yahoo.com/q/bc?s=^VIX&t=1y&l=on&z=m&q=l&c=

We expect a normal advance now of up to 50% of the recent decline. See:
http://finance.yahoo.com/q/ta?s=^NYA&t=5y&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 Americans and destroy the American economy with socialism and corruption. See:
http://www.bloomberg.com/apps/quote?ticker=BDIY:IND

Stock market update:
Asian Stocks were down last night. China down –1.6%, Hong Kong down –1.3%, India down –2.2, Seoul down -1.7%, and Japan down –1.3%.

European markets are down today by about –2.1% to –3.6% half way through their day.

American markets futures are down about –1.4 to –2.15% at 7:30 AM EST

We expect little net recovery or stock market gain this year and next year unless free Obamacare for Obama’s leisure class is declared unconstitutional and his Banking regulations are cut way back closer to the Glass-Steagall Banking Act of 1933. Obama thinks welfare is much better for the “Obama leisure class” than Texas jobs in the fast food industry where there is nothing to rip off and no fringe benefits like copper to remove.