When does the Koran say one should beat one’s wife? Whenever she needs it.
http://www.youtube.com/watch?v=0nUI3TUdFCk&noredirect=1
MSNBC/Pravda seems to have recently purged all commentators who profess either
a belief in the American free enterprise economic system based on the ”Founding Fathers” human liberties, or
who annoy the Obama regime by pointing out the communist-socialist scheme to redistribute international wealth based on a financial liability conjured up from a fraudulent legal scheme based on unscientific “human caused global warming” leftist paranormal feelings.
The cost of health insurance in the US has surged 9% this year, according to a survey of employers, proving claims by the Obama administration that his healthcare legislation would curb costs was just more Obamamerd. Insurance premiums for family health benefits in 2011 jumped to $15,073, according to the Kaiser Family Foundation study. That was three times the modest 3 per cent or less annual increases in the past, and easily outpaced a less than 2 per cent rise in wages and the low 2% inflation rate. This year’s 9 per cent increase in premiums is especially painful for workers and employers struggling through Obama’s deep recession. Obama was in charge 3yrs of the last 10yrs and health care has already doubled and we are in an Obama induced semi-depression.
Obama is a fraud. Obama is employing Federal Agents now as an abuse of federal power. Obama is killing jobs and it is beginning to look like Obama is trying to destabilize the free enterprise systems of the western world. It is clear he hates the English and many of the continental countries because Obama was taught they were imperialists who stole the resources of the primitive and backward peoples of the world. Obama actions cannot possibly be as stupid as they appear… so we must conclude they are deliberate. More and more small businesses are reporting raids by Obama goons like the second raid recently reported on the Gibson Guitar Company raid. They hired 580 employees in the last two years and now they have been shut down.
http://www.google.com/#q=gibson+guitar+raid&hl=en&prmd=imvnsu&source=univ&tbm=vid&tbo=u&sa=X&ei=GgaDTtKUJcLW0QGjrY1z&ved=0CEAQqwQ&bav=on.2,or.r_gc.r_pw.&fp=75ab11c678c82c18&biw=841&bih=844
Phony and incompetent Obama administration climatologists now admit the melting of arctic ice due to humans was grossly overstated as 50% when in fact the data showed it was a statistically insignificant 0.1%. It was a 99.8% error. That is very disturbing and shows once again that the Obama environmentalists who say humans are the cause of global warming are either phony con men or just moron liberals. It means Obama has been destroying the cheap American fossil fuel energy industry for nothing. That Obama mistake has caused the loss of American energy industry jobs and has made America less competitive driving American firms closer to bankruptcy. Obama is the greatest job destroyer the USA has ever seen, worse than hurricane Katrina or 911.
World markets
Germany made a mistake today and listened to the Obama administration and Germany will help bail out Greece yet again. This is an example of making the error of thinking each war is like the last war. The last war was a private sector disaster requiring several institutions to fail and a temporary surge in bank liquidity to heal it. All the dislocations were cause by the corruption of the private sector derivatives market by the Senate Banking Committee Liar Loan mandate to redistribute wealth to people with no means of making loan payments. That US disaster has festered four years and is just beginning to thaw. That was the past war that needed the temporary TARP loans that are being paid back.
But the EU problem is not with private sector liar loan backed mortgages the socialists Obama, Dodd, and Frank saddled the US Housing Market. The EU problem is a sovereign debt problem and the ejection of Greece from the EU is the only way to eliminate that contagion. The communist unions of Greece have corrupted Greece and they cannot be stopped except by allowing them to collapse into their own corruption. That would then be a lesson to Ireland, Portugal, Spain, and Italy to throw out their communists. Portugal’s government recently fell to the communists.
China http://finance.yahoo.com/echarts?s=000001.SS+Interactive#chart3:symbol=000001.ss;range=6m;indicator=volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined
Germany
http://finance.yahoo.com/echarts?s=^GDAXI+Interactive#chart1:symbol=^gdaxi;range=3m;indicator=volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined
The Swiss market http://finance.yahoo.com/echarts?s=^SSMI+Interactive#chart2:symbol=^ssmi;range=2y;indicator=volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined
Emerging markets
http://finance.yahoo.com/echarts?s=^BVSP+Interactive#chart1:symbol=^bvsp;range=2y;indicator=volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined
American Economy-
Last week summary
MBA Mortgage Purchase Index 09/10 up +6.3% after being down -4.9% last month. Great news again for housing.
Sep 16 9:55 AM Mich Sentiment Sep 57.8 up from 55.7 but still very low.
MBA Mortgage Index 09/17 up 0.6% after up +6.3% last month. Very good for housing.
Existing Home Sales Aug up to 5.03M from 4.67M last month. Very good for housing.
FHFA Housing Price Index Jul rose 0.8% following a 0.9% improvement. Great news.
New Home Sales Aug 295K down only slightly from 298K due to a hurricane and floods that shut things down about a week in August.
Case-Shiller 20-city Index Jul improved to -4.11% relative to Jul of 2010 when last month it was -4.52% relative to Jun 2010. It means the annual decline decreased by 0.41%. That means this year July sales improved 0.41% relative to last year. You see that even if Jul sales improved 4%, the way it is reported on an annual basis would be a decline of 0.11% (4%-4.11%). So if you understand that you also know the market makers did not understand that and so they still do not have the housing market on their radar screens but now you do. No investment sector should ever be more than 20% of your holdings and no individual stock should be more than 5%. That is the criteria investors use to take profits when prices rise and buy more when prices decline. We like to stay out of declining sectors until the turn around and we have been saying for a moth that the evidence shows that housing has finally bottomed.
Consumer Confidence Sep 45.4 up slightly from last months 44.5. Obama is the biggest threat now to the economies of the world. Some how our Congress, the EU, and Israel must find a way to quarantine Obama to prevent him from further destroying the free world economies before the American voters can eject him in 2012. That could be accomplished if Obama is ignored and the US congress works to clean up the mess together. If the Senate works against the US House then the Senate will be cleaned up in 2012 along with Obama.
Yesterday
MBA Mortgage Index 09/24 shot up +9.3% compared with a 0.6% improvement last month. Housing continues to improve now.
Durable Orders Aug were down -0.1% while they were up 4.1% last month. Not good!
Durable Ordes ex Transportation Aug down -0.8% while they were up 0.8% last month. Not good!
Crude Inventories 09/24 increased 1.915M after dropping sharply -7.336M last month. Prices are dropping.
This week
Sep 29 8:30 AM Initial Claims 09/24
Sep 29 8:30 AM Continuing Claims 09/17
Sep 29 8:30 AM GDP - Third Estimate Q2
Sep 29 8:30 AM GDP Deflator - Third Estimate Q2
Sep 29 10:00 AM Pending Home Sales Jul
Sep 30 8:30 AM Personal Income Aug
Sep 30 8:30 AM Personal Spending Aug
Sep 30 8:30 AM PCE Prices - Core Aug
Sep 30 9:45 AM Chicago PMI Sep -
Sep 30 9:55 AM Michigan Sentiment - Final Sep
Market Outlook September 29 2011
The commodities were under intense selling pressure. Copper dropped 5.6%. Gold dropped 2.1%, to $1,618 a troy ounce 20% down from the $2000/oz some predicted early last week. Industrial metals suffered the worst. Energy markets fell, too, after weakening energy demand and the dollar picked up strength in late trading. Oil inventories burgeoned to 1.9 million barrels, and gasoline stocks rose to 791,000 barrels putting downward pressure on gasoline prices.
We expect another world wide bull market now that could last three to six months until it becomes apparent that the communist-socialist contagion in Europe is once again out of control. We expect violent communist demonstrations to spread from Greece to Italy and Portugal next when EU liquidity is exhausted and Germany attempts to get Greece to act responsible again. Again Germany will be ignored as irrelevant and the primary enabler of communist-socialist welfare addiction. Until socialist Greece is thrown out of the EU the financial markets will be pounded over and over (with apparent recoveries in between) and the dominoes of the EU will begin to weaken and fall. There will continue to cause large swings in share prices every year, perhaps more than once a year. The contagion of communist-socialist welfare could bring about the fall of the EU with Germany either leaving or collapsing into a communist-national-socialist state.
The good news in the USA is that housing has bottomed and is now recovering. Construction spending appears to have bottomed out, and sales and sales prices are rising again. Remember, America has not capitulated to socialism so America can still get back on the right track but needs to listen to the human rational mind more than the animal heart and certainly much more than to the deranged socialist brain. Human reason is what distinguishes us from the rest of the animal kingdom, the National Socialists (one good example, NAZI) and the International Socialists (another good example, Khmer Rouge).
http://www.youtube.com/watch?v=FxiKkEukWHw
http://www.rottentomatoes.com/m/s21_the_khmer_rouge_killing_machine/
http://www.youtube.com/watch?v=EXxr7N-eseo
The trading range of equities tested the resistance levels of 2010 and they held. We still expect a normal advance of up to at least 50% of the total recent decline. But then it will be time to lighten up on equities again. The neckline is looking more like a head and shoulders than like a bull market correction. But it is not a head-and-shoulders sell signal until or if this recent neckline is broken. If it becomes a head and shoulder formation it means the market could collapse again in a year. See:
http://finance.yahoo.com/q/ta?s=^NYA&t=2y&l=on&z=l&q=l&p=e50%2Ce100&a=&c=
We see a pick up in bulk trade which seems to have bottomed and is improving. Congress needs to fight Obama and stop the high deficit spending that amounts now to socialist vote buying. If Obama is not allowed to further cripple the US economy we believe America will not have a double dip recession. See 1yr chart at:
http://www.bloomberg.com/apps/quote?ticker=BDIY:IND
Stock market update:
Asian Stocks were up last night. China down –1.1%, Hong Kong closed, India up 1.5%, Taiwan up 0.5%, and Japan up 1%.
European markets are up today in a range 0% to 1.2% half way through their day.
.
American market futures are up about 0.5% at 8:30AM EST. US market futures rarely have any predictive accuracy.
Thursday, September 29, 2011
Wednesday, September 28, 2011
Obama is killing jobs and it is beginning to look like Obama is trying to destabilize the free enterprise systems of the western world.
Obama is a fraud. Obama is employing Federal Agents now as an abuse of federal power. Obama is killing jobs and it is beginning to look like Obama is trying to destabilize the free enterprise systems of the western world. It is clear he hates the English and many of the continental countries because Obama was taught they were imperialists who stole the resources of the primitive and backward peoples of the world. Obama actions cannot possibly be as stupid as they appear… so we must conclude they are deliberate.
States pay for Obama’s full year unemployment payment extension. States pay by putting that extension cost exclusively by the back of businesses. That means the more a business employs the more it must pay. Obama loves that kind of tax because the Federal Government is reimbursed by what he considers to be the greedy evil businesses. But it also shows Obama is too stupid to figure out how to create jobs.
The cost of health insurance in the US has surged 9% this year, according to a survey of employers, proving claims by the Obama administration that his healthcare legislation would curb costs was just more Obamamerd. Insurance premiums for family health benefits in 2011 jumped to $15,073, according to the Kaiser Family Foundation study. That was three times the modest 3 per cent or less annual increases in the past, and easily outpaced a less than 2 per cent rise in wages and the low 2% inflation rate. This year’s 9 per cent increase in premiums is especially painful for workers and employers struggling through Obama’s deep recession. Obama was in charge 3yrs of the last 10yrs and health care has already doubled and we are in an Obama induced semi-depression. Yes, stupid Obama said we were in a depression during his campaign. Nobody in the western world ever was stupid enough to use the “D” word since FDR’s Great Depression. That is because fear undermines confidence. We need a president that people can trust not one who people fear because of his abuse of power. More and more small businesses are reporting raids by Obama goons like the second raid recently reported on the Gibson Guitar Company raid. They hired 580 employees in the last two years and now they have been shut down.
http://www.google.com/#q=gibson+guitar+raid&hl=en&prmd=imvnsu&source=univ&tbm=vid&tbo=u&sa=X&ei=GgaDTtKUJcLW0QGjrY1z&ved=0CEAQqwQ&bav=on.2,or.r_gc.r_pw.&fp=75ab11c678c82c18&biw=841&bih=844
Kaiser said that health insurance premiums have soared because we are beginning to see Obama’s changes in preventative care benefits and many companies were now enrolling young adults into corporate health plans because of the law. Goldman Sacks, said the increase was due to the high rate of increase in family coverage, due to a new Obama provision allowing people up to the age of 26 to join their parents’ plan, creating additional costs instead of using the less expensive coverage Universities supply. In the past young people either got a job and were covered or they went to college and got coverage. But Obamamerd is destroying jobs and making inexpensive programs into Cadillac programs for the growing anti-work, be- happy Obama voting block. Liberals find it refreshing to see others on lines waiting for welfare checks because that is how Liberals think they help the world. To Obama that is what good government is all about, corruption, kickbacks, welfare dependency, and kicking back in a chair with his feet up on the desk Abraham Lincoln used to write the Gettysburg Address. MMM mmm mmm, that’s Obamamerd.
World markets
The biggest single financial risk to the World today is that the European situation will spiral out of control. Obama would love to see the “Great Imperialists” all destroyed. Obama is becoming a greater enemy of western civilization than all the maniacs of the Jihads. That is why Israel fears for their existences now, just as Europe and America should. Obama appointees are now attempting to de-stabilize Europe by publicly chiding Europe for not bailing out Greece. Well in the USA we have several states also in very bad fiscal situation and the American people would kick Obama and the Democrats out on their asses if they knew that Obama secretly funneled federal funds into failing states controlled by inept Democrat under the guise of Obama’s jobs creation programs. That money goes into state make-work programs that increase taxes and debt delaying the free market recovery.
The bond markets continue to reflect expectations of certain default on Greek debt. The yield on 1-year Greek government bonds is now above 135%. The damage is already done so it is time for the EU to kick the communist union run Greece out of the EU. The expected recovery rate implied by the yield stands at about 43% of face value and that is highly optimistic. The problem is that communist gangster unions run Greece. That is why Greece never should have been admitted to the EU and needs to exit the EU ASAP. A 2-trillion-euro rescue fund would likely let Greece founder later next year.
Central bankers in Asian nations signaled that global financial-market turmoil diminishes inflation pressures in their economies, making previously anticipated interest-rate increases unlikely this year.
China sliding into recession? http://finance.yahoo.com/echarts?s=000001.SS+Interactive#chart3:symbol=000001.ss;range=6m;indicator=volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined
Has Germany bottomed yet? Choose 2 or 5 years. We would say yes.
http://finance.yahoo.com/echarts?s=^GDAXI+Interactive#chart1:symbol=^gdaxi;range=3m;indicator=volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined
The Swiss market has bottomed. Choose 2 or 5 years http://finance.yahoo.com/echarts?s=^SSMI+Interactive#chart2:symbol=^ssmi;range=2y;indicator=volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined
Emerging markets are in recovery.
http://finance.yahoo.com/echarts?s=^BVSP+Interactive#chart1:symbol=^bvsp;range=2y;indicator=volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined
American Economy-
Last week summary
MBA Mortgage Purchase Index 09/10 up +6.3% after being down -4.9% last month. Great news again for housing.
Core CPI Aug remained constant at 0.2%… no inflation
Sep 16 9:55 AM Mich Sentiment Sep 57.8 up from 55.7 but still very low.
MBA Mortgage Index 09/17 up 0.6% after up +6.3% last month. Very good for housing.
Existing Home Sales Aug up to 5.03M from 4.67M last month. Very good for housing.
Initial Claims 09/17 were 423K down from 428K. Good news
FHFA Housing Price Index Jul rose 0.8% following a 0.9% improvement. Great news.
Leading Indicators Aug rose 0.3 following a 0.5% improvement in July still a good 6 month forward indicator.
New Home Sales Aug 295K down only slightly from 298K due to a hurricane and floods that shut things down about a week in August.
Yesterday
Case-Shiller 20-city Index Jul improved to -4.11% relative to Jul of 2010 when last month it was -4.52% relative to Jun 2010. It means the annual decline decreased by 0.41%. That means this year July sales improved 0.41% relative to last year. You see that even if Jul sales improved 4%, the way it is reported on an annual basis would be a decline of 0.11% (4%-4.11%). So if you understand that you also know the market makers did not understand that and so they still do not have the housing market on their radar screens but now you do. No investment sector should ever be more than 20% of your holdings and no individual stock should be more than 5%. That is the criteria investors use to take profits when prices rise and buy more when prices decline. We like to stay out of declining sectors until the turn around and we have been saying for a moth that the evidence shows that housing has finally bottomed.
Consumer Confidence Sep 45.4 up slightly from last months 44.5. Obama is the biggest threat now to the economies of the world. Some how our Congress, the EU, and Israel must find a way to quarantine Obama to prevent him from further destroying the free world economies before the American voters can eject him in 2012. That could be accomplished if Obama is ignored and the US congress works to clean up the mess together. If the Senate works against the US House then the Senate will be cleaned up in 2012 along with Obama.
This week
Sep 28 7:00 AM MBA Mortgage Index 09/24
Sep 28 8:30 AM Durable Orders Aug
Sep 28 8:30 AM Durable Ordes ex Transportation Aug
Sep 28 10:30 AM Crude Inventories 09/24
Sep 29 8:30 AM Initial Claims 09/24
Sep 29 8:30 AM Continuing Claims 09/17
Sep 29 8:30 AM GDP - Third Estimate Q2
Sep 29 8:30 AM GDP Deflator - Third Estimate Q2
Sep 29 10:00 AM Pending Home Sales Jul
Sep 30 8:30 AM Personal Income Aug
Sep 30 8:30 AM Personal Spending Aug
Sep 30 8:30 AM PCE Prices - Core Aug
Sep 30 9:45 AM Chicago PMI Sep -
Sep 30 9:55 AM Michigan Sentiment - Final Sep
Market Outlook September 28 2011
In two days the stock markets have risen all the way to the bottom where they started their tumble last week. Until socialist Greece is thrown out of the EU the financial markets will be pounded over and over and the dominoes of the EU will begin to fall. There will continue to cause large swings in share prices.
It is good news in the USA is that housing has bottomed and is now moving up. Construction spending appears to have bottomed out, and sales and sales prices are rising again even if MSNBC/Jim Cramer/Pravda can’t do the math.
The trading range of equities tested the resistance levels of 2010 and held. We still expect a normal advance of up to at least 50% of the total decline. But then it will be time to lighten up on equities again. The neckline is more like a head and shoulders than like a bull market correction. But it is not a head-and-shoulders sell signal until or if this recent neckline is broken. See:
http://finance.yahoo.com/q/ta?s=^NYA&t=2y&l=on&z=l&q=l&p=e50%2Ce100&a=&c=
We see a pick up in bulk trade which seems to have bottomed and is improving. If Obama is not allowed to further cripple the US economy we believe America will not have a double dip recession. See 1yr chart at:
http://www.bloomberg.com/apps/quote?ticker=BDIY:IND
Stock market update:
Asian Stocks were mixed last night. China down -1%, Hong Kong down -0.7%, India down –0.5%, Taiwan up 0.8%, and Japan up 0.1%.
European markets are mixed in a range –0.5% to 0.5% half way through their day. This excludes outliers.
.
American market futures are up about 0.3% at 8:30AM EST.
States pay for Obama’s full year unemployment payment extension. States pay by putting that extension cost exclusively by the back of businesses. That means the more a business employs the more it must pay. Obama loves that kind of tax because the Federal Government is reimbursed by what he considers to be the greedy evil businesses. But it also shows Obama is too stupid to figure out how to create jobs.
The cost of health insurance in the US has surged 9% this year, according to a survey of employers, proving claims by the Obama administration that his healthcare legislation would curb costs was just more Obamamerd. Insurance premiums for family health benefits in 2011 jumped to $15,073, according to the Kaiser Family Foundation study. That was three times the modest 3 per cent or less annual increases in the past, and easily outpaced a less than 2 per cent rise in wages and the low 2% inflation rate. This year’s 9 per cent increase in premiums is especially painful for workers and employers struggling through Obama’s deep recession. Obama was in charge 3yrs of the last 10yrs and health care has already doubled and we are in an Obama induced semi-depression. Yes, stupid Obama said we were in a depression during his campaign. Nobody in the western world ever was stupid enough to use the “D” word since FDR’s Great Depression. That is because fear undermines confidence. We need a president that people can trust not one who people fear because of his abuse of power. More and more small businesses are reporting raids by Obama goons like the second raid recently reported on the Gibson Guitar Company raid. They hired 580 employees in the last two years and now they have been shut down.
http://www.google.com/#q=gibson+guitar+raid&hl=en&prmd=imvnsu&source=univ&tbm=vid&tbo=u&sa=X&ei=GgaDTtKUJcLW0QGjrY1z&ved=0CEAQqwQ&bav=on.2,or.r_gc.r_pw.&fp=75ab11c678c82c18&biw=841&bih=844
Kaiser said that health insurance premiums have soared because we are beginning to see Obama’s changes in preventative care benefits and many companies were now enrolling young adults into corporate health plans because of the law. Goldman Sacks, said the increase was due to the high rate of increase in family coverage, due to a new Obama provision allowing people up to the age of 26 to join their parents’ plan, creating additional costs instead of using the less expensive coverage Universities supply. In the past young people either got a job and were covered or they went to college and got coverage. But Obamamerd is destroying jobs and making inexpensive programs into Cadillac programs for the growing anti-work, be- happy Obama voting block. Liberals find it refreshing to see others on lines waiting for welfare checks because that is how Liberals think they help the world. To Obama that is what good government is all about, corruption, kickbacks, welfare dependency, and kicking back in a chair with his feet up on the desk Abraham Lincoln used to write the Gettysburg Address. MMM mmm mmm, that’s Obamamerd.
World markets
The biggest single financial risk to the World today is that the European situation will spiral out of control. Obama would love to see the “Great Imperialists” all destroyed. Obama is becoming a greater enemy of western civilization than all the maniacs of the Jihads. That is why Israel fears for their existences now, just as Europe and America should. Obama appointees are now attempting to de-stabilize Europe by publicly chiding Europe for not bailing out Greece. Well in the USA we have several states also in very bad fiscal situation and the American people would kick Obama and the Democrats out on their asses if they knew that Obama secretly funneled federal funds into failing states controlled by inept Democrat under the guise of Obama’s jobs creation programs. That money goes into state make-work programs that increase taxes and debt delaying the free market recovery.
The bond markets continue to reflect expectations of certain default on Greek debt. The yield on 1-year Greek government bonds is now above 135%. The damage is already done so it is time for the EU to kick the communist union run Greece out of the EU. The expected recovery rate implied by the yield stands at about 43% of face value and that is highly optimistic. The problem is that communist gangster unions run Greece. That is why Greece never should have been admitted to the EU and needs to exit the EU ASAP. A 2-trillion-euro rescue fund would likely let Greece founder later next year.
Central bankers in Asian nations signaled that global financial-market turmoil diminishes inflation pressures in their economies, making previously anticipated interest-rate increases unlikely this year.
China sliding into recession? http://finance.yahoo.com/echarts?s=000001.SS+Interactive#chart3:symbol=000001.ss;range=6m;indicator=volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined
Has Germany bottomed yet? Choose 2 or 5 years. We would say yes.
http://finance.yahoo.com/echarts?s=^GDAXI+Interactive#chart1:symbol=^gdaxi;range=3m;indicator=volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined
The Swiss market has bottomed. Choose 2 or 5 years http://finance.yahoo.com/echarts?s=^SSMI+Interactive#chart2:symbol=^ssmi;range=2y;indicator=volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined
Emerging markets are in recovery.
http://finance.yahoo.com/echarts?s=^BVSP+Interactive#chart1:symbol=^bvsp;range=2y;indicator=volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined
American Economy-
Last week summary
MBA Mortgage Purchase Index 09/10 up +6.3% after being down -4.9% last month. Great news again for housing.
Core CPI Aug remained constant at 0.2%… no inflation
Sep 16 9:55 AM Mich Sentiment Sep 57.8 up from 55.7 but still very low.
MBA Mortgage Index 09/17 up 0.6% after up +6.3% last month. Very good for housing.
Existing Home Sales Aug up to 5.03M from 4.67M last month. Very good for housing.
Initial Claims 09/17 were 423K down from 428K. Good news
FHFA Housing Price Index Jul rose 0.8% following a 0.9% improvement. Great news.
Leading Indicators Aug rose 0.3 following a 0.5% improvement in July still a good 6 month forward indicator.
New Home Sales Aug 295K down only slightly from 298K due to a hurricane and floods that shut things down about a week in August.
Yesterday
Case-Shiller 20-city Index Jul improved to -4.11% relative to Jul of 2010 when last month it was -4.52% relative to Jun 2010. It means the annual decline decreased by 0.41%. That means this year July sales improved 0.41% relative to last year. You see that even if Jul sales improved 4%, the way it is reported on an annual basis would be a decline of 0.11% (4%-4.11%). So if you understand that you also know the market makers did not understand that and so they still do not have the housing market on their radar screens but now you do. No investment sector should ever be more than 20% of your holdings and no individual stock should be more than 5%. That is the criteria investors use to take profits when prices rise and buy more when prices decline. We like to stay out of declining sectors until the turn around and we have been saying for a moth that the evidence shows that housing has finally bottomed.
Consumer Confidence Sep 45.4 up slightly from last months 44.5. Obama is the biggest threat now to the economies of the world. Some how our Congress, the EU, and Israel must find a way to quarantine Obama to prevent him from further destroying the free world economies before the American voters can eject him in 2012. That could be accomplished if Obama is ignored and the US congress works to clean up the mess together. If the Senate works against the US House then the Senate will be cleaned up in 2012 along with Obama.
This week
Sep 28 7:00 AM MBA Mortgage Index 09/24
Sep 28 8:30 AM Durable Orders Aug
Sep 28 8:30 AM Durable Ordes ex Transportation Aug
Sep 28 10:30 AM Crude Inventories 09/24
Sep 29 8:30 AM Initial Claims 09/24
Sep 29 8:30 AM Continuing Claims 09/17
Sep 29 8:30 AM GDP - Third Estimate Q2
Sep 29 8:30 AM GDP Deflator - Third Estimate Q2
Sep 29 10:00 AM Pending Home Sales Jul
Sep 30 8:30 AM Personal Income Aug
Sep 30 8:30 AM Personal Spending Aug
Sep 30 8:30 AM PCE Prices - Core Aug
Sep 30 9:45 AM Chicago PMI Sep -
Sep 30 9:55 AM Michigan Sentiment - Final Sep
Market Outlook September 28 2011
In two days the stock markets have risen all the way to the bottom where they started their tumble last week. Until socialist Greece is thrown out of the EU the financial markets will be pounded over and over and the dominoes of the EU will begin to fall. There will continue to cause large swings in share prices.
It is good news in the USA is that housing has bottomed and is now moving up. Construction spending appears to have bottomed out, and sales and sales prices are rising again even if MSNBC/Jim Cramer/Pravda can’t do the math.
The trading range of equities tested the resistance levels of 2010 and held. We still expect a normal advance of up to at least 50% of the total decline. But then it will be time to lighten up on equities again. The neckline is more like a head and shoulders than like a bull market correction. But it is not a head-and-shoulders sell signal until or if this recent neckline is broken. See:
http://finance.yahoo.com/q/ta?s=^NYA&t=2y&l=on&z=l&q=l&p=e50%2Ce100&a=&c=
We see a pick up in bulk trade which seems to have bottomed and is improving. If Obama is not allowed to further cripple the US economy we believe America will not have a double dip recession. See 1yr chart at:
http://www.bloomberg.com/apps/quote?ticker=BDIY:IND
Stock market update:
Asian Stocks were mixed last night. China down -1%, Hong Kong down -0.7%, India down –0.5%, Taiwan up 0.8%, and Japan up 0.1%.
European markets are mixed in a range –0.5% to 0.5% half way through their day. This excludes outliers.
.
American market futures are up about 0.3% at 8:30AM EST.
Tuesday, September 27, 2011
What service did Senator Pelosi and the California Democratic Party provide for Solyndra?
What service did Senator Pelosi and the California Democratic Party provide for Solyndra? Solyndra stole $535 million dollars of taxpayer money which it spent on one of Obama’s green job creation projects which was in the red from the start and just laid off over 1000 workers.
Financial firms have announced more than 120,000 job cuts this year. Bank of America Corp., the biggest U.S. lender by assets, said Sept. 12 it also will eliminate another 30,000 jobs after being attacked directly and repeatedly by Obama and the Democratic Party for revealing that the largest American bank was coerced by the Obama Administration into bailing out Merrill Lynch and Countrywide (the biggest corrupt Dodd-Frank liar loan mortgage dealer in the world). After CEO Ken Lewis squealed and told how Paulson and Geithner had coerced him, Obama twisted the facts and claimed that if Ken Lewis was coerced then he had failed to disclose the risks of that coercion to the shareholders. Obama and his Party then forced out Ken Lewis because he took the coercion public. To force CEO Ken Lewis out, every Democrat State Treasurer in the USA corruptly voted their state pension fund BAC stock in a coordinated illegal national political party use of public funds to fire Ken Lewis. Obama is the greatest job destroyer the USA has ever seen, worse than hurricane Katrina or 911.
http://www.youtube.com/watch?v=hdiFOWzh16I
Phony and incompetent self proclaimed climatoligists now admit the melting of arctic ice due to humans was grossly overstated as 50% when in fact the data showed it was a statistically insignificant 0.1%. It was a 99.8% error. That is very disturbing and shows once again that the Obama environmentalists who say humans are the cause of global warming are either phony con men or just moron liberals. It means Obama has been destroying the cheap American fossil fuel energy industry for nothing. That Obama mistake has caused the loss of American energy industry jobs and has made America less competitive driving American firms closer to bankruptcy. Obama is the greatest job destroyer the USA has ever seen.
World markets
The biggest single financial risk to the World today is that the European situation will spiral out of control.
The bond markets continue to reflect expectations of certain default on Greek debt. The yield on 1-year Greek government bonds is now above 135%. The expected recovery rate implied by the yield stands at about 43% of face value and that is highly optimistic. The problem is that Greece has about 12 million people with about $300 billion in debt, and as economist Nouriel Roubini says its problem is a “chronic lack of competitiveness.” Anywhere from 70% to 80% of Greece’s private-sector companies are owned by the Greek government, state-owned enterprises staffed with political cronies exacting their own payback from getting officials elected. Unions run dozens of companies too. All of this means any bailout of Greece will founder sooner or later. A 2-trillion-euro rescue fund would likely let Greece founder later. That is why Greece never should have been admitted to the EU and needs to exit the EU ASAP.
Central bankers in Asian nations signaled that global financial-market turmoil diminishes inflation pressures in their economies, making previously anticipated interest-rate increases unlikely this year.
China sliding into recession? http://finance.yahoo.com/echarts?s=000001.SS+Interactive#chart3:symbol=000001.ss;range=6m;indicator=volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined
Has Germany bottomed yet? Choose 2 or 5 years. We would say yes.
http://finance.yahoo.com/echarts?s=^GDAXI+Interactive#chart1:symbol=^gdaxi;range=3m;indicator=volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined
The Swiss market has bottomed. Choose 2 or 5 years http://finance.yahoo.com/echarts?s=^SSMI+Interactive#chart2:symbol=^ssmi;range=2y;indicator=volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined
Emerging markets are in recovery.
http://finance.yahoo.com/echarts?s=^BVSP+Interactive#chart1:symbol=^bvsp;range=2y;indicator=volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined
American Economy-
Last week summary
MBA Mortgage Purchase Index 09/10 up +6.3% after being down -4.9% last month. Great news again for housing.
Core CPI Aug remained constant at 0.2%… no inflation
Sep 16 9:55 AM Mich Sentiment Sep 57.8 up from 55.7 but still very low.
MBA Mortgage Index 09/17 up 0.6% after up +6.3% last month. Very good for housing.
Existing Home Sales Aug up to 5.03M from 4.67M last month. Very good for housing.
Initial Claims 09/17 were 423K down from 428K. Good news
FHFA Housing Price Index Jul rose 0.8% following a 0.9% improvement. Great news.
Leading Indicators Aug rose 0.3 following a 0.5% improvement in July still a good 6 month forward indicator.
Yesterday
New Home Sales Aug 295K down only slightly from 298K due to a hurricane and floods that shut things down about a week in August.
This week
Sep 27 9:00 AM Case-Shiller 20-city Index Jul
Sep 27 10:00 AM Consumer Confidence Sep
Sep 28 7:00 AM MBA Mortgage Index 09/24
Sep 28 8:30 AM Durable Orders Aug
Sep 28 8:30 AM Durable Ordes ex Transportation Aug
Sep 28 10:30 AM Crude Inventories 09/24
Sep 29 8:30 AM Initial Claims 09/24
Sep 29 8:30 AM Continuing Claims 09/17
Sep 29 8:30 AM GDP - Third Estimate Q2
Sep 29 8:30 AM GDP Deflator - Third Estimate Q2
Sep 29 10:00 AM Pending Home Sales Jul
Sep 30 8:30 AM Personal Income Aug
Sep 30 8:30 AM Personal Spending Aug
Sep 30 8:30 AM PCE Prices - Core Aug
Sep 30 9:45 AM Chicago PMI Sep -
Sep 30 9:55 AM Michigan Sentiment - Final Sep
Market Outlook September 27 2011
Until socialist Greece is thrown out of the EU the financial markets will be pounded over and over and the dominoes of the EU will begin to fall. The will continue to cause large swings in share prices.
It is good news in the USA is that housing has bottomed and is now moving up. Construction spending appears to have bottomed out, and sales and sales prices are rising again.
The trading range of equities tested the resistance levels of 2010 and held. We still expect a normal advance of up to at least 50% of the total decline. But then it will be time to lighten up on equities again. See:
http://finance.yahoo.com/q/ta?s=^NYA&t=2y&l=on&z=l&q=l&p=e50%2Ce100&a=&c=
We see a pick up in bulk trade which seems to have bottomed and is improving. See 1yr chart at:
http://www.bloomberg.com/apps/quote?ticker=BDIY:IND
Stock market update:
Asian Stocks were up significantly last night. China up 0.9%, Hong Kong up 4.2%, India up 3%, Seoul up 5%, and Japan up 2.8%.
European markets are up significantly in a range 3% to 4% half way through their day.
.
American market futures are up about 1.7% at 8AM EST.
Financial firms have announced more than 120,000 job cuts this year. Bank of America Corp., the biggest U.S. lender by assets, said Sept. 12 it also will eliminate another 30,000 jobs after being attacked directly and repeatedly by Obama and the Democratic Party for revealing that the largest American bank was coerced by the Obama Administration into bailing out Merrill Lynch and Countrywide (the biggest corrupt Dodd-Frank liar loan mortgage dealer in the world). After CEO Ken Lewis squealed and told how Paulson and Geithner had coerced him, Obama twisted the facts and claimed that if Ken Lewis was coerced then he had failed to disclose the risks of that coercion to the shareholders. Obama and his Party then forced out Ken Lewis because he took the coercion public. To force CEO Ken Lewis out, every Democrat State Treasurer in the USA corruptly voted their state pension fund BAC stock in a coordinated illegal national political party use of public funds to fire Ken Lewis. Obama is the greatest job destroyer the USA has ever seen, worse than hurricane Katrina or 911.
http://www.youtube.com/watch?v=hdiFOWzh16I
Phony and incompetent self proclaimed climatoligists now admit the melting of arctic ice due to humans was grossly overstated as 50% when in fact the data showed it was a statistically insignificant 0.1%. It was a 99.8% error. That is very disturbing and shows once again that the Obama environmentalists who say humans are the cause of global warming are either phony con men or just moron liberals. It means Obama has been destroying the cheap American fossil fuel energy industry for nothing. That Obama mistake has caused the loss of American energy industry jobs and has made America less competitive driving American firms closer to bankruptcy. Obama is the greatest job destroyer the USA has ever seen.
World markets
The biggest single financial risk to the World today is that the European situation will spiral out of control.
The bond markets continue to reflect expectations of certain default on Greek debt. The yield on 1-year Greek government bonds is now above 135%. The expected recovery rate implied by the yield stands at about 43% of face value and that is highly optimistic. The problem is that Greece has about 12 million people with about $300 billion in debt, and as economist Nouriel Roubini says its problem is a “chronic lack of competitiveness.” Anywhere from 70% to 80% of Greece’s private-sector companies are owned by the Greek government, state-owned enterprises staffed with political cronies exacting their own payback from getting officials elected. Unions run dozens of companies too. All of this means any bailout of Greece will founder sooner or later. A 2-trillion-euro rescue fund would likely let Greece founder later. That is why Greece never should have been admitted to the EU and needs to exit the EU ASAP.
Central bankers in Asian nations signaled that global financial-market turmoil diminishes inflation pressures in their economies, making previously anticipated interest-rate increases unlikely this year.
China sliding into recession? http://finance.yahoo.com/echarts?s=000001.SS+Interactive#chart3:symbol=000001.ss;range=6m;indicator=volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined
Has Germany bottomed yet? Choose 2 or 5 years. We would say yes.
http://finance.yahoo.com/echarts?s=^GDAXI+Interactive#chart1:symbol=^gdaxi;range=3m;indicator=volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined
The Swiss market has bottomed. Choose 2 or 5 years http://finance.yahoo.com/echarts?s=^SSMI+Interactive#chart2:symbol=^ssmi;range=2y;indicator=volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined
Emerging markets are in recovery.
http://finance.yahoo.com/echarts?s=^BVSP+Interactive#chart1:symbol=^bvsp;range=2y;indicator=volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined
American Economy-
Last week summary
MBA Mortgage Purchase Index 09/10 up +6.3% after being down -4.9% last month. Great news again for housing.
Core CPI Aug remained constant at 0.2%… no inflation
Sep 16 9:55 AM Mich Sentiment Sep 57.8 up from 55.7 but still very low.
MBA Mortgage Index 09/17 up 0.6% after up +6.3% last month. Very good for housing.
Existing Home Sales Aug up to 5.03M from 4.67M last month. Very good for housing.
Initial Claims 09/17 were 423K down from 428K. Good news
FHFA Housing Price Index Jul rose 0.8% following a 0.9% improvement. Great news.
Leading Indicators Aug rose 0.3 following a 0.5% improvement in July still a good 6 month forward indicator.
Yesterday
New Home Sales Aug 295K down only slightly from 298K due to a hurricane and floods that shut things down about a week in August.
This week
Sep 27 9:00 AM Case-Shiller 20-city Index Jul
Sep 27 10:00 AM Consumer Confidence Sep
Sep 28 7:00 AM MBA Mortgage Index 09/24
Sep 28 8:30 AM Durable Orders Aug
Sep 28 8:30 AM Durable Ordes ex Transportation Aug
Sep 28 10:30 AM Crude Inventories 09/24
Sep 29 8:30 AM Initial Claims 09/24
Sep 29 8:30 AM Continuing Claims 09/17
Sep 29 8:30 AM GDP - Third Estimate Q2
Sep 29 8:30 AM GDP Deflator - Third Estimate Q2
Sep 29 10:00 AM Pending Home Sales Jul
Sep 30 8:30 AM Personal Income Aug
Sep 30 8:30 AM Personal Spending Aug
Sep 30 8:30 AM PCE Prices - Core Aug
Sep 30 9:45 AM Chicago PMI Sep -
Sep 30 9:55 AM Michigan Sentiment - Final Sep
Market Outlook September 27 2011
Until socialist Greece is thrown out of the EU the financial markets will be pounded over and over and the dominoes of the EU will begin to fall. The will continue to cause large swings in share prices.
It is good news in the USA is that housing has bottomed and is now moving up. Construction spending appears to have bottomed out, and sales and sales prices are rising again.
The trading range of equities tested the resistance levels of 2010 and held. We still expect a normal advance of up to at least 50% of the total decline. But then it will be time to lighten up on equities again. See:
http://finance.yahoo.com/q/ta?s=^NYA&t=2y&l=on&z=l&q=l&p=e50%2Ce100&a=&c=
We see a pick up in bulk trade which seems to have bottomed and is improving. See 1yr chart at:
http://www.bloomberg.com/apps/quote?ticker=BDIY:IND
Stock market update:
Asian Stocks were up significantly last night. China up 0.9%, Hong Kong up 4.2%, India up 3%, Seoul up 5%, and Japan up 2.8%.
European markets are up significantly in a range 3% to 4% half way through their day.
.
American market futures are up about 1.7% at 8AM EST.
Monday, September 26, 2011
Climatoligists now admit the melting of arctic ice due to humans was grossly overstated as 50% when under 0.1%
Climatoligists now admit the melting of arctic ice due to humans was grossly overstated as 50% when in fact the data showed it was a statistically insignificant 0.1%. It was a 99.8% error. That is very disturbing. It means Obama has been destroying the cheap American fossil fuel energy industry for nothing. That has caused the loss of American energy industry jobs and has made America less competitive driving American firms closer to bankruptcy.
As the market declines it takes much less cash to buy out all the fools that bought bonds at their highs, and then bought stocks at their highs and have fled into gold and silver this year at their highs. The con artists who got people into Silver said being an industrial commodity was a plus but that is false in a recession. The people buying gold and “food insurance” are fools and the victims of con artists. All the fools will be broke and out of the market pretty soon. There will be no hyperinflation. Just look at Japan, a deep debtor nation and you see there has been no inflation there with 20 years of slow growth. The time to by gold was between 1984 and Sept 1999 when it was below $254/oz. It was time to sell was this year, not buy. Selling then at%1500 was a 500% profit. Selling above $1900 was just about 700% profit. Only fools would expect even that much.
Morgan Stanley is the first firm to publicly use some of its massive cash base to buy its own under priced stock. MS in far better shape than it was three years ago when it needed government bailout money to survive. So chief executive James Gorman decided to quash an ugly rumor that Morgan faced losses due to faltering European banks. He ordered his traders to buy the firm’s own debt in the market to underscore the firm’s financial strength and the shares of Morgan Stanley rebounded and was up 2.9% Friday.
Luxury homes now hold their own now in the USA and in central London they climbed the most this past year. The debt crisis is encouraging investors to buy less-risky assets that the wealthy can use to maintain their real estate portfolio.
A federal appeals court in San Francisco said the U.S. Treasury Department’s use of classified information to designate the now defunct Oregon Islamic charity, as a terrorist organization will be upheld. While the terrorist organization, Al- Haramain Islamic Foundation Inc, was not given a chance to respond to the information against it, the designation as a terrorist group wouldn’t have been altered, the court said. Terrorists should not expect to be able cripple justice in the USA.
World markets
German stocks rose as Germany’s business confidence fell less than expected. Both French and German stock markets are now down more than 30% from their highs close to the average full depth of a bear market.
The International Monetary Fund said it is ready to support European nations in their efforts to resolve the debt crisis.
Central bankers in Asian nations signaled that global financial-market turmoil diminishes inflation pressures in their economies, making previously anticipated interest-rate increases unlikely this year.
“The biggest single risk to the United States today is that the European situation will spiral out of control,” said Edwin M. Truman, a former Treasury official who is now at the Peterson Institute for International Economics. “Europe is not going to save the U.S. economy, but it could be the straw that breaks it.”
The socialists commit crimes against their children with indoctrination. The Nationalist Socialists, the International Socialists, and the Moslem Socialists all do it. It is not the American Way. It is sick, it is corrupt, it is hate unleashed, and it is taught to our children. Was the $2.3Billion loss by corrupt London based ignoramus Kweku Adoboli at UBS anything compared to what Washington based Barrack Hussein Obama (mmm mmm mmm) is getting away with $trillions of funds going to his political supporters and stimulating contributions to this political campaign “War Chest?” Will the socialists be stopped? It worked in 2010 but needs to be done again.
http://www.youtube.com/watch?v=R3TKMKbifgQ&NR=1
http://www.youtube.com/watch?v=449Qm9YSOLU
http://www.youtube.com/watch?v=7Gzyeo1Z1I4&feature=related
China sliding into recession? http://finance.yahoo.com/echarts?s=000001.SS+Interactive#chart3:symbol=000001.ss;range=6m;indicator=volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined
Has Germany bottomed yet? Choose 2 or 5 years. We would say yes.
http://finance.yahoo.com/echarts?s=^GDAXI+Interactive#chart1:symbol=^gdaxi;range=3m;indicator=volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined
The Swiss market has bottomed. Choose 2 or 5 years http://finance.yahoo.com/echarts?s=^SSMI+Interactive#chart2:symbol=^ssmi;range=2y;indicator=volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined
Emerging markets are in recovery.
http://finance.yahoo.com/echarts?s=^BVSP+Interactive#chart1:symbol=^bvsp;range=2y;indicator=volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined
American Economy-
Last week summary
MBA Mortgage Purchase Index 09/10 up +6.3% after being down -4.9% last month. Great news again for housing.
Core CPI Aug remained constant at 0.2%… no inflation
Sep 16 9:55 AM Mich Sentiment Sep 57.8 up from 55.7 but still very low.
MBA Mortgage Index 09/17 up 0.6% after up +6.3% last month. Very good for housing.
Existing Home Sales Aug up to 5.03M from 4.67M last month. Very good for housing.
Initial Claims 09/17 were 423K down from 428K. Good news
FHFA Housing Price Index Jul rose 0.8% following a 0.9% improvement. Great news.
Leading Indicators Aug rose 0.3 following a 0.5% improvement in July still a good 6 month forward indicator.
This week
Sep 26 10:00 AM New Home Sales Aug
Sep 27 9:00 AM Case-Shiller 20-city Index Jul
Sep 27 10:00 AM Consumer Confidence Sep
Sep 28 7:00 AM MBA Mortgage Index 09/24
Sep 28 8:30 AM Durable Orders Aug
Sep 28 8:30 AM Durable Ordes ex Transportation Aug
Sep 28 10:30 AM Crude Inventories 09/24
Sep 29 8:30 AM Initial Claims 09/24
Sep 29 8:30 AM Continuing Claims 09/17
Sep 29 8:30 AM GDP - Third Estimate Q2
Sep 29 8:30 AM GDP Deflator - Third Estimate Q2
Sep 29 10:00 AM Pending Home Sales Jul
Sep 30 8:30 AM Personal Income Aug
Sep 30 8:30 AM Personal Spending Aug
Sep 30 8:30 AM PCE Prices - Core Aug
Sep 30 9:45 AM Chicago PMI Sep -
Sep 30 9:55 AM Michigan Sentiment - Final Sep
Market Outlook September 26 2011
It is good news that housing has bottomed and is now moving up. Construction spending appears to have bottomed out, and sales and sales prices are rising again. The news on housing has finally turned positive 25 months after GE/MSNBC/Pravda’s Jim Cramer said they bottomed in July of 2009.
The trading range of equities tested the resistance levels of 2010 and held. We still expect a normal advance of up to at least 50% of the total decline. See:
http://finance.yahoo.com/q/ta?s=^NYA&t=2y&l=on&z=l&q=l&p=e50%2Ce100&a=&c=
We see a pick up in bulk trade which seems to have bottomed and is improving. See 1yr chart at:
http://www.bloomberg.com/apps/quote?ticker=BDIY:IND
Stock market update:
Asian Stocks were down again last night. China down –1.6%, Hong Kong down –1.5%, India no change, Seoul down –2.6%, and Japan down -2.2%.
European markets are up significantly in a range 1.3% to 3.5% half way through their day.
.
American market futures are up about 1.3% to 1.7% at 8AM EST.
As the market declines it takes much less cash to buy out all the fools that bought bonds at their highs, and then bought stocks at their highs and have fled into gold and silver this year at their highs. The con artists who got people into Silver said being an industrial commodity was a plus but that is false in a recession. The people buying gold and “food insurance” are fools and the victims of con artists. All the fools will be broke and out of the market pretty soon. There will be no hyperinflation. Just look at Japan, a deep debtor nation and you see there has been no inflation there with 20 years of slow growth. The time to by gold was between 1984 and Sept 1999 when it was below $254/oz. It was time to sell was this year, not buy. Selling then at%1500 was a 500% profit. Selling above $1900 was just about 700% profit. Only fools would expect even that much.
Morgan Stanley is the first firm to publicly use some of its massive cash base to buy its own under priced stock. MS in far better shape than it was three years ago when it needed government bailout money to survive. So chief executive James Gorman decided to quash an ugly rumor that Morgan faced losses due to faltering European banks. He ordered his traders to buy the firm’s own debt in the market to underscore the firm’s financial strength and the shares of Morgan Stanley rebounded and was up 2.9% Friday.
Luxury homes now hold their own now in the USA and in central London they climbed the most this past year. The debt crisis is encouraging investors to buy less-risky assets that the wealthy can use to maintain their real estate portfolio.
A federal appeals court in San Francisco said the U.S. Treasury Department’s use of classified information to designate the now defunct Oregon Islamic charity, as a terrorist organization will be upheld. While the terrorist organization, Al- Haramain Islamic Foundation Inc, was not given a chance to respond to the information against it, the designation as a terrorist group wouldn’t have been altered, the court said. Terrorists should not expect to be able cripple justice in the USA.
World markets
German stocks rose as Germany’s business confidence fell less than expected. Both French and German stock markets are now down more than 30% from their highs close to the average full depth of a bear market.
The International Monetary Fund said it is ready to support European nations in their efforts to resolve the debt crisis.
Central bankers in Asian nations signaled that global financial-market turmoil diminishes inflation pressures in their economies, making previously anticipated interest-rate increases unlikely this year.
“The biggest single risk to the United States today is that the European situation will spiral out of control,” said Edwin M. Truman, a former Treasury official who is now at the Peterson Institute for International Economics. “Europe is not going to save the U.S. economy, but it could be the straw that breaks it.”
The socialists commit crimes against their children with indoctrination. The Nationalist Socialists, the International Socialists, and the Moslem Socialists all do it. It is not the American Way. It is sick, it is corrupt, it is hate unleashed, and it is taught to our children. Was the $2.3Billion loss by corrupt London based ignoramus Kweku Adoboli at UBS anything compared to what Washington based Barrack Hussein Obama (mmm mmm mmm) is getting away with $trillions of funds going to his political supporters and stimulating contributions to this political campaign “War Chest?” Will the socialists be stopped? It worked in 2010 but needs to be done again.
http://www.youtube.com/watch?v=R3TKMKbifgQ&NR=1
http://www.youtube.com/watch?v=449Qm9YSOLU
http://www.youtube.com/watch?v=7Gzyeo1Z1I4&feature=related
China sliding into recession? http://finance.yahoo.com/echarts?s=000001.SS+Interactive#chart3:symbol=000001.ss;range=6m;indicator=volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined
Has Germany bottomed yet? Choose 2 or 5 years. We would say yes.
http://finance.yahoo.com/echarts?s=^GDAXI+Interactive#chart1:symbol=^gdaxi;range=3m;indicator=volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined
The Swiss market has bottomed. Choose 2 or 5 years http://finance.yahoo.com/echarts?s=^SSMI+Interactive#chart2:symbol=^ssmi;range=2y;indicator=volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined
Emerging markets are in recovery.
http://finance.yahoo.com/echarts?s=^BVSP+Interactive#chart1:symbol=^bvsp;range=2y;indicator=volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined
American Economy-
Last week summary
MBA Mortgage Purchase Index 09/10 up +6.3% after being down -4.9% last month. Great news again for housing.
Core CPI Aug remained constant at 0.2%… no inflation
Sep 16 9:55 AM Mich Sentiment Sep 57.8 up from 55.7 but still very low.
MBA Mortgage Index 09/17 up 0.6% after up +6.3% last month. Very good for housing.
Existing Home Sales Aug up to 5.03M from 4.67M last month. Very good for housing.
Initial Claims 09/17 were 423K down from 428K. Good news
FHFA Housing Price Index Jul rose 0.8% following a 0.9% improvement. Great news.
Leading Indicators Aug rose 0.3 following a 0.5% improvement in July still a good 6 month forward indicator.
This week
Sep 26 10:00 AM New Home Sales Aug
Sep 27 9:00 AM Case-Shiller 20-city Index Jul
Sep 27 10:00 AM Consumer Confidence Sep
Sep 28 7:00 AM MBA Mortgage Index 09/24
Sep 28 8:30 AM Durable Orders Aug
Sep 28 8:30 AM Durable Ordes ex Transportation Aug
Sep 28 10:30 AM Crude Inventories 09/24
Sep 29 8:30 AM Initial Claims 09/24
Sep 29 8:30 AM Continuing Claims 09/17
Sep 29 8:30 AM GDP - Third Estimate Q2
Sep 29 8:30 AM GDP Deflator - Third Estimate Q2
Sep 29 10:00 AM Pending Home Sales Jul
Sep 30 8:30 AM Personal Income Aug
Sep 30 8:30 AM Personal Spending Aug
Sep 30 8:30 AM PCE Prices - Core Aug
Sep 30 9:45 AM Chicago PMI Sep -
Sep 30 9:55 AM Michigan Sentiment - Final Sep
Market Outlook September 26 2011
It is good news that housing has bottomed and is now moving up. Construction spending appears to have bottomed out, and sales and sales prices are rising again. The news on housing has finally turned positive 25 months after GE/MSNBC/Pravda’s Jim Cramer said they bottomed in July of 2009.
The trading range of equities tested the resistance levels of 2010 and held. We still expect a normal advance of up to at least 50% of the total decline. See:
http://finance.yahoo.com/q/ta?s=^NYA&t=2y&l=on&z=l&q=l&p=e50%2Ce100&a=&c=
We see a pick up in bulk trade which seems to have bottomed and is improving. See 1yr chart at:
http://www.bloomberg.com/apps/quote?ticker=BDIY:IND
Stock market update:
Asian Stocks were down again last night. China down –1.6%, Hong Kong down –1.5%, India no change, Seoul down –2.6%, and Japan down -2.2%.
European markets are up significantly in a range 1.3% to 3.5% half way through their day.
.
American market futures are up about 1.3% to 1.7% at 8AM EST.
Friday, September 23, 2011
Jack Welch this morning described how Obama continues to embarrass America. Jack Welch says Obama ignorantly has allowed
Jack Welch this morning described how Obama continues to embarrass America. Jack Welch says Obama ignorantly has allowed a $300,000 penalty per unemployed person to be inserted in his jobs bill, for corporations found discriminating against the unemployed by not providing jobs they can afford to provide. Obama will spend goes the pile of wealth the corporations could use to spur growth on making trial lawyers millionaires. . There goes the pile of wealth the corporations could use to spur growth. World distress rises as investors see the futility of government planners and the burden of government paid socialist supporting freeloaders weighing down all national economies.
The United Nation’s carbon market will be allowed to slowly die on the vine when the Kyoto Protocol greenhouse gas-reduction goals for developed nations expire in 2012 the European Union climate chief said. Europeans avoid being hurt by the system by using the credits that the developing countries get to purchase the European polluting industries and transferring them to the developing countries. “The CDM will continue more or less as it is now,” Hedegaard said in an interview during a visit to New York. China will continue to pollute China’s rivers making solar panels for Obama’s shell corporations that get stimulation money to contribute to Obama’s record $1Billion presidential campaign war chest.
The Fed $400Billion plan is to use principal payments from its holdings of short term debt and reinvest them into agency mortgage-backed securities from government-sponsored enterprises Fannie Mae and Freddie Mac. That “Twist” is indicative that the central bank is intent on stimulating the housing market as well as liquidating mortgage defaults with new refinancing at affordable rates. That will break up the housing market log jamb and create homeowner wealth across America and thus result in consumer sales growth.
The positive intent is clearly fourfold.
1. First by selling longer term, the turnover of current debt is pushed into the future. That is one reason for wanting lower longer rates. It would have been good for Greece if a few years ago they could have taken on 30-year debt at 3% interest because they would not have to turn over at 15% or higher short term interest rates as they do today.
2. The second benefit is that although the cost of long-term debt is higher than short term, having less short-term debt reduces the susceptibility of the economy to the kind of seasonal attacks by speculators that we have seen in Europe. It enhances economic stability.
3. The third benefit is the FED will loosen up the log jamb of housing defaults so sales will jump and the American labor force will become fluid again so people can move freely to where the jobs are and real estate values will rise and the resulting consumer wealth creation can fuel economic recovery again.
4. Pushing debt into the future by lowering future rates also has an anti-inflationary effect in the future.
The FED will still need a strategy to stabilize and prevent the next bubble from forming. The bubble keeps changing form and the FED never seems to recognize it coming.
World markets
China may be tipping now into recession. Land sales are dropping fast, developers are losing access to bank financing, and housing prices seem to have peaked. This can be the beginning of a major recession in China.
Greek socialists and Communists continue to embarrass the EU with striking freeloaders. Athen’s shares are down 6.35% this morning at this moment.
The European Central Bank may act to address risks to growth as soon as next month should economic data disappoint, Governing Council member Luc Coene said. The plan is to lower long-term rates as the USA has done.
The socialists commit crimes against their children with indoctrination. The Nationalist Socialists, the International Socialists, and the Moslem Socialists all do it. It is not the American Way. It is sick, it is corrupt, it is hate unleashed, and it is taught to our children. Was the $2.3Billion loss by corrupt London based ignoramus Kweku Adoboli at UBS anything compared to what Washington based Barrack Hussein Obama (mmm mmm mmm) is getting away with $trillions of funds going to his political supporters and stimulating contributions to this political campaign “War Chest?” Will the socialists be stopped? It worked in 2010 but needs to be done again.
http://www.youtube.com/watch?v=R3TKMKbifgQ&NR=1
http://www.youtube.com/watch?v=449Qm9YSOLU
http://www.youtube.com/watch?v=7Gzyeo1Z1I4&feature=related
China sliding into recession? http://finance.yahoo.com/echarts?s=000001.SS+Interactive#chart3:symbol=000001.ss;range=6m;indicator=volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined
Has Germany bottomed yet? Choose 2 or 5 years. We would say yes.
http://finance.yahoo.com/echarts?s=^GDAXI+Interactive#chart1:symbol=^gdaxi;range=3m;indicator=volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined
The Swiss market has bottomed. Choose 2 or 5 years http://finance.yahoo.com/echarts?s=^SSMI+Interactive#chart2:symbol=^ssmi;range=2y;indicator=volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined
Emerging markets are in recovery.
http://finance.yahoo.com/echarts?s=^BVSP+Interactive#chart1:symbol=^bvsp;range=2y;indicator=volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined
American Economy-
Last week summary
MBA Mortgage listing Index 09/03 -4.9% up considerably from last month’s -9.6%. This is the first of the good news we predicted starting for housing.
MBA Mortgage Purchase Index 09/10 up +6.3% after being down -4.9% last month. Great news again for housing.
Core CPI Aug remained constant at 0.2%… no inflation
Sep 16 9:55 AM Mich Sentiment Sep 57.8 up from 55.7 but still very low.
Building Permits Aug of 620K while down to 597K they exceed for the first time the houses built in each of the previous two months. Since most permits generate houses this seems to be a turning point.
FOMC Rate Decision Sep unchanged (0.25%) from August.
We need to see Home Sales pick up next
MBA Mortgage Index 09/17 up 0.6% after up +6.3% last month. Very good for housing.
Existing Home Sales Aug up to 5.03M from 4.67M last month. Very good for housing.
AM Crude Inventories 09/17 down -7.336M after down -6.704M last week. Higher prices coming.
FOMC Rate Decision Sep 0.25% no change. The twist will help liquidate defaults and help housing.
Yesterday
Initial Claims 09/17 were 423K down from 428K. Good news
Continuing Claims 09/10 were 3727K flat from 3726K
FHFA Housing Price Index Jul rose 0.8% following a 0.9% improvement. Great news.
Leading Indicators Aug rose 0.3 following a 0.5% improvement in July still a good 6 month forward indicator.
Market Outlook September 23 2011
Sharp stock market sell-offs are occurring now. The longer Greece holds off default the worse it becomes. Greece needs to get kicked out of the EU ASAP..
It is good news that housing starts are moving up, construction spending appears to have bottomed out, and sales are rising now. We need to see Home prices pick up today.
The trading range of equities tested the resistance levels. We still expect a normal advance of up to at least 50% of the total August decline. See:
http://finance.yahoo.com/q/ta?s=^NYA&t=1y&l=on&z=l&q=l&p=e50%2Ce100&a=&c=
We see a pick up in bulk trade which seems to have bottomed and is finally improving. See 1yr chart at:
http://www.bloomberg.com/apps/quote?ticker=BDIY:IND
Stock market update:
Asian Stocks were down again last night. China down –0.4%, Hong Kong down –1.4%, India down –1.2%, Seoul down –5.7%, and Japan closed.
European markets are down again in a range -1% to –4.5% half way through their day.
.
American markets futures are down about –0.3% to –3.7% at 7AM EST.
Obama, the creator of American socialist corruption and the Obama mediocracy, still runs wild. We predict a gradual recovery but with high Obama caused unemployment until the stupid Obama socialists are all voted out of office. When Obama leaves, corporations can safely grow jobs again and unemployment will drop. Right now the Obama socialists are just too stupid to see how their corrupt government meddling to get contributions and kickbacks creates widespread uncertainty and kills jobs everywhere.
The United Nation’s carbon market will be allowed to slowly die on the vine when the Kyoto Protocol greenhouse gas-reduction goals for developed nations expire in 2012 the European Union climate chief said. Europeans avoid being hurt by the system by using the credits that the developing countries get to purchase the European polluting industries and transferring them to the developing countries. “The CDM will continue more or less as it is now,” Hedegaard said in an interview during a visit to New York. China will continue to pollute China’s rivers making solar panels for Obama’s shell corporations that get stimulation money to contribute to Obama’s record $1Billion presidential campaign war chest.
The Fed $400Billion plan is to use principal payments from its holdings of short term debt and reinvest them into agency mortgage-backed securities from government-sponsored enterprises Fannie Mae and Freddie Mac. That “Twist” is indicative that the central bank is intent on stimulating the housing market as well as liquidating mortgage defaults with new refinancing at affordable rates. That will break up the housing market log jamb and create homeowner wealth across America and thus result in consumer sales growth.
The positive intent is clearly fourfold.
1. First by selling longer term, the turnover of current debt is pushed into the future. That is one reason for wanting lower longer rates. It would have been good for Greece if a few years ago they could have taken on 30-year debt at 3% interest because they would not have to turn over at 15% or higher short term interest rates as they do today.
2. The second benefit is that although the cost of long-term debt is higher than short term, having less short-term debt reduces the susceptibility of the economy to the kind of seasonal attacks by speculators that we have seen in Europe. It enhances economic stability.
3. The third benefit is the FED will loosen up the log jamb of housing defaults so sales will jump and the American labor force will become fluid again so people can move freely to where the jobs are and real estate values will rise and the resulting consumer wealth creation can fuel economic recovery again.
4. Pushing debt into the future by lowering future rates also has an anti-inflationary effect in the future.
The FED will still need a strategy to stabilize and prevent the next bubble from forming. The bubble keeps changing form and the FED never seems to recognize it coming.
World markets
China may be tipping now into recession. Land sales are dropping fast, developers are losing access to bank financing, and housing prices seem to have peaked. This can be the beginning of a major recession in China.
Greek socialists and Communists continue to embarrass the EU with striking freeloaders. Athen’s shares are down 6.35% this morning at this moment.
The European Central Bank may act to address risks to growth as soon as next month should economic data disappoint, Governing Council member Luc Coene said. The plan is to lower long-term rates as the USA has done.
The socialists commit crimes against their children with indoctrination. The Nationalist Socialists, the International Socialists, and the Moslem Socialists all do it. It is not the American Way. It is sick, it is corrupt, it is hate unleashed, and it is taught to our children. Was the $2.3Billion loss by corrupt London based ignoramus Kweku Adoboli at UBS anything compared to what Washington based Barrack Hussein Obama (mmm mmm mmm) is getting away with $trillions of funds going to his political supporters and stimulating contributions to this political campaign “War Chest?” Will the socialists be stopped? It worked in 2010 but needs to be done again.
http://www.youtube.com/watch?v=R3TKMKbifgQ&NR=1
http://www.youtube.com/watch?v=449Qm9YSOLU
http://www.youtube.com/watch?v=7Gzyeo1Z1I4&feature=related
China sliding into recession? http://finance.yahoo.com/echarts?s=000001.SS+Interactive#chart3:symbol=000001.ss;range=6m;indicator=volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined
Has Germany bottomed yet? Choose 2 or 5 years. We would say yes.
http://finance.yahoo.com/echarts?s=^GDAXI+Interactive#chart1:symbol=^gdaxi;range=3m;indicator=volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined
The Swiss market has bottomed. Choose 2 or 5 years http://finance.yahoo.com/echarts?s=^SSMI+Interactive#chart2:symbol=^ssmi;range=2y;indicator=volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined
Emerging markets are in recovery.
http://finance.yahoo.com/echarts?s=^BVSP+Interactive#chart1:symbol=^bvsp;range=2y;indicator=volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined
American Economy-
Last week summary
MBA Mortgage listing Index 09/03 -4.9% up considerably from last month’s -9.6%. This is the first of the good news we predicted starting for housing.
MBA Mortgage Purchase Index 09/10 up +6.3% after being down -4.9% last month. Great news again for housing.
Core CPI Aug remained constant at 0.2%… no inflation
Sep 16 9:55 AM Mich Sentiment Sep 57.8 up from 55.7 but still very low.
Building Permits Aug of 620K while down to 597K they exceed for the first time the houses built in each of the previous two months. Since most permits generate houses this seems to be a turning point.
FOMC Rate Decision Sep unchanged (0.25%) from August.
We need to see Home Sales pick up next
MBA Mortgage Index 09/17 up 0.6% after up +6.3% last month. Very good for housing.
Existing Home Sales Aug up to 5.03M from 4.67M last month. Very good for housing.
AM Crude Inventories 09/17 down -7.336M after down -6.704M last week. Higher prices coming.
FOMC Rate Decision Sep 0.25% no change. The twist will help liquidate defaults and help housing.
Yesterday
Initial Claims 09/17 were 423K down from 428K. Good news
Continuing Claims 09/10 were 3727K flat from 3726K
FHFA Housing Price Index Jul rose 0.8% following a 0.9% improvement. Great news.
Leading Indicators Aug rose 0.3 following a 0.5% improvement in July still a good 6 month forward indicator.
Market Outlook September 23 2011
Sharp stock market sell-offs are occurring now. The longer Greece holds off default the worse it becomes. Greece needs to get kicked out of the EU ASAP..
It is good news that housing starts are moving up, construction spending appears to have bottomed out, and sales are rising now. We need to see Home prices pick up today.
The trading range of equities tested the resistance levels. We still expect a normal advance of up to at least 50% of the total August decline. See:
http://finance.yahoo.com/q/ta?s=^NYA&t=1y&l=on&z=l&q=l&p=e50%2Ce100&a=&c=
We see a pick up in bulk trade which seems to have bottomed and is finally improving. See 1yr chart at:
http://www.bloomberg.com/apps/quote?ticker=BDIY:IND
Stock market update:
Asian Stocks were down again last night. China down –0.4%, Hong Kong down –1.4%, India down –1.2%, Seoul down –5.7%, and Japan closed.
European markets are down again in a range -1% to –4.5% half way through their day.
.
American markets futures are down about –0.3% to –3.7% at 7AM EST.
Obama, the creator of American socialist corruption and the Obama mediocracy, still runs wild. We predict a gradual recovery but with high Obama caused unemployment until the stupid Obama socialists are all voted out of office. When Obama leaves, corporations can safely grow jobs again and unemployment will drop. Right now the Obama socialists are just too stupid to see how their corrupt government meddling to get contributions and kickbacks creates widespread uncertainty and kills jobs everywhere.
Thursday, September 22, 2011
The pundits do not understand the positive things the FED will do and the Pundits are panicking today.
The pundits do not understand the positive things the FED will do and the Pundits are panicking today.
The Fed $400Billion plan is to take principal payments from its holdings of short term debt and reinvest them into agency mortgage-backed securities from government-sponsored enterprises Fannie Mae and Freddie Mac. That “Twist” is indicative that the central bank is intent on getting and keeping mortgage rates low as well as liquidating mortgage defaults with new refinancing at affordable rates. That will break up the housing market log jamb and create homeowner wealth across America and thus result in consumer sales growth.
The intent is clearly fourfold.
1. First by selling longer term, the turnover of current debt is pushed into the future. That is one reason for wanting lower longer rates. It would have been good for Greece if a few years ago they could have taken on 30-year debt at 3% interest because they would not have to turn over at 15% or higher short term interest rates as they do today.
2. The second benefit is that although the cost of long-term debt is higher than short term, having less short-term debt reduces the susceptibility of the economy to the kind of seasonal attacks by speculators that we have seen in Europe. It enhances economic stability.
3. The third benefit is the FED will loosen up the log jamb of housing defaults so sales will jump and the American labor force will become fluid again so people can move freely to where the jobs are and real estate values will rise and the resulting consumer wealth creation can fuel economic recovery again.
4. Pushing debt into the future by lowering future rates also has an anti-inflationary effect in the future.
But it could raise bank future costs if they are caught with lots of low interest mortgages when inflation rises above the current interest rates. That is where Fannie and Freddie shift that to the taxpayer. Basically it eases markets today at the expense of the future. Therefore the FED will need a strategy to stabilize and prevent the next bubble from forming. The bubble keeps changing form and the FED never seems to recognize it coming. Under Jimmy Carter it was a Malaise with slow growth and inflation. Under Clinton it was a technology-productivity bubble that showed up in over speculation in technology stocks. Under Bush it was a housing bubble that Greenspan did not see coming plus a financial derivatives scam Dodd and Barney Frank created to help socialists in Congress redistribute wealth to people with no means of support by giving them liar-loans to buy houses just by saying they could make the payments. The mortgage lenders and realtors were forbidden to ask for any substantiation of income or Fannie and Freddie would cut them off from doing business. Greenspan and the Democrats running the Senate Banking Committee proved to be quite dense when it came to recognizing fraud. It is even much worse now with the Obama Socialists.
Right now the Obama socialists are just too stupid to understand how their corrupt government meddling to get contributions and kickbacks for Obama’s election war chest… kills jobs everywhere. Obama needs to find a way to tax his appointees and advisors first because he has the mother loadstone of tax dodgers in his government.
Obama also abuses government power by using the justice department to attack honest rating agencies, honest businesses, and honest Republican opposition because they are honest and truthful and point out that Obama has his hands in the pockets of Americans and is corrupt. Obama had a new dream of a socialist America and the whole world now has a new nightmare. At one time America was a leader not an Obama socialist-mediocracy.
Warren Buffett proves the point that parasitic liberals shirk their responsibility and cheat all their way through life. Buffett’s hand picked replacement was not as discrete as Warren and was caught investing in companies before Berkshire Hathaway bought in and drove the value up. What a nice game that is to skim money from their investors.
World markets
Greek’s measures announced yesterday include: a 20 percent cut in pensions of more than 1,200 euros a month, according to a government statement; pensions paid to those younger than 55 will be shaved by 40 percent for the amount exceeding 1,000 euros and wages will be lowered for 30,000 state employees. Greek subway, tram, train, bus and trolley workers and state-school teachers held a 24-hour strike in Athens.
The world now sees the Obama nightmare of high American debt as the world nightmare starting in 2013.
See German Carnival Parade Humor about European and US Politics
http://1389blog.com/2011/08/30/german-rose-monday-carnival-floats-political-cartoons-in-3d/
http://photos.denverpost.com/mediacenter/2011/03/rosemonday-carnival-parade-in-cologne-germany/
China bottoming?. http://finance.yahoo.com/echarts?s=000001.SS+Interactive#chart1:symbol=000001.ss;range=5y;indicator=volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined
Has Germany bottomed yet? Choose 2 or 5 years. We would say yes.
http://finance.yahoo.com/echarts?s=^GDAXI+Interactive#chart1:symbol=^gdaxi;range=3m;indicator=volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined
The Swiss market has bottomed. Choose 2 or 5 years http://finance.yahoo.com/echarts?s=^SSMI+Interactive#chart2:symbol=^ssmi;range=2y;indicator=volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined
Emerging markets are in recovery.
http://finance.yahoo.com/echarts?s=^BVSP+Interactive#chart1:symbol=^bvsp;range=2y;indicator=volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined
American Economy-
Last week summary
MBA Mortgage listing Index 09/03 -4.9% up considerably from last month’s -9.6%. This is the first of the good news we predicted starting for housing.
MBA Mortgage Purchase Index 09/10 up +6.3% after being down -4.9% last month. Great news again for housing.
Core CPI Aug remained constant at 0.2%… no inflation
Industrial Production Aug increased 0.2% down from 0.9% last month. Still a 2.4% annual rate
Philadelphia Fed Sep -17.5 a big improvement from last months -30.7
Net long-term TIC Flows Jul $9.vs $3.7B means foreign investment in the USA increased.
Sep 16 9:55 AM Mich Sentiment Sep 57.8 up from 55.7 but still very low.
NAHB Housing Market Index Sep was 14 just slightly lower than last months 15. This finally seems to be bottoming out and is more evidence the housing market is turning around. Remember GE/MSNBC/Pravda’s Jim Crammer claimed the market already bottomed in July two years ago. That is the accuracy of MSNBC/Pravda’s commentary.
Housing Starts Aug 571K down from 604K last month
Building Permits Aug of 620K while down to 597K they exceed for the first time the houses built in each of the previous two months. Since most permits generate houses this seems to be a turning point.
FOMC Rate Decision Sep unchanged (0.25%) from August.
We need to see Home Sales pick up next
Yesterday
MBA Mortgage Index 09/17 up 0.6% after up +6.3% last month. Very good for housing.
Sep 21 10:00 AM Existing Home Sales Aug up to 5.03M from 4.67M last month. Very good for housing.
Sep 21 10:30 AM Crude Inventories 09/17 down -7.336M after down -6.704M last week. Higher prices coming.
Sep 21 2:15 PM FOMC Rate Decision Sep 0.25% no change. The twist will help liquidate defaults and help housing.
This Week
Sep 22 8:30 AM Initial Claims 09/17
Sep 22 8:30 AM Continuing Claims 09/10
Sep 22 10:00 AM FHFA Housing Price Index Jul
Sep 22 10:00 AM Leading Indicators Aug
Market Outlook September 22 2011
Sharp stock market sell-offs are occurring now. The longer Greece holds off default the worse it becomes. Greece needs to get kicked out of the EU ASAP. Greece is a socialist-communist dead albatross lying across the bow of the EU. Greece is a curse on free enterprise because their unions are thieves with no will power at all.
It is good news that housing starts are moving up, construction spending appears to have bottomed out, and sales are rising now. We need to see Home prices pick up today.
http://www.martincapital.com/index.php?page=graph&view=permits_and_construction
The only thing stopping this emerging economic boom is negative barking Obama and his rules and Obamacrap legislation that the democrats and socialists passed without even reading. When he takes his $Billion campaign war chest and moves it to a bank in Nigeria we will know the Obama malaise is finally leaving the USA.
So far the trading range of equities has not even tested the resistance levels. We expect a normal advance of up to at least 50% of the total August decline. See:
http://finance.yahoo.com/q/ta?s=^NYA&t=1y&l=on&z=l&q=l&p=e50%2Ce100&a=&c=
Bulk trade seems to have bottomed and is finally improving. See 1yr chart at:
http://www.bloomberg.com/apps/quote?ticker=BDIY:IND
Stock market update:
Asian Stocks were mixed last night. China down -2.8%, Hong Kong down –4.9%, India down –0.2%, Seoul down -2.9%, and Japan down –2.1%.
European markets are down sharply in a range -3% to -5% half way through their day.
.
American markets futures are down about -2% at 8AM EST.
Obama, the creator of American socialist corruption and the Obama mediocracy, still runs wild. We predict a gradual recovery but with high Obama caused unemployment until the stupid Obama socialists are all voted out of office. When Obama leaves, corporations can safely grow jobs again and unemployment will drop. Right now the Obama socialists are just too stupid to see how their corrupt government meddling to get contributions and kickbacks creates widespread uncertainty and kills jobs everywhere.
The Fed $400Billion plan is to take principal payments from its holdings of short term debt and reinvest them into agency mortgage-backed securities from government-sponsored enterprises Fannie Mae and Freddie Mac. That “Twist” is indicative that the central bank is intent on getting and keeping mortgage rates low as well as liquidating mortgage defaults with new refinancing at affordable rates. That will break up the housing market log jamb and create homeowner wealth across America and thus result in consumer sales growth.
The intent is clearly fourfold.
1. First by selling longer term, the turnover of current debt is pushed into the future. That is one reason for wanting lower longer rates. It would have been good for Greece if a few years ago they could have taken on 30-year debt at 3% interest because they would not have to turn over at 15% or higher short term interest rates as they do today.
2. The second benefit is that although the cost of long-term debt is higher than short term, having less short-term debt reduces the susceptibility of the economy to the kind of seasonal attacks by speculators that we have seen in Europe. It enhances economic stability.
3. The third benefit is the FED will loosen up the log jamb of housing defaults so sales will jump and the American labor force will become fluid again so people can move freely to where the jobs are and real estate values will rise and the resulting consumer wealth creation can fuel economic recovery again.
4. Pushing debt into the future by lowering future rates also has an anti-inflationary effect in the future.
But it could raise bank future costs if they are caught with lots of low interest mortgages when inflation rises above the current interest rates. That is where Fannie and Freddie shift that to the taxpayer. Basically it eases markets today at the expense of the future. Therefore the FED will need a strategy to stabilize and prevent the next bubble from forming. The bubble keeps changing form and the FED never seems to recognize it coming. Under Jimmy Carter it was a Malaise with slow growth and inflation. Under Clinton it was a technology-productivity bubble that showed up in over speculation in technology stocks. Under Bush it was a housing bubble that Greenspan did not see coming plus a financial derivatives scam Dodd and Barney Frank created to help socialists in Congress redistribute wealth to people with no means of support by giving them liar-loans to buy houses just by saying they could make the payments. The mortgage lenders and realtors were forbidden to ask for any substantiation of income or Fannie and Freddie would cut them off from doing business. Greenspan and the Democrats running the Senate Banking Committee proved to be quite dense when it came to recognizing fraud. It is even much worse now with the Obama Socialists.
Right now the Obama socialists are just too stupid to understand how their corrupt government meddling to get contributions and kickbacks for Obama’s election war chest… kills jobs everywhere. Obama needs to find a way to tax his appointees and advisors first because he has the mother loadstone of tax dodgers in his government.
Obama also abuses government power by using the justice department to attack honest rating agencies, honest businesses, and honest Republican opposition because they are honest and truthful and point out that Obama has his hands in the pockets of Americans and is corrupt. Obama had a new dream of a socialist America and the whole world now has a new nightmare. At one time America was a leader not an Obama socialist-mediocracy.
Warren Buffett proves the point that parasitic liberals shirk their responsibility and cheat all their way through life. Buffett’s hand picked replacement was not as discrete as Warren and was caught investing in companies before Berkshire Hathaway bought in and drove the value up. What a nice game that is to skim money from their investors.
World markets
Greek’s measures announced yesterday include: a 20 percent cut in pensions of more than 1,200 euros a month, according to a government statement; pensions paid to those younger than 55 will be shaved by 40 percent for the amount exceeding 1,000 euros and wages will be lowered for 30,000 state employees. Greek subway, tram, train, bus and trolley workers and state-school teachers held a 24-hour strike in Athens.
The world now sees the Obama nightmare of high American debt as the world nightmare starting in 2013.
See German Carnival Parade Humor about European and US Politics
http://1389blog.com/2011/08/30/german-rose-monday-carnival-floats-political-cartoons-in-3d/
http://photos.denverpost.com/mediacenter/2011/03/rosemonday-carnival-parade-in-cologne-germany/
China bottoming?. http://finance.yahoo.com/echarts?s=000001.SS+Interactive#chart1:symbol=000001.ss;range=5y;indicator=volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined
Has Germany bottomed yet? Choose 2 or 5 years. We would say yes.
http://finance.yahoo.com/echarts?s=^GDAXI+Interactive#chart1:symbol=^gdaxi;range=3m;indicator=volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined
The Swiss market has bottomed. Choose 2 or 5 years http://finance.yahoo.com/echarts?s=^SSMI+Interactive#chart2:symbol=^ssmi;range=2y;indicator=volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined
Emerging markets are in recovery.
http://finance.yahoo.com/echarts?s=^BVSP+Interactive#chart1:symbol=^bvsp;range=2y;indicator=volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined
American Economy-
Last week summary
MBA Mortgage listing Index 09/03 -4.9% up considerably from last month’s -9.6%. This is the first of the good news we predicted starting for housing.
MBA Mortgage Purchase Index 09/10 up +6.3% after being down -4.9% last month. Great news again for housing.
Core CPI Aug remained constant at 0.2%… no inflation
Industrial Production Aug increased 0.2% down from 0.9% last month. Still a 2.4% annual rate
Philadelphia Fed Sep -17.5 a big improvement from last months -30.7
Net long-term TIC Flows Jul $9.vs $3.7B means foreign investment in the USA increased.
Sep 16 9:55 AM Mich Sentiment Sep 57.8 up from 55.7 but still very low.
NAHB Housing Market Index Sep was 14 just slightly lower than last months 15. This finally seems to be bottoming out and is more evidence the housing market is turning around. Remember GE/MSNBC/Pravda’s Jim Crammer claimed the market already bottomed in July two years ago. That is the accuracy of MSNBC/Pravda’s commentary.
Housing Starts Aug 571K down from 604K last month
Building Permits Aug of 620K while down to 597K they exceed for the first time the houses built in each of the previous two months. Since most permits generate houses this seems to be a turning point.
FOMC Rate Decision Sep unchanged (0.25%) from August.
We need to see Home Sales pick up next
Yesterday
MBA Mortgage Index 09/17 up 0.6% after up +6.3% last month. Very good for housing.
Sep 21 10:00 AM Existing Home Sales Aug up to 5.03M from 4.67M last month. Very good for housing.
Sep 21 10:30 AM Crude Inventories 09/17 down -7.336M after down -6.704M last week. Higher prices coming.
Sep 21 2:15 PM FOMC Rate Decision Sep 0.25% no change. The twist will help liquidate defaults and help housing.
This Week
Sep 22 8:30 AM Initial Claims 09/17
Sep 22 8:30 AM Continuing Claims 09/10
Sep 22 10:00 AM FHFA Housing Price Index Jul
Sep 22 10:00 AM Leading Indicators Aug
Market Outlook September 22 2011
Sharp stock market sell-offs are occurring now. The longer Greece holds off default the worse it becomes. Greece needs to get kicked out of the EU ASAP. Greece is a socialist-communist dead albatross lying across the bow of the EU. Greece is a curse on free enterprise because their unions are thieves with no will power at all.
It is good news that housing starts are moving up, construction spending appears to have bottomed out, and sales are rising now. We need to see Home prices pick up today.
http://www.martincapital.com/index.php?page=graph&view=permits_and_construction
The only thing stopping this emerging economic boom is negative barking Obama and his rules and Obamacrap legislation that the democrats and socialists passed without even reading. When he takes his $Billion campaign war chest and moves it to a bank in Nigeria we will know the Obama malaise is finally leaving the USA.
So far the trading range of equities has not even tested the resistance levels. We expect a normal advance of up to at least 50% of the total August decline. See:
http://finance.yahoo.com/q/ta?s=^NYA&t=1y&l=on&z=l&q=l&p=e50%2Ce100&a=&c=
Bulk trade seems to have bottomed and is finally improving. See 1yr chart at:
http://www.bloomberg.com/apps/quote?ticker=BDIY:IND
Stock market update:
Asian Stocks were mixed last night. China down -2.8%, Hong Kong down –4.9%, India down –0.2%, Seoul down -2.9%, and Japan down –2.1%.
European markets are down sharply in a range -3% to -5% half way through their day.
.
American markets futures are down about -2% at 8AM EST.
Obama, the creator of American socialist corruption and the Obama mediocracy, still runs wild. We predict a gradual recovery but with high Obama caused unemployment until the stupid Obama socialists are all voted out of office. When Obama leaves, corporations can safely grow jobs again and unemployment will drop. Right now the Obama socialists are just too stupid to see how their corrupt government meddling to get contributions and kickbacks creates widespread uncertainty and kills jobs everywhere.
Wednesday, September 21, 2011
Right now the Obama socialists are just too stupid to understand how their corrupt government meddling to get contributions and kickbacks… kills jobs
Right now the Obama socialists are just too stupid to understand how their corrupt government meddling to get contributions and kickbacks… kills jobs everywhere.
Obama needs to find a way to tax his appointees and advisors first because he has the mother loadstone of tax dodgers in his government.
Solyndra executives say they will invoke the Fifth Amendment and refuse to answer questions concerning the Obama administration or the political kickbacks and contributions required for their $535 guaranteed loan from Obama. The BBC News series called 'Extreme World' chose Obama’s hometown, Chicago, from all the cities on planet earth for their example of "extreme" corruption for their international series. Gallagher of the BBC personally flew to Chicago on the quest to unearth the deeper forces that have led to the conviction of more than 1500 of Obama’s neighbors on corruption-related charges since 1970. The key questions they tried to address were "How did this corrupt political culture arise?" and "Why does it keeps getting re-elected?" Socialism is the corrupt politician’s first choice for government. Communism however is too “extreme” for them because when caught they are shot in the head and their family pays the cost of the execution. Meanwhile Obama keeps saying that Solyndra applied for loans from Bush too but Obama fails to point out that Bush rejected any loans any money to Solyndra for corrupt Chicago style purposes such as kickbacks and political contributions.
http://www.youtube.com/watch?v=m4dlUVnu8SA&NR=1
Obama also abuses government power by using the justice department to attack honest rating agencies, honest businesses, and honest Republican opposition because they are honest and truthful and point out that Obama has his hands in the pockets of Americans. Obama had a new dream of a socialist America and the whole world now has a new nightmare. At one time America was a leader not an Obama socialist-mediocracy.
Warren Buffett proves the point that parasitic liberals shirk their responsibility and cheat all their way through life. Buffett’s hand picked replacement was not as discrete as Warren and was caught investing in companies before Berkshire Hathaway bought in. Even Treasury Secretary Geithner admitted he cheated on his taxes. Sure Buffett would like to tax other millionaires more but notice he himself still always avoids taxes. It is his choice how he invests his money and if Buffett chooses government bonds he could pay no federal taxes at all. He is too much of a lazy freeloader to pay taxes. Obama does not need a plan to tax millionaires Obama needs a plan to tax lazy free-loading liberals who only want to tax other people’s income. Obama needs to find a way to tax his appointees and advisors first because has the mother loadstone of tax dodgers in his government. Imagine he picked GE’s Immelt as the Obama advisor on creating jobs and GE is the mother of American outsourcing of American jobs! Immelt pays less than 3.5% in GE corporate taxes. Meanwhile Obama taxes real American small businesses at a 35% rate. Why didn’t Obama pick an honest American businessman if he honestly cares about American jobs?
As soon as S&P did the right thing and downgraded the USA for adopting the Obama-Greek-Solyndra greedy, corrupt, squandering, irresponsible spending policy…Obama attacked the S&P just like he previously attacked Bank of America. And like BAC he had the S&P decapitated. Now he is attacking Hedge funds to get them to implicate the S&P to besmirch S&P further. Attacking wealthy organizations is also the top method used by corrupt political machines to drum up campaign contributions. It is also the legal form of coercion socialists like Stalin and Hitler used to get “volunteers” out waving flags and breaking opponent’s windows. Fortunately then Obama had ACORN bus people to picket the personal homes of bank executives to terrorize them; Obama learned a quick lesson that American’s despise those ACORN-Obama “kristallnacht” tactics. When Jews overwhelmingly threw the democrats out in for Congressman Wienie Wiener’s district they sent Obama a new message last week.
Obama also has Holden attacking Texas Republicans to maintain absurd Democrat-socialist districts. If you want to see the obscene model of corrupt Democrat-socialist redistricting you have to look at Barney Frank’s district in Massachusetts. That should be used by the US Supreme Court to give the definition of obscenity. Obama-Holden-Frank won’t fix it either. Make sure you view the top of his district that takes a slice of the inner city to control a very large more Republican suburb. Just see Barney Frank's district!
http://www.govtrack.us/congress/findyourreps.xpd?state=MA&district=4
That is the obscene districting model the Obama-Holden people want to use to control Texas and the whole USA using people who pay no taxes and have no Western European or Asian work ethic. Lets face it most of the world does not want to work for a living. They want a nice government job in a welfare state office and a plasma TV at home. And they will vote for socialism to get everything for nothing from their neighbors. Ultimately they bankrupt the countries they migrate to.
We jut saw Obama’s Solyndra welfare infusion that provided 1000 “green” solar panel jobs for one year at a cost to 835million dollars. That was $835,000 per job and the panels were made in China and only assembled in the USA. We pointed out that the solar cell life cycle neither pays for itself in dollars, nor in energy, nor in reducing pollution and it is not self-sustaining without continuous borrowing from the government. On the other side of the ocean the Chinese are demonstrating because the plant making those solar cell panels is making so much pollution it is killing all the fish. Obama’s had a new dream and the whole world now has a new nightmare.
http://www.time.com/time/world/article/0,8599,2093740,00.html
Washington government bureaucrat pay, insurance and pensions are the first entitlements that need to be cut. Do it now, 25% across the board. They are the cause of our deficit and they yet do not have a clue about the pain they are causing throughout America.
Remember that we had no signs of a recession until idiot Senator Obama became the first American ever in American history to open his big mouth during his campaign and say his opponent (President Bush) was causing an economic depression. Never before did an elected American make such an irresponsible and stupid remark. Intelligent responsible Americans always knew the “D” word is taboo in America because it causes fear. FDR said, “The only thing we have to fear is fear itself” and stupid Obama was the first American to deliberately use the word “depression” to cause fear. Not long after that, idiot Senator Dodd said there was going to be a run on a California bank and his contemptible fear mongering statement from the Senate Banking Committee caused the run on the bank within a few days. Gradually the Dodd-Frank liar loans destroyed the housing industry and the liar-loan derivatives caused the Lehman Brothers collapse. And yes, idiot Obama with his big mouth fear mongering gets all the credit for the Obama economic malaise we will have until we vote Obama and his socialist cretins out in 2012.
Obama has presided over three years where already $1 Trillion dollars has be squandered on programs that accomplish nothing but corruption and redistribution of American wealth through shadow corporations and false identities into Obama campaign coffers for Obama’s buy up the vote campaign. Obama now buys ads using campaign money that go on the air after commentators like Rush. They are made to sound like someone calling in to Rush.
World markets
The world now sees the Obama nightmare of high American debt as the world nightmare starting in 2013.
See German Carnival Parade Humor about European and US Politics
http://1389blog.com/2011/08/30/german-rose-monday-carnival-floats-political-cartoons-in-3d/
http://photos.denverpost.com/mediacenter/2011/03/rosemonday-carnival-parade-in-cologne-germany/
S&P on Monday downgraded Italy by one notch to A with a negative outlook, meaning further downgrades are possible. Stock markets and the euro fell as the eurozone’s third-largest economy falls deeper into the sovereign debt crisis. Today the markets are recovering because a default of Greece is believed 100%.
Still no resolution on Greece. China is pulling dollars out of Europe in retaliation for European disinterest in China’s demand for technology in return for investment. European markets were calmed last week as the US FED, without any authorization from Congress, has begun flooding European banks with liquidity to replace private bank funds that were being pulled out.
China hits new lows. http://finance.yahoo.com/echarts?s=000001.SS+Interactive#chart1:symbol=000001.ss;range=5y;indicator=volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined
Has Germany bottomed yet? Choose 2 or 5 years. We would say yes.
http://finance.yahoo.com/echarts?s=^GDAXI+Interactive#chart1:symbol=^gdaxi;range=3m;indicator=volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined
The Swiss market has also bottomed. Choose 2 or 5 years http://finance.yahoo.com/echarts?s=^SSMI+Interactive#chart2:symbol=^ssmi;range=2y;indicator=volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined
Emerging markets are in recovery.
http://finance.yahoo.com/echarts?s=^BVSP+Interactive#chart1:symbol=^bvsp;range=2y;indicator=volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined
American Economy-
Last week summary
MBA Mortgage listing Index 09/03 -4.9% up considerably from last month’s -9.6%. This is the first of the good news we predicted starting for housing.
MBA Mortgage Purchase Index 09/10 up +6.3% after being down -4.9% last month. Great news again for housing.
Core CPI Aug remained constant at 0.2%… no inflation
Industrial Production Aug increased 0.2% down from 0.9% last month. Still a 2.4% annual rate
Philadelphia Fed Sep -17.5 a big improvement from last months -30.7
Net long-term TIC Flows Jul $9.vs $3.7B means foreign investment in the USA increased.
Sep 16 9:55 AM Mich Sentiment Sep 57.8 up from 55.7 but still very low.
NAHB Housing Market Index Sep was 14 just slightly lower than last months 15. This finally seems to be bottoming out and is more evidence the housing market is turning around. Remember GE/MSNBC/Pravda’s Jim Crammer claimed the market already bottomed in July two years ago. That is the accuracy of MSNBC/Pravda’s commentary.
Yesterday
Housing Starts Aug 571K down from 604K last month
Building Permits Aug of 620K while down to 597K they exceed for the first time the houses built in each of the previous two months. Since most permits generate houses this seems to be a turning point.
FOMC Rate Decision Sep unchanged ( 0.25%) from August.
We need to see Home Sales pick up next
This Week
Sep 21 7:00 AM MBA Mortgage Index 09/17
Sep 21 10:00 AM Existing Home Sales Aug
Sep 21 10:30 AM Crude Inventories 09/17
Sep 21 2:15 PM FOMC Rate Decision Sep
Sep 22 8:30 AM Initial Claims 09/17
Sep 22 8:30 AM Continuing Claims 09/10
Sep 22 10:00 AM FHFA Housing Price Index Jul
Sep 22 10:00 AM Leading Indicators Aug
Market Outlook September 21 2011
It is good news that housing starts are moving up and construction spending appears to have bottomed out. We need to see Home Sales pick up next
http://www.martincapital.com/index.php?page=graph&view=permits_and_construction
The only thing stopping this emerging economic boom is negative barking Obama and his rules and Obamacrap legislation that the democrats and socialists passed without even reading. When he takes his $Billion campaign war chest and moves it to a bank in Nigeria we will know the Obama malaise is finally leaving the USA.
We expect the VIX to continue to decline as the panic of smaller investors subsides similar to after the flash crash of May 6, 2010
http://finance.yahoo.com/q/bc?s=^VIX&t=2y&l=on&z=m&q=l&c=
So far the trading range of equities has not even tested the resistance levels. We expect a normal advance of up to at least 50% of the total August decline. See:
http://finance.yahoo.com/q/ta?s=^NYA&t=1y&l=on&z=l&q=l&p=e50%2Ce100&a=&c=
Bulk trade seems to have bottomed and is finally improving. See 1yr chart at:
http://www.bloomberg.com/apps/quote?ticker=BDIY:IND
Stock market update:
Asian Stocks were mixed last night. China up 2.7%, Hong Kong down -1%, India down –0.2%, Seoul up 0.9%, and Japan up 0.2%.
European markets are up mixed in a range -0.9% to 0.8% half way through their day.
.
American markets futures are up about 0.2% at 7AM EST.
Corporations have over $500 billion in cash to invest and it does not look like they will invest in jobs as long as Obamacrap socialized medicine and new Obamacrap taxes loom. Obama is just stupid enough to try to destroy the corporate cash position with his harassment tactics. Obama stupidly causes businesses to have to cover themselves for Obama threats rather than spend for creating jobs. Never underestimate Obama’s stupidity. Corporate cash can also be used to buy real estate, capital equipment, corporate stock or to fund mergers when it is clear there will be no double dip recession.
Obama, the creator of American socialist corruption and the Obama mediocracy, still runs wild. We predict a gradual recovery but with high Obama caused unemployment until the stupid Obama socialists are all voted out of office. When Obama leaves, corporations can safely grow jobs again and unemployment will drop. Right now the Obama socialists are just too stupid to see how their corrupt government meddling to get contributions and kickbacks kills jobs everywhere.
Obama needs to find a way to tax his appointees and advisors first because he has the mother loadstone of tax dodgers in his government.
Solyndra executives say they will invoke the Fifth Amendment and refuse to answer questions concerning the Obama administration or the political kickbacks and contributions required for their $535 guaranteed loan from Obama. The BBC News series called 'Extreme World' chose Obama’s hometown, Chicago, from all the cities on planet earth for their example of "extreme" corruption for their international series. Gallagher of the BBC personally flew to Chicago on the quest to unearth the deeper forces that have led to the conviction of more than 1500 of Obama’s neighbors on corruption-related charges since 1970. The key questions they tried to address were "How did this corrupt political culture arise?" and "Why does it keeps getting re-elected?" Socialism is the corrupt politician’s first choice for government. Communism however is too “extreme” for them because when caught they are shot in the head and their family pays the cost of the execution. Meanwhile Obama keeps saying that Solyndra applied for loans from Bush too but Obama fails to point out that Bush rejected any loans any money to Solyndra for corrupt Chicago style purposes such as kickbacks and political contributions.
http://www.youtube.com/watch?v=m4dlUVnu8SA&NR=1
Obama also abuses government power by using the justice department to attack honest rating agencies, honest businesses, and honest Republican opposition because they are honest and truthful and point out that Obama has his hands in the pockets of Americans. Obama had a new dream of a socialist America and the whole world now has a new nightmare. At one time America was a leader not an Obama socialist-mediocracy.
Warren Buffett proves the point that parasitic liberals shirk their responsibility and cheat all their way through life. Buffett’s hand picked replacement was not as discrete as Warren and was caught investing in companies before Berkshire Hathaway bought in. Even Treasury Secretary Geithner admitted he cheated on his taxes. Sure Buffett would like to tax other millionaires more but notice he himself still always avoids taxes. It is his choice how he invests his money and if Buffett chooses government bonds he could pay no federal taxes at all. He is too much of a lazy freeloader to pay taxes. Obama does not need a plan to tax millionaires Obama needs a plan to tax lazy free-loading liberals who only want to tax other people’s income. Obama needs to find a way to tax his appointees and advisors first because has the mother loadstone of tax dodgers in his government. Imagine he picked GE’s Immelt as the Obama advisor on creating jobs and GE is the mother of American outsourcing of American jobs! Immelt pays less than 3.5% in GE corporate taxes. Meanwhile Obama taxes real American small businesses at a 35% rate. Why didn’t Obama pick an honest American businessman if he honestly cares about American jobs?
As soon as S&P did the right thing and downgraded the USA for adopting the Obama-Greek-Solyndra greedy, corrupt, squandering, irresponsible spending policy…Obama attacked the S&P just like he previously attacked Bank of America. And like BAC he had the S&P decapitated. Now he is attacking Hedge funds to get them to implicate the S&P to besmirch S&P further. Attacking wealthy organizations is also the top method used by corrupt political machines to drum up campaign contributions. It is also the legal form of coercion socialists like Stalin and Hitler used to get “volunteers” out waving flags and breaking opponent’s windows. Fortunately then Obama had ACORN bus people to picket the personal homes of bank executives to terrorize them; Obama learned a quick lesson that American’s despise those ACORN-Obama “kristallnacht” tactics. When Jews overwhelmingly threw the democrats out in for Congressman Wienie Wiener’s district they sent Obama a new message last week.
Obama also has Holden attacking Texas Republicans to maintain absurd Democrat-socialist districts. If you want to see the obscene model of corrupt Democrat-socialist redistricting you have to look at Barney Frank’s district in Massachusetts. That should be used by the US Supreme Court to give the definition of obscenity. Obama-Holden-Frank won’t fix it either. Make sure you view the top of his district that takes a slice of the inner city to control a very large more Republican suburb. Just see Barney Frank's district!
http://www.govtrack.us/congress/findyourreps.xpd?state=MA&district=4
That is the obscene districting model the Obama-Holden people want to use to control Texas and the whole USA using people who pay no taxes and have no Western European or Asian work ethic. Lets face it most of the world does not want to work for a living. They want a nice government job in a welfare state office and a plasma TV at home. And they will vote for socialism to get everything for nothing from their neighbors. Ultimately they bankrupt the countries they migrate to.
We jut saw Obama’s Solyndra welfare infusion that provided 1000 “green” solar panel jobs for one year at a cost to 835million dollars. That was $835,000 per job and the panels were made in China and only assembled in the USA. We pointed out that the solar cell life cycle neither pays for itself in dollars, nor in energy, nor in reducing pollution and it is not self-sustaining without continuous borrowing from the government. On the other side of the ocean the Chinese are demonstrating because the plant making those solar cell panels is making so much pollution it is killing all the fish. Obama’s had a new dream and the whole world now has a new nightmare.
http://www.time.com/time/world/article/0,8599,2093740,00.html
Washington government bureaucrat pay, insurance and pensions are the first entitlements that need to be cut. Do it now, 25% across the board. They are the cause of our deficit and they yet do not have a clue about the pain they are causing throughout America.
Remember that we had no signs of a recession until idiot Senator Obama became the first American ever in American history to open his big mouth during his campaign and say his opponent (President Bush) was causing an economic depression. Never before did an elected American make such an irresponsible and stupid remark. Intelligent responsible Americans always knew the “D” word is taboo in America because it causes fear. FDR said, “The only thing we have to fear is fear itself” and stupid Obama was the first American to deliberately use the word “depression” to cause fear. Not long after that, idiot Senator Dodd said there was going to be a run on a California bank and his contemptible fear mongering statement from the Senate Banking Committee caused the run on the bank within a few days. Gradually the Dodd-Frank liar loans destroyed the housing industry and the liar-loan derivatives caused the Lehman Brothers collapse. And yes, idiot Obama with his big mouth fear mongering gets all the credit for the Obama economic malaise we will have until we vote Obama and his socialist cretins out in 2012.
Obama has presided over three years where already $1 Trillion dollars has be squandered on programs that accomplish nothing but corruption and redistribution of American wealth through shadow corporations and false identities into Obama campaign coffers for Obama’s buy up the vote campaign. Obama now buys ads using campaign money that go on the air after commentators like Rush. They are made to sound like someone calling in to Rush.
World markets
The world now sees the Obama nightmare of high American debt as the world nightmare starting in 2013.
See German Carnival Parade Humor about European and US Politics
http://1389blog.com/2011/08/30/german-rose-monday-carnival-floats-political-cartoons-in-3d/
http://photos.denverpost.com/mediacenter/2011/03/rosemonday-carnival-parade-in-cologne-germany/
S&P on Monday downgraded Italy by one notch to A with a negative outlook, meaning further downgrades are possible. Stock markets and the euro fell as the eurozone’s third-largest economy falls deeper into the sovereign debt crisis. Today the markets are recovering because a default of Greece is believed 100%.
Still no resolution on Greece. China is pulling dollars out of Europe in retaliation for European disinterest in China’s demand for technology in return for investment. European markets were calmed last week as the US FED, without any authorization from Congress, has begun flooding European banks with liquidity to replace private bank funds that were being pulled out.
China hits new lows. http://finance.yahoo.com/echarts?s=000001.SS+Interactive#chart1:symbol=000001.ss;range=5y;indicator=volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined
Has Germany bottomed yet? Choose 2 or 5 years. We would say yes.
http://finance.yahoo.com/echarts?s=^GDAXI+Interactive#chart1:symbol=^gdaxi;range=3m;indicator=volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined
The Swiss market has also bottomed. Choose 2 or 5 years http://finance.yahoo.com/echarts?s=^SSMI+Interactive#chart2:symbol=^ssmi;range=2y;indicator=volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined
Emerging markets are in recovery.
http://finance.yahoo.com/echarts?s=^BVSP+Interactive#chart1:symbol=^bvsp;range=2y;indicator=volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined
American Economy-
Last week summary
MBA Mortgage listing Index 09/03 -4.9% up considerably from last month’s -9.6%. This is the first of the good news we predicted starting for housing.
MBA Mortgage Purchase Index 09/10 up +6.3% after being down -4.9% last month. Great news again for housing.
Core CPI Aug remained constant at 0.2%… no inflation
Industrial Production Aug increased 0.2% down from 0.9% last month. Still a 2.4% annual rate
Philadelphia Fed Sep -17.5 a big improvement from last months -30.7
Net long-term TIC Flows Jul $9.vs $3.7B means foreign investment in the USA increased.
Sep 16 9:55 AM Mich Sentiment Sep 57.8 up from 55.7 but still very low.
NAHB Housing Market Index Sep was 14 just slightly lower than last months 15. This finally seems to be bottoming out and is more evidence the housing market is turning around. Remember GE/MSNBC/Pravda’s Jim Crammer claimed the market already bottomed in July two years ago. That is the accuracy of MSNBC/Pravda’s commentary.
Yesterday
Housing Starts Aug 571K down from 604K last month
Building Permits Aug of 620K while down to 597K they exceed for the first time the houses built in each of the previous two months. Since most permits generate houses this seems to be a turning point.
FOMC Rate Decision Sep unchanged ( 0.25%) from August.
We need to see Home Sales pick up next
This Week
Sep 21 7:00 AM MBA Mortgage Index 09/17
Sep 21 10:00 AM Existing Home Sales Aug
Sep 21 10:30 AM Crude Inventories 09/17
Sep 21 2:15 PM FOMC Rate Decision Sep
Sep 22 8:30 AM Initial Claims 09/17
Sep 22 8:30 AM Continuing Claims 09/10
Sep 22 10:00 AM FHFA Housing Price Index Jul
Sep 22 10:00 AM Leading Indicators Aug
Market Outlook September 21 2011
It is good news that housing starts are moving up and construction spending appears to have bottomed out. We need to see Home Sales pick up next
http://www.martincapital.com/index.php?page=graph&view=permits_and_construction
The only thing stopping this emerging economic boom is negative barking Obama and his rules and Obamacrap legislation that the democrats and socialists passed without even reading. When he takes his $Billion campaign war chest and moves it to a bank in Nigeria we will know the Obama malaise is finally leaving the USA.
We expect the VIX to continue to decline as the panic of smaller investors subsides similar to after the flash crash of May 6, 2010
http://finance.yahoo.com/q/bc?s=^VIX&t=2y&l=on&z=m&q=l&c=
So far the trading range of equities has not even tested the resistance levels. We expect a normal advance of up to at least 50% of the total August decline. See:
http://finance.yahoo.com/q/ta?s=^NYA&t=1y&l=on&z=l&q=l&p=e50%2Ce100&a=&c=
Bulk trade seems to have bottomed and is finally improving. See 1yr chart at:
http://www.bloomberg.com/apps/quote?ticker=BDIY:IND
Stock market update:
Asian Stocks were mixed last night. China up 2.7%, Hong Kong down -1%, India down –0.2%, Seoul up 0.9%, and Japan up 0.2%.
European markets are up mixed in a range -0.9% to 0.8% half way through their day.
.
American markets futures are up about 0.2% at 7AM EST.
Corporations have over $500 billion in cash to invest and it does not look like they will invest in jobs as long as Obamacrap socialized medicine and new Obamacrap taxes loom. Obama is just stupid enough to try to destroy the corporate cash position with his harassment tactics. Obama stupidly causes businesses to have to cover themselves for Obama threats rather than spend for creating jobs. Never underestimate Obama’s stupidity. Corporate cash can also be used to buy real estate, capital equipment, corporate stock or to fund mergers when it is clear there will be no double dip recession.
Obama, the creator of American socialist corruption and the Obama mediocracy, still runs wild. We predict a gradual recovery but with high Obama caused unemployment until the stupid Obama socialists are all voted out of office. When Obama leaves, corporations can safely grow jobs again and unemployment will drop. Right now the Obama socialists are just too stupid to see how their corrupt government meddling to get contributions and kickbacks kills jobs everywhere.
Tuesday, September 20, 2011
Obama had a new dream and the whole world now has a new nightmare. Obama abuses government power by using the justice department to attack S&P.
Obama abuses government power by using the justice department to attack rating agencies, businesses and Republican opposition who are honest and truthful. Obama had a new dream and the whole world now has a new nightmare.
As soon as S&P did the right thing and downgraded the USA for adopting the Obama-Greek-Solyndra greedy, corrupt, squandering, irresponsible spending policy…Obama attacked the S&P just like he previously attacked Bank of America. And like BAC he had the S&P decapitated. Now he is attacking Hedge funds to get them to implicate the S&P to besmirch S&P further. Attacking wealthy organizations is also the top method used by corrupt political machines to drum up campaign contributions. It is the legal form of coercion socialists like Stalin and Hitler used to get “volunteers” out waving flags and breaking opponent’s windows. Fortunately then Obama had ACORN bus people to picket the personal homes of bank executives; Obama learned a quick lesson that American’s despise those “kristallnacht” tactics.
Obama also has Holden attacking Texas Republicans to maintain absurd Democrat-socialist districts. If you want to see the obscene model of corrupt Democrat-socialist redistricting you have to look at Barney Frank’s district in Massachusetts. That should be used by the US Supreme Court to give the definition of obscenity. Obama-Holden-Frank won’t fix it either. Make sure you view the top of his district that takes a slice of the inner city to control a very large more Republican suburb. Just see Barney Frank's district!
http://www.govtrack.us/congress/findyourreps.xpd?state=MA&district=4
That is the obscene districting model the Obama-Holden people want to use to control Texas and the whole USA using people who pay no taxes and have no Western European or Asian work ethic. Lets face it most of the world does not want to work for a living. They want a nice government job in a welfare office and a plasma TV at home. And they will vote for socialism to get everything for nothing from their neighbors. Ultimately they bankrupt the countries they migrate to.
We jut saw Obama’s welfare infusion that provided 1000 solar panel jobs for one year at a cost to 835million dollars. That was $835,000 per job and the panels were made in China and only assembled in the USA. We commented that the solar cell life cycle neither pays for itself in dollars nor in energy and it is not self-sustaining without continuous borrowing from the government. On the other side of the ocean the Chinese are demonstrating because the plant making those solar cell panels is making so much pollution it is killing all the fish. Obama’s had a new dream and the whole world now has a new nightmare.
http://www.time.com/time/world/article/0,8599,2093740,00.html
Washington government bureaucrat pay, insurance and pensions are the first entitlements that need to be cut. Do it now, 25% across the board. They are the cause of our deficit and they yet do not have a clue about the pain they are causing throughout America.
Remember that we had no signs of a recession until idiot Senator Obama became the first American ever in American history to open his big mouth during his campaign and say his opponent (President Bush) was causing an economic depression. Never before did an elected American make such an irresponsible and stupid remark. Intelligent responsible Americans always knew the “D” word is taboo in America because it causes fear. FDR said, “The only thing we have to fear is fear itself” and stupid Obama was the first American to deliberately use the word “depression” to cause fear. Not long after that, idiot Senator Dodd said there was going to be a run on a California bank and his contemptible fear mongering statement from the Senate Banking Committee caused the run on the bank within a few days. Gradually the Dodd-Frank liar loans destroyed the housing industry and the liar-loan derivatives caused the Lehman Brothers collapse. And yes, idiot Obama with his big mouth fear mongering gets all the credit for the Obama economic malaise we will have until we vote Obama and his socialist cretins out in 2012.
Obama has presided over three years where already $1 Trillion dollars has be squandered on programs that accomplish nothing but corruption and redistribution of American wealth through shadow corporations and false identities into Obama campaign coffers for Obama’s buy up the vote campaign. Obama now buys ads using campaign money that go on the air after commentators like Rush. They are made to sound like someone calling in to Rush.
World markets
S&P on Monday downgraded Italy by one notch to A with a negative outlook, meaning further downgrades are possible. Stock markets and the euro fell as the eurozone’s third-largest economy falls deeper into the sovereign debt crisis. Today the markets are recovering because a default of Greece is believed 100%.
China is pulling dollars out of Europe in retaliation for European disinterest in China’s demand for technology in return for investment. European markets were calmed last week as the US FED, without any authorization from Congress has begun flooding European banks with liquidity to replace private bank funds that were being pulled out.
China hits new lows. http://finance.yahoo.com/echarts?s=000001.SS+Interactive#chart1:symbol=000001.ss;range=5y;indicator=volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined
Has Germany bottomed yet? Choose 2 or 5 years. We would say yes.
http://finance.yahoo.com/echarts?s=^GDAXI+Interactive#chart1:symbol=^gdaxi;range=3m;indicator=volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined
The Swiss market has also bottomed. Choose 2 or 5 years http://finance.yahoo.com/echarts?s=^SSMI+Interactive#chart2:symbol=^ssmi;range=2y;indicator=volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined
Emerging markets are in recovery.
http://finance.yahoo.com/echarts?s=^BVSP+Interactive#chart1:symbol=^bvsp;range=2y;indicator=volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined
American Economy-
Last week summary
MBA Mortgage listing Index 09/03 -4.9% up considerably from last month’s -9.6%. This is the first of the good news we predicted starting for housing.
MBA Mortgage Purchase Index 09/10 up +6.3% after being down -4.9% last month. Great news again for housing.
Core CPI Aug remained constant at 0.2%… no inflation
Industrial Production Aug increased 0.2% down from 0.9% last month. Still a 2.4% annual rate
Philadelphia Fed Sep -17.5 a big improvement from last months -30.7
Net long-term TIC Flows Jul $9.vs $3.7B means foreign investment in the USA increased.
Sep 16 9:55 AM Mich Sentiment Sep 57.8 up from 55.7 but still very low.
Yesterday
NAHB Housing Market Index Sep was 14 just slightly lower than last months 15. This finally seems to be bottoming out and is more evidence the housing market is turning around. Remember GE/MSNBC/Pravda’s Jim Crammer claimed the market already bottomed in July two years ago. That is the accuracy of MSNBC/Pravda’s commentary.
This Week
Sep 20 8:30 AM Housing Starts Aug
Sep 20 8:30 AM Building Permits Aug
Sep 20 2:15 PM FOMC Rate Decision Sep
Sep 21 7:00 AM MBA Mortgage Index 09/17
Sep 21 10:00 AM Existing Home Sales Aug
Sep 21 10:30 AM Crude Inventories 09/17
Sep 21 2:15 PM FOMC Rate Decision Sep
Sep 22 8:30 AM Initial Claims 09/17
Sep 22 8:30 AM Continuing Claims 09/10
Sep 22 10:00 AM FHFA Housing Price Index Jul
Sep 22 10:00 AM Leading Indicators Aug
Market Outlook September 20 2011
China’s demand for American car technology in return for permission to sell American cars in China is an obscene and corrupt aspect of international communism. GE’s socialist Immelt has already given away aerospace technology to get a GE business deal. If leftist Obama were not the US president the USA would have China already up on World Trade Court charges for China’s corruption and piracy in the Chinese trade policy. Unfortunately Obama’s cowardice now only encourages China to be more aggressive. China could be the kind of WWIII enemy Obama wants to lose to, to destroy free enterprise.
It is good news that foreclosures just rose 30% last month. The sooner mortgage defaults are cleared from the banks the sooner credit ratings will be re-established and the housing segment will recover and create many real jobs. We predicted a rise in home sales is stating and the MBA Mortgage Purchase Index rose last Wednesday by 6.3% breaking its downward trend. We predict business will now begin to use their “war chest” to buy assets that have fallen so far in value due to Obama’s seemingly unlimited ability to destroy everything he touches with Obama’s fear mongering, his contempt for the American Constitution and the American people. Americans are positively sick of Obama’s incessant apologizing to the world for American exceptionalism.
The only thing stopping this emerging economic boom is negative barking Obama and his rules and Obamacrap legislation that the democrats and socialists passed without even reading. When he takes his $Billion campaign war chest and moves it to a bank in Nigeria we will know the Obama malaise is finally leaving the USA.
We expect the VIX to continue to decline as the panic of smaller investors subsides similar to after the flash crash of May 6, 2010
http://finance.yahoo.com/q/bc?s=^VIX&t=2y&l=on&z=m&q=l&c=
So far the trading range of equities has not even tested the resistance levels. We expect a normal advance of up to at least 50% of the total August decline. See:
http://finance.yahoo.com/q/ta?s=^NYA&t=1y&l=on&z=l&q=l&p=e50%2Ce100&a=&c=
Bulk trade seems to have bottomed and is finally improving. See 1yr chart at:
http://www.bloomberg.com/apps/quote?ticker=BDIY:IND
Stock market update:
Asian Stocks were up last night. China up 0.4%, Hong Kong up 0.5%, India up 2.1%, Seoul up 0.9%, and Japan down 1.6% because they missed the sell-off Friday.
European markets are up today in a range 0.9% to 2.1% half way through their day.
.
American markets futures are up about 0.8% at 8 AM EST.
Corporations have over $500 billion in cash to invest and it does not look like they will invest in jobs as long as Obamacrap socialized medicine and new Obamacrap taxes loom. Obama is just stupid enough to try to destroy the corporate cash position with his harassment tactics. Obama stupidly causes businesses to have to cover themselves for Obama threats rather than spend for creating jobs. Never underestimate Obama’s stupidity.
Obama is the creator of “job killer rules”. Corporate cash can also be used to buy real estate, capital equipment, corporate stock or to fund mergers when it is clear there will be no double dip recession. We predict a recovery with high unemployment beginning now until the stupid Obama socialists are all voted out of office. When Obama leaves, unemployment will drop and corporations will grow jobs. Right now the Obama socialists are just too stupid to see how their rules and regulations kill jobs everywhere.
As soon as S&P did the right thing and downgraded the USA for adopting the Obama-Greek-Solyndra greedy, corrupt, squandering, irresponsible spending policy…Obama attacked the S&P just like he previously attacked Bank of America. And like BAC he had the S&P decapitated. Now he is attacking Hedge funds to get them to implicate the S&P to besmirch S&P further. Attacking wealthy organizations is also the top method used by corrupt political machines to drum up campaign contributions. It is the legal form of coercion socialists like Stalin and Hitler used to get “volunteers” out waving flags and breaking opponent’s windows. Fortunately then Obama had ACORN bus people to picket the personal homes of bank executives; Obama learned a quick lesson that American’s despise those “kristallnacht” tactics.
Obama also has Holden attacking Texas Republicans to maintain absurd Democrat-socialist districts. If you want to see the obscene model of corrupt Democrat-socialist redistricting you have to look at Barney Frank’s district in Massachusetts. That should be used by the US Supreme Court to give the definition of obscenity. Obama-Holden-Frank won’t fix it either. Make sure you view the top of his district that takes a slice of the inner city to control a very large more Republican suburb. Just see Barney Frank's district!
http://www.govtrack.us/congress/findyourreps.xpd?state=MA&district=4
That is the obscene districting model the Obama-Holden people want to use to control Texas and the whole USA using people who pay no taxes and have no Western European or Asian work ethic. Lets face it most of the world does not want to work for a living. They want a nice government job in a welfare office and a plasma TV at home. And they will vote for socialism to get everything for nothing from their neighbors. Ultimately they bankrupt the countries they migrate to.
We jut saw Obama’s welfare infusion that provided 1000 solar panel jobs for one year at a cost to 835million dollars. That was $835,000 per job and the panels were made in China and only assembled in the USA. We commented that the solar cell life cycle neither pays for itself in dollars nor in energy and it is not self-sustaining without continuous borrowing from the government. On the other side of the ocean the Chinese are demonstrating because the plant making those solar cell panels is making so much pollution it is killing all the fish. Obama’s had a new dream and the whole world now has a new nightmare.
http://www.time.com/time/world/article/0,8599,2093740,00.html
Washington government bureaucrat pay, insurance and pensions are the first entitlements that need to be cut. Do it now, 25% across the board. They are the cause of our deficit and they yet do not have a clue about the pain they are causing throughout America.
Remember that we had no signs of a recession until idiot Senator Obama became the first American ever in American history to open his big mouth during his campaign and say his opponent (President Bush) was causing an economic depression. Never before did an elected American make such an irresponsible and stupid remark. Intelligent responsible Americans always knew the “D” word is taboo in America because it causes fear. FDR said, “The only thing we have to fear is fear itself” and stupid Obama was the first American to deliberately use the word “depression” to cause fear. Not long after that, idiot Senator Dodd said there was going to be a run on a California bank and his contemptible fear mongering statement from the Senate Banking Committee caused the run on the bank within a few days. Gradually the Dodd-Frank liar loans destroyed the housing industry and the liar-loan derivatives caused the Lehman Brothers collapse. And yes, idiot Obama with his big mouth fear mongering gets all the credit for the Obama economic malaise we will have until we vote Obama and his socialist cretins out in 2012.
Obama has presided over three years where already $1 Trillion dollars has be squandered on programs that accomplish nothing but corruption and redistribution of American wealth through shadow corporations and false identities into Obama campaign coffers for Obama’s buy up the vote campaign. Obama now buys ads using campaign money that go on the air after commentators like Rush. They are made to sound like someone calling in to Rush.
World markets
S&P on Monday downgraded Italy by one notch to A with a negative outlook, meaning further downgrades are possible. Stock markets and the euro fell as the eurozone’s third-largest economy falls deeper into the sovereign debt crisis. Today the markets are recovering because a default of Greece is believed 100%.
China is pulling dollars out of Europe in retaliation for European disinterest in China’s demand for technology in return for investment. European markets were calmed last week as the US FED, without any authorization from Congress has begun flooding European banks with liquidity to replace private bank funds that were being pulled out.
China hits new lows. http://finance.yahoo.com/echarts?s=000001.SS+Interactive#chart1:symbol=000001.ss;range=5y;indicator=volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined
Has Germany bottomed yet? Choose 2 or 5 years. We would say yes.
http://finance.yahoo.com/echarts?s=^GDAXI+Interactive#chart1:symbol=^gdaxi;range=3m;indicator=volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined
The Swiss market has also bottomed. Choose 2 or 5 years http://finance.yahoo.com/echarts?s=^SSMI+Interactive#chart2:symbol=^ssmi;range=2y;indicator=volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined
Emerging markets are in recovery.
http://finance.yahoo.com/echarts?s=^BVSP+Interactive#chart1:symbol=^bvsp;range=2y;indicator=volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined
American Economy-
Last week summary
MBA Mortgage listing Index 09/03 -4.9% up considerably from last month’s -9.6%. This is the first of the good news we predicted starting for housing.
MBA Mortgage Purchase Index 09/10 up +6.3% after being down -4.9% last month. Great news again for housing.
Core CPI Aug remained constant at 0.2%… no inflation
Industrial Production Aug increased 0.2% down from 0.9% last month. Still a 2.4% annual rate
Philadelphia Fed Sep -17.5 a big improvement from last months -30.7
Net long-term TIC Flows Jul $9.vs $3.7B means foreign investment in the USA increased.
Sep 16 9:55 AM Mich Sentiment Sep 57.8 up from 55.7 but still very low.
Yesterday
NAHB Housing Market Index Sep was 14 just slightly lower than last months 15. This finally seems to be bottoming out and is more evidence the housing market is turning around. Remember GE/MSNBC/Pravda’s Jim Crammer claimed the market already bottomed in July two years ago. That is the accuracy of MSNBC/Pravda’s commentary.
This Week
Sep 20 8:30 AM Housing Starts Aug
Sep 20 8:30 AM Building Permits Aug
Sep 20 2:15 PM FOMC Rate Decision Sep
Sep 21 7:00 AM MBA Mortgage Index 09/17
Sep 21 10:00 AM Existing Home Sales Aug
Sep 21 10:30 AM Crude Inventories 09/17
Sep 21 2:15 PM FOMC Rate Decision Sep
Sep 22 8:30 AM Initial Claims 09/17
Sep 22 8:30 AM Continuing Claims 09/10
Sep 22 10:00 AM FHFA Housing Price Index Jul
Sep 22 10:00 AM Leading Indicators Aug
Market Outlook September 20 2011
China’s demand for American car technology in return for permission to sell American cars in China is an obscene and corrupt aspect of international communism. GE’s socialist Immelt has already given away aerospace technology to get a GE business deal. If leftist Obama were not the US president the USA would have China already up on World Trade Court charges for China’s corruption and piracy in the Chinese trade policy. Unfortunately Obama’s cowardice now only encourages China to be more aggressive. China could be the kind of WWIII enemy Obama wants to lose to, to destroy free enterprise.
It is good news that foreclosures just rose 30% last month. The sooner mortgage defaults are cleared from the banks the sooner credit ratings will be re-established and the housing segment will recover and create many real jobs. We predicted a rise in home sales is stating and the MBA Mortgage Purchase Index rose last Wednesday by 6.3% breaking its downward trend. We predict business will now begin to use their “war chest” to buy assets that have fallen so far in value due to Obama’s seemingly unlimited ability to destroy everything he touches with Obama’s fear mongering, his contempt for the American Constitution and the American people. Americans are positively sick of Obama’s incessant apologizing to the world for American exceptionalism.
The only thing stopping this emerging economic boom is negative barking Obama and his rules and Obamacrap legislation that the democrats and socialists passed without even reading. When he takes his $Billion campaign war chest and moves it to a bank in Nigeria we will know the Obama malaise is finally leaving the USA.
We expect the VIX to continue to decline as the panic of smaller investors subsides similar to after the flash crash of May 6, 2010
http://finance.yahoo.com/q/bc?s=^VIX&t=2y&l=on&z=m&q=l&c=
So far the trading range of equities has not even tested the resistance levels. We expect a normal advance of up to at least 50% of the total August decline. See:
http://finance.yahoo.com/q/ta?s=^NYA&t=1y&l=on&z=l&q=l&p=e50%2Ce100&a=&c=
Bulk trade seems to have bottomed and is finally improving. See 1yr chart at:
http://www.bloomberg.com/apps/quote?ticker=BDIY:IND
Stock market update:
Asian Stocks were up last night. China up 0.4%, Hong Kong up 0.5%, India up 2.1%, Seoul up 0.9%, and Japan down 1.6% because they missed the sell-off Friday.
European markets are up today in a range 0.9% to 2.1% half way through their day.
.
American markets futures are up about 0.8% at 8 AM EST.
Corporations have over $500 billion in cash to invest and it does not look like they will invest in jobs as long as Obamacrap socialized medicine and new Obamacrap taxes loom. Obama is just stupid enough to try to destroy the corporate cash position with his harassment tactics. Obama stupidly causes businesses to have to cover themselves for Obama threats rather than spend for creating jobs. Never underestimate Obama’s stupidity.
Obama is the creator of “job killer rules”. Corporate cash can also be used to buy real estate, capital equipment, corporate stock or to fund mergers when it is clear there will be no double dip recession. We predict a recovery with high unemployment beginning now until the stupid Obama socialists are all voted out of office. When Obama leaves, unemployment will drop and corporations will grow jobs. Right now the Obama socialists are just too stupid to see how their rules and regulations kill jobs everywhere.
Monday, September 19, 2011
"There are two ways to conquer and enslave a nation. One is by the sword. The other is by debt." -John Adams
FED Operation twist would/could liquidate short term debt while selling long term treasuries thus buying a longer time cushion before any increase in interest rates for USA debt. It would give a jolt now of economic optimism and buy many years until any Greek type USA default. But as with any quick fixes it only pushes off the day of reckoning as the Japanese have done instead of cutting the size of government and solving the debt problem today. What QE2 did was inflated the balance sheet with liquidity to avoid another freeze up like when NYC’s debt financing market evaporated at the beginning of the crisis because banks stopped loaning money to each other.
The vast majority of investors and 99.9% of gold buyers at these extremely high gold prices do not have a clue as to how the world money supply works today. We are no longer a money supply driven world as we were in the 1700’s and 1800’s when money supply was actually the amount of money in circulation and Britain triggered a recession in the American colonies just by taxing the colonies and thus taking currency out of circulation.
"There are two ways to conquer and enslave a nation. One is by the sword. The other is by debt."
John Adams
"[It was] the poverty caused by the bad influence of the English bankers on the Parliament which has caused in the colonies hatred of the English and . . . the Revolutionary War."
- Benjamin Franklin
British taxes were the major cause of the revolution and America was forced to allow states and private banks to print their own currencies to create liquidity. The “Continental” became the American currency but after the American Revolution the term, “It isn’t worth a Continental” was a way to say something was worthless. Jefferson saw that high government spending was a path to a tyranny of a government regulatory bureaucracy.
It is hard to even imagine that at one time your local bank could print money. Jefferson saw that the private banks and corporations printing currencies was a source of power and instability and only the federal government should have that function.
"If the American people ever allow the banks to control the issuance of their currency, first by inflation, and then by deflation, the banks and corporations that will grow up around them will deprive the people of all property, until their children wake up homeless on the continent their fathers conquered. The issuing power of money should be taken from banks and restored to Congress and the people to whom it belongs. I sincerely believe the banking institutions having the issuing power of money, are more dangerous to liberty than standing armies."
Thomas Jefferson
But even with the US treasury controlling the currency we could not allow government to take the easy road to perdition.
To preserve your independence, we must not let our leaders load us with perpetual debt. We must make our choice between economy and liberty... or profusion and servitude."
-- Thomas Jefferson
Today the “velocity” of money (how many times a dollar changes hands in a week) and the “multiplier” (the inverse of the reserve requirement) cause the illusion that there is a lot of paper money in circulation. That is definitely not the case. If the credit card business froze up there would be very little cash to buy groceries, essentially the small amount of cash people spend today. There would be no money to support the price of gold. We do not have wheel barrels of cash, we have very little cash so the 1920 type hyperinflation that Germany experienced could not happen. In fact another recession or even a depression is a much higher risk still than even a Jimmy Carter spike in inflation.
There will not be many real jobs created until Obama resigns or is voted out of office. If Obama cared about America he would resign. He is like a bumbling Igor specter hovering over America business. Igor for those who do not know was the menacing ignorant, spastic, and grunting assistant to Frankenstein.
Washington government bureaucrat pay, insurance and pensions are the first entitlements that need to be cut. Do it now, 25% across the board. They are the cause of our deficit and they yet do not have a clue about the pain they are causing throughout America.
Remember that we had no signs of a recession until Senator Obama became the first American ever in American history to say his opponent (President Bush) was causing an economic depression. Intelligent responsible Americans always knew the “D” word is taboo in America because it causes fear. FDR said, “The only thing we have to fear is fear itself”. Not long after that, Senator Dodd said there was going to be a run on a California bank and his statement from the Senate Banking Committee caused the run on the bank within a few days. Gradually the Dodd-Frank liar loans destroyed the housing industry and the liar-loan derivatives caused the Lehman Brothers collapse.
World markets
European markets were calmed last week. Without any authorization from the American Congress the US FED has begun flooding European banks with liquidity to replace the private US bank funds that we reported were being pulled out. Apparently China did not decide to help after all.
The day after Bernacke put the full faith and credit of the US taxpayer behind UBS; Switzerland’s largest bank, UBS, announced that its loss from unauthorized trading by incompetent Kweku Adoboli is now estimated at $2.3 billion, but their incompetent Chief Executive Officer Oswald Gruebel intends to on. Maybe they will promote Kweku instead. The buck now stops at the US FED now so maybe Bernacke has to resign for putting the full faith and credit of the US taxpayer behind UBS.
Greece’s ability to avoid default hangs in the balance as International monitors are about to assess whether Prime Minister George Papandreou can meet the conditions of rescue loans. European Union and International Monetary Fund inspectors will hold a teleconference this afternoon with Finance Minister Evangelos Venizelos, to judge whether the government is eligible for an aid payment due next month and on track for a second rescue package approved by EU leaders July 21.
World markets are revisiting their lows and in some cases they set double bottoms. China tests last year’s low. http://finance.yahoo.com/echarts?s=000001.SS+Interactive#chart1:symbol=000001.ss;range=5y;indicator=volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined
Has Germany bottomed yet? Choose 2 or 5 years
http://finance.yahoo.com/echarts?s=^GDAXI+Interactive#chart1:symbol=^gdaxi;range=3m;indicator=volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined
The Swiss government and central bank has a target for the Swiss franc to halt its rise. Choose 2 or 5 years http://finance.yahoo.com/echarts?s=^SSMI+Interactive#chart2:symbol=^ssmi;range=2y;indicator=volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined
Emerging markets show some resiliency.
http://finance.yahoo.com/echarts?s=^BVSP+Interactive#chart1:symbol=^bvsp;range=2y;indicator=volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined
American Economy-
Last week summary
MBA Mortgage listing Index 09/03 -4.9% up considerably from last month’s -9.6%. This is the first of the good news we predicted starting for housing.
MBA Mortgage Purchase Index 09/10 up +6.3% after being down -4.9% last month. Great news again for housing.
ProducerPriceIndex in Aug did not change 0.0% which is deflationary below the target of 0.2% hit last month.
Core PPI Aug was up 0.1% after being up 0.4% last month. That is very low inflation.
Initial Claims 09/10 rose to 428K from 414K slightly worse
Core CPI Aug remained constant at 0.2%… no inflation
Industrial Production Aug increased 0.2% down from 0.9% last month. A 2.4% annual rate
Philadelphia Fed Sep -17.5 a big improvement from last months -30.7
Net long-term TIC Flows Jul $9.vs $3.7B means foreign investment in the USA increased.
Sep 16 9:55 AM Mich Sentiment Sep 57.8 up from 55.7 but still very low.
This Week
Sep 19 10:00 AM NAHB Housing Market Index Sep
Sep 20 8:30 AM Housing Starts Aug
Sep 20 8:30 AM Building Permits Aug
Sep 20 2:15 PM FOMC Rate Decision Sep
Sep 21 7:00 AM MBA Mortgage Index 09/17
Sep 21 10:00 AM Existing Home Sales Aug
Sep 21 10:30 AM Crude Inventories 09/17
Sep 21 2:15 PM FOMC Rate Decision Sep
Sep 22 8:30 AM Initial Claims 09/17
Sep 22 8:30 AM Continuing Claims 09/10
Sep 22 10:00 AM FHFA Housing Price Index Jul
Sep 22 10:00 AM Leading Indicators Aug
Market Outlook September 19 2011
US stocks rose a full week as net short sellers began to slowly panic. See below that world trade may have bottomed out and real recovery may be just starting. The Greek crisis looms this week.
It is good news that foreclosures just rose 30%. The sooner mortgage defaults are cleared the sooner credit ratings will be re-established and the housing segment will recover and create many real jobs. We predicted a rise in home sales is stating and the MBA Mortgage Purchase Index rose last Wednesday by 6.3% breaking its downward trend. We predict business will now begin to use their “war chest” to buy assets that have fallen so far in value due to Obama’s seemingly unlimited ability to destroy everything he touches with Obama’s fear mongering, his contempt for the American Constitution and the American people. Americans are positively sick of Obama’s incessant apologizing to the world for American exceptionalism.
We expect the VIX to continue to decline as the panic of smaller investors subsides similar to after the flash crash of May 6, 2010
http://finance.yahoo.com/q/bc?s=^VIX&t=2y&l=on&z=m&q=l&c=
So far the trading range of equities has not even tested the resistance levels. We expect a normal advance of up to at least 50% of the total August decline. See:
http://finance.yahoo.com/q/ta?s=^NYA&t=1y&l=on&z=l&q=l&p=e50%2Ce100&a=&c=
Bulk trade seems to have bottomed and is finally improving. See 1yr chart at:
http://www.bloomberg.com/apps/quote?ticker=BDIY:IND
Stock market update:
Asian Stocks were down last night. China down -1.8%, Hong Kong down –2.8%, India 0.0%, Taiwan down –1.3%, and Japan closed.
European markets are down today in a range -0.5% to -3% half way through their day.
.
American markets futures are down about –1.4% at 830AM EST.
The vast majority of investors and 99.9% of gold buyers at these extremely high gold prices do not have a clue as to how the world money supply works today. We are no longer a money supply driven world as we were in the 1700’s and 1800’s when money supply was actually the amount of money in circulation and Britain triggered a recession in the American colonies just by taxing the colonies and thus taking currency out of circulation.
"There are two ways to conquer and enslave a nation. One is by the sword. The other is by debt."
John Adams
"[It was] the poverty caused by the bad influence of the English bankers on the Parliament which has caused in the colonies hatred of the English and . . . the Revolutionary War."
- Benjamin Franklin
British taxes were the major cause of the revolution and America was forced to allow states and private banks to print their own currencies to create liquidity. The “Continental” became the American currency but after the American Revolution the term, “It isn’t worth a Continental” was a way to say something was worthless. Jefferson saw that high government spending was a path to a tyranny of a government regulatory bureaucracy.
It is hard to even imagine that at one time your local bank could print money. Jefferson saw that the private banks and corporations printing currencies was a source of power and instability and only the federal government should have that function.
"If the American people ever allow the banks to control the issuance of their currency, first by inflation, and then by deflation, the banks and corporations that will grow up around them will deprive the people of all property, until their children wake up homeless on the continent their fathers conquered. The issuing power of money should be taken from banks and restored to Congress and the people to whom it belongs. I sincerely believe the banking institutions having the issuing power of money, are more dangerous to liberty than standing armies."
Thomas Jefferson
But even with the US treasury controlling the currency we could not allow government to take the easy road to perdition.
To preserve your independence, we must not let our leaders load us with perpetual debt. We must make our choice between economy and liberty... or profusion and servitude."
-- Thomas Jefferson
Today the “velocity” of money (how many times a dollar changes hands in a week) and the “multiplier” (the inverse of the reserve requirement) cause the illusion that there is a lot of paper money in circulation. That is definitely not the case. If the credit card business froze up there would be very little cash to buy groceries, essentially the small amount of cash people spend today. There would be no money to support the price of gold. We do not have wheel barrels of cash, we have very little cash so the 1920 type hyperinflation that Germany experienced could not happen. In fact another recession or even a depression is a much higher risk still than even a Jimmy Carter spike in inflation.
There will not be many real jobs created until Obama resigns or is voted out of office. If Obama cared about America he would resign. He is like a bumbling Igor specter hovering over America business. Igor for those who do not know was the menacing ignorant, spastic, and grunting assistant to Frankenstein.
Washington government bureaucrat pay, insurance and pensions are the first entitlements that need to be cut. Do it now, 25% across the board. They are the cause of our deficit and they yet do not have a clue about the pain they are causing throughout America.
Remember that we had no signs of a recession until Senator Obama became the first American ever in American history to say his opponent (President Bush) was causing an economic depression. Intelligent responsible Americans always knew the “D” word is taboo in America because it causes fear. FDR said, “The only thing we have to fear is fear itself”. Not long after that, Senator Dodd said there was going to be a run on a California bank and his statement from the Senate Banking Committee caused the run on the bank within a few days. Gradually the Dodd-Frank liar loans destroyed the housing industry and the liar-loan derivatives caused the Lehman Brothers collapse.
World markets
European markets were calmed last week. Without any authorization from the American Congress the US FED has begun flooding European banks with liquidity to replace the private US bank funds that we reported were being pulled out. Apparently China did not decide to help after all.
The day after Bernacke put the full faith and credit of the US taxpayer behind UBS; Switzerland’s largest bank, UBS, announced that its loss from unauthorized trading by incompetent Kweku Adoboli is now estimated at $2.3 billion, but their incompetent Chief Executive Officer Oswald Gruebel intends to on. Maybe they will promote Kweku instead. The buck now stops at the US FED now so maybe Bernacke has to resign for putting the full faith and credit of the US taxpayer behind UBS.
Greece’s ability to avoid default hangs in the balance as International monitors are about to assess whether Prime Minister George Papandreou can meet the conditions of rescue loans. European Union and International Monetary Fund inspectors will hold a teleconference this afternoon with Finance Minister Evangelos Venizelos, to judge whether the government is eligible for an aid payment due next month and on track for a second rescue package approved by EU leaders July 21.
World markets are revisiting their lows and in some cases they set double bottoms. China tests last year’s low. http://finance.yahoo.com/echarts?s=000001.SS+Interactive#chart1:symbol=000001.ss;range=5y;indicator=volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined
Has Germany bottomed yet? Choose 2 or 5 years
http://finance.yahoo.com/echarts?s=^GDAXI+Interactive#chart1:symbol=^gdaxi;range=3m;indicator=volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined
The Swiss government and central bank has a target for the Swiss franc to halt its rise. Choose 2 or 5 years http://finance.yahoo.com/echarts?s=^SSMI+Interactive#chart2:symbol=^ssmi;range=2y;indicator=volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined
Emerging markets show some resiliency.
http://finance.yahoo.com/echarts?s=^BVSP+Interactive#chart1:symbol=^bvsp;range=2y;indicator=volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined
American Economy-
Last week summary
MBA Mortgage listing Index 09/03 -4.9% up considerably from last month’s -9.6%. This is the first of the good news we predicted starting for housing.
MBA Mortgage Purchase Index 09/10 up +6.3% after being down -4.9% last month. Great news again for housing.
ProducerPriceIndex in Aug did not change 0.0% which is deflationary below the target of 0.2% hit last month.
Core PPI Aug was up 0.1% after being up 0.4% last month. That is very low inflation.
Initial Claims 09/10 rose to 428K from 414K slightly worse
Core CPI Aug remained constant at 0.2%… no inflation
Industrial Production Aug increased 0.2% down from 0.9% last month. A 2.4% annual rate
Philadelphia Fed Sep -17.5 a big improvement from last months -30.7
Net long-term TIC Flows Jul $9.vs $3.7B means foreign investment in the USA increased.
Sep 16 9:55 AM Mich Sentiment Sep 57.8 up from 55.7 but still very low.
This Week
Sep 19 10:00 AM NAHB Housing Market Index Sep
Sep 20 8:30 AM Housing Starts Aug
Sep 20 8:30 AM Building Permits Aug
Sep 20 2:15 PM FOMC Rate Decision Sep
Sep 21 7:00 AM MBA Mortgage Index 09/17
Sep 21 10:00 AM Existing Home Sales Aug
Sep 21 10:30 AM Crude Inventories 09/17
Sep 21 2:15 PM FOMC Rate Decision Sep
Sep 22 8:30 AM Initial Claims 09/17
Sep 22 8:30 AM Continuing Claims 09/10
Sep 22 10:00 AM FHFA Housing Price Index Jul
Sep 22 10:00 AM Leading Indicators Aug
Market Outlook September 19 2011
US stocks rose a full week as net short sellers began to slowly panic. See below that world trade may have bottomed out and real recovery may be just starting. The Greek crisis looms this week.
It is good news that foreclosures just rose 30%. The sooner mortgage defaults are cleared the sooner credit ratings will be re-established and the housing segment will recover and create many real jobs. We predicted a rise in home sales is stating and the MBA Mortgage Purchase Index rose last Wednesday by 6.3% breaking its downward trend. We predict business will now begin to use their “war chest” to buy assets that have fallen so far in value due to Obama’s seemingly unlimited ability to destroy everything he touches with Obama’s fear mongering, his contempt for the American Constitution and the American people. Americans are positively sick of Obama’s incessant apologizing to the world for American exceptionalism.
We expect the VIX to continue to decline as the panic of smaller investors subsides similar to after the flash crash of May 6, 2010
http://finance.yahoo.com/q/bc?s=^VIX&t=2y&l=on&z=m&q=l&c=
So far the trading range of equities has not even tested the resistance levels. We expect a normal advance of up to at least 50% of the total August decline. See:
http://finance.yahoo.com/q/ta?s=^NYA&t=1y&l=on&z=l&q=l&p=e50%2Ce100&a=&c=
Bulk trade seems to have bottomed and is finally improving. See 1yr chart at:
http://www.bloomberg.com/apps/quote?ticker=BDIY:IND
Stock market update:
Asian Stocks were down last night. China down -1.8%, Hong Kong down –2.8%, India 0.0%, Taiwan down –1.3%, and Japan closed.
European markets are down today in a range -0.5% to -3% half way through their day.
.
American markets futures are down about –1.4% at 830AM EST.
Friday, September 16, 2011
There will not be many real jobs created until Obama resigns or is voted out of office. If Obama cared about America he would resign.
There will not be many real jobs created until Obama resigns or is voted out of office. If Obama cared about America he would resign. He is like a bumbling Igor specter hovering over America business. Igor for those who do not know was the menacing ignorant, spastic, and grunting assistant to Frankenstein.
Washington government bureaucrat pay, insurance and pensions are the first entitlements that need to be cut. Do it now, 25% across the board. They are the cause of our deficit and yet do not have a clue about the pain they are causing throughout America.
Remember that we had no signs of a recession until idiot Senator Obama became the first American ever in American history to open his big mouth during his campaign and say his opponent (President Bush) was causing an economic depression. Never before did an elected American make such an irresponsible and stupid remark.
Intelligent responsible Americans always knew the “D” word is taboo in America because it causes fear. FDR said, “The only thing we have to fear is fear itself” and stupid Obama was the first American to deliberately use the word “depression” to cause fear. Not long after that, idiot Senator Dodd said there was going to be a run on a California bank and his contemptible fear mongering act from the Senate Banking Committee caused the run on a bank within a few days. Gradually the Dodd-Frank liar loans destroyed the housing industry and the liar-loan derivatives caused the Lehman Brothers collapse. And yes, idiot Obama with his fear mongering big mouth gets the credit for the Obama economic malaise we will have until we vote Obama and his ilk out in 2012.
Solyndra isn't the only business to go belly up after benefiting from a piece of the $800 billion failed economic stimulus package passed in 2009. At least four other companies have received stimulus funding only to later file for bankruptcy, and two of those were working on alternative energy. In most cases Obama stimulation is nothing more than welfare and payback to his campaign contributors.
World markets
Greece should be ejected from the EU and replaced by the Czech Republic or another East European nation.
The USA banks have to pull investments out of Greece, Spain, Iceland, and Italy until they cut government spending. Let China throw their money away instead.
World markets are revisiting their lows and in some cases they set double bottoms. China tests last year’s low. http://finance.yahoo.com/echarts?s=000001.SS+Interactive#chart1:symbol=000001.ss;range=5y;indicator=volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined
Has Germany bottomed yet? Choose 2 or 5 years
http://finance.yahoo.com/echarts?s=^GDAXI+Interactive#chart2:symbol=^gdaxi;range=5y;indicator=volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined
The Swiss government and central bank has a target for the Swiss franc to halt its rise. Choose 2 or 5 years http://finance.yahoo.com/echarts?s=^SSMI+Interactive#chart2:symbol=^ssmi;range=2y;indicator=volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined
Emerging markets show some resiliency.
http://finance.yahoo.com/echarts?s=^BVSP+Interactive#chart1:symbol=^bvsp;range=2y;indicator=volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined
American Economy-
The week
MBA Mortgage listing Index 09/03 -4.9% up considerably from last month’s -9.6% i.e. This is the first of the good news we predicted starting for housing.
Export Prices ex-ag. Aug up 0.3% vs last months up 0.5% showing inflation moderating to target level.
Import Prices ex-oil Aug up 0.2% vs last months up 0.4% showing inflation moderating to target level.
Treasury Budget Aug -$134.2B vs -$90.5B last month showing Obama deficit spending effect.
MBA Mortgage Purchase Index 09/10 up +6.3% after being down -4.9% last month. Great news again for housing.
ProducerPriceIndex in Aug did not change 0.0% which is deflationary below the target of 0.2% hit last month.
Core PPI Aug was up 0.1% after being up 0.4% last month. That is very low inflation
Retail Sales Aug 0.0% change after improving 0.5% last month. Slow…hurricane
Retail Sales ex-auto Aug up 0.1% after also being up 0.5% last month. Slow…hurricane
Business Inventories Jul up 0.4% which is not good after being up 0.3% last month
Crude Inventories 09/10 dropped -6.7M which means prices will rise after being down -3.963M last month
Yesterday
Initial Claims 09/10 rose to 428K from 414K slightly worse
Continuing Claims 09/03 rose to 3726K from 3717K
CPI Aug dropped to 0.4% from 0.5%
Core CPI Aug remained constant at 0.2%
Empire Manufacturing Sep dropped slightly to -8.8 from -7.7
Current Account Balance Q2 deficit increased by -$118.0B vs. -$119.3 last month
Industrial Production Aug increased 0.2% down from 0.9% last month. A 2.4% annual rate
Capacity Utilization Aug 77.4% down from 77.5% due to lower production
Philadelphia Fed Sep -17.5 a big improvement from last months -30.7
This Week
Sep 16 9:00 AM Net long-term TIC Flows Jul
Sep 16 9:55 AM Mich Sentiment
Market Outlook September 15 2011
US stocks rose for a fourth day as net short sellers began to slowly panic. Bulk trade seems to have bottomed and is finally improving.
The sooner mortgage defaults are cleared the sooner credit ratings will be re-established. We predicted a sharp rise in home sales is stating and the MBA Mortgage Purchase Index just rose Wednesday by 6.3% breaking its downward trend. We predict business will now begin to use their “war chest” to buy assets that have fallen so far in value due to Obama’s seemingly unlimited ability to destroy everything he touches with his fear mongering and contempt for the American Constitution and the American people. Americans are absolutely sick of Obama’s incessant apologizing to the world for American exceptionalism.
The only thing stopping this emerging economic boom is negative barking Obama and his rules and Obamacrap. When he takes his $Billion campaign war chest and moves it to a bank in Nigeria we will know the worldwide Obama malaise is behind us.
We expect the VIX to continue to decline as the panic of smaller investors subsides similar to after the flash crash of May 6, 2010
http://finance.yahoo.com/q/bc?s=^VIX&t=2y&l=on&z=m&q=l&c=
So far the trading range of equities has not even tested the resistance levels. We expect a normal advance of up to at least 50% of the total August decline. See:
http://finance.yahoo.com/q/ta?s=^NYA&t=1y&l=on&z=l&q=l&p=e50%2Ce100&a=&c=
Bulk shipments finally seem to be getting ready to break out. See 1yr chart at:
http://www.bloomberg.com/apps/quote?ticker=BDIY:IND
Stock market update:
Asian Stocks were up again last night. China up 0.1%, Hong Kong up 1.4%, India up 0.3%, Taiwan up 2.6%, and Japan up 2.3%.
Main European markets are up broadly today +0.5% to +1.9% half way through their day.
.
American markets futures are down about +0.3% at 8AM EST.
Corporations have over $500 billion in cash to invest and it does not look like they will invest in jobs as long as Obamacrap socialized medicine and new Obamacrap taxes loom. Obama is just stupid enough to try to destroy the corporate cash position with his harassment tactics. Obama stupidly causes businesses to have to cover themselves for Obama threats rather than spend for creating jobs. Never underestimate Obama’s stupidity.
Obama is the creator of “job killer rules”. Corporate cash can also be used to buy real estate, capital equipment, corporate stock or to fund mergers when it is clear there will be no double dip recession. We predict a high unemployment recovery beginning now until the stupid Obama socialists are all voted out of office. When Obama leaves, unemployment will drop and corporations will grow jobs. Right now the Obama socialists are just too stupid to see how their rules and regulations kill jobs everywhere.
Washington government bureaucrat pay, insurance and pensions are the first entitlements that need to be cut. Do it now, 25% across the board. They are the cause of our deficit and yet do not have a clue about the pain they are causing throughout America.
Remember that we had no signs of a recession until idiot Senator Obama became the first American ever in American history to open his big mouth during his campaign and say his opponent (President Bush) was causing an economic depression. Never before did an elected American make such an irresponsible and stupid remark.
Intelligent responsible Americans always knew the “D” word is taboo in America because it causes fear. FDR said, “The only thing we have to fear is fear itself” and stupid Obama was the first American to deliberately use the word “depression” to cause fear. Not long after that, idiot Senator Dodd said there was going to be a run on a California bank and his contemptible fear mongering act from the Senate Banking Committee caused the run on a bank within a few days. Gradually the Dodd-Frank liar loans destroyed the housing industry and the liar-loan derivatives caused the Lehman Brothers collapse. And yes, idiot Obama with his fear mongering big mouth gets the credit for the Obama economic malaise we will have until we vote Obama and his ilk out in 2012.
Solyndra isn't the only business to go belly up after benefiting from a piece of the $800 billion failed economic stimulus package passed in 2009. At least four other companies have received stimulus funding only to later file for bankruptcy, and two of those were working on alternative energy. In most cases Obama stimulation is nothing more than welfare and payback to his campaign contributors.
World markets
Greece should be ejected from the EU and replaced by the Czech Republic or another East European nation.
The USA banks have to pull investments out of Greece, Spain, Iceland, and Italy until they cut government spending. Let China throw their money away instead.
World markets are revisiting their lows and in some cases they set double bottoms. China tests last year’s low. http://finance.yahoo.com/echarts?s=000001.SS+Interactive#chart1:symbol=000001.ss;range=5y;indicator=volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined
Has Germany bottomed yet? Choose 2 or 5 years
http://finance.yahoo.com/echarts?s=^GDAXI+Interactive#chart2:symbol=^gdaxi;range=5y;indicator=volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined
The Swiss government and central bank has a target for the Swiss franc to halt its rise. Choose 2 or 5 years http://finance.yahoo.com/echarts?s=^SSMI+Interactive#chart2:symbol=^ssmi;range=2y;indicator=volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined
Emerging markets show some resiliency.
http://finance.yahoo.com/echarts?s=^BVSP+Interactive#chart1:symbol=^bvsp;range=2y;indicator=volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined
American Economy-
The week
MBA Mortgage listing Index 09/03 -4.9% up considerably from last month’s -9.6% i.e. This is the first of the good news we predicted starting for housing.
Export Prices ex-ag. Aug up 0.3% vs last months up 0.5% showing inflation moderating to target level.
Import Prices ex-oil Aug up 0.2% vs last months up 0.4% showing inflation moderating to target level.
Treasury Budget Aug -$134.2B vs -$90.5B last month showing Obama deficit spending effect.
MBA Mortgage Purchase Index 09/10 up +6.3% after being down -4.9% last month. Great news again for housing.
ProducerPriceIndex in Aug did not change 0.0% which is deflationary below the target of 0.2% hit last month.
Core PPI Aug was up 0.1% after being up 0.4% last month. That is very low inflation
Retail Sales Aug 0.0% change after improving 0.5% last month. Slow…hurricane
Retail Sales ex-auto Aug up 0.1% after also being up 0.5% last month. Slow…hurricane
Business Inventories Jul up 0.4% which is not good after being up 0.3% last month
Crude Inventories 09/10 dropped -6.7M which means prices will rise after being down -3.963M last month
Yesterday
Initial Claims 09/10 rose to 428K from 414K slightly worse
Continuing Claims 09/03 rose to 3726K from 3717K
CPI Aug dropped to 0.4% from 0.5%
Core CPI Aug remained constant at 0.2%
Empire Manufacturing Sep dropped slightly to -8.8 from -7.7
Current Account Balance Q2 deficit increased by -$118.0B vs. -$119.3 last month
Industrial Production Aug increased 0.2% down from 0.9% last month. A 2.4% annual rate
Capacity Utilization Aug 77.4% down from 77.5% due to lower production
Philadelphia Fed Sep -17.5 a big improvement from last months -30.7
This Week
Sep 16 9:00 AM Net long-term TIC Flows Jul
Sep 16 9:55 AM Mich Sentiment
Market Outlook September 15 2011
US stocks rose for a fourth day as net short sellers began to slowly panic. Bulk trade seems to have bottomed and is finally improving.
The sooner mortgage defaults are cleared the sooner credit ratings will be re-established. We predicted a sharp rise in home sales is stating and the MBA Mortgage Purchase Index just rose Wednesday by 6.3% breaking its downward trend. We predict business will now begin to use their “war chest” to buy assets that have fallen so far in value due to Obama’s seemingly unlimited ability to destroy everything he touches with his fear mongering and contempt for the American Constitution and the American people. Americans are absolutely sick of Obama’s incessant apologizing to the world for American exceptionalism.
The only thing stopping this emerging economic boom is negative barking Obama and his rules and Obamacrap. When he takes his $Billion campaign war chest and moves it to a bank in Nigeria we will know the worldwide Obama malaise is behind us.
We expect the VIX to continue to decline as the panic of smaller investors subsides similar to after the flash crash of May 6, 2010
http://finance.yahoo.com/q/bc?s=^VIX&t=2y&l=on&z=m&q=l&c=
So far the trading range of equities has not even tested the resistance levels. We expect a normal advance of up to at least 50% of the total August decline. See:
http://finance.yahoo.com/q/ta?s=^NYA&t=1y&l=on&z=l&q=l&p=e50%2Ce100&a=&c=
Bulk shipments finally seem to be getting ready to break out. See 1yr chart at:
http://www.bloomberg.com/apps/quote?ticker=BDIY:IND
Stock market update:
Asian Stocks were up again last night. China up 0.1%, Hong Kong up 1.4%, India up 0.3%, Taiwan up 2.6%, and Japan up 2.3%.
Main European markets are up broadly today +0.5% to +1.9% half way through their day.
.
American markets futures are down about +0.3% at 8AM EST.
Corporations have over $500 billion in cash to invest and it does not look like they will invest in jobs as long as Obamacrap socialized medicine and new Obamacrap taxes loom. Obama is just stupid enough to try to destroy the corporate cash position with his harassment tactics. Obama stupidly causes businesses to have to cover themselves for Obama threats rather than spend for creating jobs. Never underestimate Obama’s stupidity.
Obama is the creator of “job killer rules”. Corporate cash can also be used to buy real estate, capital equipment, corporate stock or to fund mergers when it is clear there will be no double dip recession. We predict a high unemployment recovery beginning now until the stupid Obama socialists are all voted out of office. When Obama leaves, unemployment will drop and corporations will grow jobs. Right now the Obama socialists are just too stupid to see how their rules and regulations kill jobs everywhere.
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