Obama plans on Thursday to propose sparking job growth by quietly injecting more than $300 billion of taxpayer money into his re-election campaign over the next year. He will give most as tax cuts to corporations based on their contributions to his campaign. Large swing states that have powerful unions and large welfare voting blocks will get infrastructure spending (socialist infrastructure slush funds) and direct aid to democratically controlled state and local governments. Obama does not have to say it is only going only to democrats because honest leaders typically refuse the funding of phantom state and city mass transit projects and “solar panel” corporation election slush funds.
People get such a warm feeling in the presence of Obama until they discover it is just he peeing on their legs. Obama likes the term Obamacare so from now Americans and the world will make it known as the Obamacrap, which is its true substance. For those with higher sensibilities it can be referred to as Obamamerd.
Next week Obama plans to call on Congress to offset the cost of his short-term political job and slush fund measures by raising tax revenue in later years after he is out of office. That is Obama’s longer-term deficit detonation package, including senior spending and entitlement cuts as well as taxpayer increases for people Obama thinks are still stupid enough to have a work ethic. The congressional panel charged with finding ways to reduce the nation’s debt can pass the new Obamacrap law without reading it or making it public until after the 2012 election.
Almost half Barak's stimulus would come from tax cuts, which include an extension of a two-percentage-point reduction in the payroll tax paid by workers due to expire Dec. 31 and a new decrease in the portion of the tax paid by employers. That is not a real tax cut because it does not cut the tax tables so workers are stung with higher taxes and penalties if they are more than 10% short of having pre-paid their taxes with direct deductions. That deduction is just the warm feeling the taxpayers get while Obama pees on their legs.
Obama sued 17 large American banks as the first part of a shakedown to meet his $1Billion war chest goal for his re-election bid. WSJ poll says 51% of Americans can’t stand any more of Obamacrap with 73% of Americans saying he is an economic socialist black hole taking the country toward bankruptcy with Obamacrap.
GE’s socialist CEO, Immelt, begins a second decade of using the GE assets to finance re-education of Americans for the abandonment of free enterprise and the advancement of gangster socialism to redistribute wealth from those who still enjoy working for a living to crush their motivation to try to become exceptional. Under Immelt, GE has been unable to keep profits rising as much as inflation.
In 2009, more than a dozen of Obama’s agents with automatic weapons invaded the Gibson factory in Nashville. The Obama Government seized guitars and a substantial amount of materials and records. To date, 1 year and 9 months later, no charges have been filed, yet the Obama gangster government agents still hold Gibson’s property. This is not the first stupid Obama “Russian communist” gangster style raid. Gibson factories have been raided twice, most recently two weeks ago, by Obama agents. Obama would make a good Russian Putin but here he is just an American moron of unknown origin.
http://online.wsj.com/article/SB10001424053111903895904576542942027859286.html
Deutsche Telekom AG hasn’t prepared any alternative scenarios if Obama shakes them down for contributions. Managers led by Chief Executive Officer Rene Obermann were meeting with Deutsche Telekom’s supervisory board when they heard Obama had Holden arrange to have them sued to block the deal. Obermann, who had previously demonstrated confidence that the transaction would be approved, was taken by surprise, said a person familiar with the matter, asking not to be identified because the meeting was a private call for contributions.
Obama stinks even if only a one-term president because:
1. Obama is making damaging economic structural changes to what was a free enterprise economy such as:
a) Gangster socialism to disrupt free enterprise until socialist Obama election funding goals are achieved.
Corporate raids with automatic weapons to make it clear Obama is willing to use lethal force to stay in power.
Shotgun law suits to disrupt free enterprises until socialist party support and funding goals are achieved.
Shutting down American energy sources to cripple the free enterprise system to claim as Karl Marx did 140 years ago that the free enterprise would be replaced by gangster socialism.
b) Directing research from practicable growth areas to juvenile socialist unsustainable ideas such as:
Using the NLRB to destroy the US aerospace industry by attacking the right of Boeing to build a manufacturing facility where he has no socialist union-voting base of support.
Using gays to make the US military just as effective as the gay army of Netherlands… as if Moslem terrorists need yet another reason to hate Americans.
Allowing green government sponsored research.expenditures for studies of recycled French fry vegetable oil and corn ethanol automobile fuels.
Filling America’s garbage dumps with toxic waste batteries from unaffordable cars that cost more in energy to manufacture than they can save in energy in their useful life. It is a scam only morons believe is the way to go. As evidence, America is far behind Japan and Europe in energy conservation and yet Japan and Germany are not touching these moronic Obama administration ideas. Only ten people a day are stupid enough to buy one of Obama’s “green” cars.
Funds national health studies to better understand and advertise the habits of same sex marriage partners.
2) Barrack Obama’s socialism is government of the lazy, stupid, and pot heads, by the lazy, stupid, and pot heads, for the lazy, stupid, and pot heads.
Obama is barking at the banks hard now for them to act on all the “liar loan” mortgages he made them accept from his “chosen people.”
Obama’s “chosen people” continue to strip the vacant homes of their copper plumbing and wiring essentially gutting the houses so they become condemned and worthless
Obama is not letting the housing crisis get resolved because the "liar loan" losses show just how stupid his socialist ideas are and have been under democrat-socialist control.
3. Hussein Obama publicly funds a government propaganda machine and is slowly destroying the free press.
a) . The truth can no longer be shown in America when it shows the Nationalist Socialists corruption
Socialists corrupted Freddie and Fannie and turned on the spicket to ACORN and other corrupt welfare state organizations. http://www.youtube.com/watch_popup?v=cMnSp4qEXNM&NR=1
b) Obama thinks the American Flag is considered a prideful “hate symbol” in most of his world.
He prefers to be photographed with the multi-colored rainbow flag.
He prefers to be photographed with Moslem symbols
c) Obama thinks Christianity and the symbol of the cross are painful and offensive “hate symbols” in most of his world especially where they still like murder Christians and strip naked and then fondle American press corps women in their “Green Squares” between Moslem prayers
4. Obama is mired in absurdity:
a) He seeks to trade the burdens of greatness for the relief of mediocrity.
b) Obama effectively makes a virtue of decline—as if Obama can redeem America only by making her a lesser nation.
c) The left continues to enfeeble our public education system even as our wealth has expanded. Moral and cultural relativism now obscure individual responsibility.
d) Obama decrees a new direction, we move ahead by receding—by letting go of American values, so that a creeping leftist mediocrity begins to spare us the burdens of greatness?
e) As a president, Barrack Obama has been a force for mediocrity.
He has banked more on the hopeless interventions of government than on the exceptionalism of the people.
His greatest weakness as a president is a limp confidence in his countrymen.
He is afraid to ask difficult things of his constituency like “get off your ass and get a job.”
World markets
The report Friday that the U.S. economy failed to add any new jobs in August caused European and Asian stock markets to drop sharply Monday. But the news from Europe was even more discouraging as the interest rates paid on debt by so-called peripheral eurozone countries — Greece, Italy and Spain — rose sharply. Greece now pays up to 18% on its national debt.
A survey of the services sector Monday showed a slowdown across the European continent for the fifth consecutive month. The purchasing managers' index for the eurozone showed the services sector was barely growing — unlike the sagging manufacturing sector.
World markets may have set their lows for now 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
Germany resumes decline.
http://finance.yahoo.com/echarts?s=^GDAXI+Interactive#chart6:symbol=^gdaxi;range=5y;indicator=volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined
The Swiss government and central bank talks about a possible target for the Swiss franc to halt its gains has failed and the Swiss franc is rising again. The Swiss market has not yet double bottomed and has a way to go.
http://finance.yahoo.com/echarts?s=^SSMI+Interactive#chart2:symbol=^ssmi;range=5y;indicator=volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined
Emerging markets also will fall further before they double bottom. http://finance.yahoo.com/echarts?s=^BVSP+Interactive#chart1:symbol=^bvsp;range=5y;indicator=volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined
American Economy-
Last week
Continuing Claims 08/20 3735K up from 3641K Not good
Productivity-Rev. Q2 -0.7% down from -0.3% Not good
Unit Labor Costs - Rev. Q2 3.3% up from 2.2% - Not good
ISM Index Aug 50.6 47.down from 50.9 - Not good
Construction Spending Jul -1.3% down from 0.2% Not good
Nonfarm Payrolls Aug 0K nothing compared with 117K last month. Good thing Obama has come back from Martha’s Vineyard.
Nonfarm Private Payrolls Aug 17K down from 154K jobs created last month
Unemployment Rate Aug 9.1% same as last week 9.1% -
Hourly Earnings Aug -0.1% down from 0.4% increase last month.
Average Workweek Aug 34.2 down slightly from 34.3 last month
Yesterday
ISM Services Aug rose to 53.3 from 52.7 the previous month an 11% gain in the service sector the largest American business sector.
This Week
Sep 7 7:00 AM MBA Mortgage Index 09/03
Sep 7 2:00 PM Fed's Beige Book Sep
Sep 8 8:30 AM Initial Claims 09/03
Sep 8 8:30 AM Continuing Claims 08/27
Sep 8 8:30 AM Trade Balance Jul
Sep 8 11:00 AM Crude Inventories 09/03
Sep 8 3:00 PM Consumer Credit Jul
Sep 9 10:00 AM Wholesale Inventories Jul
Market Outlook September 7 2011
Yesterday was the worst September start in many years. Statistically September is the worst month for the stock market so testing of lows could happen for a third or fourth time. Monday may already be the worst day for this Month but most of the losses evaporated by the end of the day.
The potential damage Obama gangster socialism can inflict on the world is still unlimited at this point. There is no place for exceptionalism to hide once Obama makes America another gangster socialist state where exceptional people go to jail until they finally give up.
Short sellers are in a panic and are trying to create fear. But some are beginning to cover themselves and that plus corporation stock buy-backs are underlying the market. Insider buying and options distributions are now at a record level. Before August insiders were sellers of their stock in their place of work.
Obamacrap uncertainty has stalled world growth. A welfare dependent voting block now elects socialists and communists across the free world not just in China and Russia. Governments became too large because they manage welfare, social programs, and government worker unions. Social Security has been diverted to welfare. Government investment in business has been diverted to welfare via affirmative action. Freddie and Fannie have transferred $Trillions via affirmative action to welfare people who exhibit no visible work ethic or means of their own personal much less child support. We are an Obamacrap welfare state and he will suggest more Obamacrap on Thursday night. The only program of government jobs that does work in the short run is to put long term unemployed and welfare recipients into to work programs sweeping streets, cutting grass, cleaning rivers and forests, shoveling snow etc as was done under Clinton for welfare reform.
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=5y&l=on&z=m&q=l&c=
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=5y&l=on&z=l&q=l&p=e50%2Ce100&a=&c=
Economic recovery the past two years was one of Obama’s big lies as he continued to divide Americans, destroyed the American economy with socialism and corruption, and barked at Congress and now barks and at the increasing numbers of disappointed voters. But could the bulk shipments finally 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 last night. China up 1.8%, Hong Kong up 1.7%, India up 1.2%, and Japan up 2%.
European markets are up today 1.2 TO 2.3% at 6:45AM EST half way through their day.
.
American markets futures are up about .4% to .5% at 6:45 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. Corporate cash hoards will provide needed liquidity as Obama gangsters disrupt banking. Corporate cash can also be used to buy corporate stock or fund mergers. Remember if the money multiplier effect is 20:1(the money effectively changes hands 20 times) that $500billion becomes $10Trillion so it would only take 10% of the corporations to buy back and to put $1trillion into the stock market
See:
Obama and the Burden of Exceptionalism
Post-'60s liberals, with the president as their standard bearer, seek to make a virtue of decline.
By SHELBY STEELE
http://online.wsj.com/article/SB10001424053111904787404576532623176115558.html?mod=googlenews_wsj
Summary:
Clearly Americans expected exceptionalism from Obama who could have shown that America had achieved near perfect social mobility… not his Obamacrap assault on America's exceptionalism of scientific, economic and cultural preeminence.
American exceptionalism is, among other things, the result of a difficult rigor: the use of individual initiative as the engine of development within a society that strives to ensure individual freedom through the rule of law. Over time a society like this will become great. This is how—despite all our flagrant shortcomings and self-betrayals—America evolved into an exceptional nation.
Obama was elected to make a stretch toward exceptionalism. It should be held against him that he has done the direct opposite.
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