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.
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American market futures are up about 0.3% at 8:30AM EST.