Remember that we had no signs of a recession until Senator Obama became the first American ever in American history to open his big mouth and

Remember that we had no signs of a recession until 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 economically dangerous remark like shouting fire in a crowded theater..

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 Obama was the first American to deliberately use the word “depression” to cause fear. Not long after that, 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, Obama with his big mouth fear mongering gets the credit for the Obama economic malaise we will have until we vote Obama out in 2012.

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.

Bernie Marcus this morning said Obama should not be asking advice of GE’s Jeff Immelt who is moving jobs out of the USA. That makes no sense at all. Bernie, cofounder of Home Depot, leads a group of businessmen trying to create jobs in America. He said small business is not going to grow jobs until the Obama socialists are all voted out of office next year.

Bark Obama’s administration just defended the $528 million loan to Solyndra a solar-panel company that went bankrupt this month. We told you about it two weeks before it was big news. Of course Obama tried again to blame Bush and said Solyndra's projects were considered "advanced" dating back to 2008 when set aside. Suddenly in 2009 after a major contribution to Obama’s campaign, Solyndra appeared to be well positioned to compete and succeed in the global marketplace. An Obama news stooge said smiling that Bush people set it aside but did not say outright it was rejected. But emails released by the House Energy and Commerce Committee show that Obama’s people are lying and their relevant credit committee decided "not to engage in further discussions with Solyndra" in the final days of the Bush administration. After the change in administration, Barack Obama’s officials restarted the loan review process for Solyndra after their contribution. Obama won’t get away with his lying to the American people this time.

In Obama’s first term, American family income dropped to 1996 levels. There are now more homeless people living in America than ever in the history of America. Obama has his regulators shutting down businesses now since they are still $200 million short of his record $Billion election campaign treasury goal. People are beginning to take bets now on how much of the campaign treasure Obama will keep for himself. 

World markets
We also expect Europe to calm down if Greece bites the bullet now or is decisively ejected from the EU. But in the interim European debt is an overburden keeping the lid on the European markets.

The potential damage Obama gangster socialism can inflict on the world is still unlimited at this point. There is no place for exceptionalism to run and hide if Obama makes America just another gangster socialist state where exceptional people go to jail until they finally give up and confess to crimes against the state. Obama has now raised $800 million for his next campaign. But the world is waking up to Obama’s Socialism that typically precedes the gangster type socialism and massive election fraud that Russia still has.

The USA banks have to pull all their money out of Greece, Spain, Iceland, and Italy until they cut their government spending. The American people need to prevent Obama from raising money to continue growing government pay and pensions. Government bureaucrat (desk jobs) pay, insurance, and pensions are the first entitlements that need to be cut. Do it now 25% across the board.

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

Germany resumes decline because they underwrite Greece. 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. 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
MBA Mortgage Index 09/03 -4.9% up considerably from last month’s -9.6% i.e. good news.
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.

Yesterday
MBA Mortgage Purchase Index 09/10 up +6.3% after being down -4.9% last month. This is the first of the good new we predicted starting 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.
Retail Sales Aug 0.0% change after improving 0.5% last month
Retail Sales ex-auto Aug up 0.1% after also being up 0.5% last month
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

This Week
Sep 15 8:30 AM Initial Claims 09/10
Sep 15 8:30 AM Continuing Claims 09/03
Sep 15 8:30 AM CPI Aug
Sep 15 8:30 AM Core CPI Aug
Sep 15 8:30 AM Empire Manufacturing Sep
Sep 15 8:30 AM Current Account Balance Q2
Sep 15 9:15 AM Industrial Production Aug
Sep 15 9:15 AM Capacity Utilization Aug
Sep 15 10:00 AM Philadelphia Fed Sep

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 third day as values are high and consumers are coming back to stores.

Target's(TGT) web site went down yesterday, as consumers raced to get its limited-edition Missoni line. Such sales indicates that the American outlook is improving as they see a light at the end of the tunnel with an end to the most corrupt and idiotic federal administration in the history of American gaffes and embarrassments.

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. The Banks are now working feverishly to clean up the Barney Frank-Dodd liar loan housing crisis caused by the democrat liar loans to “Obama’s people”of the past decade. The housing recovery that is now beginning will be strong evidence that there will be no second recession or depression in the USA. Real estate is a good buy and corporations have the cash to invest in property and capital equipment now. We predict business will not create new jobs until Obama resigns or is voted out of office. 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. Americans are absolutely 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=

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=

Economic recovery the past two years was one of Obama’s big lies. 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 again last night. China down –0.2%, Hong Kong up 0.7%, India up 1%, and Japan up 1.8%.

European markets are up broadly today +0.5% to +2.5% half way through their day.
.
American markets futures are up about +0.8% 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 socialized medicine and new Obama taxes loom. Corporate cash hoards will provide needed liquidity. Obama causes businesses to have to cover themselves for Obama threats rather than spend for creating jobs. Never underestimate Obama. That is why we say this is not the time for investors who worry a lot and could get ulcers.

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. Remember if the money multiplier effect is 20:1(the new invested 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. We predict a high unemployment until the Obama socialists are voted out of office. Then unemployment will drop and corporations will grow jobs. Right now the socialists are just too stupid to see how their rules and regulations kill jobs everywhere.