When does the Koran say one should beat one’s wife? Whenever she needs it.

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.