American type free enterprise only comes once in several thousand years so enjoy it before Obama and his socialists destroy the Constitution

American type free enterprise only comes once in several thousand years so enjoy it before Obama and his socialists destroy everything America stands for.

Liberals don’t realize there will be no redistribution of wealth if they burn free enterprise down to keep warm.

The Jimmy Carter "misery index," an informal measure derived by adding the national unemployment rate to the year-over-year change in consumer prices. It rose to 13 in September. The index hit 18 during President Jimmy Carter's last term in the 1980s.

Corrupt GE/Pravda made MSNBC the propaganda machine for corruption, i.e. Liberals. Now obviously Comcast is another corrupt corporation because it took over MSNBC and continues the same GE socialist crony politics and lies that undermine free enterprise and American citizen rights to the fruits of their labor.

World markets
European Union liberal ladies meet again today to resolve the Greek sovereign debt crisis without triggering a default, beef up the Euro bailout fund, and shield banks from the fallout. They hope that corrupt millionaire Obama can be enticed to save Europe. Europe wants a redistribution of American wealth and can’t understand why millionaire Obama has not yet made Americans foot Europe’s bill.

American Economy
Last Week’s Summary
The prognosis is that the housing sector is now recovering and could gap upward in valuation any time now.
Empire Manufacturing Oct improved slightly to -8.48 from -8.82 better but not good
Industrial Production Sep same at 0.2% good
Capacity Utilization Sep same at 77.4% good
Core PPI Sep 0.2% vs 0.1% last month or a 1.2% low inflation rate. Very good!
Net long-term TIC Flows Aug $57.9B vs $9.5B means lots of investment money is flowing in from other countries. Very very good!
NAHB Housing Market Index Oct was 18 vs 14 last month means continues to pick up. Very good!
Core CPI Sep 0.1% vs 0.2% last month

Yesterday
Case-Shiller 20-city Index Aug -3.80% not much better than last months -4.11%
Consumer Confidence Oct 39.8 terrible down from 45.4 due to Obama
FHFA Housing Price Index Aug -0.1% worse than last months 0.8% improvement

This Week
Oct 26 7:00 AM MBA Mortgage Index 10/22
Oct 26 8:30 AM Durable Orders Sep-
Oct 26 8:30 AM Durable Orders -ex Transportation Sep
Oct 26 10:00 AM New Home Sales Sep
Oct 26 10:30 AM Crude Inventories 10/22

Oct 27 8:30 AM Initial Claims 10/22
Oct 27 8:30 AM Continuing Claims 10/15
Oct 27 8:30 AM GDP-Adv. Q3
Oct 27 8:30 AM GDP Deflator Q3
Oct 27 10:00 AM Pending Home Sales Aug

Oct 28 8:30 AM Personal Income Sep
Oct 28 8:30 AM Personal Spending Sep
Oct 28 8:30 AM PCE Prices - Core Sep
Oct 28 8:30 AM Employment Cost Index Q3
Oct 28 9:55 AM Michigan Sentiment - Final

Market Outlook October 26 2011

The NYSE is already 50% of the way back to its July, 22,2011 level. That meets our prediction that, “We still expect a normal advance of at least 50% of the total recent decline and possibly as much as 90% recovery.” We now are looking at a 200DMA to see if there is a chance the bull market will come back the way it came back last fall.
See:
http://finance.yahoo.com/echarts?s=^NYA+Interactive#chart3:symbol=^nya;range=5y;indicator=ema(200,100)+volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined

America has not had a double dip recession yet, but Obama still is preventing Congress from cutting government waste. The way American industry has been able to survive has been to cut waste and not reward incompetence and laziness. Government needs to cut government pensions and health benefits and require they live on Social Security and the same health plans as other Americans. Starting in April, the banks began net loaning of money to small corporations. Since September, international trade now has flattened. See 1yr chart. You may need to cut and paste this in:
http://www.bloomberg.com/apps/quote?ticker=BDIY:IND

Stock market update:
Asian Stocks were mixed up again last night and did not follow America down. China up 0.7%, Hong Kong up 0.5%, India up 0.2%, Taiwan up 0.6% and Japan down -0.2%.

European markets are mixed today in a range 0% to +1.2% half way through their day.

American market futures are up about 0.6% at 9 AM EST. US market futures rarely have any predictive correlation.