Eventually the leftists will go the way of the Neanderthal due to their evolutionary disadvantage, their gullibility.

Leftist health nuts would do better not listening to their leftist nutrition “experts” and their incompetent climatologists as they are frauds and falsify their data. Once again leftists frauds are killing gullible leftists not helping them. It has just been proven that daily use of vitamin E increased (not decreases as leftists claimed) the risk of prostate cancer in healthy men by17%. Some 30 years ago gullible leftists stopped eating eggs based on fraudulent leftist claims of increased risk of heart attacks, when in fact it was later proven that eggs were balanced with good cholesterol and the leftist incompetent experts just fraudulently made up their facts. The nutritionists and climatologists tend to be leftists and are only believed by leftists. Being a leftist is evidently a mental disability. Perhaps that is why so many of them send their children to psychologists. Eventually the leftists will go the way of the Neanderthal due to their evolutionary disadvantage, their gullibility.

Sprint began selling the iPhone this month for the first time, and subsidizes the cost to consumers in exchange for service revenue. That causes upfront expenses and makes Sprint users quit Sprint when they see charges skyrocket.

Romney now looks like the Republican candidate. Among other things Wall Street Week credits him with cleaning up the Boston harbor. In 2005 he made it clear that he did not support a climate change agreement based on the “leftist environmental theology.” Over 31000 scientists have joined Edward Teller in signing a petition denying there is any credible evidence man-made global warming. What we have is a global crisis of man caused climatoligist fraud. See http://en.wikipedia.org/wiki/Edward_Teller
and
http://www.oism.org/pproject/pproject.htm#41

The world economy did not double dip which means Europe can grow its way out of their crisis this time.
When George Bush was elected we had Steve Jobs, Johnny Cash, and Bob Hope. But with Obama there are no jobs, nor cash nor hope.

World markets

Hellenic Telecommunications Organization has dropped 84 percent since Deutsche Telekom (DTE) began buying shares in the Greek operator in 2008. The German owner will now try to turnaround the company to recoup some of the 4 billion euros ($5.5 billion) in investments.

Research In Motion (RIM) BlackBerry service was disrupted for a third day in the U.K. and India after an apparent saturation attack to try to drive them out of business. A switch could not keep up with the usage rate and caused snags across Europe, the Middle East and Africa. We could be looking at a new kind of commercial warfare. First Communist China probes you for your weaknesses and then they attack the weakness??? It is likely China because they have been caught before but possibly it is a small group of pirates in China working for RIM’s competition in Asia and attacking where they are likely to do the most damage without being too obvious.

Asian stocks rose posting its greatest five-day advance since early 2009, amid China’s support for the equity market after the valuations dropped to record-low levels. China began buying shares of the nation’s four biggest banks lifting their market. Their housing market also appears to be stabilizing.

World optimism that the world economy will not double dip but is in fact growing faster than it has in the previous year means Europe can expect to grow its way out of their crisis this time. The US real estate market and the World bulk market of trade all have been recovering since August when the stock markets fell.

World stocks are under-priced but gold and silver have a long way to fall.


American Economy
Last week summary
ISM Index Sep manufacturing rose 2% to 51.6 from 50.6 in August …good
Construction Spending Aug rose 1.4% after retreating -1.3% in August …good
Auto/truck Sales Sep Chrysler sales climbed 27 percent, GM deliveries rose 20 percent, and Ford sales increased 9 percent the companies said in separate statements. …good
Nonfarm private and government Payrolls Sep 103K up from 0K …good
Nonfarm Private Payrolls Sep 137K up from 17K …good
Unemployment Rate Sep 9.1% unchanged …good
Hourly Earnings Sep up 0.2% after declining -0.1% last month…good
Average Workweek Sep 34.3 up from 34.2- …good
Wholesale Inventories Aug 0.4% down from 0.8% …good

Today
Oct 12 2:00 PM FOMC Minutes Sep. 21
Oct 12 7:00 AM MBA Mortgage Index 10/08
Oct 12 2:00 PM FOMC Minutes Sep. 21

This week
Oct 13 8:30 AM Initial Claims 10/08
Oct 13 8:30 AM Continuing Claims 10/01
Oct 13 8:30 AM Trade Balance Aug
Oct 13 11:00 AM Crude Inventories 10/08
Oct 13 2:00 PM Treasury Budget Sep
Oct 14 8:30 AM Retail Sales Sep
Oct 14 8:30 AM Retail Sales ex-auto Sep
Oct 14 8:30 AM Export Prices ex-ag. Sep
Oct 14 8:30 AM Import Prices ex-oil Sep
Oct 14 9:55 AM Mich Sentiment Oct
Oct 14 10:00 AM Business Inventories Aug

Market Outlook October 12 2011
Short selling, climbed to 11.6 percent of stock last month from 9.5 percent in July, the biggest increase since at least 2006. But the Dow rose 2.97% yesterday. However the rise was on 19% lower volume indicating a short squeeze has not even started yet!

Stocks could have to rise an additional 5% from here to trigger a short squeeze, but if they do the market could be up more than 15% from the low by Christmas. Stocks are such a bargain; China is investing excess cash in their own market and is buying international companies at bargain prices. American corporations remain sitting on record cash levels. Soon they will all jump back into the market to get a piece of these bargain prices. However, we do not believe a new high will be hit this year… but most market losses could be recovered.

We still expect a normal advance of at least 50% of the total recent decline and possibly as much as 90% recovery. But then it will be time to lighten up on equities again. See:
http://finance.yahoo.com/q/ta?s=^NYA&t=2y&l=on&z=l&q=l&p=e50%2Ce100&a=&c=

We believe America will not have a double dip recession. Since August, international trade continues to recover. See 1yr chart at:
http://www.bloomberg.com/apps/quote?ticker=BDIY:IND


Stock market update:
Asian Stocks were up sharply again last night. China up 3%, Hong Kong up 1%, India up 2.6%, Seoul up 0.8%, and Japan down –0.4%.

European markets are up slightly today in a range 0.4% to 1.9% half way through their day.

American market futures are up about 1% at 8 AM EST. US market futures rarely have any predictive correlation.