Americans are beginning to realize that the elections of 2012 may be the last hope of saving America

The American Mass media is a Nazi-commi-socialist-effite snob propaganda machine that would make Joseph Goebbels and Josef Mengele proud that their life’s work to perfect elite government physical and psychological control is alive and stronger than ever. True Americans are beginning to realize that the elections of 2012 may be the last hope of saving America and therefore the rest of the world from totalitarianism, terror, and mass genocide of the same people who always get slaughtered… the ones who want big government the most… the stupid, lazy, unemployable, and the mentally or physically ill… by definition. Big government wants to perfect the human race so the smart people (to survive) realize they are forced to submit like sheep to avoid the slaughter. And then the government begins the elimination of all the people who make the cost on socialized medicine and welfare so high. They are the sick, stupid and unemployable… over and over again since ancient Greece to the disappearing peoples under many dictatorships, not just Hitler. The stupid people are not dumb. The stupid people are the people who think they are smart and have an angle and can profit from totalitarianism. They are people like MSNBC propagandists who think big government is the solution until they discover that the next Hitler or Stalin makes their extermination the official government permanent solution. The people clamoring today for big government to take control of their lives may discover that they could get their wish. They will be hated by everyone who wants to save America’s human liberties, human compassion, and free enterprise. The ones who want faceless government welfare to replace individual compassion and charity will discover that faceless government has put them first in line for the ovens built for the next holocaust. They will be despised because they betrayed humanity by siding with totalitarianism against liberty and no one will dare try to rescue them except a few freedom loving compassionate people working secretly and risking their lives to save one or two of the people all dictators just love to hate.

The word is out that Obama will not run for president again and Hilary will take his place. That is the only possibility left that will allow Socialist-Democrats to hold onto the presidency. Everyone now knows that Obama is a dunce without his teleprompters and he is full of crap on just about everything he says. In fact we did a Google Search on, “Obama crap”, and got “About 79,500,000 results” in 0.22 seconds search time. See:
http://www.youtube.com/watch?v=RRRy-QlQyUw

http://www.youtube.com/watch?v=L3S09QPlsg8

http://www.google.com/#hl=en&cp=10&gs_id=4&xhr=t&q=Obama+crap&pf=p&sclient=psy-ab&site=&source=hp&pbx=1&oq=Obama+crap&aq=0&aqi=g1g-v3&aql=&gs_sm=&gs_upl=&bav=on.2,or.r_gc.r_pw.,cf.osb&fp=298cfbc9b6f1239a&biw=914&bih=844

World markets

Emerging markets appear to have bottomed out and even the bears are now putting their toes in the cold water. But that is true of most world markets. Obama/MSNBC/Pravda say today that the sky is falling today for sure so that must mean it is time to buy equities again because those leftists are full of something, and that something ain’t smarts.

Oil plunged 17% in 3Q, the worst quarter since '08. It is time to buy fuel oil for winter!

Germany muddles on as the leader of Europe muddling.

We expect another world wide bull market now if the lows of last year continue to hold. It is very rare that a bull market ends with no second shoulder on the head and shoulders bear market signal. A bull market could last three to six months until it becomes apparent that the communist-socialist contagion in Europe is once again out of control. But that realization could be delayed until the warm weather when the union dead beats come out to throw rocks again. Actually Greece may not get any EU funding until the end of October so that may create another rock throwing Greek cave-man uprising this month.


American Economy
Last week summary
The housing market in America turned favorable in September.
MBA Mortgage Purchase Index 09/10 up +6.3% after being down -4.9% last month. Great news again for housing.
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.
Case-Shiller 20-city Index Jul sales improved 0.41% relative to last year.
MBA Mortgage Index 09/24 shot up +9.3% compared with a 0.6% improvement last month. Housing continues to improve now.
Initial Claims 09/24 declined to 391K from 423K last week, very good
GDP - Third Estimate Q2 1.3% raised from previous estimate of 1.0%
Pending Home Sales Aug 88.6 is 7.7 percent above August 2010 when it stood at only 82.3. The data reflects contracts not closings.

Friday
Personal Income Aug -0.1% declined from 0.3% in July, deflationary
Personal Spending Aug 0.2% declined from 0.8% in July, 2.4% annual, low inflation
PCE Prices - Core Aug 0.1% declined from 0.2% in July, 1.2$ low price inflation
Chicago PMI Sep 60.4 rose from 56.5 in July –good production number
Michigan Sentiment - Final Sep 59.4 up from 57.8 in July –good turnaround

Gold is down 20% in September and the US dollar is again the best horse in the glue factory.

ISM Index Sep manufacturing rose 2% to 51.6 from 50.6 in August
Construction Spending Aug rose 1.4% after retreating -1.3% in August
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.

This week
Oct 4 10:00 AM Factory Orders Aug

Oct 5 7:00 AM MBA Mortgage Index 10/01
Oct 5 7:30 AM Challenger Job Cuts Sep
Oct 5 8:15 AM ADP Employment Change Sep -
Oct 5 10:00 AM ISM Services Sep
Oct 5 10:30 AM Crude Inventories 10/01

Oct 6 8:30 AM Initial Claims 10/01
Oct 6 8:30 AM Continuing Claims 09/24

Oct 7 8:30 AM Nonfarm Payrolls Sep
Oct 7 8:30 AM Nonfarm Private Payrolls Sep
Oct 7 8:30 AM Unemployment Rate Sep
Oct 7 8:30 AM Hourly Earnings Sep
Oct 7 8:30 AM Average Workweek Sep
Oct 7 10:00 AM Wholesale Inventories Aug
Oct 7 3:00 PM Consumer Credit Aug

Evidence continues to mount that the American housing crisis has hit bottom and the housing industry is now improving.

Market Outlook October 4 2011
Today could be a tumultuous day for all the world markets. It is not just economics. It is the growing groups of people who think authoritarian welfare states are something good. It is happening on every continent. They are leftists who are continually trying to shackle free enterprise and human liberties. They want to tell us what we can eat, what we should drive, what should be built, and worst of all they think they know just what you are worth and say they have the right to your money because they say it is their government’s money. Unless they are all thrown out of power very soon (2012) we are on a road to totalitarianism and a holocaust of… you got it, the leftists are always paranoid and first to turn on themselves to rid themselves of corruption and purify their group. Then they go after the weak and slow to learn, the unemployable… the institutionalized and welfare recipients.

We need to fight the good fight, the American just and lawful fight at the ballot box not with violence. The good news is there is still time and the economy still can recover in spite of leftist corruption and squandering to buy votes. In the USA housing has bottomed and is now recovering. Construction spending appears to have bottomed out, and sales and sales prices are rising again.

We are still growing our way out of idiot Obama’s campaign proclaimed “Great Depression.” And then Obama said, “It ain’t my fault.”

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. It is not a head-and-shoulders sell signal until or if this recent neckline is broken perhaps in three to six months. 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 down again last night. China down 0.26%, Hong Kong down –3.4%, India down -1.8%, Taiwan up 0.5%, and Japan down -1.1%.

European markets are down today in a range –1.9% to –3.5% half way through their day.
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American market futures are down –0.5% to –0.7% at 7:30AM EST. US market futures rarely have any predictive accuracy.