Remember that GE/MSNBC/Pravda/ Jim Cramer said it bottomed in July of 2009, 17 months ago and now Jimmy is at DEFCON 2.
Democrat-socialists run from the Capitol after getting nothing done so that Obama can take is tenth vacation this year without people noticing.
Socialists say the problem is between the rich and the poor. Most Americans now know the problem in America is really between the:
1. educated and/or competent and/or hard working people vs. the
2. uneducated and/or incompetent and/or lazy.
It is up to people to decide how they would like to live. Normal people can chose either to be any one or more of educated and/or competent and/or hard working people. But if someone chooses all three of the irresponsible behaviors (to be uneducated, and to be incompetent for any job, and to be lazy) they then end up very poor indeed in any society and it is entirely their own doing. . In socialist countries the problem is that the moron socialist commissars and political appointee Czars get rich quick. But the problem is not that they are rich but that they form the dictatorship of the proletariat.
World markets
The IFW and RWI institutes both released predictions showing similar 2012 economic growth for Germany and there will be no debt crisis or recession in Germany in 2012. The Munich-based Ifo institute’s business climate index, based on a survey of 7,000 executives, today climbed to 107.2 from 106.6 in November. American economists had predicted a decline. Business confidence in America is also increasing for a gradual economic advance in 2012.
Since the European Central Bank offered unlimited three-year loans to the region’s banks it has stabilized the European situation and boosting demand for higher-yielding assets. Spanish government notes and Italian bonds are gaining.
Sweden’s central bank cut its main interest rate to stimulate growth next year.
With such corruption even among “friendly” Asian nations, investments in Asia could be a 1998 type disaster in 2012.
Hong Kong rents, fell last quarter for the first time since mid-2009, are continuing their fall and banks and hedge funds are dumping such investments amid the threat of an Asian financial crisis like the late 1990’s.
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Indian stocks are ending 2011 with the worst decline among the world’s largest equity markets, and analysts say the worst is still just around the corner for India.
China’s stock market is also now breaking down below the lows of July 2010. That means the tide that carries all Asian ships is falling and we can expect many new shipwrecks on the China reefs because this could be the first major disruption of China’s credit and their first major Asian stock market panic, world wide. It could also be China’s first venture into personal liberty and a much more prosperous future. Chinese people in villages are demonstrating for liberty against their government that is driving them off of traditional farmlands.
World markets are failing to break out some on the second and third times at resistance levels.
http://finance.yahoo.com/intlindices?e=asia
China testing recent lows. http://finance.yahoo.com/echarts?s=000001.SS+Interactive#chart1:symbol=000001.ss;range=2y;indicator=ema(200,100)+volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined
Germany testing resistance level: Choose 2 or 5 years
http://finance.yahoo.com/echarts?s=%5EGDAXI+Interactive#chart2:symbol=^gdaxi;range=2y;indicator=ema(200,100)+volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on
The Swiss testing resistance level. Choose 2 or 5 years http://finance.yahoo.com/echarts?s=%5ESSMI+Interactive#chart1:symbol=^ssmi;range=2y;indicator=volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined
Emerging markets triple bounce but still testing resistance level.
http://finance.yahoo.com/echarts?s=^BVSP+Interactive#chart1:symbol=^bvsp;range=2y;indicator=volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefine
American Economy
The US economy may not dip as Americans increasingly have hope that the Obama Regime will be thrown out of office so Americans can change back to an honest free enterprise system. Obama administration corruption rivals that of Greece and Italy.
This Week So Far
NAHB Housing Market Index Dec now 21 up from 20, possibly another bottom indication. Good
Housing Starts Nov 685K Up 8% from October’s 628K Unusually good since winter is setting in.
Building Permits Nov 681K up 4% from 653K last month. Unusually good
Today
Dec 21 7:00 AM MBA Mortgage Index 12/17
Dec 21 10:00 AM Existing Home Sales Nov
Dec 21 10:30 AM Crude Inventories 12/17
This Week
Dec 22 8:30 AM Initial Claims 12/17
Dec 22 8:30 AM Continuing Claims 12/10
Dec 22 8:30 AM GDP - Third Estimate Q3
Dec 22 8:30 AM GDP Deflator - Third Estimate Q3
Dec 22 9:55 AM Michigan Sentiment - Final Dec
Dec 22 10:00 AM Leading Indicators Nov
Dec 22 10:00 AM FHFA Housing Price Index Oct
Dec 23 8:30 AM Durable Orders Nov
Dec 23 8:30 AM Durable Goods Orders -ex Transportation Dec
Dec 23 8:30 AM Personal Income Nov
Dec 23 8:30 AM Personal Spending Nov
Dec 23 8:30 AM PCE Prices - Core Nov
Dec 23 10:00 AM New Home Sales Nov
Market outlook December 21, 2011
Stocks surged almost 3% as investors reject GE/MSNBC/Pravda’s Jim Cramer with his DEFCON 2 nuclear attack readiness warning. In addition to an improving economic outlook, investors are getting back into the stock market as “safe” sovereign bonds wrack up losses. That is bullish but we should be ready to take profits. Now is when people are taking losses for tax purposes but if investors suddenly become bullish the selling will become scarce and the buying frenzy will quickly push the market up. Remember though that January was very good last year and the market went down significantly afterwards. But American stocks are still well above this year’s lows and could still rise close to this past year’s highs by the end of January. The NYSE MACD is definitely bullish and implies we could see the bull market last until November 2012.
http://www.martincapital.com/index.php?page=graph&view=macd
Real estate has turned the corner with the latest housing starts and recent NAHB survey giving more confirmations. But the market will not take off until Americans are confident that Obama and his leftist supporters will be ejected in 2012. Six Fannie and Freddie democrat-socialist corrupt democrat-socialist appointees have now been charged with fraud. Newt Gingrich rises in the polls even after it is disclosed he tool $1.5 million for his advice to Fannie and Freddie not to give liar loans. We advised the same thing but we did it at no charge to taxpayers.
http://www.martincapital.com/index.php?page=graph&view=permits_and_construction
When it comes to jobs, Obama has to manipulate the government statistics just like all communists do to pretend things are better. Sales are up because consumers have been refinancing dropping their monthly expenses. http://www.martincapital.com/index.php?page=graph&view=unemployment
The VIX has is 24 approaching 20 which would indicate complacency.
http://finance.yahoo.com/q/bc?s=%5EVIX&t=6m&l=on&z=m&q=l&c=
We had advanced once over 60% of the total recent August decline and predict we could possibly have as much as 95% recovery. But realize that as the upside potential is approached, then the downside risk exceeds the upside potential and it is time to lighten up. Also, remember January was very good last year and the market went down significantly afterwards so January is not necessarily a good predictor for the year. View 1yr. See:
http://finance.yahoo.com/echarts?s=^NYA+Interactive#chart4:symbol=^nya;range=1y;indicator=ema(200,100)+volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined
Growth in bulk shipments in November was down and still at less than 20% of the bulk trade level that existed before Obama declared the USA was in a depression in one of his 2007 campaign speeches. Obama and Dodd caused the fear that triggered the only American bank run of the recent Obama/Dodd depression. http://www.bloomberg.com/apps/quote?ticker=BDIY:IND
Stock market update:
Asian Stock markets were up last night. China down –1.1%, Hong Kong up 1.9%, India up 3.4%, S. Korea up 3.1% and Japan up 1.5%.
European markets are up today in a range -0.1% to +1% half way through their day.
American market futures are up about +0.2% in after hour trading at 7:30 AM EST. It is an unreliable predictor.
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