Lies, lies, and more lies as Greece’s demands even more aid on top of the 110 billion euros bailout they got in 2010

Lies, lies, and more lies as Greece’s demands even more aid on top of the 110 billion euros bailout they got in 2010 proving they are getting worse not better at managing their huge army of government workers many who have nothing to do but sleep all day. Taxpayers are rebelling against further handouts to Greece. Each day brings Greece closer to a March 20 bond redemption when it must make a 14.5 billion-euro payment or become the first country in the euro’s 13-year history to default. German economy begins to stall and they are sick and tired of having to support the lazy Greek socialists.

Rising oil prices are stalling the American economy the Fed warns. That is due to Obama shutting down American production and refusing to allow Canadian oil to flow into America.

Economist William A. Barnett says Fed’s shoddy FED data, not greedy bankers, drove Wall Street off the cliff. “While there is plenty of blame to spread around, something deeper has happened and needs to be understood to recognize the real source” of the crisis, says Barnett. That “something” was shoddy monetary data and how they fooled some of the smartest people on Wall Street. The Fed’s monetary data are poor, inadequate and “nearly useless to the public,” he says. The totals suffer from the common error of adding apples and oranges or, as he puts it, subway trains and roller skates. And on top of that the Obama data manipulators change the date to make it look worse in the following updates (that no one sees) so that Obama can pretend things improve the next time.

The net Obama economic growth adjusted for inflation continues at a zero rate after the initial sharp 2009 decline. One month of suspicious Obama economic statistics does not make an improving American economy. Both Europe and China are already slowing economically. Europe is already facing the deficit crisis that Obama’s policies will create in three years.

MSNBC is desperate to help Obama by creating an illusion of prosperity to artificially prop up the world stock markets. Their effort is pure leftist manipulation and will ultimately cause a larger market collapse. They lied and claimed the market has higher volume that shows it has legs. The average stock market volume during market improvements has been declining under Obama at a rate that exceeds 10% a year while the peak volumes during declines still exceeds the volumes during declines prior to Obama. At this time we could either see the second shoulder of a head and shoulder decline soon or another near record decline in November regardless of who is elected.

70% of Americans now take more from the tax system than they put into the system. The rioters on the streets of Greece are the children of the Greeks who robbed their welfare state and left their children a bankrupt nation. The 70% are now robbing the American system and cannot be tolerated.

The nation’s budget spending has more than doubled under Obama, pushing the annual deficit to more than $1 trillion and the national debt to $15.2 trillion. Obama’s budget today spends more than $3 trillion in the next fiscal year, and contains no accounting for where taxpayers’ money actually goes. “If the public can’t easily find and understand quality spending information, they can’t use that information to make their opinions heard by Congress,” said Sam Rosen-Amy, a federal fiscal policy analyst at the Washington-based nonprofit research group OMB Watch.

A compromise Obama offered last week that would force health insurers, and not religious-affiliated charities, to pay for contraceptives for employees of those institutions may have moved him off the defensive. The Catholic Institutions therefore would no longer have to pay directly for safe sex but would just pay a higher insurance rate. Eventually flavored scented oils will be added to the free services because socialists have determined that oral sex is safer for children under 18. This is how socialists show that they are not just intrusive they are also very stupid.

World markets

German stock market sentiment that just turned bullish now after their stock market rose 30% is a contrarian indicator. The time to sell is when investor sentiment is at its high.

Fan Jianping, chief economist at the government-run State Information Center, said that China has its lowest annual growth target in eight years as authorities acknowledge the slowing pace of expansion and the global economy weakens further.

Nestle SA, the world’s biggest food company, reported 2011 sales growth as it introduced the Nescafe Alegria coffee maker.

Sweden’s central bank abandoned a planned interest rate increases for the rest of the year as Europe’s debt crisis as policy makers warn that weak exports are destroying jobs Swedish jobs and the economy has stopped growing.

Spain issued 4.07 billion euros in securities maturing in 2015 and October 2019. The yield on Spanish borrowing costs rose. Spain had safety ratings cut by Moodys as Europe’s socialist economic contagion grows.

Stocks fell, the Euro weakened for a fifth day and commodities declined as Europe’s leaders remain divided over a Greek rescue and Moody’s Investors Service said it may now downgrade global banks. The cost of insuring government debt against default rose to a new high.

The car market in France declined. Renault’s earnings before interest, taxes fell 0.7 percent last year. Free cash flow from the car-manufacturing unit was positive at 1.08 billion euros ($1.4 billion). Peugeot saw a 27 percent operating profit drop and a negative cash flow of 1.65 billion euros.

OCI Co., the world’s second-largest maker of polysilicon for Obama’s failed economy crippling solar panel energy policy, fell the most in more than three months in Seoul trading after Citigroup Inc. said Germany will likely cut industry subsidies by more than 20 percent.

European Union’s statistics office reported today that the total Gross domestic product in the 17-nation euro area fell 0.3 percent from the prior three months, the first drop since the second quarter of 2009 Moody’s Investors Service cut the ratings of six of the region’s member states on Feb. 13, saying policy makers haven’t done enough to restore investor confidence. European Central Bank President Mario Draghi said that the ECB averted a credit crunch with its three-year loans to lenders in December. The central bank will offer another round of financing, known as LTRO, at the end of February. It was also reported that industrial production in the 17-nation eurozone declined 1.1% in December.

Elpida Memory Inc. fell 14 percent in Tokyo trading and its convertible bonds had a record drop after the chipmaker said there is “uncertainty” over its viability because it lacks financing for debt due in April.

Swisscom, Switzerland’s largest phone company, dropped the most in six months in Zurich after predicting lower revenue and an unchanged dividend for 2012 and posted its first quarterly loss since 2002.


Asian markets (especially China) have still failed to break out some on the third and fourth times at resistance levels. China’s stocks could fall 50% from here if Obama’s announced world wide “Great Depression” spreads there too.
http://finance.yahoo.com/q/ta?s=000001.SS&t=2y&l=on&z=l&q=l&p=e200%2Ce100&a=&c=

Germany broke through the resistance levels: 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 may be hitting a limit now with a head and shoulder sell signal. Choose 2 or 5 years http://finance.yahoo.com/echarts?s=%5ESSMI+Interactive#chart1:symbol=^ssmi;range=2y;indicator=ema(200,100)+volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined

Emerging markets show strength. Brazil broke through
http://finance.yahoo.com/echarts?s=^BVSP+Interactive#chart1:symbol=^bvsp;range=2y;indicator=ema(100,200)+volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined

American Economy
Incyte Corp that won U.S. approval to sell the first treatment for patients with a rare bone-marrow disease, reported a fourth-quarter net loss of $55.1 million and fell 5.5 percent in the biggest single-day decline since Oct. 13.

PepsiCo Inc. strategy to sell more Tropicana brand Oj is to Add water to its new products like parents do anyway.
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The Federal Communications Commission won’t let LightSquared begin service after the Obama administration claimed it disrupts navigation gear used by planes, boats and autos. LightSquared had invested $4 billion in its plan to offer service that lets users browse the Web at higher speeds.

The combined value of Google and Microsoft, Apple’s two main phone platform rivals is now less than Apple’s market cap. Apple’s market capitalization topped $460 billion while Exxon’s value is just under $397 billion. Of course Steve Jobs only died last October so it may be a few more months before Apple runs out of great new products. By this time next year we predict the price of Apple stock will be less the $250 per share or half the current price.

Last week
Consumer Credit Dec $19.3B down from $20.4B Consumer demand declined, not good
MBA Mortgage Index 02/04 +7.5% up from -2.9% due to seasonal effects
Crude Inventories 02/04 0.304M down from 4.175M
Initial Claims 02/04 358K down slightly from 367K Not Bad
Continuing Claims 01/28 3515K up from 3437K Not good
Feb 9 10:00 AM Wholesale Inventories Dec 1.0% up sharply from 0.1% Decreasing is good. This is bad
Trade Balance Dec -$48.8B 2% worse at $47.8B got worse again
Mich Sentiment Feb 72.5 declined from 75.0 not good
Treasury Budget Jan -$27.down from -$49.8B not reliable
Retail Sales Jan 0.4% up from 0.1% like the USSR Makes no sense
Retail Sales ex-auto Jan 0.7% up from -0.2% like the USSR Makes no sense
Export Prices ex-ag. Jan 0.0% up from -0.2% Ok
Import Prices ex-oil Jan 0.1% down from 0.2% good
Business Inventories Dec 0.4% up from 0.3% not good

Yesterday
MBA Mortgage Index 02/11 -1.0% NA NA 7.5% -
Feb 15 8:30 AM Empire Manufacturing Feb 19.5 up from 13.5 – good NY manufacturing
Feb 15 9:00 AM Net Long-Term TIC Flows Dec $17.9B down from $59.8B very bad-This means foreign investment in the USA is plummeting. Not Good
Feb 15 9:15 AM Industrial Production Jan 0.0% plummeted from 0.4% Not Good
Feb 15 9:15 AM Capacity Utilization Jan 78.5% up slightly 78.1% flat
Feb 15 10:00 AM NAHB Housing Market Index Feb 29 up from 25 seasonal
Feb 15 10:30 AM Crude Inventories 02/11 -0.171M down 0.304M flat

This Week
Feb 16 8:30 AM Initial Claims 02/11
Feb 16 8:30 AM Continuing Claims 02/04
Feb 16 8:30 AM Housing Starts Jan
Feb 16 8:30 AM Building Permits Jan
Feb 16 8:30 AM PPI Jan
Feb 16 8:30 AM Core PPI Jan
Feb 16 10:00 AM Philadelphia Fed Feb
Feb 17 8:30 AM CPI Jan
Feb 17 8:30 AM Core CPI Jan
Feb 17 10:00 AM Leading Indicators Jan

Market outlook February 16, 2012
Thanks to Obama’s windmills but no oil from Canada, high oil prices are causing the American economy to stall now. The world is bracing now for a recession in Europe, a slowdown in China and now a stalling American economy. The EU economy contracted 0.3% last month. Stock market volume is decreasing at a rate of 10% per year under Obama policy concerns. The FED is now considering buying bonds again simply because investors are beginning to demand higher bond interest rates. Investors see that Obama is turning America into a super-Greece.

Market at 2008 level and still looks ready to plunge. Stock volume is incredibly thin making it easy to manipulate the market higher… until the funds pull the plug again.

The VIX may be starting to rise. A sharp computer sell-off could end the current rally any moment now and trigger huge stop-losses.
http://finance.yahoo.com/q/bc?s=%5EVIX&t=2y&l=on&z=m&q=l&c=

Bulk shipments are beginning to rise again and stock prices of bulk shippers soared even though they will continue to face high losses in the months ahead. Most of the rise however is from short sellers covering themselves. It will probably take a year for the industry to really recover because Asia and Europe have stagnant growth and Obama stagnation continues with growth driven entirely by inflation of less than 2.5% per year. The net Obama economic growth adjusted for inflation continues at a zero rate after the initial sharp decline. Trade had collapsed to the lowest world bulk trade level that existed since Obama started the Obama Great Depression in one of his 2007-2008 campaign speeches. In the past, a decline like this set off alarms around the financial world because it implies supply exceeds demand and something has to give.
http://www.bloomberg.com/apps/quote?ticker=BDIY:IND

Stock market update:
Asian Stock markets were down last night. China down –0.4%, Hong Kong down –0.4%, India down –0.3%, and Japan down –0.2%.

European markets are down today in a range -0.1% to -1.3% half way through their day.

American market futures are up about -0.4% in after hour trading at 8 AM EST.