The net Obama economic growth adjusted for inflation continues at a zero rate after the initial sharp 2009 decline.

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.

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 Obama has already 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.

Florida has an 11.(% foreclosure rate with home prices down 49%, a 9.9% unemployment rate, and the nation’s highest mortgage delinquency rate at 17.4%.

The stock market has been having a government gridlock rally. Gridlock is much better for the economy than Obama. Wealth redistribution is Obama’s code word for vote buying. Obama/Greek style union/state worker government corruption is killing America.


World markets
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.

Stocks advanced in Europe as China pledged to help resolve Europe’s debt crisis and the leaders of Greece’s two biggest political parties said they would provide written pledges to keep their promises this time if re-elected in exchange for a European Union-led bailout. However they may all lose their elections so their political promises mean nothing.

Moody’s downgraded Spain to A3 from A1, Italy to A3 from A2 and Portugal to Ba3 from Ba2, all with negative outlooks. Slovakia, Slovenia and Malta also had their ratings lowered. Moody’s said it might strip France and the U.K. of their top Aaa ratings, citing Europe’s debt crisis. The USA which has never defaulted in its existence is currently rated as low as France and the U.K. due to Obama’s expensive vote buying with 50% (Obama voters) now paying no Federal income taxes and 70% getting back more than they pay in. Emerging-market stocks fell.

Brazil’s retail sales rose more than analysts expected in December to almost their accelerating inflation rate.

Olympus Corp, the Japanese camera maker that admitted a 13-year accounting fraud, predicted a $412 Million annual loss that was worse than analysts’ estimates as it wrote off equipment damaged by Thailand’s record floods.

Announced European workforce reductions surged to 94,369 through Feb. 10 from 26,561 this time last year. These losses are now running at the fastest pace since a 2009 peak, when the European and U.S. economies had the deepest slump since World War II. Now, based on economists’ estimates, Europe’s debt crises are said likely to spur a 0.5 percent contraction in the Euro- area economy in 2012.

Norway faces a “severe” credit shock. “Soaring household debt and home prices are a good reason for concern,” Baltzersen said of the housing bubble forming. “Both the household debt-to- income ratio and the house price level have reached historic records and household debt is still growing faster than income.”

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

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

Yesterday
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

This Week
Feb 15 7:00 AM MBA Mortgage Index 02/11
Feb 15 8:30 AM Empire Manufacturing Feb
Feb 15 9:00 AM Net Long-Term TIC Flows Dec
Feb 15 9:15 AM Industrial Production Jan
Feb 15 9:15 AM Capacity Utilization Jan
Feb 15 10:00 AM NAHB Housing Market Index Feb
Feb 15 10:30 AM Crude Inventories 02/11
Feb 15 2:00 PM FOMC Minutes 1/25
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 15, 2012
The world is bracing now for a recession in Europe and a slowdown in China. The EU economy contracted 0.3% last month. Market volume is decreasing at a rate of 10% per year under Obama policy concerns.

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 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 up last night. China up 09%, Hong Kong up 2.1%, India up 2%, and Japan up 2.3%

European markets are up today in a range 0.5% to +1.4% half way through their day.

American market futures are up about 0.7% in after hour trading at 8 AM EST.