These American embarrassments have only begun since Obama became president. Previously it was the terrorists who embarrassed themselves

The U.S. embassy “suspended all travel for embassy personnel in Kabul until further notice and ordered any personnel not at a secure compound to return to the embassy immediately.” The U.S. mission also halted staff members’ movements in the country’s second-largest city, Kandahar, acting embassy spokesman Mark Thornburg said in a separate e-mail. The Korans were damaged after soldiers culled them, with other books, from a library at a prison for alleged Taliban and allied Islamic militant fighters, an ISAF statement said. The books were used to send messages and plan murders and prison breakouts. It is amazing that Obama allows the enemy to have any writing materials or other means of communicating when in prison. That would explain the breakouts and the murder of Afgan police who enforce peace. These American embarrassments have only begun since Obama became president. Previously it was the terrorists who embarrassed themselves but since Obama makes the rules Americans are doing stupid things and are embarrassed. But this sloppy Obama administration seems to enjoy putting Americans in danger when traveling abroad.

Toll Brothers reports first-quarter loss as homebuilder’s revenue declines.

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.

US Home ownership went from 64% before liar loans down to 62% home ownership with the “Obama Liar Loan World Depression”.


World markets
Pretending Greece will not default will not work, says Fitch. Fitch downgraded the Greek credit rating to C from CCC and warned that reducing the country's public debt via an exchange with private creditor’s haircuts, a key part of the EU bailout package, would still 'constitute a ratings default.' Forcing bankrupted creditors to smile does not constitute a viable economic system. It is a “Big Communist Lie”. Real economies do not have to lie.

A Purchasing Managers Index report showed services and manufacturing expansion in the euro area unexpectedly contracted in February. The EU economy contracted 0.3% the previous month.

Sweden’s central bank cut interest rates for a second- straight meeting on Feb. 16 after exports, accounting for about half of the nation’s output, fell 6 percent in December. Norway’s foreign trade slid 4.3 percent in the fourth quarter. The Swedish krona is about 25 percent too expensive, and the Norwegian krone more than 40 percent based on an Organization for Economic Cooperation and Development measure of the relative costs of goods and services.

Oil rose to the highest level in more than nine months after euro-area finance ministers agreed on a second bailout for Greece, reducing concern that the debt crisis may slow the economy and oil consumption.

“The danger of Greece falling into economic depression and having to default and exit the common currency zone remains substantial,” said Christian Schulz, an economist at Berenberg Bank in London. \
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

DELL fell in after-hours trading on Tuesday, as the PC maker earnings slid and net income that fell 18% to $764 million, compared with last year’s earnings of $927 million.
Home Depot reported profits up 20% but primarily because it was so extremely low last year.


Last Friday
CPI Jan 0.2% up from 0.0% or 2.4% inflation/yr
Core CPI Jan 0.2% up from 0.1% or 2.4% inflation /yr
Leading Indicators Jan 0.4% constant 0.4% or 2.8% /yr net growth rate

This Week
Feb 22 7:00 AM MBA Mortgage Index 02/18
Feb 22 10:00 AM Existing Home Sales Jan
Feb 23 8:30 AM Initial Claims 02/18
Feb 23 8:30 AM Continuing Claims 02/11
Feb 23 10:00 AM FHFA Housing Price Index Dec
Feb 23 11:00 AM Crude Inventories 02/18
Feb 24 9:55 AM Michigan Sentiment - Final Feb
Feb 24 10:00 AM New Home Sales Jan

Market outlook February 22, 2012

Head and shoulders sell signals are forming in S&P and NYSE. DOW rails do not confirm the DOW industrial’s rise. Market nears a precipice of negative economic data.

Stock 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… until the funds pull the plug again.

The VIX shows complacency. 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 flat lining again and bulk shippers continue to face high losses in the months ahead.
http://www.bloomberg.com/apps/quote?ticker=BDIY:IND

Stock market update:
Asian Stock markets were up last night. China up 0.9%, Hong Kong up 0.3%, India up 0%, and Japan up 0.9%.

European markets are down again today in a range -0.3 % to –1.3% half way through their day.

American market futures are down about -0.1% in after hour trading at 9 AM EST.