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

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.

Wells Fargo CEO said Friday that we went from 64% of the nation owning homes quickly up to 67% home ownership giving out Freddie and Fanny “liar loans” and now it is worse at 62%. Racially oriented liar loans (and it was racial if you look at the disproportionate number of the liar loan given to one race…. i.e. “reverse discrimination” almost brought down the entire world! US Home ownership went from 64% down to 62% home ownership with the “Obama Liar Loan World Depression.”


World markets
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
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
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
MBA Mortgage Index 02/11 -1.0% NA NA 7.5% -
Empire Manufacturing Feb 19.5 up from 13.5 – good NY manufacturing
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
Industrial Production Jan 0.0% plummeted from 0.4% Not Good
Capacity Utilization Jan 78.5% up slightly 78.1% flat
NAHB Housing Market Index Feb 29 up from 25 seasonal
Crude Inventories 02/11 -0.171M down 0.304M flat
Initial Claims 02/11 348K down from 358K good
Continuing Claims 02/04 3426K down from 3515K good
Housing Starts Jan 699K up from 657K good
Building Permits Jan 676K down from 679K not good
PPI Jan 0.1up from -0.1% - reasonable 1.2% inflation
Core PPI Jan 0.4% up from 0.3% -
Philadelphia Fed Feb 10.2 up from 7.3 good

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 21, 2012

Head and shoulders sell signals are forming in S&P and NYSE. DOW rails do not confirm the DOW industrial’s rise.

Unemployment pollster on Squawk Box says the low unemployment reports are based on biased 1000 person polls. They do 30,000 person polls and it shows unemployment still at 9%.

Home Depot reported profits up 20% but primarily because it was so extremely low last year.

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.
http://www.bloomberg.com/apps/quote?ticker=BDIY:IND

Stock market update:
Asian Stock markets were up last night. China up 0.7%, Hong Kong up 0.2%, India up 0.7%, and Japan down –0.2%.

European markets are down today in a range 0 % to –0.9% half way through their day.

American market futures are up about 0.2% in after hour trading at 9 AM EST.