The U.S. Supreme Court has all the justices questioning Obama’s ignorant assertions of federal power on both health care and immigration. Both cases pit Obama’s clearly incompetent administration

The U.S. Supreme Court has all the justices questioning Obama’s ignorant assertions of federal power on both health care and immigration. Both cases pit Obama’s clearly incompetent administration against most Americans over the federal abdication of its power to protect Americans and federal collectivist dictatorial power mandating USSR failed socialist style medicine.


Apple’s stock price will crumble over the next two quarters. Actually Apple had its best quarter last year and this latest great quarter is hype because it comes from analysts not comparing this “product introductory quarter” with the introduction quarter last year. If they did a valid comparison they would see Apple profits peaked last year and their latest product is not doing as well as last year’s new product. The only quarters when apple does well are the ones when a new product is introduced. There is nothing planned the next two quarters. China is also challenging Apple for the use of the name IPAD. It seems Apple got the right to use the name from a Taiwan subsidiary and not from the mainland China headquarters. If Apple gave a dividend equal to its total pot of cash it would only be $30/share or 4% and it would all be gone. At current prices any Apple dividend would be too small to matter. Apple has lost its creator for the final time and each time that has happened Apple has plunged 80% or more starting as soon as investors saw the paltry progress they made without Steve Jobs. Steve Jobs can never rescue Apple again!

Samsung overtook Apple as No. 1 Smartphone Maker in the 1st Quarter

The reason we will always have the poor among us is because most of the poor are not disabled or physically or mentally challenged. Most of the poor have chosen their life style because they chose “a fast buck” and they quickly dissipate anything they inherit or get from the government. They have been scammed so many times by their “friends” and have failed so many times to accumulate anything that they have given up trying and have accepted a culture of ignorance, lethargy, scams, irresponsibility and consequently poverty as the easiest way to live. Many Americans have a friend or a family member who have chosen that life style so most Americans know that redistribution of wealth to that culture is just ordinary dissipation of wealth. You do not find any among the culture of poverty that accept responsibility for their situation because that would mean they were not ignorant, lazy, or irresponsible and hence they would not be poor. Obama has the same problem always blaming others for his own failures and always taking credit for what good happens in spite of him.

Approximately 3% of Americans are now unemployable other than for handyman jobs like cleaning brush and streets. Another 3% can find temporary jobs but only in prosperous times. Many of these are in training programs today which are a national scam because fewer than 10% trained to be truck drivers or nurses, etc in these Obama scam programs ever get work as a result of the government training programs. There are also about 8% of the American work force who are older and have given up on continuing previous careers and only work temporary jobs now for extra cash. Only about 2% of the 16% of the work force whose jobs Obama has destroyed are truly seeking their old careers. What is happening is an underground economy is growing now as it always does in socialist countries where the government is harassing the populations for wealth redistribution. When the government attacks and redistributes wealth, wealth disappears and poverty flourishes. Socialist wealth redistribution is economic cannibalism and is actually wealth dissipation the same as giving the prodigal child a million dollars. They do not save or invest they spend it as fast and foolish because they do not know what to do with the money other than spend it.



Obama claims America failed. Some times he blames his Obama depression on Bush and sometimes he blames it on free enterprise. Obama, is a poor person when it comes to his thinking. He cannot take responsibility for his incompetent administration any more than a derelict can take responsibility for his life. All Obama can do is blame others and dissipate American’s prosperity.



The truth is that corrupt socialists like Obama tried to redistribute wealth with liar loans to people of no means and the socialists like Obama announced a “depression” to cause the liar loan bank crisis to get elected. Then the Obama cronies created “Corrupt Green” scams that took taxpayer money and then declared bankruptcy. Obama has run the biggest wealth dissipation scam in the history of human civilization borrowing and spending more money and accomplishing less that anyone before him. Obama’s redistribution is just ordinary dissipation like what happens when incompetent ne’er-do-well children inherit wealth from competent parents. The incompetent children dissipate the wealth because they lack the ability to invest and grow wealth. If you give wealth to people who are indigents they spend it as fast as they can because wealth is a responsibility and a burden to people who are afraid to save and invest. They chose to spend it all before someone takes their wealth in a scam.



The latest Rasmussen Poll 4-26-2012 reports that Romney is holding his lead over Obama. In a hypothetical Election 2012 matchup, presumptive Republican nominee Mitt Romney earns 48% of the vote, while President Obama attracts support from 45%. http://www.rasmussenreports.com/public_content/politics/obama_administration/daily_presidential_tracking_poll





World market this week

Standard & Poor’s cut Spain’s sovereign debt rating two levels to BBB+ yesterday from A. Italy’s short term borrowing costs jumped 58% (1.772, up from 1.119 percent interest) at the sale of 8.5 billion euros ($11.3 billion) of six-month bills as renewed concern about the spread of the region’s debt crisis forced the Treasury to offer higher rates to attract investors.



The Dutch government struck an emergency budget deal with the opposition to meet European Union rules, ending the impasse that threatened Netherlands’ loss of its top credit rating.



Hollande Says Germany Can’t Make Europe’s Decisions Alone.



Approximately 63% of Chinese companies that have reported 1st quarter earnings so far, have reported declining profits or losses due to slowing economic growth. In America it is roughly the same but earnings estimates have been dropped so much that about 60% of American companies are exceeding the lowered expectations.



Renewable Energy Corp ASA, Europe’s second-largest polysilicon producer, is closing its second factory in five weeks. These industries cannot turn a profit with current technology. They require a 90% production cost reduction before green energy will be successful. Ninety three percent of current systems require major repairs within ten years and get no subsidies for the repairs. People then just have the systems ripped out. This false hope has been subsidized on and off since Jimmy Carter in the 1970’s. Only the young and poorly educated do not know what a big scam Obama’s green corruption and dissipation policies are.



The deepening recession reduced dry bulk trade by 80% causing Germany’s Container Flotten- Fonds to file for bankruptcy. More than 1,000 investors who had been promised annual returns of as much as 15 percent instead lost.



Britain’s budget deficit unexpectedly widened in March, intensifying pressure on Chancellor of the Exchequer George Osborne to keep squeezing spending.



Euro-area services and manufacturing output declined for the third month in a row to a five-month low as the economy struggled to rebound from the sharp fourth-quarter contraction.



Manufacturing shrank in both Europe and China. The Euro weakened and the cost of insuring the region’s debt rose after the Dutch government has fallen to socialists and French President Nicolas Sarkozy lost ground to socialists in elections.



Italy’s confidence index declined to 89 from 96.3 in March hitting the lowest level since the series began in 1996.



China continues to threaten an invasion of unoccupied Philippine islands. N. Korea is threatening to attack S Korean targets and incinerate them for not properly worshiping N. Korean leaders.



Most national stock markets are on one, five and twelve-year head-and-shoulders sell areas. Germany’s market is losing steam. To see the megatrend look back to 1995.

http://finance.yahoo.com/echarts?s=%5EGDAXI+Interactive#symbol=^gdaxi;range=my;compare=;indicator=ema(200,100)+volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined;



The Swiss are still lower than last year’s high with a mega-trend decline. Choose max years http://finance.yahoo.com/echarts?s=%5ESSMI+Interactive#symbol=^ssmi;range=my;compare=;indicator=ema(200,100)+volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined;



China has been declining for more than a year now. Chinese inflation data disappointed, with March consumer price index rising 3.6%. If the economic output grew 8% and inflation grew 3.6% that means real growth in China has declined to 4.4%.

http://finance.yahoo.com/echarts?s=000001.SS+Interactive#symbol=000001.ss;range=my;compare=;indicator=ema(100,200)+volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined;



Emerging markets are still lower than last year’s high and look like a head and shoulder sell signal.

http://finance.yahoo.com/echarts?s=%5EMERV+Interactive#symbol=^merv;range=2y;compare=;indicator=ema(100,200)+volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined;



American Economy

Ford Motor Co said first-quarter profit fell 45 percent as losses in overseas operations ate into earnings in North America.



Case-Shiller 20-city Index Feb down –3.5% vs down -3.8% last month correcting for 0.2% manipulation potential.

Consumer Confidence Apr 69.2 down from 70.2

New Home Sales Mar 328K down from 353K

FHFA Housing Price Index Feb down -0.2% because it borrowed 0.5% from last month to shift after the last announcement to this month. Again it is inconsistent month to month Obama manipulation.

MBA Mortgage Index 04/21 -3.8% down sharply from 6.9%

Durable Orders Mar -4.2% fell sharply from 2.4%

Durable Goods -ex Transportation Mar -1.1% fell sharply from 1.8%

Crude Inventories 04/21 3.978M not improved from 3.856M

FOMC Rate Decision Apr 0.25%, no change



Yesterday

Initial Claims 04/21 391K up from the original 386Klast week Obama manipulation removed.

Apr 26 8:30 AM Continuing Claims 04/14 3315K up from 3297K

Apr 26 10:00 AM Pending Home Sales Mar 4.1% seasonal increase from -0.5%



Today

Apr 27 8:30 AM GDP-Adv. Q1

Apr 27 8:30 AM Chain Deflator-Adv. Q1

Apr 27 8:30 AM Employment Cost Index Q1

Apr 27 9:55 AM Michigan Sentiment - Final



Market outlook April 27, 2012

The markets are increasingly erratic. The VIX is now beingmanipulated as are economic reports.

The markets are nowhere near last rear’s high. Volume increased on the declines indicating net selling (no accumulation going on). The small investor has been taking profits. This market is now made by machines not by humans. The machines are trying to make money speculating on human behavior that no longer affects the market in the short run.



Still no DOW rails actually fell 1.1% yesterday while industrial stocks rose. No DOW confirmation means there still is no DOW buy signal since the collapse in August of 2011. It is looking like a head and shoulder sell signal forming in the Rails. We are a few days away from a complete breakdown of the market.

http://finance.yahoo.com/echarts?s=%5EDJT+Interactive#chart1:symbol=^djt;range=2y;indicator=ema(200,100)+volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined



On a quarterly cycle basis (look at 6 months), the New York Stock exchange second neckline was confirmed being broken on the down side. If a new high is not reached within a month the second shoulder of the head-and-shoulder sell signal will be set. Breakdown will occur rapidly if the lower neckline is then broken.

On an annual cycle basis (look at 2009 to today) it appears the head and shoulders is already in place and the market is about to break down for that mini cycle. On an economic business cycle basis (up to 20 + years) it shows the economy peaked in early 2000 and began to decline during the Clinton administration. Only if we can get rid of the “big government moron Obama socialists” this year… will we begin another 20year free enterprise booming business cycle.

http://finance.yahoo.com/echarts?s=%5ENYA+Interactive#symbol=^nya;range=2y;compare=;indicator=ema(200,100)+volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=off;source=undefined;



The VIX is loosing its predictive power as market manipulators learn how to manipulate it lower. 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=



Baltic Dry Index is still languishing..

http://www.bloomberg.com/quote/BDIY:IND/chart



Stock market update:

Asian Stock markets were down last night. China down -0.4%, Hong Kong down -0.3%, India flat 0%, Taiwan down –0.5%, and Japan down –0.4%.



European markets are mixed today in a range of 1% to -1.4% half way through their day.



American market futures are up about 0.1% in after hour trading at 7:30 AM EST.



We warned early last week that Apple earnings took a step change in the latest quarter and it is not a trend change improvement. They have compared this new product introduction quarter to a normal quarter last year not the new product introduction quarter last year. The earnings this new product quarter were less that the best quarter last year. Apple profits peaked last year! They are already in decline when you compare apples to apples!