American taxes have become legal extortion for socialists that use voter fraud so that the viscous and idle can get elected and rob the treasuries of Democratic Republics like the USA and our allies. So John Gault takes his money, closes shop and moves out of the USA to his safe haven.
We need to get Obama and his entire socialist following out of our American government. If we do not clean up America, there will be a WW III between the raging Nationalist and International Atheistic Socialists and a world-wide Holocaust of intelligent humans everywhere who do not fit the socialist cradle to grave care routine (which intelligent people recognize as the definition of universal slavery). And if America does not have its act together there will be no one left to rescue the world this time.
socialist cradle to grave care = universal slavery
The Rasmussen Reports daily Presidential Tracking Poll for Wednesday shows Mitt Romney earning 49% of the vote and President Obama attracting 44% support. Four percent (4%) would vote for a third party candidate, while another three percent (3%) are undecided. During Election 2008, Rasmussen Reports projected that Barack Obama would defeat John McCain by a 52% to 46% margin. Obama was 53% to 46%. In 2004, Rasmussen Reports was the only firm to project the vote totals for both candidates within half a percentage point
.http://www.rasmussenreports.com/public_content/politics/obama_administration/daily_presidential_tracking_poll
World market this week
Moody’s Investors Service will this month start cutting the credit ratings of more than 100 banks. BNP Paribas SA, France’s largest lender, Deutsche Bank AG, Germany’s largest, and New York-based Morgan Stanley face having their short- and long-term debt downgraded to their lowest-ever levels by February. The cuts, which follow downgrades by Standard & Poor’s and Fitch Ratings last year, would erode profits, trigger margin calls and leave some firms unable to borrow from money- market funds that have strict rules on who they can lend to. Without access to funding from private sources, banks have had to sell assets and reduce lending Greek stock index hits near 20-year low Fascist (nationalist) socialism and Communist (international socialism) grows in France and Greece again as it did in Europe before the last two world wars. Today in Europe stocks fell, sending Europe’s benchmark gauge to the lowest level in four months, while the euro weakened and Spanish default risk climbed to a record as investors awaited resolution to Greece’s political impasse. U.S. stock-index futures and precious metals also declined.
The election in Greece has led to the rise of extreme nationalist and communist socialists and a completely dysfunctional government. They will try soon to elect an equal or worse dysfunctional government, as it is a clever way to blame Angela Merkel for the failure of Christian Socialism (the only socialism in the world besides the ELCA) that claims it tries to be compassionate.
“Greece has got some strong cards to persuade them to go easy on austerity,” said John Whittaker, an economist at Lancaster University Management School in England. Everyone fears a Greek departure from the euro because they’ll lose money and lose political capital because the world will see that compassionate Christian Socialism is no more viable than Nationalist Socialism, International Socialism, or Napoleonic Slavery. Napoleonic National Socialism introduced slavery in France to rebuild many of the Roman landmarks such as ruined aqueducts and coliseums in France.
Bombardier Inc, the world’s third- biggest maker of commercial jets, said first-quarter sales declined 25 percent and profit fell 16 percent as the company delivered fewer aircraft.
Sony Corp is cutting 10,000 jobs after four straight years of losses, forecast a profit that was less than half of what analysts estimated.
Norway’s sovereign wealth fund sold all its Irish and Portuguese government bonds and reduced debt holdings in Italy and Spain amid a broader strategy to cut investments in Europe. They warned that Europe faces considerable challenges.
China has declined for more than a year now and may be seeking a bottom. 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 the head and shoulder sell signal is getting worse.
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
Goldman Sachs, the fifth-biggest U.S. bank by assets, reported last month that revenue from trading stocks, bonds and other securities dropped 14 percent in the first quarter from a year earlier. That followed a 21 percent decline in trading revenue for 2011, the worst performance since 2008.
There are three risks to worry about: the upcoming "fiscal cliff" at year-end 2012 and a worsening of the eurozone debt crisis. “Operation Twist” currently ends in June, Bush-era tax cuts are set to expire, automatic spending cuts are set to be triggered and the aforementioned stimulus programs are winding down. Cuts to stimulus alone, even with an extension of tax cuts, will be a drag on the US economy in the short term. On Europe:
The Obama Regime will have created $6 Trillion new debt in its four years or $1.5 Trillion debt per year. The highest deficit of the George W Bush presidency was $half-a-trillion or one third the Dumboma debt rate and President Bush handled the Bill Clinton Dot Com bubble crash, the 911 attack and two big spending Congresses controlled by the Democrat-socialists.
Obama’s tax rebate for his voting welfare constituency is so corrupt there are actually thousands of identity thefts even of “dead people” getting income tax money back from Obama. This is money back for Obama supporters who paid no income taxes at all. That cash flow was already baked into the USA economy in the first quarter. Now the world’s real economic crunch is starting. We need to get Obama out of office or we are headed for the “Dumbama Depression.”
Yesterday
MBA Mortgage Index 05/05 1.7% improved from 0.1% due to seasonal effects
Wholesale Inventories Mar 0.3% down from 0.9% not as bad a build up
Crude Inventories 05/05 3.652M increased from 2.840M as commodities fall.
This Week
May 10 8:30 AM Initial Claims 05/05
May 10 8:30 AM Continuing Claims 04/28
May 10 8:30 AM Trade Balance Mar
May 10 8:30 AM Export Prices ex-ag. Apr
May 10 8:30 AM Import Prices ex-oil Apr
May 10 2:00 PM Treasury Budget Apr
May 11 8:30 AM PPI Apr
May 11 8:30 AM Core PPI Apr
May 11 9:55 AM Mich Sentiment May
Market outlook May 10, 2012
The world flight to American stocks is almost over as American stocks have been made vulnerable by Obama spending on his growing unemployable voting block. Instead of welfare, the unemployable should be required to attend reading, language lessons, character lessons, and math classes in order to receive their welfare checks.
This shift from US Treasuries to American Stocks probably is why we are not already at a new stock market low. This has been the entire stock market support since the fall of 2011. Cramer wonders when it will start to kick in, but in reality just over. Once the stock market drops 10%, bond investors will realize they made a bad move into the US stock market. They may decide to join John Galt too.
No Dow Rails confirmation means there is no DOW buy signal since the collapse in August of 2011. It is still looking like a head and shoulder Dow sell signal forming not a buy signal.
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 having broken below the first neckline and now the second neckline is being tested. Usually the market plunges when the second neckline is also 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. For an Obama Great Depression to be declared the market would need to drop another 20% from this current level. That could happen if the Dumbama Regime is re-elected.
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;
We expect the VIX to soar and be above 40 in a few weeks as markets crash in some countries. A sharp computer sell-off could now trigger huge stop-losses and a plunge below the lows of 2000. The Obama-Holden regime will get even uglier.
http://finance.yahoo.com/q/bc?s=%5EVIX&t=2y&l=on&z=m&q=l&c=
Baltic Dry Index has just peaked this past month at only at 10% of its 2008 high. http://www.bloomberg.com/quote/BDIY:IND/chart
Stock market update:
Asian markets were down slightly last night. China flat, Hong Kong down –0.5%, India down –0.3%, S. Korea down -0.3%, Japan down –0.4%.
European markets were up half way through their day in a range of +0.8% to-0.2%
American market futures are up about 0.4% in after hour trading at 8:30 AM EST
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