The new-Republican House votes to cut food stamps to avoid defense reduction but the Obama Senate thinks food stamps will buy them the votes they need to stay in power.

The only hope for world free enterprise now is to vote the entire socialist establishment out in November and cut federal salaries and pensions as much as it takes to get spending back under control.

The Road to Serfdom (airs tonight at 9PM on FBN)

AGENDA: Grinding America Down, see

http://agendadocumentary.com/trailer/


John Gault has been sitting on a pile of cash because he sees no point in working and creating jobs so that the Obama socialists can just confiscate his earnings with higher taxes. 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 his shop and moves out of the USA to his safe haven.

Yet, Oboma can’t understand why GE (which is run by his chief economic advisor) pays no taxes and there are no jobs being created. It is because the real wealth creators can only avoid extortion by shutting down and staying in cash. Cash is king today because we use credit and there is very little cash in circulation. That is why no one who is smart buys gold any more. Cash is king because socialists ultimately confiscate gold from the rich and the banks when they nationalize everything if they are not thrown out of office or engaged in another world war. Socialism fails because the people pretend to work because the viscous and idle get everything at first and the government pretends they pay a middle class. Ultimately socialism leads to bare shelves in stores and abject poverty for all.

Remember the Nazi, Fascists, and international socialists (communists) are all just atheist variations on the original “Christian Socialism” which is the only “compassionate” socialism. Moron leftists still think socialism is compassionate. That is only true of Christian Socialism. Unfortunately for the compassionate but moronic liberals, 99% of the socialism in this world is atheistic, Moslem, Hindu, or Buddhist where individual lives and compassion have no place. And the compassionate “Christian Socialists” of Europe are going bankrupt now and the fascist and communist socialists are on the rise again in Europe.

ACORN, Black Panthers, Puerto Rican terrorists…all the friends of the socialist Obama-Holden Administration, are the examples of the petty greed of socialists and their viscous and idle following. They are why John Gault sold and took his cash and moved to a safe hideout. That is how the story ends. The economy collapses when the movers and shakers abandon the socialists. It would collapse anyway because if you help a socialist you end up with a new Hitler or a new Stalin and that means you likely end up dead anyway. Even when they win you still end up dead. The socialists get power and then become the killer socialists. They are beginning to get the votes in Greece and France now. It is better for John Gault to retire long before the national socialists or international socialists take power. At least that was John Galt’s theory. Once the socialist economy fails… all the government jobs are lost in one fell swoop and the movers and shakers re-enter and support the new free enterprise political leadership and it all starts over as it did in Germany, or slowly transitions as it has been recently in Russia and China.

Read just how ignorant, moronic, and insane socialists really can be when moronic liberals give them cradle to grave control of their lives. People who were deemed to have been the lazy elite, (in other words the educated and the skilled), were brutally murdered. Every vestige of the former free way of life had to be destroyed. Many people tried to conceal their identity or former occupation, but were eventually found out or betrayed. Whole families were executed. Babies were killed by smashing their skulls against trees. Hitler did the same with gas and bullets. Stalin and Mao used mainly bullets.

http://www.cambcomm.org.uk/holocaust.html

http://david.shortens.net/tag/north-korean-genocide/

http://www.hawaii.edu/powerkills/SOD.CHAP10.HTM


James Madison in the Federalist Papers, Feb 5, 1788 warned the Massachusetts Convention, "but as a just government protects all alike, it is necessary that the sober and industrious part of the community should be defended from the rapacity and violence of the vicious and idle. A bill of rights, therefore, ought to set forth the purposes for which the compact is made, and serves to secure the minority against the usurpation and tyranny of the majority."

The American Bill of Rights gives Americans the right to have guns, not just to hunt. Jefferson said, “The strongest reason for the people to retain the right to keep and bear arms is, as a last resort, to protect themselves against tyranny in government”. That is correct, our Founding Fathers protected the rights of all Americans to bear arms against any socialist dictator who tries to take away our Constitutional Rights and impose their version of socialist tyranny.

We need to get Obama and his entire 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 Thursday shows Mitt Romney earning 49% of the vote and President Obama attracting 45% support. Three percent (3%) would vote for a third party candidate, while another two percent (2%) 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

World markets plummet as investors get out before the weekend analysis of the damages. Hedge funds, which had pushed the markets higher on recent Fridays, are returning to the shot side to be safe.

Investors are concerned and anticipating Greek exit from the euro region will roil markets anew. This comes on top of JP Morgan complicating a trade by hedging a risk with equally bad risks. Japan and other countries promise to provide liquidity for what could be a day when investors begin shorting the market.

Emerging-market stocks headed for the biggest weekly loss since November as disappointing Chinese and Indian production data and a $2 billion trading loss at JPMorgan Chase & Co. spurred concern that global growth will falter. There is a high risk that Obama will attack with his new Volker rule.

Danske’s Realkredit Danmark A/S, in the Denmark has fired Moody’s, arguing the Moody’s assessments are based too much on truthful models not socialist hype. Jyske Bank A/S (JYSK), Denmark’s second-biggest listed lender, said last month it’s reviewing its relations with Moody’s as fear of Moody downgrades grows among the socialist country’s lenders. This only fuels the concern that incompetence pervades the increasingly socialist world banking system to its very core. To socialists data is not for management use but for feel-good propaganda use.

UBS is still dealing with the fallout from unauthorized trades by London-based UBS employee Kweku Adoboli, which the bank said led to a $2.3 billion loss.

Recently Ramon Braga, a trader on the corporate-credit desk, colluded in the alteration of “marked-to-market” valuations of assets by Denis Minayev who “re-marked ” Braga’s trading book on 66 occasions to falsify market values to hide speculation losses,

Spain and Italy have re-entered their recession’s joining the UK and Greece, which are slumping deeper. The net Euro economy to Shrink with Greece GDP likely shrinking 4.7 percent, while the economies of Spain and Italy are seen falling 1.8 percent and 1.4 percent, respectively. The lights go out in Spain as cuts plunge highways into darkness

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.

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

Today Sy Harding discovered what we have been saying for months now. Most of the world markets look like head and shoulder bear markets. We are waiting only for the final shoe to fall when the second neckline of the like head and shoulder is broken.
http://www.streetsmartpost.com/


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:



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.

Yesterday there was extensive data manipulation by shifting bad news backwards after reporting it. These are the potential maximum levels of mis-reporting by Dumbama.



Initial Claims 05/05 367K down from 368K 365K reported

Initial Claims 05/05 370K up from 365K likely got worse



Continuing Claims 04/28 3229K down from 3290K reported

Continuing Claims 04/28 3243K down from 3276K likely improved less



Trade Balance Mar -$51.8B worsened from -$45.4B

Export Prices ex-erg. Apr 0.2% down from 0.5% deflation

Import Prices ex-oil Apr 0.1% down from 0.5% deflation

Treasury Budget Apr $59.1B increased from -$40.4B due to April tax collection.



This Week

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 11, 2012

Markets have been tumbling over night. Banking speculation and fraud contagion remains a fear as banks fire Moody’s because they do not want the world to know just how badly they have misappropriated investor wealth with their continuing Ponzi derivative schemes.

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 a Dumbama 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 Dumbama-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:

Markets are tumbling today.

Asian markets were down sharply last night. China down –0.6%, Hong Kong down –1.3%, India down –0.8%, S. Korea down –1.4%, Japan down –0.6%.

European markets were down half way through their day in a range of +0.4% to-1.1%

American market futures are down about -0.4% in after hour trading at 8:30 AM EST