That is so when income taxes rise there will be no income to report to corrupt socialists but still enough cash for good Americans to live on. If Obama defaults and throws the world into his Great Depression the socialist regimes around the world will fall and there could be chaos. Voter fraud won’t matter any more because there will be no Obama-Holden government to run the fraud. Obama caters to the viscous and idle, the Black Panthers, the ACORN thugs, the Al Quada terrorists that Obama wants to release from prison, FALN, the violent Puerto Rican terrorist group that murdered Wells Fargo employees an bombed other Americans that Eric Holder let loose in 2009.
Who are Obama’s “greedy”? Obama says you are greedy if:
if you go out and work hard and buy your food without food stamps,
if you buy a home without a liar loan and instead of living in subsidized housing, and
if you work hard and study hard and pay off your student loans instead of getting government scholarship for your race not your ability.
Obama thinks it is ok to default and then refuse to release your grades because it shows you are even dumber than Joe Biden and Al gore.
You are defined as one of the people the socialists think are greedy if you will not voluntarily support the viscous and idle who win elections by being bussed to forty different poll locations and voting in the name of people who do not exist but can be registered because there is Obama-Holden voter registration fraud.
The real greedy people are the lazy Obama-Holden people, the viscous and idle thugs who think money grows on trees and you are their money tree. In the past they did not bother to vote. But in Obama’s new America and in Putin’s old Russia they each vote at least 40 times a day.
http://www.youtube.com/watch?v=TkZrMpv0Pss
http://www.youtube.com/watch?v=wefETlCp644
http://hotair.com/greenroom/archives/2012/04/10/doj-dismisses-okeefe-holder-ballot-video-as-manufactured-voter-fraud/
The American Constitution was the first in the world to protect the rights of individuals, minorities, and states by limiting the power of the federal government. It was well understood from earlier democracies that in a democracy of three persons, two persons could create and pass laws to legally expropriate and redistribute the wealth or labor of any third person. Thomas Jefferson to P. Dupont in 1816 wrote; "The majority oppressing an individual, is guilty of a crime, abuses its strength, and by acting on the law of the strongest breaks up the foundation of society."
James Madison in the Federalist Papers, Feb 5, 1788 wrote to 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."
In 1824 Thomas Jefferson the founder the Democratic Party also wrote (note in Tracy's Political Economy, 1816), “To take from one, because it is thought that his own industry and that of his fathers has acquired too much, in order to spare to others, who, or whose fathers have not exercised equal industry and skill, is to violate arbitrarily the first principle of association, the guarantee to every one of a free exercise of his industry, and the fruits acquired by it."
What we are seeing in the world today is Atlas is shrugging again. John Gault has spoken and Atlas is getting into assets and cash because when credit collapses the store shelves could be bare as it happened in the USSR, Eastern Europe, China and all Communist countries as recently as 1989-2000. N Korea was the last and they starved about 3 million people.
http://hotair.com/greenroom/archives/2012/04/10/doj-dismisses-okeefe-holder-ballot-video-as-manufactured-voter-fraud/
The victory of the French Socialists and virtual wipe-out of mainstream parties in Greece sent shock waves on Sunday night crashing throughout the continent of Europe. This will mean the end of Greece in the EU and a further de-stabilization of Christian Socialist Europe.
Mrs. Merkel's governing coalition suffered at the ballot box yesterday appearing to lose its ruling majority in the state of Schleswig-Holstein. We expect the market will go into free fall and hit a new low lower than in 2011 and possibly back to the Bill Clinton Dot Com collapse that started in 2000 and was topped of with 911.
The Rasmussen Reports daily Presidential Tracking Poll for Sunday shows Mitt Romney earning 47% of the vote and President Obama attracting 46% support. Three percent (3%) would vote for a third party candidate, while four percent (4%) are undecided.
http://www.rasmussenreports.com/public_content/politics/obama_administration/daily_presidential_tracking_poll
World market this week
Stocks tumbled Friday, extending the biggest weekly loss of the year for global equities, after U.S. employers added fewer jobs than forecast and services and manufacturing output in the euro region shrank more than estimated.
Emerging-market stocks fell, almost erasing a weekly gain, as data showed slowing services industries in the euro region and the U.S., and the rupee slid to the lowest level since December.
European socialist governments will soon begin to fall apart and default. Markets will plunge, Gold and Silver possession will be equated with greed and will be declared illegal to possess and will all be confiscated. It is entirely possible that there will be military coups to maintain order.
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
Standard & Poor’s 500 Index fell to its worst week in 2012. Reports showed U.S. business activity expanded at the slowest pace since November 2009, adding to evidence that manufacturing is cooling. The confirmation Wednesday that factory orders in the USA have dropped 1.5%, at an -18% in annual rate.
The Past Week
Personal Income Mar 0.4% up from 0.2%
Personal Spending Mar 0.3% down from 0.8%
PCE Prices - Core Mar 0.2% up from 0.1%
Chicago PMI Apr 56.2 significantly down from 62.2
ISM Index Apr 54.8 up from 53.4
The Construction Spending number for Mar was manipulated. They took an extra –0.3% in February so that they could hide the fact that March was –0.2% not +0.1% as Obama had them report. Obama’s economic report lied again. March construction spending was down –0.2% but Obama manipulated the numbers and reported it improved 0.1%. For details look at this site.
http://biz.yahoo.com/c/e.html
Auto Sales Apr down for Chrysler and Ford, up for Obama-motors.
MBA Mortgage Index 04/28 0.1% improved from -3.8% due to seasonal selling
ADP Employment Change Apr 119K plummeted from 209K Very bad
Factory Orders Mar -1.5% collapsed from 1.3% even with 0.2% manipulation
Crude Inventories 04/28 2.840M shrunk from 3.978M –not good
Challenger Job Cuts Apr 11.2% up significantly from -8.8% last month. From the same month a year ago, job cuts were up 11.2 percent and so far this year the number of job cuts has increased by 9.8 percent to 183,653.
Initial Claims 04/28 369K vs 388K, still way too high. on consistent basis
Continuing Claims 04/21 3290K vs 3315K on consistent basis
Productivity-Prel Q1 -0.5% down sharply from 0.9%
Unit Labor Costs Q1 2.0% sharp increase again vs 2.8%last month’s increase
ISM Services Apr 53.5 sharp 5% drop in services from 56.0
Friday
Nonfarm Payrolls Apr 115K down from 120K
Nonfarm Private Payrolls Apr 130K up from 121K
Unemployment Rate Apr 8.1% down from 8.2%
Hourly Earnings Apr 0.0% stagnating 0.2%
Average Workweek Apr 34.5 constant at 34.5
Today
May 7 3:00 PM Consumer Credit Mar
This Week
May 9 7:00 AM MBA Mortgage Index 05/05
May 9 10:00 AM Wholesale Inventories Mar
May 9 10:30 AM Crude Inventories 05/05
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 7, 2012
We have been predicting this recent rally would be the last of this cycle. Most people were expecting one or two more rallies. John Gault has been sitting on a pile of cash preparing for this time when suddenly the world’s income falls close to zero because taxes have become extortion by governments 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. This could be a time like when JP Morgan sat on his pile of cash and then bought at the low in 1895 and became the richest man in the world. He was a great philanthropist and his money was put into trusts to help hard working, hard studying people build a better world free of the petty greed of Obama-Holden socialists and their viscous and idle… ACORN, Black Panthers, terrorists…all the friends of the Obama-Holden Administration.
The markets fell back from the upper resistance areas. As expected Friday activity increased and markets declined. Since the VIX is low and indicating complacency we anticipate the stock market will drop until investors show caution.
The DOW Rails fell 1% failing to match its previous weekly high yesterday and now is nowhere even near giving hope of a Dow Industrials buy confirmation. No 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 being broken on the down side. 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. 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 begin to 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. Obama is not fit to lead the world out of the Obama depression that he in his ignorance declared during his first campaign to frighten people into considering a pro-Marxist president who has delusions of grandeur. Look at 5 years to see where we were and where the Obama-Holden Administration has taken the world. We once had good presidents that inspired good Americans, not just the viscous and idle.
http://www.bloomberg.com/quote/BDIY:IND/chart
Stock market update:
Asian markets were down sharply last night. China closed, Hong Kong down –2.6%, Ozone India up 0.5%, S Korea –1.6%. Taiwan –2.1%, NewZeland –2.2%, Japan –2.8%.
European markets were down half way through their day, in a range of +0.1% for France to –7.2% for Athens
American market futures are down about –0.43, -0.4% and –0.43 in after hour trading at 8AM EST… clearly being manipulated at this point by all the exchanges.
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