Atlas, in America, has begun to shrug and may renounce his American citizenship and retire somewhere where there is still freedom from socialists. Intelligent hard working people are no longer coming to America in significant numbers. Corrupt and lazy socialists are coming to America in droves now because they can dissipate American wealth. Until Americans throw out all the ruling socialist bums, things can only get worse in America.

Obama ignored D-Day World War II commemoration for the third year in a row.


Most new Obama jobs are parttime hamburger helpers, or corrupt green scams, and nothing to boast about.


Atlas just shrugged a little in California. Two California cities handily defeated an effort by fascist union thugs and socialist activists by voting down 60% to 40% their socialist pension theft of taxpayer wealth. The Union thieves immediately sued to try to bankrupt the communities which means the lawyer sharks and bottom feeders will get more but the unions will get even less.

Obama is leaking classified information to boost his image. Congress will begin an investigation of security leaks by Obama operatives. The post-Osama raid leaks compromised all the information the Navy Seals had risked their lives to obtain. Obama operatives warned the Al Quada command that their locations were known so that America’s enemy could change their hideouts. Obama operatives also leaked the sabotage of the Iranian nuclear program. Even Wikileaks was supported by Obama operatives to undermine American secrecy and to help socialist take power by discrediting America.

http://www.military.com/daily-news/2012/06/06/mccain-classified-leaks-done-to-boost-obama.html?ESRC=eb.nl

Homeownership hit a 15-yr. low in April of 2012 under Obama socialist fascism. The last time the rate hit 65.4 percent was in the first quarter of 1997 under Bill Clinton. The rate peaked at 69.2 percent in the fourth quarter of 2004 under George Bush. Obama will be known more for being an American disaster than for being an American president. 3.8% fewer people in America have homes since Obama and Barney Frank forced Liar Loans on the American real estate industry. And since Obama took office Obama Liar loans are still forced upon the RE industry. The Obama-Holder administration is rotten to the core.

http://www.businessweek.com/ap/2012-04/D9UFJ0O80.htm


World market this week
The crises in Spain eases. Spain sold its benchmark 10-year bond at 6.044 percent, the best since Nov. 17 when the yield in the secondary market reached a euro-era record 6.78 percent. Demand for the security was 3.29 times the amount sold. In the secondary market Spain’s 10- year bond yield fell .12 % to 5.679 percent.

China cut their discount rate by 0.25%. Rampant corruption in the governments in both Hong Kong and Macau is being investigated as developers are forced to bribe officials to overcome the socialist fraud and corruption. Socialist regulation exists solely to allow commissars to collect bribes the way Russia’s Putin has built up his fortune. Putin demanded $2million from Wall Mart to open a store. Regulations are the way corrupt governments supplement their personal incomes and have no social value. Free enterprise removes corruption by removing the reason commissars exist. Socialist regulation adds no value it necessary only for corruption..

The stock market in Greece is down 90% since early 2008. The prolonged crisis is worsening Greece’s chronic difficulties with legal tax avoidance that has helped wreak havoc on the socialist-fascist’s redistribution of wealth. John Gault is active and the wealth producers in Greece said enough is enough and Atlas has shrugging off the weight of socialist-fascist despotism. Obama is such a raging socialist fool because he does not realize that Atlas cannot be bound in chains. You cannot enslave Atlas. When you try, Atlas just shrugs his shoulders and walks away from the communist and socialist despots. The stock market in Greece continues to tumble as socialist fascists dismantle the country.

http://finance.yahoo.com/q/ta?s=GD.AT&t=5y&l=on&z=l&q=l&p=&a=&c=

German bonds weakened and Spanish government bonds rose for a sixth day. European policy makers are accelerating measures to guarantee deposits and dampen demand for the safest assets.

Socialist Hollande sold as much as 7.84 billion euros ($9.9 billion) in debt as austerity is set aside and France dissipates the gains made by the previous government. Nothing ever gets better under socialist dissipation.

Emerging markets may have bottomed for the time being..

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

Factory Orders Apr prior -0.6% which is bad and manipulated at least twice since last reported. We never realized that Obama’s minions change the data whenever he feels like it. Today even Donald Trump brought it up on Squawk Box. We pointed out the Obama manipulation of American economic data months before anyone else.

Obama reported ISM Services in May at 53.7 vs. 53.5 last month. It is virtually unchanged, but can Americans still believe anything Obama says?

Yesterday

MBA Mortgage Index 06/02 1.3% up from last months -1.3% - good

Productivity-Rev. Q1 -0.9% down from -0.5% - very bad

Unit Labor Costs-Rev Q1 up 1.3% after increasing 2.0% - bad

Crude Inventories 06/02 -0.111M vs. 2.213M makes no sense because it is usually the amount not the change that is reported.

Today

Jun 7 8:30 AM Initial Claims 06/02 - prior 383K -

Jun 7 8:30 AM Continuing Claims 05/26 prior 3242K -

Jun 7 3:00 PM Consumer Credit Apr prior $21.4B -

This Week

Jun 8 8:30 AM Trade Balance Apr prior -$51.8B -

Jun 8 10:00 AM Wholesale Inventories Apr prior 0.3%



Market outlook June 7, 2012

Yesterday we said the market is oversold and requires a Walker rally and it stated. The downside risk for the US stock markets is still about 15%. But since Scott Walker got a vote of confidence, it will be much harder for comrade Obama to survive in November and we could now be finally in a “throw the bum Obama out” stock market rally. The NYSE is told Americans that Obama is a National disaster and yesterday said it liked the Walker victory and the taxpayer rebellion in two California cities. This optimism may continue for a week or two more but we must remember that Obama has put half of America on some type of assistance to buy their votes. Atlas in America has begun to shrug and may renounce his American citizenship and retire somewhere where there is still freedom from socialists. Intelligent hard working people are no longer coming to America in significant numbers. Corrupt and lazy socialists are coming to America in droves now because they can dissipate American wealth. Until Americans throw out the ruling socialist bums, things can only get worse in America.

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


The DOW Industrial’s confirmed the Dow Rails sell signal a few weeks ago which means there was never a confirmed DOW buy signal since the decline began on August 2, of 2011. The Dow Theory Industrials and Rails sell signal of August 2, 2011 still holds. We expect the “Walker Rally” to run out of steam based on surveys showing that Romney has not opened up his lead.

http://finance.yahoo.com/echarts?s=%5EDJT+Interactive#symbol=^djt;range=5y;compare=^dji;indicator=;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined;

On a quarterly cycle basis (look at 6 months), on an annual cycle basis (look 2009 to today) and on an economic business cycle basis (up to 20 + years) it appears we have had head and shoulders sell signals. Another immediate 15% drop is likely to quickly occur if the Obama-Holder regime is re-elected. Recently the liberal’s data manipulators have now cut off stock market data below 2003 so you can no longer see Obama’s 20+ year business cycle collapse.

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 says the market volatility increases but has a long way to go up to 40 before the market begins to bottom. But it shows the Walker victory has raised market confidence.

http://finance.yahoo.com/q/bc?s=%5EVIX&t=2y&l=on&z=m&q=l&c=

Baltic Dry Index has collapse looks like a disaster for China in particular after first collapsing 90% since the Obama-Holder regime was elected and is now down 93%. This is saying world trade has collapsed under the Obama socialist contraction as productive Americans shrug off socialism and hope Obama socialism fails miserably or else Atlas will shrug and will move out of America where he has lived for over 230 years.

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

Stock market update:

Asian markets were up last night. China down –0.7%, Hong Kong up 0.9%, Singapore down -0.1%, Japan up 1.2%.

European markets were up half way through their day in a range of +0.3% to +2.1%

American market futures are up about 0.5% in after hour trading at 8 AM EST.