We expect good stock market news from the Supreme Court this month. We expect the American Supreme court will reject nationalized medicine as the EU has continued to rejected it for the EU. Proletariat “genius” Obama lies or is just stupid whenever he says Europe has nationalized medicine. Britain, France, and Germany etc all have their own systems just as California, Massachusetts, and New York have their own systems. Likewise Genius Obama lies or is just stupid when he says Europe has a national educational system. The states of the EU can’t even agree on one language much less one European history. Of course the elite liberal proletariat like “Genius Obama” are too stupid to know any facts about the real world of socialism like Hitler, Stalin, Pol Pot, Mao, Castro, Chavez, and the other “liberal geniuses” that have preceded Obama.

This blog will resume in less than two weeks. A rally is due at this point especially for the emerging markets that have been depressed for almost a year.  

The liberal media does not want to admit that the stagnation of America is Obama's doing.  You cannot throw money at freeloaders or to corrupt green-energy sycophants and expect their spending spree to bring America prosperity.  Yet that is just what the "genius" Obama thinks.  No, it will take spending cuts to freeloaders and sycophants and unionized government workers and teachers to get a good economy and a good educational system.  Lately the teacher unions are showing TV adds that compare the USA's low education scores compared with Finland ranked #1.  They imply that if we pay them more we can give American children a better education.  Yet the "genius" Obama is allowing states to withdraw from "No Children Left Behind" claiming school test scores are meaningless.  This shows just what morons we have running the government and schools because they think test scores are good for saying how bad America is but are no good for showing just how bad the unionized teachers stink when it comes to teaching.

The all knowing "genius" Obama-Holder regime sued Maricopa County, the sheriff’s office and sheriff Arpaio on May 10, accusing them of intentionally and systematically arresting illegal immigrants and drug dealers from Mexico. Since Mexicans are Latino’s, arresting Mexican drug dealers and illegal immigrants (according to proletariat geniuses like Obama and Holder) is overt discrimination against Latinos, who Obama and Holder claim are frequently stopped, detained and arrested unfairly for minor offenses like human smuggling, murder, and other Mexican drug cartel behaviors. The Obama-Holder regime said the sheriff’s office also discriminates against Latino prisoners and the sheriff unfairly defends himself from the proletariat genius liberal critics who support and want to re-elect the Obama-Holder regime. Obama-Holder object to the sheriff speaking back and thus daring to defend himself from Obama and Holder who are only exercise the right of the proletariat to dictate to Arizona’s government instead of defending the US border. The defense attorneys for the sheriff’s office said the Obama-Holder suit should be dismissed because the proletariat "genius" Obama-Holder regime bases it on, “anecdotal allegations rather than facts or statistics,” The proletariat genius Obama-Holder regime is unwilling to interfere with the Mexican drug cartel. In fact he Obama-Holder regime is being investigated now by Congress for supplying guns to the drug war lords, using the CIA to train them, and causing the wrongful death of a US Border guard. Sheriff Arpaio, who has been elected five times and has served 20 years in office, said President Barack Obama was going after him to buy the votes of illegal immigrants using the money of American taxpayers in an abuse of presidential power. Proletariat genius Obama claims the Constitution is outdated and he is only using executive power. 

Obama's uncle is an illegal immigrant in Boston and has been arrested twice for drunken driving yet illegal immigrants are not permitted by law to get an American driving license.  Isn't that illegal too?  Was his uncle's license another important Obama executive order?

Oil prices fell last week, heading for the longest run of weekly losses in more than 13 years, on speculation the economies of the U.S. and China (the world’s biggest crude consumers), will slow and curb fuel demand. But Forbes sees tremendous buying again in “UCO.”  And China is showing renewed growth.  Oil prices may have just bottomed and are ready to rise again.

We could now have a potential short but powerful stock market rally if it looks like the socialist proletariat geniuses will be defeated in America this November. If proletariat genius Obama is re-elected capitalists around the world will take their money and retire in droves and the world will come closer to complete collapse. But we are optimistic, especially for Asia and other emerging markets. There, capitalism is actually growing and we may see capitalism moving in their direction. The Red Chinese are beginning to understand capitalism and have suffered 4000 years of socialist/fascist stagnation. The capitalists in India are growing and of course Singapore and Hong Kong are the eastern capitals of capitalism. That is an area of the world that offers new hope.


World market this week
China cut their discount rate by 0.25%. U.K. factory-output prices unexpectedly fell in May as petroleum products dropped the most since the depths of the financial crisis in 2009. Emerging markets may have finally bottomed for the time being as long as Obama is ejected in November. Survival of American liberty, private ownership, and the right to keep the fruits of one’s labor (free enterprise) of capitalism is essential to the survival of the world economy and hence world peace.

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. Last Monday even Donald Trump brought it up on Squawk Box. We pointed out the Obama manipulation of American economic data months before anyone else. Can Americans still believe anything Obama says?

Last week

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.

Initial Claims 06/02 383K same as last week when adjusted for Obama 6K manipulation.

Continuing Claims 05/26 3293K up 51Kfrom last week’s 3242K very bad

Jun 7 3:00 PM Consumer Credit Apr 6.5B down sharply from prior $21.4B –very bad

Trade Balance Apr -$50.1B was slightly less negative from -$51.8B

Wholesale Inventories Apr 0.6% up from 0.3% - Bad

This Week we will not be updating the economic factors.



Market outlook June 11, 2012
We expect good stock market news from the Supreme Court this month. We expect the American Supreme Court will reject nationalized medicine as the EU has continued to reject it for the EU. Genius Obama lies or is just stupid whenever he says Europe has nationalized medicine. Britain, France, Germany, Italy, and Spain etc all have their own systems just as California, Massachusetts, and New York have their own systems.  Likewise "Genius" Obama lies or is just stupid when he says Europe has a national educational system.  The states of the EU can’t even agree on one language. Of course the elite liberal proletariat like “Genius Obama” are too stupid to know any facts about the real world of socialism like Hitler, Stalin, Pol Pot, Mao, Castro, Chavez, and the other “liberal geniuses” that have preceded Obama.

The market is 10% above the next lower resistance level and may not break through it if “genius” Obama continues to fall in the polls. The Walker victory in Wisconsin has given the world hope that Obama will be a one-term president. But if Obama gains in the polls, money will flee America again. Right now the market can recover if Obama fades from view. But it is more likely this rally will collapse in July or August and be a cliffhanger until November.

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 Theory Industrials and Rails sell signal of August 2, 2011 still holds. We expect the “Walker Rally” to run out of steam if Romney does not open up his lead. However the Walker rally could last a month just as it is with some good news from the EU.

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;

Obama is such an incompetent boob; a deep depression can only be prevented if this “proletariat genius” is not 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

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 may have just hit bottom. The emerging markets may now advance if it rebounds.

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


Stock market update:
Asian markets were down last night. China up 1.1%, Hong Kong up 2.5%%, Singapore up 1.8%, Taiwan up 1.7%, Japan up 2%.

European markets were up half way through their day in a range of 0.6% to 1.6%

American market futures are up about 0.6% in after hour trading at 8 AM EST.