Does Obama-Soros socialism have any social redeeming value? After spending $100 million on negative ads in the last three months, President Barack Obama, George Soros and their allies haven’t been able to gain any traction in the states most likely to determine the general election. Obama ran more than 136,000 negative spots in his seven weakest states during the past 90 days, going so far as to attack small business entrepreneurs and to say that government spending not business investment are the reason for wealth and jobs and that is why the government has a right to take the wealth of American workers and redistribute it even for free cell phones just for the indigents on public assistance.

You probably qualify for a free phone if you participate in Medicaid, Food Stamps/SNAP, General Assistance, Supplemental Security Income (SSI), Temporary Assistance to Needy Families, Federal Public Housing Assistance, Home Energy Assistance Programs (HEAP, LIHEAP & E-HEAP), The National School Lunch Program’s Free Lunch Program, Supplemental Security Income (SSDI) or possibly some other public assistance programs. If you are not on a government assistance program that is Lifeline-approved for your state, you can still qualify if your household income is at our below 135-150% (may vary upon state) of the federal poverty level. You will get a free phone plus 250 minutes of free airtime each month with Obama’s  Assurance Wireless program at absolutely no cost. This is so children on welfare can have cell phones which they use in class when they should be trying to learn something.

http://www.govcellphones.com/
http://www.freegovernmentcellphones.net/free-cell-phone-providers/assurance-wireless

The economic recovery in the U.S. has stalled again this year as it did the previous two years. But this time corporate earnings, the driving force of the stock market, are also stalling. In fact corporate earnings are now in sharp decline, and corporate warnings are coming faster than seen since 2001. Add to this the year-end Obama mandated “fiscal cliff” in January would damage the GDP recovery by as much as –5%, Bernanke said. Obama demanded that budget cuts be put off until after the November 2012 election. Then Obama can blame his Obama Depression on Mitt Romney. But Obama’s deficit of $10 Trillion sets the world up for a bout of high inflation if not hyperinflation in half the European countries and much worse in the developing world. Precious metals will move upward again in value.

Check for yourself and see that insiders at Apple have been selling their stock as fast as they can for over a year because they know it is overpriced at half the current price. They have not been holding Apple stock long. They buy the options at 0 or very little and sell the stock as soon as they possibly can. They were dumping everything already back under $350 in March of 2011 just before the stock skyrocketed. They are still selling as fast as they can. Why would you buy a stock at a price that all the employees of Apple think is ridiculous? That is the power of MSNBC/Pravda and that is how they stay in business and keep their advertisers. All the companies that MSNBC pumps up… finance socialism and are Obama’s big campaign contributors. The advertisers on MSNBC are supporting socialism and totalitarianism. Check out the insiders soon because the socialists will eventually remove this information just as they no longer accurately report trading volume of stocks since 2003 because it allows us to accurately compute investor cash flows. The socialists run Government Motors the big banks now. That is the reason the Big Banks are corrupt and stink. Bank of America was a great free enterprise company until Obama hounded their last entrepreneur president out and installed a socialist friend of Obama.
http://finance.yahoo.com/q/it?s=AAPL+Insider+Transactions

Obama has raised capital gains taxes from 15% to 45% starting with reporting in April 2013. That will result in the selloff of stocks that have already gone down to take the losses to avoid a taxes tripling with Obama’s tax increase. In the past this kind of increase alone was enough to cause a bear market. If Obama is not ejected in November those rates go into effect.

Here is how creeping socialism makes the data lie. The seasonally adjusted SGS Alternate Unemployment Rate reflects current unemployment reporting methodology adjusted for SGS-estimated long-term discouraged workers, who were defined out of official existence in 1994. That estimate is added to the BLS estimate of U-6 unemployment, which includes short-term discouraged workers.
http://www.shadowstats.com/alternate_data/unemployment-charts
see also
http://video.foxbusiness.com/v/1748956928001/real-unemployment-numbers

It is time to sell Caterpillar shares of stock. CAT is gambling on strong demand for its construction and mining equipment in the USA despite knowledge that the global economy is going nowhere as long as it depends on $1Trillion of Obama deficit spending each year on trickle up job creation with food stamps, free cell phones, medicare free prescription marijuana, rent subsidies and yes, why shouldn’t poor people be allow to spend their welfare checks at casino’s and why should someone on welfare have to look for work? Obama’s constituent voters are getting bored with their plasma TVs and cable TV.

Ford Motor Co. second-quarter earnings fell by more than 50% because of losses in Europe and other regions of the world.

Texas Instruments saw second-quarter profit fall 34% to $446 million, or 38 cents a share, down from last year’s profit $672 million, or 45 cents a share, as revenue slipped to $3.34 billion, down from year-ago sales of $3.46 billion.

Obama has the home building industry down -66% from the normal level before he took office. It was worse for a while when it was down –78% under Obama. Obama has continued the liar loans and is still suing banks that do not give liar loans.

The Rasmussen Reports daily Presidential Tracking Poll shows Mitt Romney stuck in a dead heat with Obama. http://www.rasmussenreports.com/public_content/politics/obama_administration/daily_presidential_tracking_poll


World market this week
Chinese cities begin to take on enormous debt. Changsha, the capital of Hunan province, a failing regional government, will spend 829.2 billion yuan ($130 billion) on 195 projects, which include an airport and subway lines. It sounds like the other 193 projects involve government waste and corruption and can not be reported. Shen Jianguang, Hong Kong-based chief Asia economist for Mizuho Securities Asia Ltd., said in a note today. “With the central government’s tight controls on local government lending previously, there has been widespread panic among local governments in regard to the recent downturn.”

Sands China Ltd., the Hong Kong listed Las Vegas company, fell to the lowest level in seven months after it reported a 40 percent drop in second-quarter profit.

Thailand’s central bank signaled the economy is caught in a global slowdown as it lowered the country’s growth and inflation forecasts.

Telefonica SA fell the most in more than two years after suspending its dividends, cutting a revenue forecast and slashing compensation for top executives in its most drastic response to Spain’s debt crisis.

European Central Bank President Mario Draghi said policymakers would do whatever it takes to preserve the euro.

Beyond its banks, Spain now has to deal with failing regional governments. After the region of Valencia formally requested a bailout, rumors that several others, including Catalonia and Murcia, spooked investors as expectations that Madrid will have to shoulder an even larger debt load.

South Korea-based Posco, Asia’s third-biggest steel producer by output, said second-quarter profit declined 44 percent as demand waned from carmakers and shipbuilders.

When currencies collapse then commodities and gold and silver set new highs. We are seeing signs of that beginning now. It is exacerbated by international instability when empires collapse and massive uncontrollable migrations of people occur to escape increasing hardships.

Emerging markets faltered. All world markets will suffer now unless Obama is given the heave-ho. http://finance.yahoo.com/echarts?s=^BVSP+Interactive#chart1:symbol=^bvsp;range=2y;indicator=volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefine

Germany faltering below the recent high: Choose 2 or 5 years. The DAX can’t even keep up with the DJI!
http://finance.yahoo.com/echarts?s=%5EGDAXI+Interactive#chart2:symbol=^gdaxi;range=2y;indicator=ema(200,100)+volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on

The Swiss Market is testing moving averages. It gave a sell signal last year.
http://finance.yahoo.com/echarts?s=%5ESSMI+Interactive#chart1:symbol=^ssmi;range=2y;indicator=volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined

American Economy
This Week
FHFA Housing Price Index May 0.8% same as last months 0.8%

Yesterday
The Commerce Department said Wednesday that sales of new homes fell 8.4% last month from May’s 369k rate to a 350K rate in Jun

MBA Mortgage Index 07/21 was 0.9% down sharply from 16.9% last month.

Crude Inventories 07/21 rose 2.717M even as prices plummet due to a world economic slowdown.

Today

Jul 26 8:30 AM Initial Claims 07/21

Jul 26 8:30 AM Continuing Claims 07/21

Jul 26 8:30 AM Durable Orders Jun

Jul 26 8:30 AM Durable Orders - ex Transportation Jun

Jul 26 10:00 AM Pending Home Sales Jun

This Week

Jul 27 8:30 AM GDP-Adv. Q2

Jul 27 8:30 AM Chain Deflator-Adv. Q2

Jul 27 9:55 AM Michigan Sentiment - Final Jul



Market outlook July 26, 2012
Our anticipated world market drop similar to the one we saw starting in August of last year has begun. Cash and precious metals are a better choice than being fully invested in stocks right now until it is abundantly evident Obama and Holder will be out of office.

Examine the last 5 years of the NYSE. Obama could easily take America into a profoundly deep depression breaking 2009 lows if he is re-elected.
http://finance.yahoo.com/echarts?s=%5ENYA+Interactive#symbol=^nya;range=5y;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. The Rails failed again to meet even the last shoulder of the head and shoulder sell signal.
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;

The market sell signal is also seen in 3-month market cyclic data.
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 is now extremely complacent and extremely dangerous. Low volatility means it takes very little to move the market down because no one is buying stocks. The VIX indicates the market has a long way to fall until the VIX rises above 30 where bear markets normally end.
http://finance.yahoo.com/q/bc?s=%5EVIX&t=5y&l=on&z=l&q=l&c=

The Baltic Dry Index is already anemic and now is turning lower again. World trade has now almost completely collapsed with just having Obama around, without tariffs that were the blame for the collapse during FDR’s socialist experimentation that resulted in the last Great Depression. Clearly it is the corruption of gangster socialism and its crony capitalism, not rigorous free enterprise, that always ends in collapse of production and then economic depression.
http://www.bloomberg.com/quote/BDIY:IND/chart

Stock market update:
Asian markets were mixed last night. China down -0.5%, Hong Kong up 0.1%, Taiwan down –0.1%%, Japan up 0.9%.

European markets were mixed half way through their day in a range of +0.6% to -0.9%

American market futures are down about –0.5% in after-hour trading at 6:30 AM EST.