Cloud computing has the programs running on the Internet not in your private computers. That opens the possibility of private data being accessed on the Internet. With hundreds of billions of appliances and inexpensive sensors that will collect a flood of new data… that will ultimately prove to be too big a temptation to data miners and to government and industrial piracy of government and private intellectual property. It will damage America and the EU more than outsourcing already has. Basically it gives criminals the ability to read the minds of the employees in the corporations in the most advanced countries and in their homes.

Obama wants to "Share the Wealth", his share of your wealth to be exact.

Our warriors who took out Bin Laden are taking political action to replace their commander in chief because he has loose lips that put them and all Americans at risk.

Fortune Magazine this week said that for 25 years CT has been the state with the highest per capita income in the U.S., but is now leading the nation in home-price declines.   Now after three years of Obama, housing values are still falling with prices in the bedroom communities of Greenwich and New Canaan now 12.9 percent lower in the second quarter than only a year earlier. Barrons Magazine just rated Connecticut dead last in the nation. 

"Americans are smart enough to know we don’t know all the answers but not dumb enough to believe there are not better answers"- Ann Romney

"This pathetic president spent his entire time dividing the nation." "He has taken all the wealth entrepreneurs created and calls it greed." He is pathetic." Kenneth Langone said

Our government spent 8% GDP in 1910, we were at 25% pre-Obama, and Obama has set the deficit spending to take spending to 40% of GDP mostly spent on a government welfare society in four years.

A recent survey of traders and analysts at a conference in South India this weekend concluded gold bullion would climb the most since a 30 percent surge in 2010. That is in line with the high deficits being run by Obama and the socialists of Athens, and Portugal and all the banana republics run by incompetent administrations.

Mitt Romney would drop government spending to 20% of the GDP as it was under Reagan. Mitt Romney slipped 3% in the polls prior to the convention. Americans need to give the Democrat Socialists the boot out of all federal offices if the Obama Greatest Depression Ever on Earth is going to be stopped. There has to be a limit on the maximum permissible Federal/State/Local Government’s spending percentage of the GDP. Only by controlling the spending will America get the debt and the percentage of freeloaders under control. We need a Constitutional limit on taxes. There were no income taxes of any kind until more than 100 years after the constitution was written.

Clearly Obama Solyndra corruption, gangster fast and furious gun-running, and Obama’s Goldman Sachs crony capitalism will only end in further collapse of American production, collapse of small businesses and finally the Obama round up of the hated 2% of wealthy people who will not give the 40% who do nothing but vote for Obama socialism, what they want.

Lexmark International Inc. the U.S. printer maker, plans to eliminate 1,700 positions and shut a factory in the Philippines and will cut 1,100 manufacturing positions and also reduce positions in research and development in Lexington, Kentucky. It explores a sale of its main source of income, inkjet technology to raise cash. The inkjet manufacturing facilities in Cebu will be closed by the end of 2015.

Oil rose in New York as U.S. crude inventories were forecast to drop, a storm headed for the Gulf of Mexico and a fire continued to burn at Venezuela’s biggest refinery.

Sands China and its U.S. parent Las Vegas Sands are facing weaker growth in the former Portuguese colony this year as China’s economy slows and high- stake gamblers cut spending. The company is also under greater scrutiny amid the Macau investigation and probes by U.S. regulators.

Tiffany reduced its global net sales growth forecast by 1 percentage point. It lowered its full-year profit outlook to $3.55 to $3.70 a share from $3.70 to $3.80. Global sales at stores open at least a year fell 1 percent, excluding the impact of currency fluctuations.

The CBS News poll is finally converging with what the more unbiased Rasmussen poll has been saying all along. However the morons are digging in because they are becoming dependent on the Obama gravy train.

Rasmussen reports daily Presidential Tracking Poll for Wednesday shows Mitt Romney attracting support from 45% of voters nationwide, while President Obama earns the vote from 46%.http://www.rasmussenreports.com/public_content/politics/obama_administration/daily_presidential_tracking_poll

　

World market this week
An index of executive and consumer sentiment in the 17- nation euro area dropped to 86.1 from 87.9 in July, the lowest since August 2009. It is as bad as confidence in America.

Australia faces a deepening slowdown and falling export prices as windfall gains from exports reached a 140-year high last year.

Infosys Ltd. (INFO), India’s second largest software developer by value, has peaked as outsourcing in the USA already has peaked. If Americans take back the government in November the new tax code will make it profitable to do all work in the USA again. If the imported morons win a second term there will be no work in America or the EU for four more years. Either way Infosys and other big outsource firms will go out of business or will evolve into new kinds of firms over the next four years.

German unemployment increased for a fifth straight month in August as demand for exports fell and companies held back investment.

Europeans have 15 days to justify bondholder optimism that they can deliver lasting solutions to the contagion of debt turmoil. Then new borrowing is needed.

European Central Bank President Mario Draghi hit back at German criticism of his plan to adopt the Obama Ponzi scheme and intervene in bond markets to drop interest rates so that Europeans can afford to spend their grand children’s inheritance.

China's biggest listed steel maker, said its expects its third quarter to be 'most difficult,' in continuing evidence that the world's No. 2 economy is in trouble.

French industrial confidence has been at its lowest for two years, increasing pressure on President Francois Hollande’s government to revive growth and spend their great-grand children’s inheritance.

350 million families living below India’s poverty line starve with a corrupt distribution system that rots 15% of the food to justify stealing another 15% sold by corrupt socialist politicians.

Ivica Dacic, Milosevic’s former socialist wartime spokesman, became prime minister of Serbia a month ago and Tomislav Nikolic, who served as deputy prime minister of the former Communist Yugoslavia toward the end of Milosevic’s regime, was sworn in as president in June. Both men, once barred from entering the EU have pledged to fix the economy.

The Czech Republic is set to borrow at a record-low cost for the fifth consecutive bond auction today as the koruna’s rally to the strongest in four months.

Deutsche Lufthansa AG (LHA) declined 1.8 percent after the airline’s main cabin-crew union planned to strike.

Spain’s recession worsened in the second quarter as the government’s austerity push to reduce the enormous budget deficit and a slump in consumer spending offset growth in exports.

China attacks car driven by Japanese officials in Beijing. "China has told us this was an extremely regrettable incident," Fujimura said. "The authorities said they will make every effort to prevent a re-occurrence of such an incident, and guarantee the safety of Japanese citizens and businesses."

Socialist Hollande says economics bites. He returned from a 15-day summer break last week faced an economy that hasn’t grown in three quarters, rising joblessness, a ballooning trade deficit and a budget hole of more than 30 billion euros ($37 billion) for next year. The challenges ahead may undermine the rally in French bonds that has allowed the country to sell bills at negative yields for the first time in history. During Hollande’s first 100 days in French 10-year debt sold better than comparable German securities. That trend is reversing

Hungary’s central bank will refrain from cutting the EU’s highest benchmark interest rate because of accelerating inflation.

German Chancellor Angela Merkel told officials in her coalition calling for a Greek exit from the Euro to "weigh their words" as she signaled a renewed determination to keep the single currency intact. No progress was made on deficit spending in Greece but the current leader is the first to say he is at least trying. The Ifo institute of Munich said German business confidence dropped to 102.3 from 103.2 in July. That’s the lowest reading since March 2010. Economists predicted a lesser decline to 102.7 so perhaps it has over spiked and is ready to advance next month.

Portuguese government bond trading in the secondary market dropped to an average 3 million euros a day in July, the lowest since at least 2000, from 15 million euros in June. This is the reaction artificial lowering of rates when the governments bid on their own bonds. Liquidity dries up as the situations approach instability. The lower the rates the higher the risk of investors loosing more than 80% of their investments.

A Bloomberg survey of traders and analysts at a conference in Hyderabad in South India on Aug. 25 concluded gold bullion may reach $1,800 an ounce before the year-end. That would be the most since a 30 percent surge in 2010.

Germany’s economic growth slowed to 0.3 percent from 0.5 percent in the first three months of the year, the Federal Statistics Office said today.

Emerging-market stocks dropped to a three-week low as a U.S. jury ruled Samsung Electronics Co. had infringed

Emerging markets will continue to suffer 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

Emerging market composite indicates continued breaking down through the recent lows.http://finance.yahoo.com/echarts?s=%5EGSPTSE+Interactive#symbol=^gsptse;range=5y;compare=;indicator=ema(200,100)+volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined;

German stocks are faltering below the recent high that is now close to the March level which is still below the high of 2011 and 2012: Choose 2 or 5 years.
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. It is at a new high for 2012 but below the 2011 high.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
The QE Ponzi scheme continues to destabilize the American economy and Draghi wants Germany to do it for the EU and destroy the future of German children and grandchildren. A cash crunch is beginning among American home owners. Cash is locked up in fixed assets and falling home prices now is hitting the vast majority of Americans who took out home equity loans. Once the bond market collapses -70% all trade and economic exchange will collapse because the free world runs on credit cards not cash and the banks will be insolvent because they hold unstable American treasuries. The world governments are running out of money for their social nets.  Everyone must have skin at risk in the economy. 

YesterdayCase-Shiller 20-city Index Jun 0.5% much improved from -0.7% but CT is down 12.9% from last year.

Aug 28 10:00 AM Consumer Confidence Aug 60.6 a huge drop from 65.9 as Obama’s moron economy goes nowhere.

MBA Mortgage Index 08/25 -4.3% bad again after -7.4% -

GDP - Second Estimate Q2 1.7% still poor after 1.5% -

GDP Deflator - Second Estimate Q2 1.6% still says the GDP increase is due to inflation1.6% not real growth

Pending Home Sales Jul 2.4% improved from -1.4%

Crude Inventories 08/25 3.778M improved from -5.412M

This Week
Aug 30 8:30 AM Initial Claims 08/25

Aug 30 8:30 AM Continuing Claims 08/18

Aug 30 8:30 AM Personal Income Jul

Aug 30 8:30 AM Personal Spending Jul

Aug 30 8:30 AM PCE Prices - Core Jul

Aug 31 9:45 AM Chicago PMI Aug

Aug 31 9:55 AM Michigan Sentiment

Aug 31 10:00 AM Factory Orders Jul

Market outlook August 30, 2012
Markets are weak today. This is the quiet before the storm with the VIX under 14 and extreme complacency. Most of Europe takes all of August as a vacation so it is a lost month every year.

People forget that the DJI is not by itself the famous stock market indicator. The DJR must confirm the DJI for there to be a buy signal or sell signal. The DJI and DJR confirmed a sell signal together in August 2011and the DJR remains confirming that sell signal today. The DJI is the last "safe" place bulls go to reduce risk before the entire stock market collapses. Therefore the DJI is biased bullish and needs the DJR for balance. The DJ Rails continues to say sell even as people seek the false security of the DJ Industrials. The Divergence you see is the classic symptom of the Dow theory bull’s trap.
http://finance.yahoo.com/echarts?s=%5EDJT+Interactive#symbol=^djt;range=6m;compare=^dji;indicator=;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined;

12,000 Federal workers are reported getting government pensions exceeding $100,000/yr for life.

The NYSE is much more representative of the US economy than are the DOW indices. Examine the last 5 years of the NYSE. It shows that Obama may be taking America into a profoundly deeper 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. Notice that yesterday wasn’t even a breakouthttp://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 NASDAQ is near its march level nowhttp://finance.yahoo.com/echarts?s=QQQ+Interactive#symbol=qqq;range=my;compare=;indicator=;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined;

The VIX is rising? The low VIX normally precedes a sell-off. Once that starts the VIX needs to go up above 30 until bear markets normally end. The driving force this year is the election and whether the morons win or losehttp://finance.yahoo.com/q/bc?s=%5EVIX&t=1m&l=on&z=l&q=l&c=

The Baltic Dry Index says world trade is now at a depression low.http://www.bloomberg.com/quote/BDIY:IND/chart

Stock market update:
Asian markets were down last night. China down –0.1%, Hong Kong down –1.2%, India up 0.3, Japan down -1%.
European markets are down sharply half way through their day in a range of -0.2% to –0.8%.

American market futures are down at about -0.4% in after-hour trading at 7 AM EST. This indicator does not statistically correlate with anything.