Obama is bankrupting America. Obama in his first term already spent everything the workers saved. A new study shows the generation of workers retiring today have paid more in Social Security taxes over their careers than they will get back in benefits when they retire. If you consider what they would have if they received 2%/yr on what they paid in they will be receiving less than half of what they put into Social Security.
Monday, Obama’s campaign sued Ohio over their early voting law that gives men and women serving America overseas an extra week to send in their election ballots. A reliable Obama spokesman said it was an issue that came up in 2000 when it the high percentage of military votes went to George Bush.
http://blog.heritage.org/2012/08/06/keeping-the-military-from-voting-in-ohio/
http://www.foxnews.com/politics/2012/08/04/obama-campaign-sues-ohio-over-early-voting-law-for-military/
http://www.newsmax.com/Headline/Ohio-military-vote-Democrats/2012/08/03/id/447552
Obama says America’s free enterprise system failed and must be replaced by his compassionate (Hitler-Stalin) style socialism that gives everyone in need a cell phone, an apartment, food stamps, welfare, and child support. Obama says, "From each according to their ability, to each according to their wants and disabilities." Fake disability claims against Social Security in the USA are now estimated to outnumber valid claims by six to one. Food stamps under Obama marketing has doubled since he took office, housing subsidies in America have tripled. Obama Ghettos are growing and the ghetto children who already have attention deficit disorders have free Obama cell phones they can use with free Obama minutes so they can text each other during what Obama says are their “boring” classes. 60% of Obama’s student supporters dropped out of school and went on welfare.
http://urbanlegends.about.com/od/barackobama/a/obama_phone_free_cell_phones.htm
http://www.govcellphones.com/
http://www.freegovernmentcellphones.net/free-cell-phone-providers/assurance-wireless
http://theeconomiccollapseblog.com/archives/outrageous-the-federal-government-is-giving-out-free-cell-phones-and-free-cell-phone-minutes-to-welfare-recipients
Long term unemployment has doubled under Obama.
http://video.foxbusiness.com/v/1733671659001/study-youre-paying-for-government-until-july-15/
http://poorrichardsnews.com/post/27146302552/long-term-unemployment-has-doubled-under-obama
This person agrees with Obama completely but Stossel disagrees and says it is a dangerous.
http://video.foxbusiness.com/v/1767366053001/?intcmp=obinsite
Obama’s Octomom has 14 children and while on welfare, the last eight were paid for by California socialist program to give women on welfare free in vitro fertilization (IVF). Each of her 14 children now has the very best free Obama cell phones. She is asking her fans to send her money for a bigger mansion. Obama spokesmen will not comment on whether it is true her growing cause with leftists is making it difficult for Obama to reach his 1$Billion goal for his election campaign.
http://en.wikipedia.org/wiki/Nadya_Suleman
http://abcnews.go.com/blogs/entertainment/2012/07/octomom-asks-fans-to-send-money-for-a-new-home/
https://www.cryobank.com/free-info-kit.cfm?urlid=google_spermbank_nationwide&gclid=COSRhuXE1bECFYfe4AodVCkAsQ&CFID=9047464&CFTOKEN=15938558&jsessionid=84301d9a71c2cd91cdef2d4052f4b273c2c2
Democrat Senate Majority Leader Harry Reid told the Huffington Post that a person had called his office and told him that Mitt Romney had not paid any taxes in ten years. House Democratic Leader Nancy Pelosi on Monday said she believes Reid when he says he got the information from a credible source. Obama’s spokesman refused to say if Obama had asked Harry to make those claims. Even the leftist media is beginning to realize the socialist Obama administration is losing credibility and is becoming desperate. It is rumored by incredible sources that Obama has resumed selling his sperm to the California in vitro fertilization (IVF) program to help pay for his campaign adds.
http://www.washingtonpost.com/blogs/fact-checker/post/four-pinocchios-for-harry-reids-claim-about-mitt-romneys-taxes/2012/08/06/c31a1402-e007-11e1-8fc5-a7dcf1fc161d_blog.html
Apple Inc. said Google Inc.’s highly popular YouTube won’t be included in the next version of the software used in the iPhone and iPad.the latest sign that Apple would cut off its nose to spite its face.
Morgan Stanley & Co was accused in a lawsuit by Hong Leong Finance Ltd. of Singapore of deceptively selling investments while rigging them to fail for Morgan Stanley’s own benefit.
Fertilizer producer CF Industries Holdings Inc posted a lower-than-expected second-quarter profit on Monday due to falling demand.
The Rasmussen Reports daily Presidential Tracking Poll shows Mitt Romney stuck in a 47% to 45%dead heat with Obama. http://www.rasmussenreports.com/public_content/politics/obama_administration/daily_presidential_tracking_poll
World market this week
German factory orders, adjusted for seasonal swings and inflation, dropped 1.7 percent from May, the Economy Ministry in Berlin said today. From a year earlier, German factory orders fell 7.8 percent when adjusted for workdays. The decline is more than twice as much as economists forecast.
The Tokyo Stock Exchange Group Inc.’s second major system error in seven months halted derivatives trading for about 95 minutes, cutting equity volumes, driving government bonds lower
Yields on Spanish and Italian two- year notes rose for the first time in five days as hope in the quantitative Ponzi easing scheme faded, and Standard Chartered Plc tumbled the most since at least 1988. Spain’s 10-year bond rose nine basis points to 6.83 percent.
Elan Corp, the Irish drugmaker, sank 11 percent to its lowest price this year as it wrote down to zero the value of its venture with Johnson & Johnson.
Italy’s economy contracted for a fourth straight quarter amid an intensifying euro-area debt crisis.
China’s volatility indexes are increasing and that is a sign that the bull trap is beginning to close on all world stock markets and that the bears know Obama-Bernanke-Draghi are running the Japanese Ponzi scheme that has keep Japan’s economy stagnant since 1990. Obama can’t figure out why the Ponzi scheme does not work.
German bonds rose, with yields on 10- year bunds falling from a one-month high, and the euro weakened.
Italy said the EU is at risk.
U.K. house prices fall in stagnant market.
Spanish and Italian two-year notes climbed for a fourth day amid ignorant speculation the European Central Bank will execute the Japanese/Obama Ponzi scheme and buy the securities. It increases the prospects of a perpetual recession with virtually unlimited national debt.
Italian industrial production declined 1.4 percent from May, a –17% annual rate of decline if it continues.
In spite of miss reporting by MSNBC that Emerging markets recovered then faltered at recent highs which are well below the March level which is well also below the high of 2012. All world 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
Germany faltering below the recent high which is well blow the March level which is well below the high of 2012: 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. It is at a new high for 2012 but well 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
Today
Aug 7 3:00 PM Consumer Credit Jun
This Week
Aug 8 7:00 AM MBA Mortgage Index 08/04
Aug 8 8:30 AM Productivity-Prel Q2
Aug 8 8:30 AM Unit Labor Costs -Prel Q2
Aug 8 10:30 AM Crude Inventories 08/04
Aug 9 8:30 AM Initial Claims 08/04
Aug 9 8:30 AM Continuing Claims 07/28
Aug 9 8:30 AM Trade Balance Jun
Aug 9 10:00 AM Wholesale Inventories Jun
Aug 10 8:30 AM Export Prices ex-ag. Jul
Aug 10 8:30 AM Import Prices ex-oil Jul
Aug 10 2:00 PM Treasury Budget Jul
Market outlook August 7, 2012
The surge in stock prices that came last week as the Ponzi scheme moved from Japan to the US to finally to Europe last week failed to result in a breakout or anything near a buy signal. Also the volume of shares traded declined about 30% indicating the situation is even more precariously unstable.
This is what we are beginning to see. The markets and the economy are becoming unstable as the Quantitative Easing Ponzi scheme grows internationally. The 1922 Great Depression type German death spiral followed by hyperinflation is beginning to loom now on the Obama horizon. That scenario catapulted National Socialism and international socialism in the 1920s and 1930s. But this time Obama will destroy American free enterprise and America will not be there to stop the slaughter of innocent people who do not carry and wave the dominant leftist party flag. Even the communist Trotsky got an axe in his head courtesy of Stalin because his flag was not the correct red shade.
It appears that the stock market will still drop in 2012 starting roughly the same week that it dropped 10+% last year. Compare what GLD did when stocks dropped last August. To do that, right click and change the date range from “200 days” to “Past Year” and see what gold did. This is a good way to plot your stocks together.
http://stockcharts.com/freecharts/perf.html?DTD,EXT,EPS,EES,EZY,ROI,GLD
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.
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;
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 breakout.
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 is showing that the bear market has barely started and the VIX indicates the market has a long way to go 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 falling 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 up last night. China up 0.1%, Hong Kong up 0.4%, India up 1.1%, Malasia down –0.5%, Japan up 0.9%.
European markets today are up half way through their day in a range of –0.5% to +1%.
American market futures are up about 0.4% in after-hour trading at 7 AM EST. This indicator does not statistically correlate with anything.
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