FDR created Social Security for seniors and Obama is now giving it to his growing voting constituency who find work degrading and undignified . Responsible Americans have to carry the entire tax burden. Obama is now dissipating all the wealth that was acquired from 230 years of American free enterprise. When our wealth is gone the socialist governments that remain will have the modernized versions of socialists like Hitler, Stalin, Mao, and Pol Pot.
The USA is no longer attracting intelligent hard working people who want a chance to succeed. Instead the socialists are trying to redistribute the income of the hard working job creators with higher taxes and intelligent hard working people are starting to leave America.
The Obama Justice Department said Thursday that their shakedown of Goldman Sachs worked and Goldman Sachs met their campaign contributions on time. Therefore neither Goldman Sachs nor its employees will face criminal charges related to betting against their clients during the financial crisis. So far only Bank of America has been punished .
Americans voted for Jimmy Carter because he was a nuclear engineer so we thought he must be smart. He destroyed the American Nuclear industry and cut Americans living on Social Security to the point some were caught on film buying pet food to eat.
As the situation worsened Hitler was elected and he blamed the bankers and the richest 2%. Hitler had the Brownshirts harass and intimidate his detractors.
Obama actually believes NASA, Government agencies, and the Army, Navy, and Airforce built our technology. Obama does not understand that American engineering firms build our technology and individual consumers like people, other private enterprises, and the government just place orders. Government is a consumer of technology. When you buy a car and pick out the features you are not the creator of the car. You are still just a consumer. The government is 99% a consumer. American transportation infrastructure was once private and there were toll roads, toll bridges and toll ferries etc. That was the highest growth period of the USA back in the 1800’s. Now the government regulates and purchases most of the infrastructure from private firms.
The government is a consumer and a regulator and sometimes makes the mistake of trying to compete with private enterprise primarily with propaganda news and film enterprises because Dr. Goebbels said that was essential to the success of socialism. “Make the lie big enough to thrill as well as convince the audience.” Usually governments do not design bridges, buildings, airports, vehicles, and any major aspect of any transportation system with exceptions being the USSR, and Red China. Adolf Hitler used the system China is now developing which is capitalism under Socialist supervision where the government privatizes but regulates production as well as all the OSHA and other safety things.
In America, most of the higher education system is privatized. Most of local education is funded by towns through elected School Boards. One thing Americans do not understand is that socialists think competition is bad. So when an American points out to Obama that his taxes will destroy the incentive to work hard and competitive talented people will move to Canada and even London, Obama says good riddance because competition is an evil of the middle class (the decadent bourgeoisie). Socialism’s goal is to have a classless low-income society. Most liberals do not understand that after they took power, Hitler, Stalin, Mao, and Pol Pot slaughtered the liberals first. The Hollywood stars with their cars and jewelry will never be seen again after the real socialists take power. And when they take it they want to rule for life as modern day versions of Genghis Khan.
Obama’s campaign is making all-time moral and ethical lows. Now they say America’s free enterprise system failed and is an “e coli Republican disease.” “Mitt wants to take you back the way it was before Obama saved us.” Obama says the e coli system of the “Founding Slave Masters” must be replaced by his compassionate style socialism that gives everyone who will vote for him 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 .
http://www.huffingtonpost.com/2012/08/03/chick-fil-a-kiss-ins-gay-lgbt_n_1739365.html
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
J.C. Penney Co. reported a greater loss as Chief Executive Officer Ron Johnson’s overhaul of the fourth-largest U.S. department-store company failed to draw customers.
News Corp. reported a nearly $1.6-billion loss in its fiscal fourth quarter.
The euro weakened Wednesday as a drop in German industrial production, lower U.K. growth forecasts and ratings cuts for Spain and Italy pointed to Europe’s sovereign-debt crisis is worsening.
Shares of corporations in the travel industry plummeted Wednesday. Priceline sank 16% pulling down other online travel names with it. Expedia Inc. (EXPE) was down 2.7%, TripAdvisor Inc. (TRIP) fell 4.2%, And Orbitz Worldwide Inc. (OWW) stock slumped 19% as it reported a second-quarter disappointment of its own, confirming the European problem. Chief Executive’s reported global economic uncertainty intensified during the second quarter and continued into the third, resulting in a lowered sales outlook for the year.
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.
The Rasmussen Reports daily Presidential Tracking Poll shows Mitt Romney stuck in a 45%dead heat with Obama. Confidence in the U.S. job market has fallen again, with the highest number of Americans in 10 months describing the employment situation as worse than it was a year ago.
http://www.rasmussenreports.com/public_content/politics/obama_administration/daily_presidential_tracking_poll
World market this week
French industrial output stagnated in June, the latest sign that the euro area’s second-largest economy is falling back into the second recession in three years.
Hong Kong’s economy grew at close to the slowest pace since the Obama took office amid waning export demand from advanced nations.
ThyssenKrupp AG, Germany’s biggest steel maker reported its first quarterly profit after three consecutive losses.
Bank of Ireland Plc retreated 6.1 percent as first-half loss more than doubled.
State Bank of India, the nation’s largest bank, fell in trading as its loan-default ratio rose sharply.
Oil fell the most in six days as a collapse in China’s export growth signaled the global economy is weakening and the International Energy Agency said demand expansion is slowing.
Japan will double their 5% sales tax as public debt is 230 percent of national output this year, the highest anywhere in the world. Japan’s spending has them in a recession that has now lasted about 22 years. In 1986 Japan had the highest growth rate, and had the second highest GDP just behind America and just as China does today.
News Corp. swung to a loss of $1.6 billion in its fiscal fourth quarter.
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.
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
Emerging market composite indicates it is breaking down through the 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 well below 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
Consumer Credit spending in Jun fell 66% to $6.5B from $17.1B last month.
MBA Mortgage Index 08/04 -1.8% far below last 0.2%. The housing crisis worsens
Productivity-Prel Q2 1.6% up from -0.9% A probable data scatter.
Unit Labor Costs -Prel Q2 rose 1.7% a 6.7% annual rate
Crude Inventories 08/04 -3.729M prices will continue to rise for gasoline -6.522M
Yesterday
Initial Claims 08/04 363K steady but again manipulated data from Obama.
Continuing Claims 07/28 3332K up from 3272K
Trade Balance Jun -$42.9B down from -$48.7B as international trade continues to collapse.
Wholesale Inventories Jun –0.2% shrunk from 0.3% as factories shut down
Today
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 10, 2012
When interest rates are artificially kept low by governments it is to enable the government to borrow continuously and afford ever-higher debt. The way it is done is for the government to compete with private bidders and therefore artificially increase demand and keep rates low. This is a Ponzi scheme that is both unsustainable and at the same time makes the economy more volatile until it becomes unstable. That is what the Weimar republic did and what caused German hyperinflation when it went unstable. The whole world is starting to use the Obama-Bernanke Ponzi scheme. (to be continued)
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” then move it start in January of 2011and 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. 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;
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 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 down last night. China down -0.3%, Hong Kong down –0.7%, India down -0.1%, Japan down -1%.
European markets today are down sharply half way through their day in a range of –0.3% to -0.9%.
American market futures are down about -0.4% in after-hour trading at 7:30 AM EST. This indicator does not statistically correlate with anything.
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