Rasmussen: Voters say Ryan more qualified to be president than Biden.
http://www.rasmussenreports.com/public_content/politics/obama_administration/daily_presidential_tracking_poll
The Chronicle of Philanthropy's study released this week reported residents in Republican-leaning states give more of their money to charity than those in Democrat-leaning states.
Obama and Democrats have spent more than they brought in last month as the Obama expanded his campaign operations and purchased millions of dollars in television advertising.
Facebook director Peter Thiel sold most of his stake bringing his profits to more than $1 billion, after restrictions on insider sales ended. Now that he has his money he is getting out.
Coca-Cola Hellenic Bottling Co. posted a 15 percent decline in second-quarter profit as poor weather and general economic decline slowed demand.
Urban Outfitters Inc. stock price rose 17 percent in Tuesday New York trading after second-quarter profit rose only 1.2 percent.
Facebook last week unlocked the first of five insider sale restrictions scheduled during its first year as a public company. Facebook shares fell to a record low after insiders could sell 271.1 million shares for the first time since the initial public offering. Facebook will face five times that pressure when another 1.44 billion shares are freed up through November.
Barnes & Noble Inc. euphoria has evaporated as it becomes clear that Microsoft is not interested in them and the largest U.S. bookstore chain will continue to struggle to avoid the fate of the music and movie stores.
Treasuries fell, extending a four- week decline, after Der Spiegel magazine reported the European Central Bank is considering a plan to use the Obama’s quantatative easing Ponzi scheme to cap on euro-area bond yields to contain the debt crisis. But Germany disputes the report.
Lowe’s the second-largest U.S. home-improvement retailer, reported net income dropped 10 percent. Chief Executive Officer Robert Niblock is cutting more than 500 jobs this year after Lowes closed 27 U.S. stores and canceled plans for new locations. HomeDepot stores clearly have been quite empty too so it is hard to understand where their housing industry optimism comes from. As long as the socialists maintain liar loans and Fannie and Freddie’s big salaries for Obama socialist appointees the housing depression will continue.
Once Obama adopted the Japanese failed QE policy he put America on a socialist disaster course that caused a 65% collapse in the Japanese stock marker and began the perpetual depression that socialism eventually brings to every nation that resorts to socialism.
World market this week
Tianjin district China announced a multi-year target of $236 billion for industrial investment, joining a similar plan by Chongqing amid local efforts that try to help reverse China’s growth slowdown.
The second shoe of the Obama Worldwide Great Depression is beginning to fall. It is energy related as hydrocarbons are taxed to reduce demand and instead the socialists destroy the margin of profitability of the nation. Britain unexpectedly posted a budget deficit in July as corporation-tax receipts plunged. The shortfall, which doesn’t even include the government support for banks, was $878 million compared with a surplus of $4.48 billion pounds a year earlier, the Office for National Statistics said in London Tuesday. Tax revenue fell 0.8 % and corporation tax plunged 19.3 %. Government spending rose 5.1 %.
Japan vehicle sales will drop as much as 20 percent next quarter as the Japanese subsidies expire.
Germany’s largest utilities are shunning cleaner-burning natural gas because it’s more costly, while the collapsing cost of carbon permits means there’s little penalty for burning coal. Wind and solar projects, central to Germany’s plans to reduce nuclear energy and cut the release of heat- trapping gases, can’t produce electricity around the clock.
Average asking prices in England and Wales fell a record 2.4 percent from July, when values declined 1.7 percent, the operator of Britain’s biggest property website said in London Monday.
Bank of Japan Governor Masaaki Shirakawa, who set the nation’s first inflation goal six months ago to halt a decade-long quantitative easing struggle with deflation, has failed to produce the inflation craved by exporters.
Protests erupted in China and Hong Kong over the weekend as Japanese activists landed on an island in the East China Sea claimed by both countries, intensifying a dispute between Asia’s two biggest economies.
China’s stocks fell to the lowest level this month after real-estate prices rose in the largest number of cities in 14 months.
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 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 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.
American Economy
The market is testing recent highs on weak volume. The S&P and the NYSE and the DOW Rails all failed to break old highs and failed to reverse their existing sell signals. The recent market rally was due to hedge funds unwinding bets against European stocks at the fastest pace in three years, speculating that European socialist policy makers will join the Obama debt Ponzi scheme to increase debt. That means the hedge funds have stopped buying stocks to cover their shorts and are ready to short again.
The VIX is showing that a bear market is highly probable now and the VIX will have a long way to go up until the VIX is above 30 where bear markets normally end.
Last Week
Retail Sales Jul 0.8% up from -0.5% great weather
Retail Sales ex-auto Jul 0.8% up from -0.4% very good
PPI Jul 0.3% up from 0.1% a 3.6% inflation rate not good. The Fed wants no more than 2.5% annual inflation
Core PPI Jul 0.4% up from 0.2% a 4.8% core inflation rate means the fed cannot relax money supply more.
Business Inventories Jun 0.1% still increasing 0.3% not good because that means too many workers so less hiring
Yesterday
MBA Mortgage Index 08/11 -4.5% down sharply again -1.8%
CPI Jul 0.0% 0.0% Prices and gasoline much higher than reported
Core CPI Jul 0.1% Obama manipulation 0.2% Prices and gasoline much higher than reported
Empire Manufacturing Aug -5.9 down sharply 7.4 terrible news for NY
Net long-term TIC Flows Jun $9.3B down from $55.0B means foreign investment in the US is plummeting
Industrial Production Jul 0.6% 1.0% 0.6% 0.1% 0.4%
Capacity Utilization Jul 79.3% 79.4% 79.3% 78.9% -
NAHB Housing Market Index Aug 37 35 35 35 -
Crude Inventories 08/11 -3.699M shortages -3.729M prices rising
Today
Initial unemployment Claims 08/11 366K up from 361K
Continuing Claims 08/04 3305K down slightly from 3332K
Housing Starts Jul 746K down from 760K
Building Permits Jul 812K up from 755K
Philadelphia Fed Aug -7.1 manufacturing still contracting -12.9
This week
Mich Sentiment Aug 73.6 turned up from 72.3
Leading Indicators Jul 0.4% rose with the stockmarket from -0.3%
This Week
Aug 21 2:00 PM FOMC Minutes 7/31
Aug 22 7:00 AM MBA Mortgage Index 08/18
Aug 22 10:00 AM Existing Home Sales Jul
Aug 22 10:30 AM Crude Inventories 08/18
Aug 23 8:30 AM Initial Claims 08/18
Aug 23 8:30 AM Continuing Claims 08/11
Aug 23 10:00 AM FHFA Housing Price Index Jun
Aug 23 10:00 AM New Home Sales Jul
Aug 24 8:30 AM Durable Orders Jul
Aug 24 8:30 AM Durable Orders -ex Transportation
Market outlook August 21, 2012
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.
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 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 NASDAQ is near its march level now.
http://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 showing record lows not seen since just before the panic of 2007 indicating that a bear market is highly probable now and will have a long way to go up until the VIX is 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 says world trade is plunging toward a depression low. Clearly Obama Solyndra corruption and gangster fast and furious socialism and Obama’s Goldman Sachs crony capitalism will only end in further collapse of production, collapse of small businesses and then the round up of the hated 2%.
http://www.bloomberg.com/quote/BDIY:IND/chart
Stock market update:
Asian markets were down last night. China up 0.5%, Hong Kong down –0.1.7%, India up 1.1%, S. Korea down –0.1%, Japan down –0.2%.European markets are up half way through their day in a range of 0% to +0.7%.
American market futures are flat at about +0.2% in after-hour trading at 8 AM EST. This indicator does not statistically correlate with anything.
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