Obama likes to say the stock market has risen since he took office but the truth is the market collapsed right after the 2008 convention. Earlier Obama had declared that we were in a Bush depression and Senator Dodd spread the rumors of impending runs on California banks. The stock market had fallen half way by Obama’s Election Day 2008 . It continued to fall for a month after. In other words the entire collapse of the market started when Obama was nominated. The stock market is a six-month leading indictor. The stock market advance since then is the result of the Ponzi scheme that started as soon as Obama took office when the banks were re-inflated with near free money to buy treasuries.

http://www.theblaze.com/stories/forward-for-communism-is-obamas-new-forward-slogan-really-a-coincidence/

Corruption is why privacy is so important to preserve American liberty. Privacy protects honest Americans from Socialist who harass and smear honest Americans with illegitimate subpoenas, investigations and other harassment that force honest Americans to lawyer up to defend themselves. Obama does not reveal any of the PACs that support him but all you hear about this week is that the PACs that support Mitt Romney should have to reveal the people and corporations that are part of the PACs. No one is calling for forcing government employee unions and Communist organizations to reveal their contributions. But the socialists demand that the captains of American industry should reveal their contributions. The socialist do not believe honesty and success go together. The slogan "Forward" has been a Communist Party slogan for eighty years and it is now Obama’s slogan.
http://spectator.org/archives/2012/05/03/obama-steals-maos-slogan

The socialist think American wealth is made with a quick buck, confiscation and you have to wipe out your enemies. Today Squawk Box was cutting the microphone on their moderate commentator, Joe, their MIT graduate. They were arguing about taxes and the Obama position is a tax hike in a middle of the recession while the Romney-Ryan plan is to close loopholes so the tax tables actually reflect what people pay. After America fell from 3000 feet Mike said Obama couldn’t take credit for the pavement that stopped the fall. Obama has to reduce investment uncertainty and create private sector jobs not create new government jobs or increase deficit spending uncertainty. Woody, the Jets Owner said the socialists have taken their eyes off the ball. The ball game is about decreasing private sector unemployment not increasing taxes.

Again, some one needs to tell nouveau socialists that using taxpayer funds to help smear and harass to is ostentatious political corruption. But political corruption just gets hotter. At least a dozen private-equity firms have been subpoenaed by New York's attorney general in a probe intended to try to smear Mitt Romney by including Bane just because Mitt Romney helped found Bane more than 20 years ago. Squawk Box said the subpoenas came out long ago but were just leaked to the leftists. Carried interest, the practice being investigated, is the biggest loophole Warren Buffet uses but he is not under investigation because he only contributes to the Democratic Party. No companies involving active Democrats are to be investigated. Previous investigations of the practice said they were legal.

WSJ NEW YORK--Gold futures edged to a fresh five-month intraday high Tuesday, buoyed by hopes that potential Ponzi monetary easing in the U.S. and Europe could boost investor demand for precious metals. Gold soared Friday to its highest settlement price since March after Federal Reserve Chairman Ben Bernanke defended the central bank's past Ponzi actions, fueling optimism that further easing could be implemented at the Fed's Sept. 12-13 policy-making meeting.

Central-bank stimulus actions, which increase the amount of cash in the financial system, boost precious metals as traders fearing inflation seek to store their wealth in hard assets. Traders are also eyeing the European Central Bank meeting, Thursday for news of potential stimulus measures to shore up euro-zone economies, which could be supportive for gold prices. ECB President Mario Draghi said Monday at a closed European Parliament hearing that the central bank is free to buy government bonds maturing in three years or less, but a bond-buying program hasn't been announced.

http://online.wsj.com/article/BT-CO-20120904-706565.html

The New England jobless rate rose 0.3% in July

Bank of America Corp. and Wells Fargo & Co. and others have contributed $20 million toward the cost of the Democratic National Convention, after Obama claimed they wouldn’t accept dirty corporate money, according to Bloomberg reports.

U.S. manufacturing teetered between growth and contraction in August, according to a survey of economists.

Bullion also was seen climbing as the euro rose as much as 0.3 percent against the dollar. Gold and the greenback tend to move inversely with the euro.

Bullard said the Fed is still awaiting more data before taking action

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. They had taken Bin Laden’s computer with the addresses of his commanders and Obama leaked everything so they could all get away.

The movie documentary, "2016" is very popular and is said to be a truthful presentation of the life of Obama and his goal to "Downsize America."

"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

According to the Washington Times, Obama is getting the moron vote (mostly women).
http://www.washingtontimes.com/news/2012/aug/22/obamas-looking-for-the-moron-vote/

Mitt Romney would drop government spending to 20% of the GDP as it was under Reagan. 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.

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 48% of voters nationwide, while President Obama earns the vote from 44%.
http://www.rasmussenreports.com/public_content/politics/obama_administration/daily_presidential_tracking_poll

World market this week
Deutsche Lufthansa cancelled hundreds more flights on Tuesday as cabin crew launched a second round of that threatens to drag on for weeks and cost Germany's biggest airline tens of millions of euros. The walkout on Friday that left 26,000 passengers stranded.

Treasuries declined, snapping a two-day advance, on speculation that the European Central Bank will announce measures soon to ease the euro region’s three-year debt crisis.

Gold, trading near a five-month high, was seen rising in London as economic reports fuel the case for more central-bank stimulus that will stoke demand for the metal. Euro-area manufacturing shrank more than first estimated in August, a report showed yesterday indicating more inflation will be used to stem the depression in jobgrowth.

China Eastern Airlines the nation’s second-largest carrier by passengers, will increase capacity in the second half by 10 percent as it adds new planes and boosts international services.

The Euro currency rose again making EU products less price competitive.

The European Union’s rating outlook was cut to negative by Moody’s Investors Service, reflecting the negative outlook on the Aaa ratings of Germany, France, the U.K. and the Netherlands that account for about 45 percent of the EU’s budget revenue.

A Spanish town in southern Andalusia, is negotiating with unions to fire the top 13 percent of the 2,000 government workers who comprise 80 percent of its budget. 25% of Spain’s workforce is now jobless and more than two-thirds off the nation’s budget must still be cut.

Emerging markets will continue to suffer unless Obama is given the heave-ho. The American markets are essential to the recovery of the world.
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 market continues to test old resistance levels.  The QE3 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 continuing among American homeowners. 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.
　

Yesterday
ISM Index Aug: The Institute for Supply Management’s factory index fell to 49.6 in August indicating that manufacturing shrank for a third month in August in the longest decline since the recession ended in 2009, threatening to deprive the world of the world’s largest economy of a driver of growth.

Construction Spending Jul fell -0.9% for what is usually the best month for construction.

Today
Sep 5 7:00 AM MBA Mortgage Index 09/01 fell -2.5 percent indicating fewer mortgages and lower future home sales.

Sep 5 8:30 AM Productivity-Rev. Q2

Sep 5 8:30 AM Unit Labor Costs - Rev Q2

This Week
Sep 6 7:30 AM Challenger Job Cuts Aug

Sep 6 8:15 AM ADP Employment Change Aug

Sep 6 8:30 AM Initial Claims 09/01

Sep 6 8:30 AM Continuing Claims 08/25

Sep 6 10:00 AM ISM Services Aug

Sep 6 11:00 AM Crude Inventories 09/01

Sep 7 8:30 AM Nonfarm Payrolls Aug

Sep 7 8:30 AM Nonfarm Private Payrolls Aug

Sep 7 8:30 AM Unemployment Rate Aug

Sep 7 8:30 AM Hourly Earnings Aug

Sep 7 8:30 AM Average Workweek Aug

Market outlook Sept 5, 2012
U.S. stock-index futures retreated as Michael Fuchs, a member of German Chancellor Angela Merkel’s party, said he’s against "excessive" bond purchases by the European Central Bank and commodities slid while the euro weakened on evidence the global economic slowdown is worse than anticipated. Still no buy signals.

There still has been no stock market buy signal. The stock market recently hit old highs and failed to break out. During the 2008 campaign Senator Obama said America was in a depression and Senator Dodd followed that irresponsible claim by causing a run on a California bank that collapsed the bank. Obama likes to say the stock market has risen since he took office but the truth is the market collapsed the most just after his 2008 convention but fell the fastest starting election day. It cratered one month after Obama was sworn in but the stock market collapse correlated with when Wall Street realized they would win the election. The stock market is roughly a six month leading indicator. If the morons look good this week it would mean the market is ready to collapse again in anticipation of a depression of FDR’s length and depth.
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;

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 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 lose.
http://finance.yahoo.com/q/bc?s=%5EVIX&t=2y&l=on&z=l&q=l&c=

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

Stock market update:
Asian markets were down again last night hitting new lows again. China down –0.3%, Hong Kong down –1.5%, India down -0.7, S.Korea down –1.7%, Taiwan down –1.1%, Japan down –1.1%.

European markets are up half way through their day in a range of -0.1% to 0.7%.

American market futures are down at about -0.1% in after-hour trading at 8:30 AM EST. This indicator does not statistically correlate with anything.