Squawk Box has been frequently censoring some of commentators the last two days by cutting the microphones when they say anything considered too critical of Obama. Apparently MSNBC/Pravda has become too reactionary. This is the first censorship the USA has ever seen in over 50 years. Dick Morris, former advisor to President Clinton, yesterday warned that America and especially the Democrats couldn’t afford four more years of Obama. He said, “After eight years of Obama, Democrats would not be able to get elected for 100 years.”

http://www.inquisitr.com/322412/monica-lewinskys-former-rabbi-at-democratic-national-convention-after-bill-clintons-speech/

http://www.digitaljournal.com/article/332238

Obama likes to say the stock market has risen since he took office but the truth is the market collapsed right after his 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 market anticipated Obama and reflected the transition from Bush to Obama. 
http://www.theblaze.com/stories/forward-for-communism-is-obamas-new-forward-slogan-really-a-coincidence/

The Democrat Convention fear and smear politics are revealing. Corruption is why privacy is so important to preserve American liberty. Privacy protects honest Americans from Socialist goons who audit and 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 Democrats are calling for forcing government employee unions and Communist organizations to reveal their contributions to Obama. But the socialists demand that the captains of American industry should reveal their contributions because the socialists hate the Americans who are honest and "too" successful. The socialist morons 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

Tuesday Squawk Box was cutting the microphone on Joe, their moderate MIT graduate commentator. 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 and hike 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 on the 50% who already pay all the taxes to pay for 30,000 more IRS agents to monitor Americans who actually work for a living and pay taxes.

Again, some one needs to tell socialist that using taxpayer funds to help smear opponents and to gain votes 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 leftist press. Carried interest, the practice being investigated, is the biggest loophole Warren Buffet uses but he is not under investigation because he only contributed to the Democratic Party. No companies involving active Democrats are to be investigated. Previous investigations of the practice said they were legal.

Four years ago, Barrack Obama pledged to promote a green revolution, saying the government would back alternative-energy technologies that could create 5 million jobs and free the U.S. from a dependence on overseas oil tyrants. Yet our transformation -- driven by fracking -- isn’t green. Green means immature, inexperienced, sour, untrained, naive, callow, unsophisticated, gullible, wet behind the ears, and simplistic. Fracking has no connection to the president’s plans.  But because Ohio is a swing state that Obama needs, Obama has made it easier to frack in Ohio and Bloomberg ran headlines this week, "Ohio’s Gas-Fracking Boom Seen Aiding Obama in Swing State." The Sierra Club supports Obama who has frozen all oil, gas, coal, and nuclear investment on government lands and on the continental shelf.
http://content.sierraclub.org/naturalgas/

Planned US job cuts decreased 37 percent from this month last year to 32,239, according to figures released today by Chicago-based Challenger, Gray & Christmas Inc. It was the fewest for any month since December 2010.

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
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

European Central Bank President Mario Draghi said the ECB will bid on Spanish, Greek, and other bond sales to drive interest rates down and allow socialists to be able to afford greater debt than ever before.

The European Union threatened to impose tariffs on solar panels from China in the biggest EU trade dispute of its kind, saying producers in Europe may be victims of unfair price undercutting.

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. If the "American Anti-Moron" backlash wins the election or just shows evidence it will win, then stocks will soar in America and unemployment will begin to tumble down.

The Obama 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 like Obama is doing to future American children. 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.

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.

Yesterday
MBA Mortgage Index 09/01 fell -2.5 percent indicating fewer mortgages and lower future home sales.

Productivity Q2 2.2% up from 1.6% last month

Unit Labor Costs - Rev Q2 1.5% revised down from previously reported 1.7% improvement

Today
Challenger Job Cuts Aug -36.9% down from -44.5% last month

ADP Employment Change Aug 201K improved from 173K

Initial Claims 09/01 365K improved from 374K

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

This Week
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 6, 2012
U.S. stock-index futures rose 0.4% today as the EU indicated that the EU will use the QE Ponzi scheme that put Japan into a continuous recession and a bear stock market for the past twenty years and has Japan’s debt approaching 180% of their GDP. The US will catch up to Japan in less than 10 years. Jim Cramer said that means that the stock markets will break out on the up side in America. We on the other hand do not see the QE2 Ponzi scheme any less addictive than cocaine.

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 the morons held their 2008 convention but fell the fastest starting election day when the morons were elected. It cratered one month after Obama was sworn in but the stock market collapse correlated with when Wall Street realized the morons would win the election. The stock market is roughly a six month leading indicator but the morons don’t know that either. 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 up last night. China up 0.7%, Hong Kong up 0.3%, India up 0.2, S.Korea up 0.4%, Taiwan down –0.6%, Japan up 0%.

European markets are up half way through their day in a range of 0.1% to 1.5%.

American market futures are up at about 0.4% in after-hour trading at 8:30 AM EST. This indicator does not statistically correlate with anything.