America appears to have gone over the socialist cliff. The socialists in America like to look to Europe to ignorantly claim how well socialism is doing. Modern European socialism started in the mid 1800’s and has killed uncountable millions of people… well over an average of 1,000,000 dissident, genocide, and war victims per year for the last 100 years.

 The most successful socialist state, the USSR, lasted only 72 years. So far free Taiwan and communist China have lasted only 63 years. The nations of creeping-socialist Europe have existed only 67 years since the last world war. And socialist Athens, Iceland and others have gone bankrupt and the entire EU with the exception of Germany is on the edge of bankruptcy. And it was the compassionate capitalist free enterprise America that has been the world force for peace for over the past century and the world’s primary innovator because innovators came to America to just have the opportunity to innovate. Communism forces the status quo and they hate the concept of creative destruction. Communism is essentially a national labor union and communism considers competition an evil. And Americans have been made so ignorant now that the vast majority of Americans do not even know that true socialists think competition is a great evil!

How many times has France gone bankrupt and seen its currency disappear and be replaced in the past 100 years? Was it four times, six, or eight times? Has anyone counted? How many times has Europe changed the borders of the socialist world due to wars and genocide? Only American free enterprise democracy lasted as long as 236 years. 

America is a Republic which is a superior form of democracy because it makes it difficult for a tyranny of democracy to take over. The USSR held elections and Adolf Hitler's party democratically rose to power. America is great because it is very hard for a megalomaniac killer to change the constitution and set up their tyranny.

Look now for legalization of recreational drugs as the new idea for raising tax revenue across the socialist world. Of course it is an ancient idea and pushed by socialists. Denmark is already there. It is prevalent across the undeveloped world and just the next step from an indigent voting majority to a spaced out voting majority. When America was created only property owners had a right to vote because that was the definition then for having ownership in government, skin in the game. Under socialism we will see the drift to political power based on a population of dependency on government handouts. Cocaine was legal in America until 1914 when Americans got smarter. Now the socialists are dumbing down America.

We expect Obama will kick the fiscal cliff down the road for four more years as the America slowly sinks into the socialist abyss. Ultimately there will be a rise of National Socialist dictatorships in the world and mass genocide of the "indigents", the sick, the lame, the mentally ill again.  That is how the human race evolved until we created America, a land of opportunity.

World Economies

German factory orders fell the most in a year in September. Adjusted for seasonal swings and inflation, it slumped 3.3 percent from August, when they dropped a revised 0.8 percent.

Russian October inflation rate falls slightly but is still 6.5%.

A United Arab Emirates fuel producer failed to pay almost $1 billion in Islamic debt on maturity last week.

Toender Bank based in southwest Denmark was forced to declare bankruptcy after markets closed on Nov. 2, following an inspection by the Financial Supervisory Authority that revealed bad loans big enough to wipe out the lender’s entire equity.

American Economy
This week past

ISM Services Industry Oct 54.2 down sharply from 55.1

Today
Nov 7 7:00 AM MBA Mortgage Index 11/

Nov 7 10:30 AM Crude Inventories 11/03

Nov 7 3:00 PM Consumer Credit Sep

This week
Nov 8 8:30 AM Initial Claims 11/03

Nov 8 8:30 AM Continuing Claims 10/27

Nov 8 8:30 AM Trade Balance Sep

Nov 9 8:30 AM Export Prices ex-ag. Oct

Nov 9 8:30 AM Import Prices ex-oil Oct

Nov 9 9:55 AM Mich Sentiment Nov

Nov 9 10:00 AM Wholesale Inventories Sep

Market outlook Nov 7, 2012
It is only a matter of time until the socialist world now goes bankrupt. This time any world wars will involve nuclear holocaust. While American free enterprise will now decline significantly and mediocrity will become fashionable, many Americans will be looking for a new free enterprise nation and restricted communities to own and protect with their own police forces. It will take many years for America to die slowly under socialism. But any enclaves of free enterprise in America will eventually be looted and their hated "selfish" inhabitants will be killed the way the Soviet communists went out into the countryside and looted and killed Kulaks and White (western) Russians who tried to be survivalists. The "white" Russians were slaughtered and their bones that keep popping up in the soil are still the first signs of spring in the forests of western Russia. There will be many "Ruby Ridges" in America. To survive, some Americans will need to find distant islands and jungles they can hide in.  That could never happen, right?

Every socialist dictatorship’s first action is to disarm the people and then to create a domestic personal army. Hitler called his domestic army the "SS". They commanded the national army, navy, and airforce. Tyrants always have had domestic armies that protect the tyrant and kill those who resist the dictator.