Government workers need to be kept to a minimum since they are inclined towards treasury looting like the Belle California town employees engaged in.

Government workers need to be kept to a minimum since they are inclined towards treasury looting like the Belle California town employees engaged in.

Historically Americans kept government workers to a minimum since they tend to be inclined towards the treasury looting like the Belle California town employees engaged in.

It is also common practice of socialists in Russia and apparently Hartford Connecticut to shakedown investors with demands for bribes wherever the leftists get control of government. Hartford mayor Perez will now serve his time for corruption.

World Markets:
Cuba will lay off 500,000 government workers not because they want a free economy but because they have no productive people left to loot any more. Socialist countries become impoverished as they run out of productive people to loot and then kill to confiscate their property as they did in the USSR and Germany in the 1930's. The 500 laid off workers will hopefully work hard so that Castro will have a few more people to loot.

China is unique and seems to be making a real attempt to free the intelligence, skill, and work ethic of its productive people… and it makes for 8% growth for the entire nation.

Obama is ignorant in that he knows more about Malaysian and Nigerian history than he knows about the founding principles of America. He shows his stupidity by not even caring to learn about what made America great. Finally he proves he is not even attempting to at least surround himself with capable advisors. He is surrounded with many women, minorities, and pedagogues selected for racial and leftist reasons rather than for knowledge, competence, or accomplishments. He has no advisors who represent people who know how to create growth other than destructive government growth.

Economic Calendar
The leftists say that American Free Enterprise failed after over 200 years of success and we are in a pickle and need to reconsider the hammer and the sickle. How stupid can Obama be? Recessions are not over until unemployment returns to a normal level. The recession is not over unless they want to say we have entered the Obama depression and the current unemployment level is the new normal 10% Obama level. We have had 15 economic panics and 5 depressions all of which we handled but stupid Obama leftists are out saying that without Obama, this last one would have been fatal for the economy. It just illustrates their ignorance and stupidity as they trample on our freedoms.

Friday
Last month we were reported that the Durable Orders figures were manipulated. This month they correct the problem by screwing it up in the opposite direction to fix the problem.
Durable Orders Aug were down 1.4% after being up 0.3% last month.
Durable Orders -ex Transportation Aug were up 2% after being reported down 3.7% last month.

New Home Sales Aug at 288K vs. 276k reported last month. However they manipulated last month up to 288k with this report so that there is no improvement reported. The market ignored this information last Friday.

This week
Sep 28 9:00 AM Case-Shiller 20-city Index Jul
Sep 28 10:00 AM Consumer Confidence Sep
Sep 29 10:30 AM Crude Inventories 09/25
Sep 30 8:30 AM GDP - Third Estimate Q2
Sep 30 8:30 AM GDP - Deflator Q2
Sep 30 8:30 AM Initial Claims 09/25
Sep 30 8:30 AM Continuing Claims 09/18
Sep 30 9:45 AM Chicago PMI Sep
Oct 1 8:30 AM Personal Income Aug
Oct 1 8:30 AM Personal Spending Aug
Oct 1 8:30 AM PCE Prices - Core Aug
Oct 1 9:55 AM U Michigan Consumer Sentiment - Final Sep
Oct 1 10:00 AM Construction Spending Aug
Oct 1 10:00 AM ISM Index Sep
Oct 1 2:00 PM Auto Sales Sep
Oct 1 2:00 PM Truck Sales Sep


Market Outlook Sept 27, 2010
Friday the market rose back to the breakout resistance level. But this rally could go a lot further. Today could be the day because corporate cash is being released for expansion as the elections promise hope that the socialists will be thrown out of office.

Deflation remains the world's greatest threat. So the FED is trying to raise inflation expectations to unleash the cash being held back due to Obama's incoherent tax policies.

Profit taking is still advisable especially in commodities like silver that do not realistically have any probability of increased demand as gold has with possible European currency devaluation's. In fact copper production is rising and with it is the rise in supply of silver which is a by-product.

World Markets
Asian markets were up last night catching up with the Friday advance in the USA. Shanghai was up 1.4%, Hong Kong up 1%, India up 0.4%, and Japan up 1.4%.

European markets are rising this morning in a range of about 0.1% to 0.4% about half way through their day as American futures just begin to rise.

US pre-market futures were up slightly, 0.2% to 0.3% but just rose briefly to be up about 2% this morning at 7:30 AM. Europe may follow.