Just when the world communists wake up, America elects a dunce like Barack Hussein Obama.

Just when the world communists wake up, America elects a dunce like Barack Hussein Obama.

In 1882 Karl Marx proclaimed that free enterprise was dead (his Communist Manifesto).
In 2009 & 2010 Barack Hussein Obama said socialism was good and proclaimed we should not go back to the failed American free enterprise economics of previous administrations. He said the Tea Party had nothing to offer but the same old failed Free Enterprise economics (of the American Founding Fathers).

Obama is too stupid to read a book and discover that socialism is terrible in the Old World (Greece, Romania, Russia) and in the New World (Mexico, Cuba, Venezuela). American Free Enterprise works even when Communist China experiments with it. Cuba apparently is about to try some American Free Enterprise too. Just when the world communists wake up, America elected a racist dunce like Barack Hussein Obama.


World Markets:
Japan is awakening now to the competition of China. Japan has incredible debt but it is to its own citizens that save more than 15% each year. Therefore Japan's debt is fully secured by the people of Japan. They once precisely controlled their currency. Will Japan do that again or have they stopped saving so much. Will Japan regain confidence and resume its manufacturing prowess? This will play out soon.

The world does not yet have to subscribe to an "0bama Depression" like they did to the socialist FDR Great Depression 1933-1941. We just have to reverse 0bamacare and other socialist policies so that businesses are not afraid to hire or get locked into some new communist entitlement to the lazy laid-back leftists. We must repeal Obamacare ASAP.

Economic Calendar
The leftists say that American Free Enterprise just failed after over 200 years of success and we are in a pickle and need to reconsider the hammer and the sickle. How stupid of Obama not to have learned yet that America and the rest of the free world have major boom-bust cycles every 20 to 50 years (five total since 1776) with panics in between (ten panics without a depression). Leftists are historically corrupt and manufacture invalid statistics primarily for propaganda. They don't understand economics or understand that when they fudge the number higher one month it tends to make the next month lower because it is hard to lie continuously about something like total unemployment or retail sales.

Obama's Budget Deficit for Aug was -$90.5 billion, a slightly smaller deficit than the -$103.6 billion last month.
Retail Sales Aug were solid improving 0.4% as it improved manipulated last month.
Retail Sales ex-auto Aug improved 0.6% up from 0.2% manipulated last month
Business Inventories Jul increased 1% compared with manipulated 0,5% last month

Yesterday NY Fed - Empire Manufacturing Survey Sep was down to 4.1 (sill positive growth) from 7.1 (better) last month.
Export Prices ex-ag. Aug were up 0.5% which is better than the disinflationary -0.2% last month.
Import Prices ex-oil Aug were up 0.3% which is better than the disinflationary -0.3% last month.
Industrial Production Aug improved 0.2% but much less than the manipulated reported 0.8% improvement last month.
Capacity Utilization Aug decreased to 74.7% last month from the downward manipulated reported 74.6% last month.
Crude Inventories 09/11 dropped 2.5M on top of the 1.9M decline last month. Prices are stable.

Today
Sep 16 8:30 AM Initial Claims 09/11
Sep 16 8:30 AM Continuing Claims 09/4
Sep 16 8:30 AM PPI Aug
Sep 16 8:30 AM Core PPI Aug
Sep 16 8:30 AM Current Account Q2
Sep 16 9:00 AM Net long-term TIC Flows Jun -
Sep 16 10:00 AM Philadelphia Fed Sep

This week
Sep 17 8:30 AM CPI Aug
Sep 17 8:30 AM Core CPI Aug
Sep 17 9:55 AM Michigan Sentiment Sep


Market Outlook Sept 16, 2010
An upside breakout would require a surge of the NYSE above 7127. We are now at 7180 but we still need a surge for it to be a breakout and we need a volume pickup. Yesterday volume was still well below the 100 day moving average.

Gold and silver are at highs and should be sold at these levels. It is time to take profits or snitzel, as Jim Cramer would say. Cramer is extremely bullish now and that is a bearish sign.

The moronic 0bama communists say, "The economy is in a pickle, time to reconsider the hammer and the sickle." They will smear all those who believe in America's free enterprise system, which survived 15 panics and 5 financial meltdowns since 1776.

But even when they are thrown out of office the lame duck leftists will still be able to pass an extreme leftist agenda and leave a legal morass for the new inexperienced Congress to unravel. The market will be very volatile until the end of January and investors should have good opportunities to get out and back in over the next four months.

Obama is a flaming racist! Members of Obama's race are still able to get zero down mortgages for houses they cannot afford. Obama now wants to bail out all the people of his race who got houses with 0% down mortgages and no established credit record. That makes American's mad and they are not going to take it any more.

World Markets
Asian markets were up last night following the USA. Shanghai down -1.9%, Hong Kong down -0.2%, India down -0.4%, and Japan down -0.1%.

European markets are down following American futures again this morning in a range of about -0.1% to -0.4% about half way through their day.

US pre-market futures are down slightly in the range -0.1% to -0.3% this morning at 8:00 AM.

The only thing we have to fear is fear itself, which now consists of 0bama, Gore, Bogoyevitch, Barney, Rangel, Waters and the other corrupt moron leftist democrat-socialists who are destroying America with racist giveaways to their voting constituencies. 0bama, the racist, wants every person of his race to get a no-money-down house and then tax working Americans to bail them out and forgive their debts.

It is time to kick Obama's ASS (American Socialist State) out of office.