Obama, Pelosi, and Dirty Harry frequently say the American economic system has failed.

Obama, Pelosi, and Dirty Harry frequently say that they think the American economic system of free enterprise and pay for performance has failed.

While in a sense they are correct, it is a failure of America's leftists run education because they never learned that our system has failed quite regularly (every twenty to fifty years). It is called the business cycle and it is punctuated by financial panics. But our system compares well with the Obama's preferred communist system of the old Soviet Union that existed for fifty years in a perpetual state of a great depression. Our cyclic advancing economy compares well with socialist countries that normally have more than 10% unemployment punctuated by the same exact financial panics as our American business cycle. In fact economists have studies that trace this boom and bust cycle throughout all types of economies throughout written history. The Old Testament even talks of the year of Jubilee when after fifty years and an economic bust, all debts were forgiven.

In fact Obama, Pelosi, and Dirty Harry are not the first to say America's economic system was a failure. There were socialists in France such as Jean Jaures who said it and later the moron Karl Marx said it and devised a stable economic system that was no longer boom and bust. His new system took away liberty and created government as the only employer available. It ushered in a new era of stability that unfortunately was fifty years of stable economic bust coupled with the murder of 80 million citizens who remembered that even the limited freedom of feudalism was better than socialism.

What we have now is the result of the breakdown of American courts and educational system caused by the infiltration of leftist racists and perverts who now run the American schools, the Congregational Church, the Unitarians, recently the Episcopalians and the Lutheran ELCA, half the Supreme Court, and now control the Executive and congressional branches of government. They are extremely ignorant people who are well educated in leftist language skills just as every leftist dictator is today. Just look at what they did to Russia, Eastern Europe, and Cuba and are doing now to Venezuela. Both had thriving economies and rich resources. Cuba only existed on the handouts of Russia, George Soros, and American leftists. Chavez in Venezuela is so stupid he has energy shortages even after confiscating all the international oil company properties. These leftists in addition to stupidity are extremely cruel dictators, yet popular politicians who survive on hatred and class warfare. Once they hated just Jews in banking and now they still hate the Jews but also anyone else who manages to accrue wealth, earns more than $250,000 per year, or those who, as small businessmen, provide most new productive occupations. They want government employment and health care because the leftists are generally the most corrupt and evil of politicians. Leftist politics is how one gets ahead under socialism. In Albany New York it has been well known for years that even your garbage pickup is inferior as well as your taxes were higher if you were not registered with the party that has controlled the city for over forty years. Is it any wonder that socialist dictators get upwards of 98% of the democratic vote after they abolish their term limits and change the constitution to give themselves dictatorial power to imprison the opposition? Usually they promise land reform or some other redistribution of wealth from productive people to their constituency of the leftist (i.e. coalition of socialist-state/federal racist employees-pervert-union-lazy-welfare-drug addict-indigent-illegals).

Letting productive people keep some of their money to invest and create new jobs was something 0bama and Pelosi ridiculed when they took office. Those socialist idiots thought the fastest way to get the economy going was to give money to people on welfare, drug-addicts and people of the same race as 0bama. They stimulated so much drug traffic that Mexico may soon have a drug-lord socialist dictator selected by Obama policies.


World Markets:
The world markets continue to follow the US markets. All we need to do is get our free enterprise system freed up from 0bama's hammer and sickle programs following the November elections. European socialists are now buying bank stocks because they favor the new regulations on face value not because they may help recovery. But in America… racist no-money down mortgages are still being given out.

Economic Calendar
We have been seeing manipulated leftist 0bama government statistics again with wide data scatter and swings in corrections as big as the reported changes themselves. Unemployment figures are now fudged lower because elections are coming up. Then the 0bama communists will let them rise quickly after the socialists are thrown out so the leftists can 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.

Leftists are historically corrupt and manufacture useless 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.

Mayor Bloomberg is a leftist leaning Republican disgrace for not having new towers built on the 9-11 site that would dwarf any nearby mosques. Leftists in NYC have delayed the rebuilding for eight years. The disgrace is not the building of a mosque near the 9-11 site but of Bloomberg leaving a 600 feet deep hole as the NYC answer to terrorism instead of a triumphant expression.

Last Friday
Wholesale Inventories July unfortunately increased 1.3% after a small 0.1% increases last month. One does not like increasing inventories because eventually that means production needs to slow down.

Today
Sep 13 2:00 PM Treasury Budget Aug

This week
Sep 14 8:30 AM Retail Sales Aug
Sep 14 8:30 AM Retail Sales ex-auto Aug
Sep 14 10:00 AM Business Inventories Jul

Sep 15 8:30 AM NY Fed - Empire Manufacturing Survey Sep
Sep 15 8:30 AM Export Prices ex-ag. Aug
Sep 15 8:30 AM Import Prices ex-oil Aug
Sep 15 9:15 AM Industrial Production Aug
Sep 15 9:15 AM Capacity Utilization Aug
Sep 15 10:30 AM Crude Inventories 09/11

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

Sep 17 8:30 AM CPI Aug
Sep 17 8:30 AM Core CPI Aug
Sep 17 9:55 AM Mich Sentiment Sep


Market Outlook Sept 13, 2010
An upside breakout would require a surge of the NYSE above 71270. We are now at 70344.

Friday was again low volume but again at least an advance. The hedge funds are starting to realize they killed investor enthusiasm with their greedy high speed trading that manipulated stock prices. They lied and told investors those stop-loss orders would protect them. But the flash crash of May 6 completely wiped out many small investors especially those with any with stop loss orders within margin accounts. But GE/MSNBC/Pravda had lied and is once again even claiming stop loss orders would have protected people in the Flash-Crash.

It is time to get ready to take profits. The socialist community organizers are planning an exceptionally dirty campaign this fall. All those who believe in America's free enterprise system which survived since 1776 will be given the Sarah Palin treatment by the 0bama communists who say, "The economy is in a pickle, time to reconsider the hammer and the sickle."

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.

We would have been out of the recession before now if corporations were hiring and they would be hiring if tax and spend socialism had not been introduced by Community-organizer-in-chief, 0bama. The 0bama deficit is already almost three times what eight years of fending off Moslem terrorists has cost us in Iraq and Afghanistan. And if 0bama lets Iran build the A-bomb and nuke America that probably will cause World War III and end the 0bama depression just like WWII ended Franklin D. Roosevelt's depression.

0bama's leftist government needs to be thrown out in November for the rally to be big. If the socialists maintain even a slight majority it will be impossible to reverse the arrogant unconstitutional redistribution of wealth and 0bamacare because the socialists will claim they have a mandate to continue to destroy American free enterprise and liberty. The dirty propaganda the Nazi used to take control could pale in comparison to what the socialist-democrats have in store this October. FDR created the Great Depression out of the Wall Street panic of 1929. President Reagan handled a Wall Street panic in October of 1987 and it was Greenspan's first test. Unfortunately 0bama and Bernanke can't measure up to Reagan and Greenspan.

World Markets
Asian markets were up sharply last night following the USA. Shanghai up 0.9%, Hong Kong up 1.9%, India up 2.2%, and Japan up 0.9%.

European markets are up following American futures again this morning in a range of about 0.7% to 1.1% about half way through their day.

US pre-market futures are up in the range 0.7% to 1% this morning at 9:00 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 leftist democrat-socialists who are destroying America with racist giveaways to their constituencies (no straight white people need apply).