Obama to institute some sane Bush/McCain economic plans now after his socialism has been a complete failure.

Obama to institute some sane Bush/McCain economic plans now after his socialism has been a complete failure.

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 and people of the same race as 0bama. But the recipients of welfare don't have to take drug tests to get welfare. Working people in private industry do. What happened is that the Mexican drug lords have gotten the full benefit of 0bama flushing over $1 trillion down that toilet bowl. 0bama's political constituency of 1960's hippies and leftist cocaine addicted radicals are the biggest boon to the drug cartels. They are changing state laws and you can fry your brain on marijuana in any town in California today. Stoned California, Pelosi-land now has the country's third highest unemployment rate.

Turkey is beginning to take 0bama's advice and plans to change the Turkish constitution and stack the courts with socialists and give their president more dictatorial powers with a longer term. Sri Lanka just completed their constitutional changes this week and now allows their president to have unlimited terms so he can be a dictator too like Chavez in Venezuela. Socialism penalizes competency and hard work and punishes innovators by taking away their income. Socialists in India want to get rid of big farms and chemical fertilizers to put more people back on subsistence farms. 0bama's socialist ideas show his vast ignorance of the real world. Socialism = economic decline, drugs, racism, and abuse of women. Call it Sharia law, communism or anything else, socialism leads to a dictatorship of leftists who take from competent productive people to fund their political constituency of a leftist coalition of socialist-pervert-union-lazy-indigent-illegals.

Whether an army of terrorists or leftist voters out numbers you does not matter since the vote gives them the right to take what you have (even your life under Sharia law). Majority rule is what Hitler, Stalin, Saddam and every insane dictator used to prove they ran democracies. Under Stalin, all the communist block countries put "Democratic Socialist" on the front of the names. Democratic Socialist is an oxymoron since they were all dictatorships and a democracy of thieves, Gestapo's, and murderers.

Democracy has no value unless the American freedoms and economic liberties of the individual are protected from the lazy and envious rulers who organize communities to rob the public coffers. Corruption is corruption whether it is Eastern of Western, Moslem or Christian, Hussein or Rangel and 0bama. Once the socialists control the US Supreme Court of the United States they will not even have to change the Constitution. They can just replace it and have a majority vote because at that point, nobody in government cares any more. Socialism is social corruption.


World Markets:
The world does not yet have to have an "0bama Depression." Obama is starting to introduce some McCain campaign ideas that will help but do not go far enough. We just have to reverse 0bama's policies so that businesses are not afraid to hire and get locked into some communist commitment to 0bamacare and entitlements to the lazy laid-back leftists. We must repeal Obamacare ASAP. US manufacturing continues to increase adding to a rebound in China manufacturing. In addition, stronger-than-expected economic growth in Australia helped fuel optimism about the global economy. 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.

Economic Calendar
We are 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 our 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.

Crude Inventories 09/04 dropped 2.8M barrels which means oil prices and the economy may be picking up again. That is good news. Gasoline supplies rose putting downward pressure on gasoline prices.
Fed's Beige Book Sep was somewhat optimistic but more important, 0bama is finally going to try to help business hire some Americans. He is going to use Mc Cain's idea to let business write off new investments and he will continue Bush's tax cut for families with less than $250K income. On the down side he should have let business write off spending on marketing and other services too as McCain suggested to employ a lot more people in services. Also clueless 0bama does not understand that most small employers are subchapter "S" and therefore their corporate income is taxed on their personal income tax form. That means that unlike Bush, stupid 0bama will be taxing the small businesses at a higher rate because they are a business being taxed like an individual and that is way too high. Instead he should make individual taxes lower based on how many employees the individual has; i.e. a 250k limit for one employee, 300K limit for two etc. Accepting Tea Party type business advice is good news coming from a socialist moslem like 0bama who will not go near the 600 foot deep 9-11 hole in NYC.

Mayor Bloomberg is another left leaning disgrace for not having new towers built on the 9-11 site that would dwarf any nearby mosques. Leftist in NYC have stopped the rebuilding for eight years. The disgrace is not the building of a mosque but of Bloomberg leaving a 600 feet deep hole as the NYC answer to terrorism.

Consumer Credit in July declined 3.4B after declining about 1.3B last month. It shows that the American saving rate is still high and consumers are cutting up the charge cards of abusive banks that charge more than 20% interest.

Today
Sep 9 8:30 AM Initial Claims 09/04
Sep 9 8:30 AM Continuing Claims 08/28
Sep 9 8:30 AM Trade Balance Jul

This week yet to come
Sep 10 10:00 AM Wholesale Inventories Jul


Market Outlook Sept 9, 2010
Yesterday was again low volume but 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 wiped many small investors out especially any with stop loss orders within margin accounts. The hedge fund manipulators are under investigation now. The funds now almost completely control the market because individual investors have been frightened to the sidelines.

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 had 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 following the USA again last night. Shanghai down 1.4%, Hong Kong up 0.4%, India up 0.7%, and Japan up 0.8%.

European markets are up following American futures again this morning in a range of about 0.4% to 0.8% about half way through their day.

US pre-market futures are up in the range 0.3% to 0.4% this morning at 8:30 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.