Popularly elected Arizona Sheriff Joe Arpaio says the Obama administration is harassing him

Popularly elected Arizona Sheriff Joe Arpaio says the Obama administration is harassing him


People who lack a work ethic tend to live in places where they don't have to do much work for shelter or to keep from freezing in the winter. They don't like the cold where the lazy could freeze to death. They only migrate to colder climates when there are liberal/progressive dominated Christian countries willing to furnish them with food and shelter and an unearned income. This is the primary reason for the immigration problems in the USA and Western Europe. You don't see them migrating to communist countries or theocratic Moslem states. Americans do not owe socialist-liberal/progressive-union-lazy-racist state/federal government workers, indigents, and perverts a life. They need to create a life of their own. Only by ousting the liberal/progressive democrat-socialists do we end the flow of people who come and end up on welfare or worse yet as a state or federal employee who is a racist that hates people who have a work ethic. For instance this year a racist in the Dept of Agriculture admitted she discriminated against all white farmers but no longer discriminates against poor white farmers… just competent white farmers who seem successful. They fired her prematurely for that and then gave her a golden parachute because she said she did not discriminate against any poor farmers even if they are white. Is this Obama's definition of colorblind?

World Markets:
US manufacturing increased 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 again.

Economic Calendar
We are seeing manipulated leftist Obama government statistics again with wide data scatter and swing in corrections as big as the reported changes themselves. Leftists are historically corrupt and manufacture useless statistics primarily for propaganda. They don't understand economics or understand the 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.

So far this week:
Personal Income Jul increased 0.2% after no improvement the last month
Personal Spending Jul increased 0.4% after no change last month
PCE Prices - Core Jul prices increased 0.1% which is also good as it is not deflation.
All good news but market was down 1.4%
Case-Shiller 20-city house price Index Jun rose 4.2% after rising 4.6% in April… good news. It is believed prices have since weakened. Prices had declined as much as 32% and are now down 28% from their peak.
Chicago PMI Aug declined to 57 from 63 still in positive territory for manufacturing… good news
Consumer Confidence in Aug rose to 53.5 from 50.4 in July… good news.
Minutes of FOMC Meeting 08/10 indicated a higher risk of Japanese type deflation so they bought more worthless bank assets which is equivalent to printing more money to re-inflate.

ADP Employment Change Aug, Employers cut 10,000 jobs in August after adding 37,000 in July. Separately, planned job cuts hit 10-year low in August, as employers shed 34,768, down 17% from the previous month.
Construction Spending Jul, the Institute for Supply Management's (ISM) Index Aug unexpected rise in U.S. manufacturing activity to 56.3 from 55.5 added to earlier optimism over China's strong manufacturing report. Economists were expecting the index to ease. Any number above 50 indicates growth in the sector.
Crude Inventories 08/28 dropped slightly to 3.4M from 4.1M
Auto Sales Aug slumped as the clunker incentive expired. Ford was down 11% in sales from last year. GM took the biggest hit of 24% where you could virtually turn in your riding lawn mower to "Uncle Sap" no questions asked for the discount since the socialist own the company.
Truck Sales Aug were down but Ford continues to gain in market share. Sales are up 27% so far this year.

Yesterday
Sep 2 8:30 AM Initial Claims 08/28 were reported at 472k vs. an adjusted 478k last week after an initial report of 475k. Note that if they had not added 3k to last week then this week would likely be 3k higher and no improvement at all.
Sep 2 8:30 AM Continuing Claims 08/21 dropped to 4456K after a higher Obama revised 4479K for last month. Note if they did not inflate last month's figures after they were reported as 4456K this month would not look very good.
Sep 2 8:30 AM Productivity-Rev. Q2 is now -1.9% vs. - 0.9% showing Obama is not getting the productivity increases that all the presidents starting with Reagan got by dropping taxes during their recessions. Obama instead decided to give away $3Trillion to welfare and unemployed running up a larger deficit in 18 months than Bush did with his six years of war against Al Quaeda.
Sep 2 8:30 AM Unit Labor Costs Q2 increased 1.1% revised up from 0.2% first reported. That is consistent with declining productivity under socialist Obama. In most past US recessions the free market productivity improved. Obama is bent on creating a welfare state and they must be thrown out and have their policies reversed.
Sep 2 10:00 AM Factory Orders Jul improved 0.1% after declining -0.6% the previous month. That is good but seasonal
Sep 2 10:00 AM Pending Home Sales Jul improved 5.2% after declining -2.8% last month. Stabilizing housing is critical to ending this recession. Obama and Barney Frank were in favor of letting people who wanted a house get one regardless of whether they had any money. But apparently white homeowners just like white farmers are discriminated against by the racists who get affirmative federal employment based on race not competence. Affirmative action leads to incompetence, racism, and waste in state and federal governments. It is much harder to get away with Obama type racism in local governments. The Obama socialist government is trying to destroy Sheriff Joe Arpaio of Arizona. The Obama administration let the racist militant thugs who in 2008 threatened white poll workers go free. After all they did it to help Obama get a mandate to destroy America but Sheriff Joe Arpaio is on the other hand trying to help America. Popularly elected Sheriff Joe Arpaio says since Obama opposes his law enforcement, Joe will no longer enforce federal laws since state law already gives him the same authority to crack down on the killings, kidnappings and drug cartel expansion from Mexico into the USA.

Today
This week yet to come
Sep 3 8:30 AM Nonfarm Payrolls Aug
Sep 3 8:30 AM Nonfarm Payrolls - Private Aug
Sep 3 8:30 AM Unemployment Rate Aug
Sep 3 8:30 AM Hourly Earnings Aug
Sep 3 8:30 AM Average Workweek Aug
Sep 3 10:00 AM ISM Services Aug


Market Outlook Sept 3, 2010
The market rose yesterday but this is a holiday weekend so we do not expect much volume in trading today.

This leftist government must 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 obamacare because the socialists will claim they have a mandate to continue to destroy American free enterprise and liberty.

World Markets
Asian markets were up following the USA again last night. Shanghai unchanged, Hong Kong up 0.5%, India unchanged, and Japan up 0.6%.

European markets are up waiting for the USA markets to open, in a range of about 0.3% to 0.4% this morning about half way through their day.

US pre-market futures are flat in the range -0.1% to +0.1% this morning at 8:00 Am.

The only thing we have to fear is fear itself, which now consists of Obama, Gore, Bogoyevitch, Barney, Rangel, Waters and the other crooked leftist democrat-socialists.