Apr 25 We now have a pack of fools in power who dismiss the American Founding Fathers as racist old white men and so this administration declared a war on the old white men in America. This government is about as incompetent as their buddies who are leading Russia into an economic depression. Racism seems to be the inspiration behind everything this now infamous American government does. Obviously these socialists lack the brain power to lead the world and let the engine of free enterprise do its work. Instead they are into spying on their citizens, infiltrating and monitoring private computers, raiding dissidents who have small businesses, harassing Christians, and intimidating Americans who believe the Founding Patriots gave the world the first and still the only level economic playing field in the world. On a level playing field only the best win and there are no entitlements for political criminals to violate the Constitution and play their dirty tricks on good citizens.

The American housing market is the slowest it has been in seven months.  The number of Americans buying new homes plummeted in March a sign that real estate's spring buying season has faltered.   The U.S. Commerce Department said Wednesday that in spite of the good weather, sales of new homes declined 14.5 percent in March to a seasonally adjusted annual rate of 384,000, the second straight monthly decline and the lowest rate since July 2013.  These are the same signs that were seen in early 2007 before the Obama-Barney Frank liar loan derivative bubble broke and almost broke the dollar in fixed income investments.  The same problem is happening now in the USA and other major economies around the world.  We can only end the Obama World Depression by voting the “ blame Bush” socialists and their incompetent entitlement government out of office and by turning the American dynamo of free enterprise and individual responsibility back on.  When entitlements supplant personal responsibility and personal initiative as with lazy crazy Obama socialism, impoverishment is the only possible outcome. 

Apr 23  The IRS/Obama reputation is non-existent now since it subjected applications for tax exempt status from Christian organizations, historical societies, and independent political party groups and critics to harassment.  But things have gotten even worse at the IRS now.   Obama had hired 20000 more incompetent and unethical IRS agents to handle Obamascare. The Treasury Inspector General for Tax Administration shows that between Oct. 1, 2010, and Dec. 31, 2012, the IRS paid $2.8 million in bonuses to employees cited in the past year for such things as drug use, making violent threats, fraudulently claiming unemployment benefits, misusing government credit cards and failing to pay their own taxes.  More than 1,100 employees who failed to pay their taxes received discretionary awards of more than $1 million in cash bonuses and more than 10,000 hours in extra paid vacation.

At least five employees received performance awards after being disciplined for intentionally under-reporting their tax liabilities for multiples years, paying taxes late and under-reporting income.

http://onlydailynews.com/bonus-season-at-the-irs-wall-street-journal/

http://www.forbes.com/sites/robertwood/2014/04/23/irs-employees-act-up-dont-pay-taxes-but-still-get-bonuses-irs-gone-wild/

Obama censors are interrupting links of critics but this one still worked on April 30, 2014
http://www.cbn.com/cbnnews/politics/2014/April/IRS-Workers-Owing-Back-Taxes-Awarded-Bonuses
 

Apr 22 

The world draws closer to a worldwide Obama induced depression and the possibility of a dispersed world at war without any free-world leadership to stop aggression this time.  With Obama and Putin still in office and Hilary Clinton, the queen of Benghazi running for US president, the next two years will likely be a worldwide disaster.  Communism will likely spread back into previous territories because Obama is demonstrating to the world that even Obama’s American socialism is no better economically for the world than Putin’s socialism.  Israel will likely make a preemptive strike on Iran to knock out Iran’s nuclear capability.  Pakistan may accidentally nuke India if terrorists succeed in hijacking a weapon.  Even the seaports of America could become targets of terrorist nuclear attacks as Obama/Putin socialism and chaos descends on the world.  Obama will of course blame worldwide depression on… as usual George Bush and capitalism not Obama’s two terms of abject incompetence and stupidity working surreptitiously with Putin. The microphones, just before Obama’s last election, picked up Obama assuring Putin in the White House that Putin would need to wait until after Obama’s election for Obama’s help.

Next, Obama and Putin met secretly in the Kremlin to discuss destabilizing Syria.  And then Putin and Obama began to destabilize the Ukraine.  The chaos of international socialism, communism, is descending with Obama and Putin, from all appearances, working together to destabilize the remaining free enterprise nations.    

 

World markets

Apr 24 China's gross domestic product grew in the first quarter at its slowest pace in 18 months.

https://screen.yahoo.com/china-economy-grows-slowest-rate-141611979.html

 

India’s India's manufacturing output in April expanded at its slowest pace in 17 months.

http://online.wsj.com/news/articles/SB10001424127887324266904578458161354945172

 

Apr 23 The smart money in China is selling developed property as the Chinese property market has softened along with the rest of the country's souring economy. Developers are cutting residential prices in small cities as economists warn of overcapacity. Many leveraged property owners are also facing lower returns, slower demand and intensifying competition in a deepening supply glut with tens of thousands of unoccupied units and higher interest rates.  That is exactly what happened in 2006-2007 as the Obama-Barney Frank- Freddie and Fanny liar loan binge began to tank and started the Great Obama Depression.  Obama bailed out all the liars and Holder continues to sue all the victimized banks for discriminating against liars even now after the crisis.  Basically Obama’s and Holder’s racism froze-up the entire American housing industry because no banks want frivolous and evil government lawsuits which this Obama administration uses as an unconstitutional form of harassment.  S&P called their bluff and will take Obama and Holder to the Supreme Court to stop their racist inspired harassment if necessary. 

 

The Russian economy is sinking into recession again as capital is flowing out of the country due to the overwhelming stupidity of socialist leaders everywhere.  Hedge funds are now suing socialist countries that are refusing to refund money for bonds that were guaranteed by their governments.

Apr 23 Emerging-market stocks fell for a third day after a Chinese manufacturing contracted and concern grew that the crisis in Ukraine is escalating. The yuan touched the weakest level in 16 months.  Brazil’s real declined along with most emerging-market currencies on the report since China is Brazil’s biggest trading partner.

Apr 22  Emerging-market stocks fell for a second day as the Obama-Putin secret agreement plays out and Free State of Ukraine shows signs of collapse.  The Obama-Putin secret Moscow meeting last year is reminiscent of the deal the International and National socialists made in 1939 to divide up Europe.  The Molotov–Ribbentrop Pact was the precursor to the invasion of Poland.

http://en.wikipedia.org/wiki/Timeline_of_the_Molotov%E2%80%93Ribbentrop_Pact

http://www.dailymail.co.uk/news/article-2412063/America-Russia-secret-Syria-talks-Moscow-warns-nuclear-catastrophe.html

http://en.wikipedia.org/wiki/Molotov%E2%80%93Ribbentrop_Pact

 

Moslems continue to butcher Christians in the Sudan and Nigeria while Obama presses policy of calling critics of Moslem Jihad, racists.  Several hundred Christian women were taken by Moslems two weeks ago into the Nigerian jungle and now only raped bodies remain.  South Sudanese rebels seized the city of Bentiu last week killed hundreds of Christians seeking shelter there.  The lack of a moral compass in Washington fosters the rise of chaos and terrorism around the world. 

 

The French market has continued to decline since year 2000. At it most recent highs it is still is still down 50% from 2008 and down 60% from 2000.

 http://in.finance.yahoo.com/q/bc?s=%5EFCHI&t=my&l=on&z=l&q=l&c=

 

 Japan’s stock market appears to have topped and begun a new decline. It has declined since 1990 when it began Quantitative Easing.

http://in.finance.yahoo.com/q/bc?s=%5EN225&t=my

 

 The Swiss market still indicates stagnation since 2007. It has hit the highs of 2003 but could not make it to the highs of 2007. Obama has destroyed Swiss banking by attacking Swiss confidentiality that had protected people from the Hitlers and Stalins of the past. The Obama socialists are trying to legally confiscate everything people earn while lining the pockets of their friends with Ambassadorships and $billions in contracts for inept management of socialized medicine. Look for world economies to soar when the socialists are no longer running America.

 http://finance.yahoo.com/q/bc?s=%5ESSMI&t=my&l=on&z=l&q=l&c=

 

 American Economy

Apr 21

Leading Indicators Mar 0.8% up from 0.5% 

Apr 22

FHFA Housing Price Index Feb 0.6% flat from 0.5%

Existing Home Sales Mar 4.59M flat from 4.60M

The U.S. existing-home sales hit a seasonally adjusted peak July2013 and have fallen in seven of the past eight months. High prices, stringent lending standards, and a rise in borrowing costs have been blamed for the slowdown.  Existing-home sales fell 0.2% from February Sales and were down 7.5% in March from a year earlier at their slowest pace since July 2012.

Apr 23

 MBA Mortgage Index 04/19 -3.3% fell from 4.3% ----

New Home Sales Mar 384K fell from 449K ----

Crude Inventories 04/19 3.524M fell from 10.013M 

Apr 24

Initial Claims 04/19 329K up from 304K ---

Durable Goods -ex transportation Mar 2.0% flat from 0.2%

Apr 25

Michigan Sentiment - Final Apr 84.1 up from 82.6  ++

 

The Markets

Apr 25  So far Quantitative Easing is only being reduced by $10 Billion per month from the original $85 Billion increase per month.  The Quantitative Easing, QE will hit zero this summer and then it becomes a Quantitative Contraction, QC,  until the $1 Trillion plus pile of credit is removed from the Treasury Balance Sheet.  It is possible this administration will decide to leave it on the books because the Great Worldwide Obama depression is already starting.  No new jobs have been created in America since Obama took office and the ranks of the permanently unemployed has risen over 10%.  Unemployment among the young remains above 25%.  And still the stock market is at a QE induced high point.  But QC is about to begin.

 

Two new signs of the stock market topping out occurred this week.  First corporations are deceptively reporting revenue and profits by pretending recurring costs can be ignored as special write-offs instead of showing they actually are making no profits at all.  Boeing is doing it by announcing their pensions didn’t really count, much the way Detroit went bankrupt pretending to be solvent by ignoring their employee pensions.

http://news.medill.northwestern.edu/chicago/news.aspx?id=230048

 

Secondly, uninformed investors have all apparently jumped back into the market at its recent highs signaling the market has topped out and smarter investors have sold out to them.

http://www.bogleheads.org/forum/viewtopic.php?f=10&t=137950&p=2038738

 

http://online.wsj.com/news/articles/SB10001424052702304788404579520152382616262?mg=reno64-wsj&url=http%3A%2F%2Fonline.wsj.com%2Farticle%2FSB10001424052702304788404579520152382616262.html

 

Apr 23  More commentators are beginning to recognize the market top but it usually needs a slow significant contraction to trigger a meltdown.  Every meltdown is different.  The problem is always too much leverage and overvaluation, but the asset class varies.  Who would have know that the Senator Obama-Frank liar loans backed by Fannie and Freddie US mortgage guarantees would be made into leveraged derivatives and were diced and sliced into “tranches” and sold to widows and orphans around the whole world.  That was the cause of the Obama depression that has lasted since 2007.  This depression was pumped up with Bernanke Quantitative Easing that is backed by the full faith and credit of the defaulted Obama-Liar-Loan mortgages.  And Obama to this day says the Liar Loan mortgages were a good thing and he still has Holder sue banks that don’t give loans to eligible people who refuse to disclose their eligibility just to entrap the banks that refuse to loan to them on their “honest” word.  Quantitative easing is what has inflated stock prices and the salaries of corporate executives and is a new bubble entirely.

Apr 22  Leading stock sectors, the very strongest, are being taken down first by amounts usually seen only by the weak companies.  This is not a good sign for what will happen when the selling really begins.  Under communism stocks are worthless because all commerce is run by committees of government hacks.  Many Democrats are beginning to feel betrayed by Obama and there is a growing possibility that a massive electoral rejection of Obama socialism will result in a massive economic recovery if the socialist bums are all thrown out.  Obama’s socialism is no better or worse for an economy than Putin’s International Socialism, called communism.  Obama brings credibility to world communism by destroying the American economy which was under Bush, once the economic engine of the free world. 

 

Look at the last 1+ years of world trade! Use the graph or snapshot option. Unfortunately they do not show back to 2008 when world trade was five times higher than it is today.

 http://www.bloomberg.com/quote/BDIY:IND/chart

 

 Look at the volatility index and you see that the market could fall much faster. This market has little volume or volatility.  So when volume picks up past history says the market will plunge.  This is not a good moment in time for holding equities.

 http://finance.yahoo.com/q/bc?s=%5EVIX&t=5y&l=on&z=l&q=l&c=

 

 World market updates:

http://finance.yahoo.com/intlindices?e=europe

http://finance.yahoo.com/intlindices?e=asia http://in.finance.yahoo.com/intlindices?e=asia