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).
Monday, September 13, 2010
Friday, September 10, 2010
Obama knew his stimulus package would feed the drug war insurgency in Mexico.
Obama knew his stimulus package would feed the drug war insurgency in Mexico.
Do you remember when Obama socialists said tax cuts only help the rich? Well as a result we are losing jobs right now at a net $20million jobs per year and now he agrees tax cut are a good idea and he is going to have tax cuts which he claims don't help the rich but help small businesses.
Do you remember though that he said anyone making more than $250,000 per year will not get a tax break? Well Obama is too stupid to think before he speaks and is about to discover that the small businessmen are the ones making $250,000 to $500,000 a year because they are most of the Subchapter-S tax filers who are so small they file their business income on their personal tax form so their personal income is a lot higher but they avoid the double taxation Obama would force them to pay if they were taxed first with a corporation tax and again with their personal income tax. You see Obama is too ignorant to know how his tax policy either double taxes small businessmen or forces them to report all corporate income on their personal tax forms. Therefore the 0bama limit of $250,000 inhibits all the small businessmen who would be hiring now because they could end up with a cash flow problem and bankruptcy.
Do you remember when Obama socialists said that Bush's strong Mexican border control was a waste of time because American demand for drugs was what was making the drug lords rich and we should drop our border defense. Well now Obama and Hillary misjudgments have made the drug lords so powerful that yesterday they said that we have created a left wing Bolivian type insurgency in Mexico. Remember how they said by giving the $trillions to their political constituency of a leftist coalition of socialist-state/federal racist employees-pervert-union-lazy-welfare-drug addict-indigent-illegals would get the cash into the economy the fastest? Well Obama obviously passed all the American taxpayers money to the drug cartels which are flourishing under Obama border policies.
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. But the recipients of welfare don't have to take drug tests to get welfare. Working people in private industry do have to be drug-free. What happened is that the Mexican drug lords have gotten the full benefit of 0bama flushing over $1trillion 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. The Obama leftists 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.
World Markets:
The WSJ this morning said Japan just woke up to what we have been saying for a year. When China buys Japan's currency, China destroys Japan's competitiveness by making Japanese products more expensive. Furthermore it also is like giving Japan crack-cocaine. The crack-cash infusions from china allow Japan to spend recklessly to weaken their currency. The 0bama administration is already addicted to China's crack-cash infusions and it is destroying American competitiveness by keeping American product prices high and unemployment high. The 0bama administration economic advisors are too stupid to know this and they are acting like their addicted/stupid constituents who don't have two nickels to rub together because they chose to live beyond their means and usually chose recreational drugs as well. Any political organization that promotes legalization of drugs is brain-dead and obviously ignorant of the fact that drugs were legal throughout the world for centuries and in America until 1914. They turn strong healthy brilliant people into sniveling cockroaches just like Buckley was when he became an advocate for cocaine legalization.
Americans and Chinese have an amicable relationship on a people to people level. We have never attacked each other… in fact America helped China defeat the Japanese and China helped many American soldiers who had to parachute into china during WWII to avoid capture by the Japanese. Many American and Chinese schools now have student exchange programs. Unfortunately drugs and China's crack-cash infusions are now becoming the world's greatest economic threats. If China uses them and then wages war, China and much of the world will cease to exist. The Chinese people seem wise enough to realize that secret intelligent technology already exists far beyond their imagination. War is no longer an option and China stands the most to loose if the world defaults or inflation wipes out all their investments in sovereign treasuries. China needs to think through the destabilizing effects of loaning money to anyone… even their own children. Giving money this way especially to a dangerously ignorant leftist 0bama government could allow Obama to destabilize the world. Today, members of Obama's race still get no-money down government guaranteed mortgages even though the majority still default and such racist Obama policies are identical to the ones Rangle and Dodd had when they destroyed the world banking system in 2007-2008. We don't even know for sure that Obama is an American. He cannot produce a copy of an original birth certificate and is afraid to have his college records released because he was a foreign student.
The world does not yet have to have an "0bama Depression." 0bama is starting to introduce some McCain campaign ideas that will help but not go far enough. We just have to reverse 0bamacare and other policies so that businesses are not afraid to hire and get locked into some new communist entitlement to the lazy laid-back leftists. We must repeal Obamacare ASAP. US manufacturing continues to increase adding to a rebound in China manufacturing. China is now growing at a more sustainable rate. 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 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.
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 a left 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.
Consumer Credit in July declined 3.4B after declining about 1.3B last month. It shows that the American savings rate is still high and consumers are cutting up the charge cards of abusive banks that charge more than 20% interest.
Initial Claims 09/04 declined to 451K from 478k still increasing unemployment at a rate of over 20 million people per year.
Continuing Claims 08/28 at 4478K down slightly from 4480K last time
Trade Balance July was -42.8 improved from the -49.8 last month
Today
Sep 10 10:00 AM Wholesale Inventories Jul
Market Outlook Sept 10, 2010
An upside breakout would require a surge of the NYSE above 71270. We are now at 70344.
Yesterday 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 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. Volatility will be large. Market manipulation with these low volumes is easy. Options traders are siphoning off more money than ever and seem to have the leverage to manipulate stocks over the short term, which is all that is, needed to drive investors out of the stock market completely.
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 up 0.3%, Hong Kong up 0.4%, India closed, and Japan up 1.6%.
European markets are flat following American futures again this morning in a range of about 0% to 0.3% about half way through their day.
US pre-market futures are up slightly in the range 0.2% to 0.3% 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 who are destroying America.
Do you remember when Obama socialists said tax cuts only help the rich? Well as a result we are losing jobs right now at a net $20million jobs per year and now he agrees tax cut are a good idea and he is going to have tax cuts which he claims don't help the rich but help small businesses.
Do you remember though that he said anyone making more than $250,000 per year will not get a tax break? Well Obama is too stupid to think before he speaks and is about to discover that the small businessmen are the ones making $250,000 to $500,000 a year because they are most of the Subchapter-S tax filers who are so small they file their business income on their personal tax form so their personal income is a lot higher but they avoid the double taxation Obama would force them to pay if they were taxed first with a corporation tax and again with their personal income tax. You see Obama is too ignorant to know how his tax policy either double taxes small businessmen or forces them to report all corporate income on their personal tax forms. Therefore the 0bama limit of $250,000 inhibits all the small businessmen who would be hiring now because they could end up with a cash flow problem and bankruptcy.
Do you remember when Obama socialists said that Bush's strong Mexican border control was a waste of time because American demand for drugs was what was making the drug lords rich and we should drop our border defense. Well now Obama and Hillary misjudgments have made the drug lords so powerful that yesterday they said that we have created a left wing Bolivian type insurgency in Mexico. Remember how they said by giving the $trillions to their political constituency of a leftist coalition of socialist-state/federal racist employees-pervert-union-lazy-welfare-drug addict-indigent-illegals would get the cash into the economy the fastest? Well Obama obviously passed all the American taxpayers money to the drug cartels which are flourishing under Obama border policies.
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. But the recipients of welfare don't have to take drug tests to get welfare. Working people in private industry do have to be drug-free. What happened is that the Mexican drug lords have gotten the full benefit of 0bama flushing over $1trillion 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. The Obama leftists 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.
World Markets:
The WSJ this morning said Japan just woke up to what we have been saying for a year. When China buys Japan's currency, China destroys Japan's competitiveness by making Japanese products more expensive. Furthermore it also is like giving Japan crack-cocaine. The crack-cash infusions from china allow Japan to spend recklessly to weaken their currency. The 0bama administration is already addicted to China's crack-cash infusions and it is destroying American competitiveness by keeping American product prices high and unemployment high. The 0bama administration economic advisors are too stupid to know this and they are acting like their addicted/stupid constituents who don't have two nickels to rub together because they chose to live beyond their means and usually chose recreational drugs as well. Any political organization that promotes legalization of drugs is brain-dead and obviously ignorant of the fact that drugs were legal throughout the world for centuries and in America until 1914. They turn strong healthy brilliant people into sniveling cockroaches just like Buckley was when he became an advocate for cocaine legalization.
Americans and Chinese have an amicable relationship on a people to people level. We have never attacked each other… in fact America helped China defeat the Japanese and China helped many American soldiers who had to parachute into china during WWII to avoid capture by the Japanese. Many American and Chinese schools now have student exchange programs. Unfortunately drugs and China's crack-cash infusions are now becoming the world's greatest economic threats. If China uses them and then wages war, China and much of the world will cease to exist. The Chinese people seem wise enough to realize that secret intelligent technology already exists far beyond their imagination. War is no longer an option and China stands the most to loose if the world defaults or inflation wipes out all their investments in sovereign treasuries. China needs to think through the destabilizing effects of loaning money to anyone… even their own children. Giving money this way especially to a dangerously ignorant leftist 0bama government could allow Obama to destabilize the world. Today, members of Obama's race still get no-money down government guaranteed mortgages even though the majority still default and such racist Obama policies are identical to the ones Rangle and Dodd had when they destroyed the world banking system in 2007-2008. We don't even know for sure that Obama is an American. He cannot produce a copy of an original birth certificate and is afraid to have his college records released because he was a foreign student.
The world does not yet have to have an "0bama Depression." 0bama is starting to introduce some McCain campaign ideas that will help but not go far enough. We just have to reverse 0bamacare and other policies so that businesses are not afraid to hire and get locked into some new communist entitlement to the lazy laid-back leftists. We must repeal Obamacare ASAP. US manufacturing continues to increase adding to a rebound in China manufacturing. China is now growing at a more sustainable rate. 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 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.
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 a left 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.
Consumer Credit in July declined 3.4B after declining about 1.3B last month. It shows that the American savings rate is still high and consumers are cutting up the charge cards of abusive banks that charge more than 20% interest.
Initial Claims 09/04 declined to 451K from 478k still increasing unemployment at a rate of over 20 million people per year.
Continuing Claims 08/28 at 4478K down slightly from 4480K last time
Trade Balance July was -42.8 improved from the -49.8 last month
Today
Sep 10 10:00 AM Wholesale Inventories Jul
Market Outlook Sept 10, 2010
An upside breakout would require a surge of the NYSE above 71270. We are now at 70344.
Yesterday 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 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. Volatility will be large. Market manipulation with these low volumes is easy. Options traders are siphoning off more money than ever and seem to have the leverage to manipulate stocks over the short term, which is all that is, needed to drive investors out of the stock market completely.
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 up 0.3%, Hong Kong up 0.4%, India closed, and Japan up 1.6%.
European markets are flat following American futures again this morning in a range of about 0% to 0.3% about half way through their day.
US pre-market futures are up slightly in the range 0.2% to 0.3% 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 who are destroying America.
Thursday, September 9, 2010
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.
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.
Wednesday, September 8, 2010
It is becoming obvious that Moslem Terrorists take cues from 0bama.
It is becoming obvious that Moslem Terrorists take cues from 0bama.
The terrorists who hate western liberties for which Americans thank the Founding Fathers... have apparently gotten the clear message from 0bama to bide their time until he withdraws the troops and then they can have their Sharia law and kill all the Christians, Buddhists, and other infidels who dare stay behind. Everything is working according to plan. Kill a few American soldiers from time to time but nothing organized until the withdrawal. 0bama can then apologize to them and shame America with his tail between his legs once again as America's Community Organizer in Chief. It is unlikely that the Moslems will have any real government until the infidels are all gone.
A socialist-democrat New York legislative aid just told us that she had a $60,000 silicon solar array installed on her little house as part of the 0bama stimulation package and the cost to her was only $10,000. As you probably know the energy consumed in manufacturing that premature technology is almost equal to the energy it produces over its immature 10-year life in frigid upstate New York before its first major overhaul. But if that is not bad enough, It will be covered with an average of 24 inches of snow all winter and since it is so far north and the angle of the sun is so low it will be less than 50% of design performance most of the time. $60,000/10yrs = $6000 cost per year or $500 per month. That is much more than the cost of an all electric house. That is an example of what 0bama's "green dream" is producing. As far as road infrastructure is concerned, they have been the targets of leftist demonstrations that have basically shut down road construction since the 1970's. 0bama road infrastructure investment is a big lie.
Did you know that 0bama is spelled with a "zero" in front not with the letter "O". He does that because real American workers provide the numbers and the democrat-socialist leftists provide all the zeros paid in taxes. So remember to spell it 0bama not Obama.
Governor Rell of the socialist state of Connecticut announced yesterday that the pensions of state workers would be limited henceforth to a maximum of $100,000 per year until the 0bama depression ends. Fortunately for the unions, fewer than half the unionized CT state workers will be affected. The unions run the democrat-socialists and see to it that all state labor arbitrators are pro-union leftists. Then when teachers and state workers demand higher benefits the arbitrator's side with the unions and the taxpayers foot the bill. In Connecticut the rich leftists all invest in the municipal bonds and high dividend stocks because municipal bonds and dividends are not taxed in CT. Also the richest leftists commute to work in New York City so they got rid of all the tolls in Connecticut even though with Eazypass that would not slow them down. That leaves the non-leftist working middle class to pay the entire state tax bill. That is why the rich are the biggest leftists in the world. They are leftists takers because there is no such thing as a leftist giver unless it is your money they are giving away. Do you think 0bama pays more in taxes than he skims off for himself and his wife? Here is Ms. 0bama's most recent letter of thanks to the little American people who keep the corrupt fat leftists in power. It comes after their fifth vacation so far this year.
Dear readers,
Now for the second time, I am not ashamed of my country. I want to thank the hard working little American people for paying $242,000 plus Airforce expenses for my recent vacation in Spain . My family, several long-time family friends, my personal staff and various guests had a wonderful time. Honestly, you just haven't lived until you have stayed in a $2,500 per night suite at a 5-Star luxury hotel. We booked 70 rooms for our friends, staff and family. Thank you also for the use of Air Force 2 and the 70 Secret Service personnel who tagged along to be sure we were safe and cared for at all times.
Air Force 2 only used 47,500 gallons of jet fuel for this trip and carbon emissions were a mere 1,031 tons of CO2. It costs only $11,500 per hour to operate Air Force 2 and each additional plane for the other members of our party-time group. These are only rough estimates, but who's counting, right? That's quite a carbon footprint as my good friend Al Gore would say, so we kindly ask you American little people to drive smaller, more fuel efficient cars and drive less too, so we can all work together to lessen our combined carbon footprint.
Unfortunately we are very tired now and busy next week and will not be able to visit NYC to pay respect to the 3000+ people who died on 9-11. But do not fret our absence because we were just there in NYC recently to celebrate "Party" Weekend. We decided to cut back on travel because we know times are hard and millions of you are struggling to put food on the table and trying to make ends meet. I do appreciate your sacrifice and do hope you find work soon. I was really exhausted after Barack took our family on our luxury vacation in Maine a few weeks ago so I sincerely can feel your pain.
Cordially,
M. 0bama
PS: I will write you more from Martha's Vineyard where we will spend our sixth vacation this year with more of our family and friends. I know how much you enjoy seeing your "First Family" living it up because we are so smart and photogenic. Don't you just love my big "0bama".
The average Federal employee takes home $160,000 per year. You see, under socialism and communism you have to be part of the ruling party or you don't count for anything. Workers in private companies are mere drones working to support the benevolent and all-powerful government. And people are obviously so happy under Leftist Communism and Moslem theocracies that the elected officials typically get 90% to 99% majority votes. Yes, even Hitler himself was freely elected by majority vote. And since Hitler was even smarter than 0bama he decided future elections would just be a waste of people's time after he changed the German Constitution. Chavez recently did the same in Venezuela. At college (on a foreign student grant)0bama wrote that the American Constitution needs to be changed because it is too negative when it comes to government powers.
The freed Moslem fruit cakes intend not to form democratic governments in Iraq or Afghanistan because they fear that a western type democracy legitimizes western aggression against lunatics like Sadam Hussein and the psychotic Tallibomber Imams. That was 0bama's advice to them when he met in secret. 0bama intends to withdraw and then apologize and say Americans were the aggressors and should never have set their dirty infidel feet on sacred Musselmen lands.
Whether you are out numbered by an army of terrorists or voters does not matter if the vote gives them the right to take what you have (even your life under Moslem rule). Majority rule is what Hitler, Stalin, Saddam and every insane dictator used to prove they ran democracies. Under Stalin, all the communist block put "Democratic Socialist" on the front of the names of their countries.
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.
World Markets:
The world does not have to have an "0bama Depression." 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. 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.
Friday
Nonfarm Payrolls Aug down -54K but not as bad as July down -131.
Nonfarm Payrolls - Private Aug up 67K but not quite as good as July's +71K
Unemployment Rate Aug up a phony 9.6% from 0bama's phony 9.5% last month. Communists always report lies. There is no way so many people are losing jobs and the unemployment rate is hardly increasing.
Hourly Earnings Aug up 0.3% which is slightly better than July's 0.2% and not a sign of deflation.
Average Workweek Aug unchanged at 34.2 hours
ISM Services Aug at 51.5 a decline from July's 54.3
Today
Sep 8 10:30 AM Crude Inventories 09/04
Sep 8 2:00 PM Fed's Beige Book Sep
Sep 8 3:00 PM Consumer Credit Jul
This week yet to come
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
Sep 10 10:00 AM Wholesale Inventories Jul
Market Outlook Sept 8, 2010
Yesterday was actually a great day for the market because the volume was so low it shows that the market makers and hedge funds now have complete responsibility for the direction of the market. It will take very little volume for the market to surge now.
The market rallied last week but 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 they will be able to still 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 by 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 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 down following the USA again last night. Shanghai up 0.1%, Hong Kong down -1.5%, India up 0.1%, and Japan down -2.2%.
European markets are up following American futures again this morning in a range of about 0.1% to 0.6% about half way through their day.
US pre-market futures are up in the range 0.2% to 0.5% this morning at 9 Am.
The only thing we have to fear is fear itself, which now consists of 0bama, Gore, Bogoyevitch, Barney, Rangel, Waters and the other crooked leftist democrat-socialists.
The terrorists who hate western liberties for which Americans thank the Founding Fathers... have apparently gotten the clear message from 0bama to bide their time until he withdraws the troops and then they can have their Sharia law and kill all the Christians, Buddhists, and other infidels who dare stay behind. Everything is working according to plan. Kill a few American soldiers from time to time but nothing organized until the withdrawal. 0bama can then apologize to them and shame America with his tail between his legs once again as America's Community Organizer in Chief. It is unlikely that the Moslems will have any real government until the infidels are all gone.
A socialist-democrat New York legislative aid just told us that she had a $60,000 silicon solar array installed on her little house as part of the 0bama stimulation package and the cost to her was only $10,000. As you probably know the energy consumed in manufacturing that premature technology is almost equal to the energy it produces over its immature 10-year life in frigid upstate New York before its first major overhaul. But if that is not bad enough, It will be covered with an average of 24 inches of snow all winter and since it is so far north and the angle of the sun is so low it will be less than 50% of design performance most of the time. $60,000/10yrs = $6000 cost per year or $500 per month. That is much more than the cost of an all electric house. That is an example of what 0bama's "green dream" is producing. As far as road infrastructure is concerned, they have been the targets of leftist demonstrations that have basically shut down road construction since the 1970's. 0bama road infrastructure investment is a big lie.
Did you know that 0bama is spelled with a "zero" in front not with the letter "O". He does that because real American workers provide the numbers and the democrat-socialist leftists provide all the zeros paid in taxes. So remember to spell it 0bama not Obama.
Governor Rell of the socialist state of Connecticut announced yesterday that the pensions of state workers would be limited henceforth to a maximum of $100,000 per year until the 0bama depression ends. Fortunately for the unions, fewer than half the unionized CT state workers will be affected. The unions run the democrat-socialists and see to it that all state labor arbitrators are pro-union leftists. Then when teachers and state workers demand higher benefits the arbitrator's side with the unions and the taxpayers foot the bill. In Connecticut the rich leftists all invest in the municipal bonds and high dividend stocks because municipal bonds and dividends are not taxed in CT. Also the richest leftists commute to work in New York City so they got rid of all the tolls in Connecticut even though with Eazypass that would not slow them down. That leaves the non-leftist working middle class to pay the entire state tax bill. That is why the rich are the biggest leftists in the world. They are leftists takers because there is no such thing as a leftist giver unless it is your money they are giving away. Do you think 0bama pays more in taxes than he skims off for himself and his wife? Here is Ms. 0bama's most recent letter of thanks to the little American people who keep the corrupt fat leftists in power. It comes after their fifth vacation so far this year.
Dear readers,
Now for the second time, I am not ashamed of my country. I want to thank the hard working little American people for paying $242,000 plus Airforce expenses for my recent vacation in Spain . My family, several long-time family friends, my personal staff and various guests had a wonderful time. Honestly, you just haven't lived until you have stayed in a $2,500 per night suite at a 5-Star luxury hotel. We booked 70 rooms for our friends, staff and family. Thank you also for the use of Air Force 2 and the 70 Secret Service personnel who tagged along to be sure we were safe and cared for at all times.
Air Force 2 only used 47,500 gallons of jet fuel for this trip and carbon emissions were a mere 1,031 tons of CO2. It costs only $11,500 per hour to operate Air Force 2 and each additional plane for the other members of our party-time group. These are only rough estimates, but who's counting, right? That's quite a carbon footprint as my good friend Al Gore would say, so we kindly ask you American little people to drive smaller, more fuel efficient cars and drive less too, so we can all work together to lessen our combined carbon footprint.
Unfortunately we are very tired now and busy next week and will not be able to visit NYC to pay respect to the 3000+ people who died on 9-11. But do not fret our absence because we were just there in NYC recently to celebrate "Party" Weekend. We decided to cut back on travel because we know times are hard and millions of you are struggling to put food on the table and trying to make ends meet. I do appreciate your sacrifice and do hope you find work soon. I was really exhausted after Barack took our family on our luxury vacation in Maine a few weeks ago so I sincerely can feel your pain.
Cordially,
M. 0bama
PS: I will write you more from Martha's Vineyard where we will spend our sixth vacation this year with more of our family and friends. I know how much you enjoy seeing your "First Family" living it up because we are so smart and photogenic. Don't you just love my big "0bama".
The average Federal employee takes home $160,000 per year. You see, under socialism and communism you have to be part of the ruling party or you don't count for anything. Workers in private companies are mere drones working to support the benevolent and all-powerful government. And people are obviously so happy under Leftist Communism and Moslem theocracies that the elected officials typically get 90% to 99% majority votes. Yes, even Hitler himself was freely elected by majority vote. And since Hitler was even smarter than 0bama he decided future elections would just be a waste of people's time after he changed the German Constitution. Chavez recently did the same in Venezuela. At college (on a foreign student grant)0bama wrote that the American Constitution needs to be changed because it is too negative when it comes to government powers.
The freed Moslem fruit cakes intend not to form democratic governments in Iraq or Afghanistan because they fear that a western type democracy legitimizes western aggression against lunatics like Sadam Hussein and the psychotic Tallibomber Imams. That was 0bama's advice to them when he met in secret. 0bama intends to withdraw and then apologize and say Americans were the aggressors and should never have set their dirty infidel feet on sacred Musselmen lands.
Whether you are out numbered by an army of terrorists or voters does not matter if the vote gives them the right to take what you have (even your life under Moslem rule). Majority rule is what Hitler, Stalin, Saddam and every insane dictator used to prove they ran democracies. Under Stalin, all the communist block put "Democratic Socialist" on the front of the names of their countries.
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.
World Markets:
The world does not have to have an "0bama Depression." 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. 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.
Friday
Nonfarm Payrolls Aug down -54K but not as bad as July down -131.
Nonfarm Payrolls - Private Aug up 67K but not quite as good as July's +71K
Unemployment Rate Aug up a phony 9.6% from 0bama's phony 9.5% last month. Communists always report lies. There is no way so many people are losing jobs and the unemployment rate is hardly increasing.
Hourly Earnings Aug up 0.3% which is slightly better than July's 0.2% and not a sign of deflation.
Average Workweek Aug unchanged at 34.2 hours
ISM Services Aug at 51.5 a decline from July's 54.3
Today
Sep 8 10:30 AM Crude Inventories 09/04
Sep 8 2:00 PM Fed's Beige Book Sep
Sep 8 3:00 PM Consumer Credit Jul
This week yet to come
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
Sep 10 10:00 AM Wholesale Inventories Jul
Market Outlook Sept 8, 2010
Yesterday was actually a great day for the market because the volume was so low it shows that the market makers and hedge funds now have complete responsibility for the direction of the market. It will take very little volume for the market to surge now.
The market rallied last week but 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 they will be able to still 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 by 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 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 down following the USA again last night. Shanghai up 0.1%, Hong Kong down -1.5%, India up 0.1%, and Japan down -2.2%.
European markets are up following American futures again this morning in a range of about 0.1% to 0.6% about half way through their day.
US pre-market futures are up in the range 0.2% to 0.5% this morning at 9 Am.
The only thing we have to fear is fear itself, which now consists of 0bama, Gore, Bogoyevitch, Barney, Rangel, Waters and the other crooked leftist democrat-socialists.
Tuesday, September 7, 2010
The economy is in a pickle, time to reconsider the hammer and the sickle.
The economy is in a pickle, time to reconsider the hammer and the sickle.
This quote from the Sept 4, "Prairie Home Companion" ketchup song, when that liberal show humorously suggested
Obama is a communist. It also poked fun of ELCA socialist Lutherans saying they disrupt by rewarding the incompetent and they are causing turmoil at the Minnesota State Fair this year discriminating even against snooty chickens who look down their beaks at other chickens. To have Prairie Home Companion even suggest that Community-organizer-in-chief, Obama is a communist shows how prevalent that opinion is even among liberals. It got a good laugh.
People are not laughing in France today. The unions are striking and shutting down the economy because it has been suggested that full retirement benefits be moved back from 60 years to 62 years. Most union people retire at 55 in France and they want to keep earlier social security too. We had visitors from France this summer who thought the USA had no retired worker's compensation at all. That is how socialists keep the rest of Western Europe happy with their socialism. They actually have people thinking Americans have nothing when they retire. But what you discover in the countryside of socialist countries such as France is that most seniors have no teeth because it is cheaper for the government to have them pulled than to have maintenance in old age. They do indeed look much older than Americans but cutting off retired people and letting them die saves them money because people who die young cost much more to maintain while they are dying and horrible dying, not life, is what is extended. The socialists know that letting the weak die young has very little effect on the average age. Who says they are compassionate? They are materialists who try to make American free enterprise look less compassionate.
FDR turned the recession of 1929 into a double dip Great Depression by creating a US national debt that was more than 100% of the US GDP. We ended up in World War II which cost millions of lives because the socialist Nazi and communist USSR had great depressions too, only they aspired to conquer the world and redistribute the wealth of other nations to their themselves. After they robbed and murdered the wealthiest 1% of their own people they sought to rob and rule everyone else. The path of war is the path Community-organizer-in-chief, Obama, is on. It is a totalitarian war against American free enterprise and western culture and religion.
America's free enterprise has had a financial panic/depression just about every 20-50 years. The USSR, the hammer and the sickle regime, had a depression for its entire 50 years of existence and that is what the socialist-democrats want America to turn to!!! Obama and his administration is unquestionably the biggest bunch of morons on planet earth. The financial panic of 2008 was caused by mortgage derivatives that were tainted because socialist Democrat Senators Dodd and Rangle threatened to cut off banks that asked mortgage applicants for proof that they could afford the payments. The socialists harass those who are honest and wise and reward those who are dishonest and liberal/progressive (i.e. morons). Now the Obama administration is harassing the Governor and the elected sheriff of Arizona for trying to enforce the laws of the USA. The USA used to be a nation of laws. Now it is becoming a nation of venomous liberal/progressive lawyers.
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. When American's retire many realize that and move to warmer climates to enjoy a recreational life. 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 had 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.
Economic Calendar
We are seeing manipulated leftist Obama government statistics again with wide data scatter and swings 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 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.
Friday
Nonfarm Payrolls Aug down -54K but not as bad as July down -131. Caused by layoff of Obama census takers.
Nonfarm Payrolls - Private Aug up 67K but not quite as good as July's +71K
Unemployment Rate Aug up to a phony 9.6% from Obama's more phony 9.5% last month. Communists always report lies. There is no way so many people are losing jobs and the unemployment rate is hardly increasing.
Hourly Earnings Aug up 0.3% which is slightly better than July's 0.2% and not a sign of deflation.
Average Workweek Aug unchanged at 34.2 hours
ISM Services Aug at 51.5 a decline from July's 54.3
This week yet to come
Sep 8 10:30 AM Crude Inventories 09/04
Sep 8 2:00 PM Fed's Beige Book Sep
Sep 8 3:00 PM Consumer Credit Jul
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
Sep 10 10:00 AM Wholesale Inventories Jul
Market Outlook Sept 7, 2010
The market rallied last week but it is time to get ready to take profits. Set sell tagets soon. The socialist community organizers are planning an exceptionally dirty campaign this fall. All those who believe in America's free enterprise system which survived many Wall Street panics since 1776 will be given the Sarah Palin treatment by the Obama communists who say, "The economy is in a pickle, time to reconsider the hammer and the sickle."
We would have been out of the recession by now if corporations were hiring and they would be hiring if tax and spend socialism had not been introduced by Community-organizer-in-chief, Obama. The Obama deficit is already almost three times what eight years of fending off Moslem terrorists has cost us in Iraq and Afghanistan. And if Obama lets Iran build the bomb and nuke America that probably will cause World War III and end the Obama depression just like WWII ender Franklin D. Roosevelt's depression.
Obama'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 obamacare 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 Obama and Bernanke can't measure up to Reagan and Greenspan.
World Markets
Asian markets were up following the USA again last night. Shanghai up 0.1%, Hong Kong up 0.2%, India up 0.5%, and Japan down -0.8%.
European markets are down in a range of about -0.3% to -0.9% this morning about half way through their day.
US pre-market futures are down in the range -0.4% to -0.6% this morning at 8:30 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.
This quote from the Sept 4, "Prairie Home Companion" ketchup song, when that liberal show humorously suggested
Obama is a communist. It also poked fun of ELCA socialist Lutherans saying they disrupt by rewarding the incompetent and they are causing turmoil at the Minnesota State Fair this year discriminating even against snooty chickens who look down their beaks at other chickens. To have Prairie Home Companion even suggest that Community-organizer-in-chief, Obama is a communist shows how prevalent that opinion is even among liberals. It got a good laugh.
People are not laughing in France today. The unions are striking and shutting down the economy because it has been suggested that full retirement benefits be moved back from 60 years to 62 years. Most union people retire at 55 in France and they want to keep earlier social security too. We had visitors from France this summer who thought the USA had no retired worker's compensation at all. That is how socialists keep the rest of Western Europe happy with their socialism. They actually have people thinking Americans have nothing when they retire. But what you discover in the countryside of socialist countries such as France is that most seniors have no teeth because it is cheaper for the government to have them pulled than to have maintenance in old age. They do indeed look much older than Americans but cutting off retired people and letting them die saves them money because people who die young cost much more to maintain while they are dying and horrible dying, not life, is what is extended. The socialists know that letting the weak die young has very little effect on the average age. Who says they are compassionate? They are materialists who try to make American free enterprise look less compassionate.
FDR turned the recession of 1929 into a double dip Great Depression by creating a US national debt that was more than 100% of the US GDP. We ended up in World War II which cost millions of lives because the socialist Nazi and communist USSR had great depressions too, only they aspired to conquer the world and redistribute the wealth of other nations to their themselves. After they robbed and murdered the wealthiest 1% of their own people they sought to rob and rule everyone else. The path of war is the path Community-organizer-in-chief, Obama, is on. It is a totalitarian war against American free enterprise and western culture and religion.
America's free enterprise has had a financial panic/depression just about every 20-50 years. The USSR, the hammer and the sickle regime, had a depression for its entire 50 years of existence and that is what the socialist-democrats want America to turn to!!! Obama and his administration is unquestionably the biggest bunch of morons on planet earth. The financial panic of 2008 was caused by mortgage derivatives that were tainted because socialist Democrat Senators Dodd and Rangle threatened to cut off banks that asked mortgage applicants for proof that they could afford the payments. The socialists harass those who are honest and wise and reward those who are dishonest and liberal/progressive (i.e. morons). Now the Obama administration is harassing the Governor and the elected sheriff of Arizona for trying to enforce the laws of the USA. The USA used to be a nation of laws. Now it is becoming a nation of venomous liberal/progressive lawyers.
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. When American's retire many realize that and move to warmer climates to enjoy a recreational life. 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 had 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.
Economic Calendar
We are seeing manipulated leftist Obama government statistics again with wide data scatter and swings 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 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.
Friday
Nonfarm Payrolls Aug down -54K but not as bad as July down -131. Caused by layoff of Obama census takers.
Nonfarm Payrolls - Private Aug up 67K but not quite as good as July's +71K
Unemployment Rate Aug up to a phony 9.6% from Obama's more phony 9.5% last month. Communists always report lies. There is no way so many people are losing jobs and the unemployment rate is hardly increasing.
Hourly Earnings Aug up 0.3% which is slightly better than July's 0.2% and not a sign of deflation.
Average Workweek Aug unchanged at 34.2 hours
ISM Services Aug at 51.5 a decline from July's 54.3
This week yet to come
Sep 8 10:30 AM Crude Inventories 09/04
Sep 8 2:00 PM Fed's Beige Book Sep
Sep 8 3:00 PM Consumer Credit Jul
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
Sep 10 10:00 AM Wholesale Inventories Jul
Market Outlook Sept 7, 2010
The market rallied last week but it is time to get ready to take profits. Set sell tagets soon. The socialist community organizers are planning an exceptionally dirty campaign this fall. All those who believe in America's free enterprise system which survived many Wall Street panics since 1776 will be given the Sarah Palin treatment by the Obama communists who say, "The economy is in a pickle, time to reconsider the hammer and the sickle."
We would have been out of the recession by now if corporations were hiring and they would be hiring if tax and spend socialism had not been introduced by Community-organizer-in-chief, Obama. The Obama deficit is already almost three times what eight years of fending off Moslem terrorists has cost us in Iraq and Afghanistan. And if Obama lets Iran build the bomb and nuke America that probably will cause World War III and end the Obama depression just like WWII ender Franklin D. Roosevelt's depression.
Obama'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 obamacare 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 Obama and Bernanke can't measure up to Reagan and Greenspan.
World Markets
Asian markets were up following the USA again last night. Shanghai up 0.1%, Hong Kong up 0.2%, India up 0.5%, and Japan down -0.8%.
European markets are down in a range of about -0.3% to -0.9% this morning about half way through their day.
US pre-market futures are down in the range -0.4% to -0.6% this morning at 8:30 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.
Friday, September 3, 2010
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.
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.
Thursday, September 2, 2010
Order Stuffing may have been used to create the Flash Crash of May 6
Order Stuffing may have been used to create the Flash Crash of May 6
Finally justice may prevail. Most of the Wall Street talking heads still lie to investors and say stop orders protect your gains. In reality stop orders guarantee your losses. Periodically the market makers take down their stocks and trigger all the stop orders. On May 6 the flash crash apparently did the same for everyone with any stop orders. It was accomplished by stuffing the system with sell orders long enough for the slow stock exchange computers to incrementally drop the price but not long enough for the exchange to actually sell the stock. Then the orders were rapidly cancelled and replaced with even lower sell orders… and on and on as the market plummeted. Now, finally, some corrupt liberal hedge fund managers may be bankrupted and sent to jail where they belong for almost destroying the free market system and frightening away investors.
Corruption is rampant in Washington now. A congresswoman in Texas was just exposed yesterday for giving all the scholarships she handled to her grandchildren and her office staff who had different last names. Democratic Rep. Eddie Bernice Johnson stole an estimated $31,000 from the Congressional Black Caucus Foundation that way. Today the liberals are hated so much the socialists have decided to call themselves progressives. Progressive was originally the name of the party conservative Republican Teddy Roosevelt created to beat the socialists in both parties of his time. He was an independent political leader.
A poll today in Ohio (where Barack Hussein Obama defeated Hilary) asked whom would they rather have now as president? Bush (who left office with only a 25% approval rating) or Obama. 50% said they preferred Bush, 42% said Obama and 8% were undecided.
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-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 white farmers but no longer discriminates against poor white farmers. They fired her prematurely and then gave her a golden parachute because she did not discriminate against the poor.
World Markets:
US stocks opened sharply higher following reports showing a rebound in China manufacturing. In addition, stronger-than-expected economic growth in Australia helped fuel optimism about the global economy. Asia followed the US market again last night with substantial gains.
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.
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.
Yesterday
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.
Today
Sep 2 8:30 AM Initial Claims 08/28
Sep 2 8:30 AM Continuing Claims 08/21
Sep 2 8:30 AM Productivity-Rev. Q2
Sep 2 8:30 AM Unit Labor Costs Q2
Sep 2 10:00 AM Factory Orders Jul
Sep 2 10:00 AM Pending Home Sales Jul
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 2, 2010
The market rose yesterday on a price surge of 2.4% and with another increase in volume bringing volume further above average (100 DMA). It was evident that bargain hunting started a rally. The market averages look even more like a double bottom formation.
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.
World Markets
Asian markets were up following the USA again last night. Shanghai up 1.3%, Hong Kong up 1.2%, India up 0.2%, and Japan up 1.5%.
European markets are flat waiting for the USA markets to open, in a range of about -0.1% to +0.1% 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 8:30 Am.
The only thing we have to fear is fear itself, which now consists of Obama, Gore, Bogoyevitch, Barney, Rangel, Waters and the other leftist crook democrat-socialists.
Finally justice may prevail. Most of the Wall Street talking heads still lie to investors and say stop orders protect your gains. In reality stop orders guarantee your losses. Periodically the market makers take down their stocks and trigger all the stop orders. On May 6 the flash crash apparently did the same for everyone with any stop orders. It was accomplished by stuffing the system with sell orders long enough for the slow stock exchange computers to incrementally drop the price but not long enough for the exchange to actually sell the stock. Then the orders were rapidly cancelled and replaced with even lower sell orders… and on and on as the market plummeted. Now, finally, some corrupt liberal hedge fund managers may be bankrupted and sent to jail where they belong for almost destroying the free market system and frightening away investors.
Corruption is rampant in Washington now. A congresswoman in Texas was just exposed yesterday for giving all the scholarships she handled to her grandchildren and her office staff who had different last names. Democratic Rep. Eddie Bernice Johnson stole an estimated $31,000 from the Congressional Black Caucus Foundation that way. Today the liberals are hated so much the socialists have decided to call themselves progressives. Progressive was originally the name of the party conservative Republican Teddy Roosevelt created to beat the socialists in both parties of his time. He was an independent political leader.
A poll today in Ohio (where Barack Hussein Obama defeated Hilary) asked whom would they rather have now as president? Bush (who left office with only a 25% approval rating) or Obama. 50% said they preferred Bush, 42% said Obama and 8% were undecided.
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-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 white farmers but no longer discriminates against poor white farmers. They fired her prematurely and then gave her a golden parachute because she did not discriminate against the poor.
World Markets:
US stocks opened sharply higher following reports showing a rebound in China manufacturing. In addition, stronger-than-expected economic growth in Australia helped fuel optimism about the global economy. Asia followed the US market again last night with substantial gains.
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.
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.
Yesterday
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.
Today
Sep 2 8:30 AM Initial Claims 08/28
Sep 2 8:30 AM Continuing Claims 08/21
Sep 2 8:30 AM Productivity-Rev. Q2
Sep 2 8:30 AM Unit Labor Costs Q2
Sep 2 10:00 AM Factory Orders Jul
Sep 2 10:00 AM Pending Home Sales Jul
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 2, 2010
The market rose yesterday on a price surge of 2.4% and with another increase in volume bringing volume further above average (100 DMA). It was evident that bargain hunting started a rally. The market averages look even more like a double bottom formation.
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.
World Markets
Asian markets were up following the USA again last night. Shanghai up 1.3%, Hong Kong up 1.2%, India up 0.2%, and Japan up 1.5%.
European markets are flat waiting for the USA markets to open, in a range of about -0.1% to +0.1% 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 8:30 Am.
The only thing we have to fear is fear itself, which now consists of Obama, Gore, Bogoyevitch, Barney, Rangel, Waters and the other leftist crook democrat-socialists.
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