Mayor Bloomberg hinted today that he could be the next US Treasury Secretary.
Mayor Bloomberg could be the next treasury secretary and thinks he could help restore confidence that we are coming out of the recession. He would like to help Obama get re-elected.
Goldman Sucks first moved all the multi million-dollar bonuses up to December 30, 2010, to avoid possible higher 2011 tax hits. But after the Obama compromise yesterday, Goldman Sucks will now allow them to take the money in January to defer the income if they wish. Of course they will do that because it delays the income only one day and delays the tax by one year. Who says crime does not pay? Goldman Sucks knew the mortgages were junk but kept that fact a secret and bet against the mortgages to make $billions while they continued to sell the junk colateralized debt to their clients. Who could ever trust them again?
The most corrupt country in Africa, which is the most corrupt continent in the world, failed in its attempt to force bribes from Halliburton even after threatening to claim Halliburton bribed Nigeria. The Nigerian claim is harder to believe than if the Moscow Mafia claimed Halliburton forced them to take bribes to get a piece of the Siberian oil drilling. Of course the Nigerian president of America, Barack Obama, claims he did not have anything to do with these ridiculous charges from his native land. Obama still has not helped his brother who lives in a mud hut in Nigeria. His brother is a good hygienic Moslem still eats with his right hand as the Koran instructs because he wipes his ass with his left hand. The Koran is filled with good advice like that.
Most Important Rule, By John P. Hussman, Ph.D.
Since the early 1980's, I've examined and tested an enormous range of analytical techniques and investment rules, including various versions of "Don't fight the Fed," and "Don't fight the tape." If I had to choose between only these two, "Don't fight the tape" would win, hands down, as Fed-based investment approaches typically endure excruciating drawdowns - even those that succeed in slightly improving long-term returns. That said, there are numerous refinements that perform far better than these simple rules-of-thumb; especially those that reflect broader considerations such as valuation, sentiment, economic pressures, yield trends, market internals, and so forth. If I had to pull a single rule from these combinations, one particular admonition - "Don't take risk in overvalued, overbought, overbullish, rising-yield environments" - is one of the single most important in terms of avoiding major, sometimes catastrophic losses.
By John P. Hussman, Ph.D.
President, Hussman Investment Trust
http://www.hussman.net/weeklyMarketComment.html
New unplanned consequence of overpaying executives is they have more money than they need in just two or three years so they retire like the Phizer executive. That just adds fuel to the myth that they are worth the money they get. Most of them are incompetent heirs and deserve as much as Henry the XV1 and his wife Marie got.
World Markets:
China is bringing forward the release of November economic data on inflation, retail sales, industrial output and fixed-asset investments to Dec. 11, heightening speculation the People’s Bank of China will raise interest rates this weekend. China has a large bubble of unoccupied housing and office space that has been bid up by speculators who believe prices can only go higher.
Chinese economic data may be entirely fraudulent now. There is no way to know anymore. China imprisoned an American with an eight-year sentence because he was in China doing investor research to see if the balance sheets and income statements were truth or a fraud. Seeking truth is now apparently a criminal offense in China. That means that we can no longer trust any Chinese financial reports because fraud in China cannot be reported. That means any investing in China could result in 100% losses when their bubble of Ponzi schemes and other fraud breaks. We would advise getting out of the Chinese markets until all Wall Street reporters are freed from China's prisons.
If there is no transparency and no independent verification allowed in China that means their whole system may be based on fraud. China may now be in danger of a stock market collapse because they find it necessary to lock up the people who try to verify the corporation data. It could be the biggest scam ever perpetrated. China could walk away with much more than they would lose if Obama defaults on the treasury debt they hold.
Economic Calendar
The news is that our economy is still bouncing along the bottom except in manufacturing and retail sales that are nearly fully recovered. Planned layoff have risen sharply again.
This week's bad news
Yesterday
Consumer Credit Oct up 3.4B from 1.2B last month. Consumer debt not job income is behind higher sales.
MBA Mortgage Applications 12/03 down another 0.9% last month. Obama is a disaster case allowing Real Estate to fester this long.
Crude Inventories 12/04 down 3.8M as oil prices rise over $90 and this is with a stagnant world economy. Bad news-shortages are coming like they have in Obama's' favorite country Zimbabwe. Obama's favorite world leaders are Mugabe of Zimbabwe, Ortega of Venezuela, and Castro of Cuba all Socialist psychopaths.
Today
Initial Claims 12/04
Continuing Claims 11/27 -
Wholesale Inventories Oct
Friday
Trade Balance Oct
Export Prices ex-ag. Nov
Import Prices ex-oil Nov
Mich Sentiment Dec
Treasury Budget Nov
Market Outlook Dec 9, 2010
Most metals on the London Metal Exchange and crude oil futures fell again yesterday on year-end profit taking. Gold is up 26% and silver is up 33% this year. The fed wants 2.6% inflation. It will be 11 years before prices rise 33%. We have had moderate deflation these past two years and so far the FED has not been able to get any inflation much less their goal of 2.6%. The people who bought silver now will have to wait ten or more years before their investment pays off.
The stock market again hits the wall at the recent high resistance level. The U.S. market continues in a narrow trading range. Today we could test the upper range yet again.
Bonds have started taking a beating from the FED and that beating will go on through much of next year. Usually the first effect of a declining bond market is a rise in stock prices and then is followed with a collapse in stock prices. We expect a sharp collapse of the equities markets in January. The people who lost their shirts on stocks went into bonds after 2008. Now as they lose their pants in Bonds they will want stocks again. So later next year could be good for stocks after the bond losers get back into stocks near the highs this year.
World Markets
Asian markets were net down last night. China's market was down -1.3%, Hong Kong up 0.3%, India down -2.3%, and Japan up 0.5%.
European markets are up slightly this morning in a range of about -0.3% to +0.5% half way through their day.
US pre-market futures are up about +0.3% at 8 AM EST. The good new is that taxes will not rise for two more years, which means people may take profits and actually help reduce the deficit.
Thursday, December 9, 2010
Wednesday, December 8, 2010
Chinese economic data may be entirely fraudulent now.
Chinese economic data may be entirely fraudulent now. There is no way to know anymore.
Goldman Sucks moved all the multi million dollar bonuses up to December 30 to avoid possible higher 2011 tax hits. But after the Obama compromise yesterday, Goldman Sucks will now allow them to take the money in January if they prefer. Who says crime does not pay?
A typical scenario with American trial lawyers:
Judas is has worked a whole year and is bored so he drives in front of a post office truck as the truck pulls out, and stops short. The truck dents the passenger side door so he claims a serious back injury. This is the forth back injury claim he has made in just 20 years and his lawyer says it could be worth over $200,000 in an out-of-court settlement since Uncle Sap is the plaintiff and Judas is of the proper victim class and color. So Judas slacks off on his stock-boy job and is laid off and goes on unemployment again for a three-year vacation.
Socialism is the government of the people by the leftists for the laziest of the leftist. If you rob Peter to give Paul a government job, Paul will vote for you but next year you need to rob Mathew as well as Peter to make up for growing general unemployment and increase in government workers that the private economy must pay for in higher taxes. The bigger government becomes the bigger the pool of socialist union voters, the stronger the socialist party becomes and the more burdened and uncompetitive the free enterprise economy becomes. Ultimately the parasites and sycophants run the country and that is called socialism. Hitler and Mussolini were national socialists. Stalin and Mao were international socialists. Castro and Chavez are banana republic socialists. Obama is a would-be banana republic socialist.
New unplanned consequence of overpaying executives is they have more money than they need in just two or three years so they retire like the Phizer executive. That just adds fuel to the myth that they are worth the money they get.
World Markets:
China is bringing forward the release of November economic data on inflation, retail sales, industrial output and fixed-asset investments to Dec. 11, heightening speculation the People’s Bank of China will raise interest rates this weekend. China has a large bubble of unoccupied housing and office space that has been bid up by speculators who believe prices can only go higher. They need a property tax to tax the speculators on each unoccupied unit and that will stabilize the market. These speculators are cornering the market and that is illegal in free market countries. That cornering the market problem occurred in America 100 years ago.
Chinese economic data may be entirely fraudulent now. There is no way to know anymore. China imprisoned an American with an eight-year sentence because he was in China doing investor research to see if the balance sheets and income statements were truth or a fraud. Seeking truth is now apparently a criminal offense in China. That means that we can no longer trust any Chinese financial reports because fraud in China cannot be reported. That means any investing in China could result in 100% losses when their bubble of Ponzi schemes and other fraud breaks. We would advise getting out of the Chinese markets until all Wall Street reporters are freed from China's prisons.
If there is no transparency and no independent verification allowed in China that means their whole system may be based on fraud. China may now be in danger of a stock market collapse because they find it necessary to lock up the people who try to verify the corporation data. It could be the biggest scam ever perpetrated. China could walk away with much more than they would lose if Obama defaults on the treasury debt they hold.
Economic Calendar
The news is that our economy is still bouncing along the bottom except in manufacturing and retail sales that are nearly fully recovered. Planned layoff have risen sharply again.
Last week was bad news
Nonfarm Payrolls Nov up only 39K down from 172Klast month. Very bad
Nonfarm Private Payrolls Nov up only 50K down from 160Klast month. Very bad
Unemployment Rate Nov increased to 9.8% from 9.6%. Very bad
Hourly Earnings Nov no change, down from a 0.2% increase the last time. Deflationary and bad
Factory Orders Oct down -0.9% after being up 2.1% last month. Very bad
Yesterday
Consumer Credit Oct up 3.4B from 1.2B last month. Consumer debt not job income is behind higher sales.
Today
MBA Mortgage Applications 12/03
Crude Inventories 12/04
Thursday
Initial Claims 12/04
Continuing Claims 11/27 -
Wholesale Inventories Oct
Friday
Trade Balance Oct
Export Prices ex-ag. Nov
Import Prices ex-oil Nov
Mich Sentiment Dec
Treasury Budget Nov
Market Outlook Dec 8, 2010
Most metals on the London Metal Exchange and crude oil futures fell today on year-end profit taking.
The stock market again hits the wall at the recent high resistance level. The U.S. market continues in a narrow trading range. Today we could test the upper range again.
Bonds have started taking a beating from the FED and that beating will go on through much of next year. Usually the first effect of a declining bond market is a rise in stock prices and then is followed with a collapse in stock prices. We expect a sharp collapse of the equities markets in January. The people who lost their shirts on stocks went into bonds after 2008. Now as they lose their pants in Bonds they will want stocks again. So later next year could be good for stocks after the bond losers get back into stocks near the highs this year.
The Democrat socialists want to say that things were better until they were thrown out of Congress. Socialists and Communists like to create crises situations so that they can take greater power. But for now we expect the market and commodities will stay near their highs for the rest of this year since they remain a serious economic threat to the economy and they still hold the Congress and can pass any deals or compromises they want.
The commodity bubble is already inflating and could further choke off recovery by driving up costs, reducing margins, and hurting profits.
World Markets
Asian markets were down last night. China's market was down -1%, Hong Kong down -1.4%, India down -1.2%, and Japan up 0.9%.
European markets are mixed this morning in a range of about -0.3% to +0.3% half way through their day.
US pre-market futures are flat about -.1% to +0.2% at 8 AM EST. The good new is that taxes will not rise for two more years, which means people may take profits and actually help reduce the deficit.
Goldman Sucks moved all the multi million dollar bonuses up to December 30 to avoid possible higher 2011 tax hits. But after the Obama compromise yesterday, Goldman Sucks will now allow them to take the money in January if they prefer. Who says crime does not pay?
A typical scenario with American trial lawyers:
Judas is has worked a whole year and is bored so he drives in front of a post office truck as the truck pulls out, and stops short. The truck dents the passenger side door so he claims a serious back injury. This is the forth back injury claim he has made in just 20 years and his lawyer says it could be worth over $200,000 in an out-of-court settlement since Uncle Sap is the plaintiff and Judas is of the proper victim class and color. So Judas slacks off on his stock-boy job and is laid off and goes on unemployment again for a three-year vacation.
Socialism is the government of the people by the leftists for the laziest of the leftist. If you rob Peter to give Paul a government job, Paul will vote for you but next year you need to rob Mathew as well as Peter to make up for growing general unemployment and increase in government workers that the private economy must pay for in higher taxes. The bigger government becomes the bigger the pool of socialist union voters, the stronger the socialist party becomes and the more burdened and uncompetitive the free enterprise economy becomes. Ultimately the parasites and sycophants run the country and that is called socialism. Hitler and Mussolini were national socialists. Stalin and Mao were international socialists. Castro and Chavez are banana republic socialists. Obama is a would-be banana republic socialist.
New unplanned consequence of overpaying executives is they have more money than they need in just two or three years so they retire like the Phizer executive. That just adds fuel to the myth that they are worth the money they get.
World Markets:
China is bringing forward the release of November economic data on inflation, retail sales, industrial output and fixed-asset investments to Dec. 11, heightening speculation the People’s Bank of China will raise interest rates this weekend. China has a large bubble of unoccupied housing and office space that has been bid up by speculators who believe prices can only go higher. They need a property tax to tax the speculators on each unoccupied unit and that will stabilize the market. These speculators are cornering the market and that is illegal in free market countries. That cornering the market problem occurred in America 100 years ago.
Chinese economic data may be entirely fraudulent now. There is no way to know anymore. China imprisoned an American with an eight-year sentence because he was in China doing investor research to see if the balance sheets and income statements were truth or a fraud. Seeking truth is now apparently a criminal offense in China. That means that we can no longer trust any Chinese financial reports because fraud in China cannot be reported. That means any investing in China could result in 100% losses when their bubble of Ponzi schemes and other fraud breaks. We would advise getting out of the Chinese markets until all Wall Street reporters are freed from China's prisons.
If there is no transparency and no independent verification allowed in China that means their whole system may be based on fraud. China may now be in danger of a stock market collapse because they find it necessary to lock up the people who try to verify the corporation data. It could be the biggest scam ever perpetrated. China could walk away with much more than they would lose if Obama defaults on the treasury debt they hold.
Economic Calendar
The news is that our economy is still bouncing along the bottom except in manufacturing and retail sales that are nearly fully recovered. Planned layoff have risen sharply again.
Last week was bad news
Nonfarm Payrolls Nov up only 39K down from 172Klast month. Very bad
Nonfarm Private Payrolls Nov up only 50K down from 160Klast month. Very bad
Unemployment Rate Nov increased to 9.8% from 9.6%. Very bad
Hourly Earnings Nov no change, down from a 0.2% increase the last time. Deflationary and bad
Factory Orders Oct down -0.9% after being up 2.1% last month. Very bad
Yesterday
Consumer Credit Oct up 3.4B from 1.2B last month. Consumer debt not job income is behind higher sales.
Today
MBA Mortgage Applications 12/03
Crude Inventories 12/04
Thursday
Initial Claims 12/04
Continuing Claims 11/27 -
Wholesale Inventories Oct
Friday
Trade Balance Oct
Export Prices ex-ag. Nov
Import Prices ex-oil Nov
Mich Sentiment Dec
Treasury Budget Nov
Market Outlook Dec 8, 2010
Most metals on the London Metal Exchange and crude oil futures fell today on year-end profit taking.
The stock market again hits the wall at the recent high resistance level. The U.S. market continues in a narrow trading range. Today we could test the upper range again.
Bonds have started taking a beating from the FED and that beating will go on through much of next year. Usually the first effect of a declining bond market is a rise in stock prices and then is followed with a collapse in stock prices. We expect a sharp collapse of the equities markets in January. The people who lost their shirts on stocks went into bonds after 2008. Now as they lose their pants in Bonds they will want stocks again. So later next year could be good for stocks after the bond losers get back into stocks near the highs this year.
The Democrat socialists want to say that things were better until they were thrown out of Congress. Socialists and Communists like to create crises situations so that they can take greater power. But for now we expect the market and commodities will stay near their highs for the rest of this year since they remain a serious economic threat to the economy and they still hold the Congress and can pass any deals or compromises they want.
The commodity bubble is already inflating and could further choke off recovery by driving up costs, reducing margins, and hurting profits.
World Markets
Asian markets were down last night. China's market was down -1%, Hong Kong down -1.4%, India down -1.2%, and Japan up 0.9%.
European markets are mixed this morning in a range of about -0.3% to +0.3% half way through their day.
US pre-market futures are flat about -.1% to +0.2% at 8 AM EST. The good new is that taxes will not rise for two more years, which means people may take profits and actually help reduce the deficit.
Tuesday, December 7, 2010
Socialism is the government of the people by the leftists for the laziest of the leftist.
Socialism is the government of the people by the leftists for the laziest of the leftist. If you rob Peter to give Paul a government job, Paul will vote for you but next year you need to rob Mathew as well as Peter to make up for growing general unemployment and more government workers to pay.
New unplanned consequence of overpaying executives is they have more money than they need in just two or three years so they retire like the Phizer executive.
We must not only cease our present desire for the growth of the state, but we must desire its decrease, its weakening. Government is an association of men who do violence to the rest of us. L. Tolstoy
Government can never redistribute wealth for any long period of time it can only impoverish everyone when it tries. A leftist ELCA run University could, if it is disturbed by the fact that so many minorities get low grades and drop out of school, it could consider the following type of logic. Why not give a full scholarship to those who fail every subject, 50% for a D average, 25% for a C average, and nothing for brighter students who signs of responsibility or a work ethic. Those A and B students really are capable of finding work or a loan so that they can attend anyway. The net result is that the brighter student can still beat the dumb and lazy because they know the right answers to the tests while the dumbest and laziest students have only a 50% chance of getting a true/false answer correct. The bright students can always beat the lazy and dumb because the A student is capable of getting only 90% right so he can put down 90 wrong answers if that is all it takes to get them a free education. So in socialist countries where everyone is entitled to all they can eat, a house, a car, and job we see how it ends up. In East Germany and Russia they went hungry, lived in the same unpainted filthy house for 50 years, had Trabat type polluting cars that were like driving a smoky lawn mower, but usually could not drive because there was no gasoline. They just pretended to have a real job, and the government printed money to pay them. In Red China they had starvation, lived in huts, rode bicycles, used human powered rickshaws, and were employed as serfs and virtual slaves. Today Germany is united and a powerhouse. Russia is no longer a criminal communist state it is just criminal, and China has freed up their economy and is doing much better but there is a real doubt about the government that imprisons anyone how tries to look at the company financial statements. They government may still have mentally unstable criminal communist leaders like the N Koreans. China could end up as another Cambodia and murder everyone who is succeeding in their economic boom.
When Communists do not become free but only experiment with private property they have a tendency to go to a gangster government or relapse and become homicidal Cambodia style.
World Markets:
Chinese economic data may be entirely fraudulent now. There is no way to know anymore. China imprisoned an American with an eight-year sentence because he was in China doing investor research to see if the balance sheets and income statements were truth or a fraud. Seeking truth is now apparently a criminal offense in China. That means that we can no longer trust any Chinese financial reports because fraud in China cannot be reported. That means any investing in China could result in 100% losses when their bubble of Ponzi schemes and other fraud breaks. We would advise getting out of the Chinese markets until all Wall Street reporters are freed from China's prisons.
If there is no transparency and no independent verification allowed in China that means their whole system may be based on fraud. China may now be in danger of a stock market collapse because they find it necessary to lock up the people who try to verify the corporation data. It could be the biggest scam ever perpetrated. China could walk away with much more than they would lose if Obama defaults on the treasury debt they hold.
Economic Calendar
The news is that our economy is still bouncing along the bottom except in manufacturing and retail sales that are nearly fully recovered. Planned layoff have risen sharply again.
Last week
Nonfarm Payrolls Nov up only 39K down from 172Klast month. Very bad
Nonfarm Private Payrolls Nov up only 50K down from 160Klast month. Very bad
Unemployment Rate Nov increased to 9.8% from 9.6%. Very bad
Hourly Earnings Nov no change, down from a 0.2% increase the last time. Deflationary and bad
Average Workweek Nov 34.3 hrs unchanged. Flat recovery
Factory Orders Oct down -0.9% after being up 2.1% last month. Very bad
ISM Services Nov at 55 up slightly from 54.3 last month. Slight improvement.
Today
Consumer Credit Oct
Wednesday
MBA Mortgage Applications 12/03
Crude Inventories 12/04
Thursday
Initial Claims 12/04
Continuing Claims 11/27 -
Wholesale Inventories Oct
Friday
Trade Balance Oct
Export Prices ex-ag. Nov
Import Prices ex-oil Nov
Mich Sentiment Dec
Treasury Budget Nov
Market Outlook Dec 7, 2010
The stock market has bounced back up through the 21 Day moving average resistance level but not to the recent high resistance level. The U.S. market continues in narrow trading range. Today we could test the upper range again. Bonds have started taking a beating from the FED and that beating will go on through much of next year. Usually the first effect of a declining bond market is a rise in stock prices and then a collapse in stock prices. We expect a sharp collapse of the equities markets in January. The people who lost their shirts on stocks went into bonds after 2008. Now as they lose their pants in Bonds they will want stocks again. So later next year could be good for stocks until all the bond losers get back into stocks near the high.
The socialists want to say that things were better until they were thrown out of Congress. Socialists and Communists like to create crises situations so that they can take greater power. But for now we expect the market and commodities will stay near their highs for the year since they still hold the Congress and can pass any deals or compromises they want.
The cause of each of the sixteen or so economic bubble bursts that America has endured since 1776 has always been slightly different. It has ranged from private banks, to central banks, to railroad busts, cornering futures markets to the recent Senate Banking Committee corruption of requiring loans to people of Obama's race with don't ask don't tell credit verification. If you asked questions Freddie and Fannie would not guarantee the mortgages of your firm so you lost all that business. Of course we taxpayer's still do not know our liabilities and the situation is getting worse. The housing market is slowly collapsing because the FED is not liquidating that junk like they said they would two years ago. We expect the current socialist government's debt policies and the growing underclass that would support a promised benevolent socialist dictatorship will cause the next recession.
World Markets
Asian markets were mixed last night. China's market was up 0.7%, Hong Kong up 0.8%, India down -0.2%, and Japan down -0.3%.
European markets are up this morning in a range of about 1% to +2% half way through their day.
US pre-market futures are up about 0.8% at 8 AM EST. The good new is that taxes will not rise for two more years which means people may take profits next year and actually help reduce the deficit. The good news of a sane compromise with some Tea Party ideas is buoying world markets today.
New unplanned consequence of overpaying executives is they have more money than they need in just two or three years so they retire like the Phizer executive.
We must not only cease our present desire for the growth of the state, but we must desire its decrease, its weakening. Government is an association of men who do violence to the rest of us. L. Tolstoy
Government can never redistribute wealth for any long period of time it can only impoverish everyone when it tries. A leftist ELCA run University could, if it is disturbed by the fact that so many minorities get low grades and drop out of school, it could consider the following type of logic. Why not give a full scholarship to those who fail every subject, 50% for a D average, 25% for a C average, and nothing for brighter students who signs of responsibility or a work ethic. Those A and B students really are capable of finding work or a loan so that they can attend anyway. The net result is that the brighter student can still beat the dumb and lazy because they know the right answers to the tests while the dumbest and laziest students have only a 50% chance of getting a true/false answer correct. The bright students can always beat the lazy and dumb because the A student is capable of getting only 90% right so he can put down 90 wrong answers if that is all it takes to get them a free education. So in socialist countries where everyone is entitled to all they can eat, a house, a car, and job we see how it ends up. In East Germany and Russia they went hungry, lived in the same unpainted filthy house for 50 years, had Trabat type polluting cars that were like driving a smoky lawn mower, but usually could not drive because there was no gasoline. They just pretended to have a real job, and the government printed money to pay them. In Red China they had starvation, lived in huts, rode bicycles, used human powered rickshaws, and were employed as serfs and virtual slaves. Today Germany is united and a powerhouse. Russia is no longer a criminal communist state it is just criminal, and China has freed up their economy and is doing much better but there is a real doubt about the government that imprisons anyone how tries to look at the company financial statements. They government may still have mentally unstable criminal communist leaders like the N Koreans. China could end up as another Cambodia and murder everyone who is succeeding in their economic boom.
When Communists do not become free but only experiment with private property they have a tendency to go to a gangster government or relapse and become homicidal Cambodia style.
World Markets:
Chinese economic data may be entirely fraudulent now. There is no way to know anymore. China imprisoned an American with an eight-year sentence because he was in China doing investor research to see if the balance sheets and income statements were truth or a fraud. Seeking truth is now apparently a criminal offense in China. That means that we can no longer trust any Chinese financial reports because fraud in China cannot be reported. That means any investing in China could result in 100% losses when their bubble of Ponzi schemes and other fraud breaks. We would advise getting out of the Chinese markets until all Wall Street reporters are freed from China's prisons.
If there is no transparency and no independent verification allowed in China that means their whole system may be based on fraud. China may now be in danger of a stock market collapse because they find it necessary to lock up the people who try to verify the corporation data. It could be the biggest scam ever perpetrated. China could walk away with much more than they would lose if Obama defaults on the treasury debt they hold.
Economic Calendar
The news is that our economy is still bouncing along the bottom except in manufacturing and retail sales that are nearly fully recovered. Planned layoff have risen sharply again.
Last week
Nonfarm Payrolls Nov up only 39K down from 172Klast month. Very bad
Nonfarm Private Payrolls Nov up only 50K down from 160Klast month. Very bad
Unemployment Rate Nov increased to 9.8% from 9.6%. Very bad
Hourly Earnings Nov no change, down from a 0.2% increase the last time. Deflationary and bad
Average Workweek Nov 34.3 hrs unchanged. Flat recovery
Factory Orders Oct down -0.9% after being up 2.1% last month. Very bad
ISM Services Nov at 55 up slightly from 54.3 last month. Slight improvement.
Today
Consumer Credit Oct
Wednesday
MBA Mortgage Applications 12/03
Crude Inventories 12/04
Thursday
Initial Claims 12/04
Continuing Claims 11/27 -
Wholesale Inventories Oct
Friday
Trade Balance Oct
Export Prices ex-ag. Nov
Import Prices ex-oil Nov
Mich Sentiment Dec
Treasury Budget Nov
Market Outlook Dec 7, 2010
The stock market has bounced back up through the 21 Day moving average resistance level but not to the recent high resistance level. The U.S. market continues in narrow trading range. Today we could test the upper range again. Bonds have started taking a beating from the FED and that beating will go on through much of next year. Usually the first effect of a declining bond market is a rise in stock prices and then a collapse in stock prices. We expect a sharp collapse of the equities markets in January. The people who lost their shirts on stocks went into bonds after 2008. Now as they lose their pants in Bonds they will want stocks again. So later next year could be good for stocks until all the bond losers get back into stocks near the high.
The socialists want to say that things were better until they were thrown out of Congress. Socialists and Communists like to create crises situations so that they can take greater power. But for now we expect the market and commodities will stay near their highs for the year since they still hold the Congress and can pass any deals or compromises they want.
The cause of each of the sixteen or so economic bubble bursts that America has endured since 1776 has always been slightly different. It has ranged from private banks, to central banks, to railroad busts, cornering futures markets to the recent Senate Banking Committee corruption of requiring loans to people of Obama's race with don't ask don't tell credit verification. If you asked questions Freddie and Fannie would not guarantee the mortgages of your firm so you lost all that business. Of course we taxpayer's still do not know our liabilities and the situation is getting worse. The housing market is slowly collapsing because the FED is not liquidating that junk like they said they would two years ago. We expect the current socialist government's debt policies and the growing underclass that would support a promised benevolent socialist dictatorship will cause the next recession.
World Markets
Asian markets were mixed last night. China's market was up 0.7%, Hong Kong up 0.8%, India down -0.2%, and Japan down -0.3%.
European markets are up this morning in a range of about 1% to +2% half way through their day.
US pre-market futures are up about 0.8% at 8 AM EST. The good new is that taxes will not rise for two more years which means people may take profits next year and actually help reduce the deficit. The good news of a sane compromise with some Tea Party ideas is buoying world markets today.
Monday, December 6, 2010
Cloud computing will make it much easier to steal corporation data, could create a new position called the chief of dis-information .
Cloud computing will make it much easier to steal corporation data, could create a new position called the chief of dis-information .
Cloud computing will introduce many new levels of security attack that could be undetectable.
1) invade cloud system
2) invade any client system
3) invade major business system
4) infiltrate the cloud security system
Corporations may need to have a separate secure system and feed dis-information into their cloud database to fool spys and to detect when information is being leaked.
New unplanned consequence of overpaying executives is they have more money than they need in just two or three years so they retire like the Phizer executive.
We must not only cease our present desire for the growth of the state, but we must desire its decrease, its weakening. Government is an association of men who do violence to the rest of us. L. Tolstoy
Socialism is the government of the people by the leftists for the laziest of the leftist. If you rob Peter to pay Paul, Paul doesn't need to work so he will vote for you but next year you need to rob Mathew as well as Peter to make up for growing general unemployment and more government workers to pay.
Government can never redistribute wealth for any long period of time it can only impoverish everyone when it tries. A leftist ELCA run University could, if it is disturbed by the fact that so many minorities get low grades and drop out of school, it could consider the following type of logic. Why not give a full scholarship to those who fail every subject, 50% for a D average, 25% for a C average, and nothing for brighter students who signs of responsibility or a work ethic. Those A and B students really are capable of finding work or a loan so that they can attend anyway. The net result is that the brighter student can still beat the dumb and lazy because they know the right answers to the tests while the dumbest and laziest students have only a 50% chance of getting a true/false answer correct. The bright students can always beat the lazy and dumb because the A student is capable of getting only 90% right so he can put down 90 wrong answers if that is all it takes to get them a free education.
So in socialist countries where everyone is entitled to all they can eat, a house, a car, and job we see how it ends up. In East Germany and Russia they went hungry, lived in the same unpainted house for 50 years, had Trabat type cars that were like driving a smoky lawn mower, but usually could there was no gasoline. They just pretended to have a real job, and the government printed money to pay them. In Red China they had starvation, lived in huts, rode bicycles, used human powered rickshaws, and were employed as serfs and virtual slaves. Today Germany is united and a powerhouse. Russia is no longer a criminal communist state it is just criminal, and China has freed up their economy and is doing much better but there is a real doubt about the government that imprisons anyone how tries to look at the company financial statements. They government may still have mentally unstable criminal communist leaders like the N Koreans. China could end up as another Cambodia and murder everyone who is succeeding in their economic boom.
When Communists do not become free but only experiment with private property they have a tendency to go to gangster government or relapse and become homicidal.
World Markets:
Chinese economic data may be entirely fraudulent now. There is no way to know anymore. China imprisoned an American with an eight-year sentence because he was in China doing investor research to see if the balance sheets and income statements were truth or a fraud. Seeking truth is now apparently a criminal offense in China. That means that we can no longer trust any Chinese financial reports because fraud in China cannot be reported. That means any investing in China could result in 100% losses when their bubble of Ponzi schemes and other fraud breaks. We would advise getting out of the Chinese markets until all Wall Street reporters are freed from China's prisons.
If there is no transparency and no independent verification allowed in China that means their whole system may be based on fraud. China may now be in danger of a stock market collapse because they find it necessary to lock up the people who try to verify the corporation data. It could be the biggest scam ever perpetrated. China could walk away with much more than they would lose if Obama defaults on the treasury debt they hold.
Economic Calendar
The news is that our economy is still bouncing along the bottom except in manufacturing and retail sales that are nearly fully recovered. Planned layoff have risen sharply again.
Last week
Nonfarm Payrolls Nov up only 39K down from 172Klast month. Very bad
Nonfarm Private Payrolls Nov up only 50K down from 160Klast month. Very bad
Unemployment Rate Nov increased to 9.8% from 9.6%. Very bad
Hourly Earnings Nov no change, down from a 0.2% increase the last time. Deflationary and bad
Average Workweek Nov 34.3 hrs unchanged. Flat recovery
Factory Orders Oct down -0.9% after being up 2.1% last month. Very bad
ISM Services Nov at 55 up slightly from 54.3 last month. Slight improvement.
This week
Consumer Credit Oct
MBA Mortgage Applications 12/03
Crude Inventories 12/04
Initial Claims 12/04
Continuing Claims 11/27 -
Wholesale Inventories Oct
Trade Balance Oct
Export Prices ex-ag. Nov
Import Prices ex-oil Nov
Mich Sentiment Dec
Treasury Budget Nov
Market Outlook Dec 6, 2010
The cause of each of the sixteen or so economic bubble bursts that America has endured since 1776 has always been slightly different. It has ranged from private banks, to central banks, to railroad busts, cornering futures markets to the recent Senate Banking Committee corruption of requiring loans to people of Obama's race with don't ask don't tell credit verification. If you asked questions Freddie and Fannie would not guarantee the mortgage. Of course we taxpayer's still do not know our liabilities and the situation is getting worse. The housing market is slowly collapsing because the FED is not buying that junk. We expect the next depression will be caused by the current socialist government's debt policies.
Once again the GE/MSNBC/Pravda hucksters are lying to the public to get people to buy at the end of the year so that they improve Obama's appearance. The data continues to show that while retail and manufacturing have had significant recovery months ago, the housing and employment figures indicate the economy has been bouncing along the bottom.
The stock market has bounced back up through the 21 Day moving average resistance level but not to the recent high resistance level. The U.S. market continues in narrow trading range. Today we could test the upper range again. If there is no dramatic breakout the market probably will stay in a relatively high range until the end of December and then drop significantly. Bonds have started taking a beating from the FED and that beating will go on through much of next year. The people who lost their shirts on stocks went into bonds after 2008. Now as they lose their pants in Bonds they seem to want stocks again. Once the bond decline accelerates stocks should plummet. So later next year could be good for stocks until all the losers get back into stocks near the high. The economy will not turn around until the state and federal work forces are substantially reduced.
World Markets
Asian markets were mixed last night. China's market was up 0.5%, Hong Kong down -0.4%, India up 0.1%, and Japan down -0.1%.
European markets are flat this morning in a range of about -0.2% to +0.3% half way through their day.
US pre-market futures are down about -0.3% at 9 AM EST.
Cloud computing will introduce many new levels of security attack that could be undetectable.
1) invade cloud system
2) invade any client system
3) invade major business system
4) infiltrate the cloud security system
Corporations may need to have a separate secure system and feed dis-information into their cloud database to fool spys and to detect when information is being leaked.
New unplanned consequence of overpaying executives is they have more money than they need in just two or three years so they retire like the Phizer executive.
We must not only cease our present desire for the growth of the state, but we must desire its decrease, its weakening. Government is an association of men who do violence to the rest of us. L. Tolstoy
Socialism is the government of the people by the leftists for the laziest of the leftist. If you rob Peter to pay Paul, Paul doesn't need to work so he will vote for you but next year you need to rob Mathew as well as Peter to make up for growing general unemployment and more government workers to pay.
Government can never redistribute wealth for any long period of time it can only impoverish everyone when it tries. A leftist ELCA run University could, if it is disturbed by the fact that so many minorities get low grades and drop out of school, it could consider the following type of logic. Why not give a full scholarship to those who fail every subject, 50% for a D average, 25% for a C average, and nothing for brighter students who signs of responsibility or a work ethic. Those A and B students really are capable of finding work or a loan so that they can attend anyway. The net result is that the brighter student can still beat the dumb and lazy because they know the right answers to the tests while the dumbest and laziest students have only a 50% chance of getting a true/false answer correct. The bright students can always beat the lazy and dumb because the A student is capable of getting only 90% right so he can put down 90 wrong answers if that is all it takes to get them a free education.
So in socialist countries where everyone is entitled to all they can eat, a house, a car, and job we see how it ends up. In East Germany and Russia they went hungry, lived in the same unpainted house for 50 years, had Trabat type cars that were like driving a smoky lawn mower, but usually could there was no gasoline. They just pretended to have a real job, and the government printed money to pay them. In Red China they had starvation, lived in huts, rode bicycles, used human powered rickshaws, and were employed as serfs and virtual slaves. Today Germany is united and a powerhouse. Russia is no longer a criminal communist state it is just criminal, and China has freed up their economy and is doing much better but there is a real doubt about the government that imprisons anyone how tries to look at the company financial statements. They government may still have mentally unstable criminal communist leaders like the N Koreans. China could end up as another Cambodia and murder everyone who is succeeding in their economic boom.
When Communists do not become free but only experiment with private property they have a tendency to go to gangster government or relapse and become homicidal.
World Markets:
Chinese economic data may be entirely fraudulent now. There is no way to know anymore. China imprisoned an American with an eight-year sentence because he was in China doing investor research to see if the balance sheets and income statements were truth or a fraud. Seeking truth is now apparently a criminal offense in China. That means that we can no longer trust any Chinese financial reports because fraud in China cannot be reported. That means any investing in China could result in 100% losses when their bubble of Ponzi schemes and other fraud breaks. We would advise getting out of the Chinese markets until all Wall Street reporters are freed from China's prisons.
If there is no transparency and no independent verification allowed in China that means their whole system may be based on fraud. China may now be in danger of a stock market collapse because they find it necessary to lock up the people who try to verify the corporation data. It could be the biggest scam ever perpetrated. China could walk away with much more than they would lose if Obama defaults on the treasury debt they hold.
Economic Calendar
The news is that our economy is still bouncing along the bottom except in manufacturing and retail sales that are nearly fully recovered. Planned layoff have risen sharply again.
Last week
Nonfarm Payrolls Nov up only 39K down from 172Klast month. Very bad
Nonfarm Private Payrolls Nov up only 50K down from 160Klast month. Very bad
Unemployment Rate Nov increased to 9.8% from 9.6%. Very bad
Hourly Earnings Nov no change, down from a 0.2% increase the last time. Deflationary and bad
Average Workweek Nov 34.3 hrs unchanged. Flat recovery
Factory Orders Oct down -0.9% after being up 2.1% last month. Very bad
ISM Services Nov at 55 up slightly from 54.3 last month. Slight improvement.
This week
Consumer Credit Oct
MBA Mortgage Applications 12/03
Crude Inventories 12/04
Initial Claims 12/04
Continuing Claims 11/27 -
Wholesale Inventories Oct
Trade Balance Oct
Export Prices ex-ag. Nov
Import Prices ex-oil Nov
Mich Sentiment Dec
Treasury Budget Nov
Market Outlook Dec 6, 2010
The cause of each of the sixteen or so economic bubble bursts that America has endured since 1776 has always been slightly different. It has ranged from private banks, to central banks, to railroad busts, cornering futures markets to the recent Senate Banking Committee corruption of requiring loans to people of Obama's race with don't ask don't tell credit verification. If you asked questions Freddie and Fannie would not guarantee the mortgage. Of course we taxpayer's still do not know our liabilities and the situation is getting worse. The housing market is slowly collapsing because the FED is not buying that junk. We expect the next depression will be caused by the current socialist government's debt policies.
Once again the GE/MSNBC/Pravda hucksters are lying to the public to get people to buy at the end of the year so that they improve Obama's appearance. The data continues to show that while retail and manufacturing have had significant recovery months ago, the housing and employment figures indicate the economy has been bouncing along the bottom.
The stock market has bounced back up through the 21 Day moving average resistance level but not to the recent high resistance level. The U.S. market continues in narrow trading range. Today we could test the upper range again. If there is no dramatic breakout the market probably will stay in a relatively high range until the end of December and then drop significantly. Bonds have started taking a beating from the FED and that beating will go on through much of next year. The people who lost their shirts on stocks went into bonds after 2008. Now as they lose their pants in Bonds they seem to want stocks again. Once the bond decline accelerates stocks should plummet. So later next year could be good for stocks until all the losers get back into stocks near the high. The economy will not turn around until the state and federal work forces are substantially reduced.
World Markets
Asian markets were mixed last night. China's market was up 0.5%, Hong Kong down -0.4%, India up 0.1%, and Japan down -0.1%.
European markets are flat this morning in a range of about -0.2% to +0.3% half way through their day.
US pre-market futures are down about -0.3% at 9 AM EST.
Friday, December 3, 2010
This morning Alan Greenspan said the recovery is not happening because the FED and other treasuries (e.g. Britain) are crowding out the private sector
This morning Alan Greenspan said the recovery is not happening because the FED and other treasuries (e.g. Britain) are selling so much debt that they are crowding out the private sector.
We must not only cease our present desire for the growth of the state, but we must desire its decrease, its weakening. Government is an association of men who do violence to the rest of us. L. Tolstoy
U.S. Prisoners Claim $130M in Tax Refunds thanks to the Obama socialist negative tax rate on the lazy, illegal, and the criminals. Pelosi says that is how leftists think we can best stimulate the economy. According to them lowering taxes on the people who create jobs just takes money away from the lazy and the criminals who stimulate the economy. The Obama socialists did not get a clear enough message from the voters.
American taxpayers are the new minority and it is therefore no longer considered racism for this powerless minority (American taxpayers) to protest that Obama is the most racist as well as the dumbest president in American history.
Trial lawyers are heavily involved in government corruption and insurance fraud. If we want to fix the health system we have to get rid of many trial Lawyers and stop the fraud. We Americans have more lawyers per capita than any country in socialist Europe.
When 60 Minutes staged a bus accident in New Jersey a few years back, all the actors got off the bus and the bus filled up with people (mostly of Obama's heritage) who heard about the accident and lied on TV and complained about their subsequent injuries. They quickly had a bus full of fraud. Those people do that because a trial lawyer will net them $30,000 to $50,000 or more every time often out of court. Missouri is the worst state for corrupt judges who give the highest awards.
World Markets:
China imprisoned an American with an eight-year sentence because he was in China doing investor research to see if the balance sheets and income statements were truth or a fraud. Seeking truth is now apparently a criminal offense in China. That means that those of us can no longer trust any Chinese financial reports because fraud in China cannot be reported. That means any investing in China could result in 100% losses when their bubble of Ponzi schemes and other fraud breaks. We would advise getting out of the Chinese markets until all Wall Street reporters are freed from China's prisons.
If there is no transparency and no independent verification allowed in China that means their whole system may be based on fraud. China may now be in danger of a stock market collapse because they find it necessary to lock up the people who try to verify the corporation data. It could be the biggest scam ever perpetrated. China could walk away with much more than they would lose if Obama defaults on the treasury debt they hold.
Economic Calendar
The news is that our economy is still bouncing along the bottom except in manufacturing and retail sales that are nearly fully recovered. Planned layoff have risen sharply again.
This Week
Case-Shiller 20-city Index Sep rose only 0.5% year over year after being up 1.7% year over year last month showing weakness in housing prices. Very bad.
Chicago PMI Nov rose to 62.5 from 60.6 showing increased confidence of Chicago purchasing managers. Managers glad to see socialists lose the election.
Consumer Confidence Nov rose to 54.1% from 50.2% consumers glad to see socialists lose the election.
MBA Mortgage Applications 11/26 down -16.5% after being up 2.1%. Extremely bad
Challenger Job Cuts (y/y) Nov announced 48,711 planned job cuts last month, up 28 percent from 37,986 in October. Very bad employment news for next few months.
ADP Employment Report Nov 93K after 82K last month. Tepid hiring
Productivity-Rev. Q3 up 2.3% slightly better than up 1.9% last quarter
Unit Labor Costs Q3 down 0.1% same as last quarter. Deflation is not good
ISM Index Nov at 56.6 vs 56.9 last month. Manufacturing in decline is not good.
Construction Spending Oct still at 0.7%. No improvement yet.
Crude inventories 11/27 - at 1.07M no change.
Auto Sales Nov rose 17% from the depressed levels of a year ago.
Truck Sales Nov rose 21% from the depressed levels of a year ago.
Fed's Beige Book Dec shows slight improvement in most sectors but financials and housing are still in decline.
Yesterday
Continuing Claims 11/20 rose to 4270K from 4182K even as unemployment is running out. Bad
Initial Claims 11/27 rose to 436K from 407K. Bad
Pending Home Sales Oct rose 10.4% from being down -1.8% the last month. Slight improvement.
http://www.martincapital.com/chart-pgs/Pg_existinghms.htm
Today
Nonfarm Payrolls Nov up only 39K down from 172K
Nonfarm Private Payrolls Nov up only 50K down from 160K
Unemployment Rate Nov increased to 9.8% from 9,6%
Hourly Earnings Nov no change, down from a 0.2$ increase the last time
Average Workweek Nov 34.3 hrs unchanged
Dec 3 10:00 AM Factory Orders Oct down -0.9% after being up 2.1% last month
Dec 3 10:00 AM ISM Services Nov at 55 up slightly from 54.3 last month.
Market Outlook Dec 3, 2010
The weak jobs reports hit futures at 8:30
This morning Alan Greenspan said the recovery is not happening because the FED and other treasuries (Britain) are selling so much debt that they are crowding out the private sector.
The high cash balances now are due to fear primarily fear of the new Obama regulations. For instance rating agencies can now be fined when their ratings are wrong so when Ford first tried to raise cash, they couldn't because no company would rate them.
Also Alan Greenspan said the recovery would not pick up significantly until Obama wakes up and has the banks resolve the real estate meltdown by rewriting the mortgages. He said the unemployment data had too much variance
Once again the GE/MSNBC/Pravda hucksters are again lying to the public to get people to buy at the end of the year so that they improve Obama's appearance. The data continues to show that while retail and manufacturing have had a significant recovery months ago, the housing and employment figures show the economy has been bouncing along the bottom.
The stock market has bounced back up against the 21 Day moving average resistance level. The U.S. market continues in narrow trading range. Today we test the upper range again. If there is no dramatic breakout the market probably will stay relatively high until the end of December and then drop significantly.
http://www.streetsmartpost.com/
Obama wants to eliminate the middle class mortgage interest expense reduction and further destroy the housing industry and the middle class. Obama has wasted two years giving away America's billions to the lazy and derelict voters who supported his socialism. Now he needs more money to continue his waste. He is the president for the liars, corrupt black panther goons, Acorn, sexual deviates who gave us Wiki Treason, thieves who gave themselves $billions in exchange for the Senate Banking Commission/ Freddie Mac handouts to Obama's home folk and finally his many supporters who have had no visible means of support for the past ten years (drugs and hustling).
World Markets
Asian markets were down slightly last night. China's market was down -0.1%, Hong Kong down -0.6%, India down -0.1%, and Japan up 0.1%.
European markets are down this morning in a range of about -0.4% to -0.5% half way through their day.
US pre-market futures were up about -0.5% at 8:30 AM EST.
We must not only cease our present desire for the growth of the state, but we must desire its decrease, its weakening. Government is an association of men who do violence to the rest of us. L. Tolstoy
U.S. Prisoners Claim $130M in Tax Refunds thanks to the Obama socialist negative tax rate on the lazy, illegal, and the criminals. Pelosi says that is how leftists think we can best stimulate the economy. According to them lowering taxes on the people who create jobs just takes money away from the lazy and the criminals who stimulate the economy. The Obama socialists did not get a clear enough message from the voters.
American taxpayers are the new minority and it is therefore no longer considered racism for this powerless minority (American taxpayers) to protest that Obama is the most racist as well as the dumbest president in American history.
Trial lawyers are heavily involved in government corruption and insurance fraud. If we want to fix the health system we have to get rid of many trial Lawyers and stop the fraud. We Americans have more lawyers per capita than any country in socialist Europe.
When 60 Minutes staged a bus accident in New Jersey a few years back, all the actors got off the bus and the bus filled up with people (mostly of Obama's heritage) who heard about the accident and lied on TV and complained about their subsequent injuries. They quickly had a bus full of fraud. Those people do that because a trial lawyer will net them $30,000 to $50,000 or more every time often out of court. Missouri is the worst state for corrupt judges who give the highest awards.
World Markets:
China imprisoned an American with an eight-year sentence because he was in China doing investor research to see if the balance sheets and income statements were truth or a fraud. Seeking truth is now apparently a criminal offense in China. That means that those of us can no longer trust any Chinese financial reports because fraud in China cannot be reported. That means any investing in China could result in 100% losses when their bubble of Ponzi schemes and other fraud breaks. We would advise getting out of the Chinese markets until all Wall Street reporters are freed from China's prisons.
If there is no transparency and no independent verification allowed in China that means their whole system may be based on fraud. China may now be in danger of a stock market collapse because they find it necessary to lock up the people who try to verify the corporation data. It could be the biggest scam ever perpetrated. China could walk away with much more than they would lose if Obama defaults on the treasury debt they hold.
Economic Calendar
The news is that our economy is still bouncing along the bottom except in manufacturing and retail sales that are nearly fully recovered. Planned layoff have risen sharply again.
This Week
Case-Shiller 20-city Index Sep rose only 0.5% year over year after being up 1.7% year over year last month showing weakness in housing prices. Very bad.
Chicago PMI Nov rose to 62.5 from 60.6 showing increased confidence of Chicago purchasing managers. Managers glad to see socialists lose the election.
Consumer Confidence Nov rose to 54.1% from 50.2% consumers glad to see socialists lose the election.
MBA Mortgage Applications 11/26 down -16.5% after being up 2.1%. Extremely bad
Challenger Job Cuts (y/y) Nov announced 48,711 planned job cuts last month, up 28 percent from 37,986 in October. Very bad employment news for next few months.
ADP Employment Report Nov 93K after 82K last month. Tepid hiring
Productivity-Rev. Q3 up 2.3% slightly better than up 1.9% last quarter
Unit Labor Costs Q3 down 0.1% same as last quarter. Deflation is not good
ISM Index Nov at 56.6 vs 56.9 last month. Manufacturing in decline is not good.
Construction Spending Oct still at 0.7%. No improvement yet.
Crude inventories 11/27 - at 1.07M no change.
Auto Sales Nov rose 17% from the depressed levels of a year ago.
Truck Sales Nov rose 21% from the depressed levels of a year ago.
Fed's Beige Book Dec shows slight improvement in most sectors but financials and housing are still in decline.
Yesterday
Continuing Claims 11/20 rose to 4270K from 4182K even as unemployment is running out. Bad
Initial Claims 11/27 rose to 436K from 407K. Bad
Pending Home Sales Oct rose 10.4% from being down -1.8% the last month. Slight improvement.
http://www.martincapital.com/chart-pgs/Pg_existinghms.htm
Today
Nonfarm Payrolls Nov up only 39K down from 172K
Nonfarm Private Payrolls Nov up only 50K down from 160K
Unemployment Rate Nov increased to 9.8% from 9,6%
Hourly Earnings Nov no change, down from a 0.2$ increase the last time
Average Workweek Nov 34.3 hrs unchanged
Dec 3 10:00 AM Factory Orders Oct down -0.9% after being up 2.1% last month
Dec 3 10:00 AM ISM Services Nov at 55 up slightly from 54.3 last month.
Market Outlook Dec 3, 2010
The weak jobs reports hit futures at 8:30
This morning Alan Greenspan said the recovery is not happening because the FED and other treasuries (Britain) are selling so much debt that they are crowding out the private sector.
The high cash balances now are due to fear primarily fear of the new Obama regulations. For instance rating agencies can now be fined when their ratings are wrong so when Ford first tried to raise cash, they couldn't because no company would rate them.
Also Alan Greenspan said the recovery would not pick up significantly until Obama wakes up and has the banks resolve the real estate meltdown by rewriting the mortgages. He said the unemployment data had too much variance
Once again the GE/MSNBC/Pravda hucksters are again lying to the public to get people to buy at the end of the year so that they improve Obama's appearance. The data continues to show that while retail and manufacturing have had a significant recovery months ago, the housing and employment figures show the economy has been bouncing along the bottom.
The stock market has bounced back up against the 21 Day moving average resistance level. The U.S. market continues in narrow trading range. Today we test the upper range again. If there is no dramatic breakout the market probably will stay relatively high until the end of December and then drop significantly.
http://www.streetsmartpost.com/
Obama wants to eliminate the middle class mortgage interest expense reduction and further destroy the housing industry and the middle class. Obama has wasted two years giving away America's billions to the lazy and derelict voters who supported his socialism. Now he needs more money to continue his waste. He is the president for the liars, corrupt black panther goons, Acorn, sexual deviates who gave us Wiki Treason, thieves who gave themselves $billions in exchange for the Senate Banking Commission/ Freddie Mac handouts to Obama's home folk and finally his many supporters who have had no visible means of support for the past ten years (drugs and hustling).
World Markets
Asian markets were down slightly last night. China's market was down -0.1%, Hong Kong down -0.6%, India down -0.1%, and Japan up 0.1%.
European markets are down this morning in a range of about -0.4% to -0.5% half way through their day.
US pre-market futures were up about -0.5% at 8:30 AM EST.
Thursday, December 2, 2010
Trial lawyers are heavily involved in government corruption and insurance fraud.
Trial lawyers are heavily involved in government corruption and insurance fraud. If we want to fix the health system we have to get rid of the trial Lawyers and stop the fraud. We Americans have more lawyers per capita than any country in socialist Europe.
When 60Minutes staged a bus accident in New Jersey a few years back all the actors got off the bus and the bus filled up with people (mostly of Obama's heritage) who heard about the accident and lied on TV and complained about their subsequent injuries. They had a bus full of fraud.
Trial lawyers make five times as much fraud money by getting insurance companies to settle out of court. They advise their clients that if they are not seen to be in great pain they are not seen as deserving a great settlement. That is no lie but sends the message that faking injury is very important. The courts sometimes support the fraud when the faker owes the state prison system and the courts a lot of money. A former felon who lives from one injury settlement to the next may get a $150,000 settlement which gets the trial lawyer $50,000 for two days work, the court takes $40,000, child support takes $20,000 leaving the felon with a $40,000 profit.
The US postal system is a target of criminal fraud, by trial lawyers their clients who wait for the mail trucks to pull out and then pull in front of the mail truck and stop quickly. The US government pays quickly and does not challenge this fraud because most of the perpetrators are of the same race as Obama. This is how Obama gets reparations for his people without any accounting for how much it costs taxpayers. This is why Obama and others in the new majority of American indigents and criminals favor socialism. Socialism pays off and does not ask questions. The trial lawyers are fleecing the American Taxpayers. 10% of Americans get more money back than they pay in taxes. In addition more than 40% of the workers pay no net taxes. That means the American taxpayers are the new minority and it is therefore no longer considered racism for the powerless minority (American taxpayers) to protest that Obama is the most racist as well as the dumbest president in American history.
The average fraud perpetrator has three false claims that don't show up in any court records because they settle out of court. When someone does take them to court the previous frauds are all inadmissible evidence. It is just like how thousands of drunk drivers get caught but never convicted because the jurors think it is a first time mistake each time because the previous arrests are inadmissible because there was no conviction. Accident records would help identify accident fraud. The Attorneys keep records of suits against doctors and just one suit now drives a doctor out of business because that doctor with a record now is a lightening rod for false insurance claims. So his insurance rate goes up so fast he is instantly out of business. We need public records of lawyers who encourage client fraud with a record of the individuals and their lawyers that report more than one accident with injuries within a five-year period. Many of you know (as we do) someone or even several persons who have filed several serious injury claims and has no other visible means of support yet skies or sometimes does heavy lifting and shows no pain except when they file a new claim. Once in a while one has an operation and then they claim the surgeon injured them. I am sure many of you know this problem is rampant in the USA and is a major problem for the medical profession that Obamacare will only aggravate.
World Markets:
Quantitative Easing is something the USA discovered during the economic depression that followed the Revolutionary War. About 3% inflation was then set for sustainable growth. The "cross of gold" was repudiated in many elections before President Nixon took America off the gold standard. Perhaps that is the misunderstanding socialists and communists have. The real value of gold goes down as more gold is mined. It only appears to increase when money is devalued. But corporations increase more in real value due to the relative decrease in the value of currencies. Gold and diamond are primarily a way to hold value when an Adolf Hitler or a Stalin rises, or a Kim Jong-il decides to destroy Beijing with an ICBM.
China imprisoned an American with an eight-year sentence because he was in China doing investor research to see if the balance sheets and income statements were truth or a fraud. Seeking truth is now apparently a criminal offense in China. That means that those of us can no longer trust any Chinese financial reports because fraud in China cannot be reported. That means any investing in China could result in 100% losses when their bubble of Ponzi schemes and other fraud breaks. We would advise getting out of the Chinese markets until all Wall Street reporters are freed from China's prisons. If there is no transparency and no independent verification allowed in China that means their whole system may be based on fraud.
Economic Calendar
The news is we are still bouncing along the bottom except in manufacturing and retail sales that are nearly fully recovered. Planned layoff have risen sharply again.
Yesterday
Case-Shiller 20-city Index Sep rose only 0.5% year over year after being up 1.7% year over year last month showing weakness in housing prices. Very bad.
Chicago PMI Nov rose to 62.5 from 60.6 showing increased confidence of Chicago purchasing managers. Managers glad to see socialists lose the election.
Consumer Confidence Nov rose to 54.1% from 50.2% consumers glad to see socialists lose the election.
Today
Dec 1 7:00 AM MBA Mortgage Applications 11/26 down -16.5% after being up 2.1%. Extremely bad
Dec 1 7:30 AM Challenger Job Cuts (y/y) Nov announced 48,711 planned job cuts last month, up 28 percent from 37,986 in October. Very bad employment news for next few months.
Dec 1 8:15 AM ADP Employment Report Nov 93K after 82K last month. Tepid hiring
Dec 1 8:30 AM Productivity-Rev. Q3 up 2.3% slightly better than up 1.9% last quarter
Dec 1 8:30 AM Unit Labor Costs Q3 down 0.1% same as last quarter. Deflation is not good
Dec 1 10:00 AM ISM Index Nov at 56.6 vs 56.9 last month. Manufacturing in decline is not good.
Dec 1 10:00 AM Construction Spending Oct still at 0.7%. No improvement yet.
Dec 1 10:30 AM Crude Inventories 11/27 - at 1.07M no change.
Dec 1 2:00 PM Auto Sales Nov rose 17% from the depressed levels of a year ago.
Dec 1 2:00 PM Truck Sales Nov rose 21% from the depressed levels of a year ago.
Dec 1 2:00 PM Fed's Beige Book Dec shows slight improvement in most sectors but financials and housing are still in decline.
This Week
Dec 2 8:30 AM Continuing Claims 11/20
Dec 2 8:30 AM Initial Claims 11/27
Dec 2 10:00 AM Pending Home Sales Oct
Dec 3 8:30 AM Nonfarm Payrolls Nov
Dec 3 8:30 AM Nonfarm Private Payrolls Nov
Dec 3 8:30 AM Unemployment Rate Nov
Dec 3 8:30 AM Hourly Earnings Nov
Dec 3 8:30 AM Average Workweek Nov
Dec 3 10:00 AM Factory Orders Oct
Dec 3 10:00 AM ISM Services Nov
Market Outlook Dec 2, 2010
The market has bounced back up against the 21 Day moving average resistance level StreetSmart follows.
The U.S. market continues in narrow trading range. Today we test the upper range again.
http://www.streetsmartpost.com/
Most of the good news is still due to Americans being more optimistic now that the socialists lost the election. It says we are bouncing still along the bottom but not yet in recovery. However retail sales and manufacturing appear to have recovered fully.
http://www.martincapital.com/chart-pgs/Pg_hous.htm
This past year seems like a cross between 2003 and 1975. 2003 ended the year with the funds buying feverishly to make their 4th quarter bottom line look good and then the market plunged and went horizontal for six months. In 1975 the USA had a president who had played football too long before buying a helmet. He was almost as dumb as Obama. The market was erratic and Americans left investing in the stock market in droves. By the time President Reagan (the gipper) was elected in 1982 two thirds of former American investors had given up on the American stock market.
World Markets
Asian markets were up last night. China's market was up 0.7%, Hong Kong up 0.9%, India up 0.7%, and Japan up 1.8%.
European markets are up this morning in a range of about 0.3% to 0.9% half way through their day.
US pre-market futures were up about 0.5% at 8:00 AM EST.
When 60Minutes staged a bus accident in New Jersey a few years back all the actors got off the bus and the bus filled up with people (mostly of Obama's heritage) who heard about the accident and lied on TV and complained about their subsequent injuries. They had a bus full of fraud.
Trial lawyers make five times as much fraud money by getting insurance companies to settle out of court. They advise their clients that if they are not seen to be in great pain they are not seen as deserving a great settlement. That is no lie but sends the message that faking injury is very important. The courts sometimes support the fraud when the faker owes the state prison system and the courts a lot of money. A former felon who lives from one injury settlement to the next may get a $150,000 settlement which gets the trial lawyer $50,000 for two days work, the court takes $40,000, child support takes $20,000 leaving the felon with a $40,000 profit.
The US postal system is a target of criminal fraud, by trial lawyers their clients who wait for the mail trucks to pull out and then pull in front of the mail truck and stop quickly. The US government pays quickly and does not challenge this fraud because most of the perpetrators are of the same race as Obama. This is how Obama gets reparations for his people without any accounting for how much it costs taxpayers. This is why Obama and others in the new majority of American indigents and criminals favor socialism. Socialism pays off and does not ask questions. The trial lawyers are fleecing the American Taxpayers. 10% of Americans get more money back than they pay in taxes. In addition more than 40% of the workers pay no net taxes. That means the American taxpayers are the new minority and it is therefore no longer considered racism for the powerless minority (American taxpayers) to protest that Obama is the most racist as well as the dumbest president in American history.
The average fraud perpetrator has three false claims that don't show up in any court records because they settle out of court. When someone does take them to court the previous frauds are all inadmissible evidence. It is just like how thousands of drunk drivers get caught but never convicted because the jurors think it is a first time mistake each time because the previous arrests are inadmissible because there was no conviction. Accident records would help identify accident fraud. The Attorneys keep records of suits against doctors and just one suit now drives a doctor out of business because that doctor with a record now is a lightening rod for false insurance claims. So his insurance rate goes up so fast he is instantly out of business. We need public records of lawyers who encourage client fraud with a record of the individuals and their lawyers that report more than one accident with injuries within a five-year period. Many of you know (as we do) someone or even several persons who have filed several serious injury claims and has no other visible means of support yet skies or sometimes does heavy lifting and shows no pain except when they file a new claim. Once in a while one has an operation and then they claim the surgeon injured them. I am sure many of you know this problem is rampant in the USA and is a major problem for the medical profession that Obamacare will only aggravate.
World Markets:
Quantitative Easing is something the USA discovered during the economic depression that followed the Revolutionary War. About 3% inflation was then set for sustainable growth. The "cross of gold" was repudiated in many elections before President Nixon took America off the gold standard. Perhaps that is the misunderstanding socialists and communists have. The real value of gold goes down as more gold is mined. It only appears to increase when money is devalued. But corporations increase more in real value due to the relative decrease in the value of currencies. Gold and diamond are primarily a way to hold value when an Adolf Hitler or a Stalin rises, or a Kim Jong-il decides to destroy Beijing with an ICBM.
China imprisoned an American with an eight-year sentence because he was in China doing investor research to see if the balance sheets and income statements were truth or a fraud. Seeking truth is now apparently a criminal offense in China. That means that those of us can no longer trust any Chinese financial reports because fraud in China cannot be reported. That means any investing in China could result in 100% losses when their bubble of Ponzi schemes and other fraud breaks. We would advise getting out of the Chinese markets until all Wall Street reporters are freed from China's prisons. If there is no transparency and no independent verification allowed in China that means their whole system may be based on fraud.
Economic Calendar
The news is we are still bouncing along the bottom except in manufacturing and retail sales that are nearly fully recovered. Planned layoff have risen sharply again.
Yesterday
Case-Shiller 20-city Index Sep rose only 0.5% year over year after being up 1.7% year over year last month showing weakness in housing prices. Very bad.
Chicago PMI Nov rose to 62.5 from 60.6 showing increased confidence of Chicago purchasing managers. Managers glad to see socialists lose the election.
Consumer Confidence Nov rose to 54.1% from 50.2% consumers glad to see socialists lose the election.
Today
Dec 1 7:00 AM MBA Mortgage Applications 11/26 down -16.5% after being up 2.1%. Extremely bad
Dec 1 7:30 AM Challenger Job Cuts (y/y) Nov announced 48,711 planned job cuts last month, up 28 percent from 37,986 in October. Very bad employment news for next few months.
Dec 1 8:15 AM ADP Employment Report Nov 93K after 82K last month. Tepid hiring
Dec 1 8:30 AM Productivity-Rev. Q3 up 2.3% slightly better than up 1.9% last quarter
Dec 1 8:30 AM Unit Labor Costs Q3 down 0.1% same as last quarter. Deflation is not good
Dec 1 10:00 AM ISM Index Nov at 56.6 vs 56.9 last month. Manufacturing in decline is not good.
Dec 1 10:00 AM Construction Spending Oct still at 0.7%. No improvement yet.
Dec 1 10:30 AM Crude Inventories 11/27 - at 1.07M no change.
Dec 1 2:00 PM Auto Sales Nov rose 17% from the depressed levels of a year ago.
Dec 1 2:00 PM Truck Sales Nov rose 21% from the depressed levels of a year ago.
Dec 1 2:00 PM Fed's Beige Book Dec shows slight improvement in most sectors but financials and housing are still in decline.
This Week
Dec 2 8:30 AM Continuing Claims 11/20
Dec 2 8:30 AM Initial Claims 11/27
Dec 2 10:00 AM Pending Home Sales Oct
Dec 3 8:30 AM Nonfarm Payrolls Nov
Dec 3 8:30 AM Nonfarm Private Payrolls Nov
Dec 3 8:30 AM Unemployment Rate Nov
Dec 3 8:30 AM Hourly Earnings Nov
Dec 3 8:30 AM Average Workweek Nov
Dec 3 10:00 AM Factory Orders Oct
Dec 3 10:00 AM ISM Services Nov
Market Outlook Dec 2, 2010
The market has bounced back up against the 21 Day moving average resistance level StreetSmart follows.
The U.S. market continues in narrow trading range. Today we test the upper range again.
http://www.streetsmartpost.com/
Most of the good news is still due to Americans being more optimistic now that the socialists lost the election. It says we are bouncing still along the bottom but not yet in recovery. However retail sales and manufacturing appear to have recovered fully.
http://www.martincapital.com/chart-pgs/Pg_hous.htm
This past year seems like a cross between 2003 and 1975. 2003 ended the year with the funds buying feverishly to make their 4th quarter bottom line look good and then the market plunged and went horizontal for six months. In 1975 the USA had a president who had played football too long before buying a helmet. He was almost as dumb as Obama. The market was erratic and Americans left investing in the stock market in droves. By the time President Reagan (the gipper) was elected in 1982 two thirds of former American investors had given up on the American stock market.
World Markets
Asian markets were up last night. China's market was up 0.7%, Hong Kong up 0.9%, India up 0.7%, and Japan up 1.8%.
European markets are up this morning in a range of about 0.3% to 0.9% half way through their day.
US pre-market futures were up about 0.5% at 8:00 AM EST.
Wednesday, December 1, 2010
QE2 is something Obama, Karl Marx, and most other socialists could never understand.
QE2 is something Obama, Karl Marx, and most other socialists could never understand. (We wrote about this yesterday and suddenly it is on the talk shows.) They thought free enterprise capitalism was flawed because if profits were removed from the economy via capitalists, then the workers would not have enough to buy back all their products. So eventually they thought inventories would grow and everyone would get laid off (a great depression). The communists never understood economics. First of all the capitalists are not the ancient kings and queens that acquired and held family fortunes. Most of the old aristocracy went broke long ago just as the estates of capitalists also go broke today. JP Morgan is an example of how a capitalist's profits end up in a foundation that helps everyone. Bill Gates will give all his $billions away because he knows that unearned money destroys children and lasts only a generation. Likewise Warren Buffet is another example of free enterprise profits being plowed back into American innovation. It all goes back to the working productive people around the world who create job growth with their profits.
Consumer Confidence Nov rose to 54.1% from 50.2% showing hope has increased since Obama lost dictatorial control of Congress.
Banks and funds are being sued everywhere for the Senate Banking Commission follies. Fannie and Freddie are bags of festering socialist affirmative action merd where people cashed out of mortgages and never paid a cent. It is socialist corruption at its worst and they get away with it. If Obama had made rational decisions over the past two years to clean up banks, restructure debt, and liquidate irresponsible lenders, there is no doubt that we would now be on the course to a sustained recovery.
Trial lawyers make five times as much fraud money by getting insurance companies to settle out of court. The average fraud perpetrator has three false claims that don't show up in any court records because they settle out of court. When someone does take them to court the previous frauds are all inadmissible evidence. It is just like how thousands of drunk drivers get caught but never convicted because the jurors think it is a first time mistake each time because the previous arrests are inadmissible because there was no conviction. Accident records would help identify accident fraud. The Attorneys keep records of suits against doctors and just one suit now drives a doctor out of business because that doctor with a record now is a lightening rod for false insurance claims. So his insurance rate goes up so fast he is instantly out of business. We need public records of lawyers who encourage client fraud with a record of the individuals and their lawyers that report more than one accident with injuries within a five-year period. Many of you know (as we do) someone or even several persons who have filed several serious injury claims and has no other visible means of support yet skies or sometimes does heavy lifting and shows no pain except when they file a new claim. Once in a while one has an operation and then they claim the surgeon injured them. I am sure many of you know this problem is rampant in the USA and is a major problem for the medical profession that Obamacare will only aggravate.
World Markets:
Quantitative Easing is something the USA discovered during the economic depression that followed the Revolutionary War. About 3% inflation was then set for sustainable growth. The "cross of gold" was repudiated in many elections before President Nixon took America off the gold standard. Perhaps that is the misunderstanding socialists and communists have. The real value of gold goes down as more gold is mined. It only appears to increase when money is devalued. But corporations increase more in real value due to the relative decrease in the value of currencies. Gold and diamond are primarily a way to hold value when an Adolf Hitler or a Stalin rises, or a Kim Jong-il decides to destroy Beijing with an ICBM.
Since the German banks and not private sources fund the EU debt, Germany is the chief beneficiary of the EU bailout because Germany then has all profits guaranteed plus a cheaper EURO to further improve their balance of trade. Essentially Germany has always followed British and American devaluation with their own devaluation to maintain a trade advantage as Japan always did and now China does. In effect Quantitative Expansion (QE2) in the USA propagates around the world as every country tries to improve their competitive advantage. If the new bonds do not protect German interests we expect Germany to ask for a much higher rate of return.
Economic Calendar
Yesterday
Case-Shiller 20-city Index Sep rose only 0.5% year over year after being up 1.7% year over year last month showing weakness in housing prices.
Chicago PMI Nov rose to 62.5 from 60.6 showing increased confidence of Chicago purchasing managers.
Consumer Confidence Nov rose to 54.1% from 50.2% showing hope has increased as Obama loses control of Congress.
Today
Dec 1 7:00 AM MBA Mortgage Applications 11/26
Dec 1 7:30 AM Challenger Job Cuts (y/y) Nov
Dec 1 8:15 AM ADP Employment Report Nov
Dec 1 8:30 AM Productivity-Rev. Q3
Dec 1 8:30 AM Unit Labor Costs Q3
Dec 1 10:00 AM ISM Index Nov
Dec 1 10:00 AM Construction Spending Oct
Dec 1 10:30 AM Crude Inventories 11/27 -
Dec 1 2:00 PM Auto Sales Nov
Dec 1 2:00 PM Truck Sales Nov
Dec 1 2:00 PM Fed's Beige Book Dec
This Week
Dec 2 8:30 AM Continuing Claims 11/20
Dec 2 8:30 AM Initial Claims 11/27
Dec 2 10:00 AM Pending Home Sales Oct
Dec 3 8:30 AM Nonfarm Payrolls Nov
Dec 3 8:30 AM Nonfarm Private Payrolls Nov
Dec 3 8:30 AM Unemployment Rate Nov
Dec 3 8:30 AM Hourly Earnings Nov
Dec 3 8:30 AM Average Workweek Nov
Dec 3 10:00 AM Factory Orders Oct
Dec 3 10:00 AM ISM Services Nov
Market Outlook Dec 1, 2010
This past year seems like a cross between 2003 and 1975. 2003 ended the year with the funds buying feverishly to make their 4th quarter bottom line look good and then the market plunged and went horizontal for six months. In 1975 the USA had a president who had played football too long before buying a helmet. He was almost as dumb as Obama. The market was erratic and Americans left investing in the stock market in droves. By the time President Reagan (the gipper) was elected in 1982 two thirds of former American investors had given up on the American stock market.
Based on the cash flow out of the market it looks like at least one or more additional consolidation periods may be needed for the bull market to resume. Without real economic growth there is a limit to how much further corporate profits can rise. Obama socialism makes Americans know that things can only get worse in the long run. Obama socialists and the democrats still have not gotten the message. Americans do not like the socialist pickpockets much less airport gropers or sexual deviates allowed in the military. Impeach the judges who want an American army of sexual deviates.
Historically the socialists first encourage and then they discretely kill all the sexual deviates the moment they can quietly get away with it. That has been the way it went in Nationalist Socialist Germany, the USSR, and in early Red China. Hitler purged his Nationalist Socialist in one night, the night of the "long knives". The lesser-known deviates disappeared into socialist work camps. Socialist totalitarianism and sexual deviation do not mix. Once creeping socialism begins its cradle to grave control, a lot of people end up in the graves. Hitler killed 20 million civilians; half were Germans. Russia just this past weekend admitted Stalin killed the 20,000 Polish leaders in 1941 and then blamed it on Hitler. Obama always blames everyone else too. They claim Stalin killed about 80million of his own people in the USSR and the Mao killed over 200 million Chinese to control his peoples. The socialist in Cambodia killed everyone with an education in their country because they wanted to have no one familiar with western democracy.
World Markets
Asian markets were up last night. China's market was up 0.1%, Hong Kong up 1.1%, India up 1.7%, and Japan up 0.5%.
European markets are up this morning in a range of about 0.3% to 1.9% half way through their day.
US pre-market futures were up about 1% at 7:30 AM EST.
Consumer Confidence Nov rose to 54.1% from 50.2% showing hope has increased since Obama lost dictatorial control of Congress.
Banks and funds are being sued everywhere for the Senate Banking Commission follies. Fannie and Freddie are bags of festering socialist affirmative action merd where people cashed out of mortgages and never paid a cent. It is socialist corruption at its worst and they get away with it. If Obama had made rational decisions over the past two years to clean up banks, restructure debt, and liquidate irresponsible lenders, there is no doubt that we would now be on the course to a sustained recovery.
Trial lawyers make five times as much fraud money by getting insurance companies to settle out of court. The average fraud perpetrator has three false claims that don't show up in any court records because they settle out of court. When someone does take them to court the previous frauds are all inadmissible evidence. It is just like how thousands of drunk drivers get caught but never convicted because the jurors think it is a first time mistake each time because the previous arrests are inadmissible because there was no conviction. Accident records would help identify accident fraud. The Attorneys keep records of suits against doctors and just one suit now drives a doctor out of business because that doctor with a record now is a lightening rod for false insurance claims. So his insurance rate goes up so fast he is instantly out of business. We need public records of lawyers who encourage client fraud with a record of the individuals and their lawyers that report more than one accident with injuries within a five-year period. Many of you know (as we do) someone or even several persons who have filed several serious injury claims and has no other visible means of support yet skies or sometimes does heavy lifting and shows no pain except when they file a new claim. Once in a while one has an operation and then they claim the surgeon injured them. I am sure many of you know this problem is rampant in the USA and is a major problem for the medical profession that Obamacare will only aggravate.
World Markets:
Quantitative Easing is something the USA discovered during the economic depression that followed the Revolutionary War. About 3% inflation was then set for sustainable growth. The "cross of gold" was repudiated in many elections before President Nixon took America off the gold standard. Perhaps that is the misunderstanding socialists and communists have. The real value of gold goes down as more gold is mined. It only appears to increase when money is devalued. But corporations increase more in real value due to the relative decrease in the value of currencies. Gold and diamond are primarily a way to hold value when an Adolf Hitler or a Stalin rises, or a Kim Jong-il decides to destroy Beijing with an ICBM.
Since the German banks and not private sources fund the EU debt, Germany is the chief beneficiary of the EU bailout because Germany then has all profits guaranteed plus a cheaper EURO to further improve their balance of trade. Essentially Germany has always followed British and American devaluation with their own devaluation to maintain a trade advantage as Japan always did and now China does. In effect Quantitative Expansion (QE2) in the USA propagates around the world as every country tries to improve their competitive advantage. If the new bonds do not protect German interests we expect Germany to ask for a much higher rate of return.
Economic Calendar
Yesterday
Case-Shiller 20-city Index Sep rose only 0.5% year over year after being up 1.7% year over year last month showing weakness in housing prices.
Chicago PMI Nov rose to 62.5 from 60.6 showing increased confidence of Chicago purchasing managers.
Consumer Confidence Nov rose to 54.1% from 50.2% showing hope has increased as Obama loses control of Congress.
Today
Dec 1 7:00 AM MBA Mortgage Applications 11/26
Dec 1 7:30 AM Challenger Job Cuts (y/y) Nov
Dec 1 8:15 AM ADP Employment Report Nov
Dec 1 8:30 AM Productivity-Rev. Q3
Dec 1 8:30 AM Unit Labor Costs Q3
Dec 1 10:00 AM ISM Index Nov
Dec 1 10:00 AM Construction Spending Oct
Dec 1 10:30 AM Crude Inventories 11/27 -
Dec 1 2:00 PM Auto Sales Nov
Dec 1 2:00 PM Truck Sales Nov
Dec 1 2:00 PM Fed's Beige Book Dec
This Week
Dec 2 8:30 AM Continuing Claims 11/20
Dec 2 8:30 AM Initial Claims 11/27
Dec 2 10:00 AM Pending Home Sales Oct
Dec 3 8:30 AM Nonfarm Payrolls Nov
Dec 3 8:30 AM Nonfarm Private Payrolls Nov
Dec 3 8:30 AM Unemployment Rate Nov
Dec 3 8:30 AM Hourly Earnings Nov
Dec 3 8:30 AM Average Workweek Nov
Dec 3 10:00 AM Factory Orders Oct
Dec 3 10:00 AM ISM Services Nov
Market Outlook Dec 1, 2010
This past year seems like a cross between 2003 and 1975. 2003 ended the year with the funds buying feverishly to make their 4th quarter bottom line look good and then the market plunged and went horizontal for six months. In 1975 the USA had a president who had played football too long before buying a helmet. He was almost as dumb as Obama. The market was erratic and Americans left investing in the stock market in droves. By the time President Reagan (the gipper) was elected in 1982 two thirds of former American investors had given up on the American stock market.
Based on the cash flow out of the market it looks like at least one or more additional consolidation periods may be needed for the bull market to resume. Without real economic growth there is a limit to how much further corporate profits can rise. Obama socialism makes Americans know that things can only get worse in the long run. Obama socialists and the democrats still have not gotten the message. Americans do not like the socialist pickpockets much less airport gropers or sexual deviates allowed in the military. Impeach the judges who want an American army of sexual deviates.
Historically the socialists first encourage and then they discretely kill all the sexual deviates the moment they can quietly get away with it. That has been the way it went in Nationalist Socialist Germany, the USSR, and in early Red China. Hitler purged his Nationalist Socialist in one night, the night of the "long knives". The lesser-known deviates disappeared into socialist work camps. Socialist totalitarianism and sexual deviation do not mix. Once creeping socialism begins its cradle to grave control, a lot of people end up in the graves. Hitler killed 20 million civilians; half were Germans. Russia just this past weekend admitted Stalin killed the 20,000 Polish leaders in 1941 and then blamed it on Hitler. Obama always blames everyone else too. They claim Stalin killed about 80million of his own people in the USSR and the Mao killed over 200 million Chinese to control his peoples. The socialist in Cambodia killed everyone with an education in their country because they wanted to have no one familiar with western democracy.
World Markets
Asian markets were up last night. China's market was up 0.1%, Hong Kong up 1.1%, India up 1.7%, and Japan up 0.5%.
European markets are up this morning in a range of about 0.3% to 1.9% half way through their day.
US pre-market futures were up about 1% at 7:30 AM EST.
Subscribe to:
Posts (Atom)