Yesterday U.S. stocks lost half the gains of the previous two-week rally as investors back away. The fact that American corporations are only making good profits at the expense of the $1.5 Trillion dollar/yr deficit Obama is running. That leftist wealth redistribution is unsustainable.
Obama said he wants a personal “Republican Guard” to maintain his domestic security in light of American revolutionary Tea Party forces and threats from subversives like Rush Limbaugh. "We cannot continue to rely only on our military in order to achieve the national security objectives that we've set," he said Wednesday. "We've got to have a civilian national security force that's just as powerful, just as strong, just as well funded." See:
http://kathymendla.blogspot.com/2008/10/obama-ready-to-subvert-posse-commitas.html
World Markets:
Brent oil is over $115/barrel even with the world economy is going nowhere. Energy costs will continue to stagnate the world as it did before Ronald Reagan went to supply side economics. That points out a real problem for the leftists. Not only is big government too expensive but leftist stupidity shows up in their hatred of development. They have shut down the American transportation infrastructure since the 1970’s when the Sierra Club and other environmentalists have stopped virtually every highway and railroad initiative by forcing them through already highly developed regions making land and mitigation costs prohibitive and ruining economies causing cost over-runs of 200% to 400% like Boston’s big-dig. Leftists are an even bigger problem outside of America because there they are not idealists but just corrupt and stupid. Projects in Russia now go through three hurdles of corruption. After two levels American companies think they are almost to a final deal. But the third set of bribes that are suggested usually is enough for even the most gullible western do-gooders to realize that in leftist run countries there is no end to extortion of foreign companies. That is how you keep foreigners out. Leftists tend to be racist, stupid, and Xenophobic. Just look at the more successful leftists in Japan today, and at Russia and Germany in the late 1930’s.
Monday Bloomberg reported Europe’s debt crisis and China’s efforts to curb inflation signal the 99 percent rally in the S&P 500 since March 2009 has gone too far. A report showing employers in the U.S. added 83 percent fewer jobs in June than economists projected heightened concern the economy is slowing.
Euro-zone finance ministers are bogged down in debate Monday, as a proposal mapped out for private-sector participation in Greece's next bailout faces impossible hurdles. One official said the voluntary participation "is not going forward." "It's over." Spain, Portugal, Italy and Ireland are particularly uncomfortable with a proposal that would allow selective Greek default, another said. "Some feel that there is no way to guarantee what kind of effects it will have, how contagious it will be, and fear investors will flee their bond markets. One privately described it a suicide in the making," he said.
Many analysts have warned for months that if the crisis ensnared Spain and Italy the future of the eurozone and the 12-year-old Euro currency would be threatened because there is no way the rest of Europe could bail out those two huge economies. “Spain and Italy are nearly five times the size of Greece, Portugal and Ireland and carry nearly four times the volume of debt
US Economic Highlights
Past Week
Michigan Sentiment - June down to 71.5 from 71.8 last month.
Jul 1 10:00 AM Construction Spending May down -0.6% from initially reported 0.4% last month
Employers in the US announced more job cuts.
Nonfarm Payrolls Jun hiring dropped to only 18K from 54K last month. We need 250K to get back to normal
Nonfarm Private Payrolls Jun fell to 57K from 83K last month indicating a 3K drop in government jobs.
Unemployment Rate Jun rose to 9.2% from 9.1% last month.
Wholesale Inventories May rose 1.8% vs. 0.8% last month which is not good
This Week
Jul 12 8:30 AM Trade Balance May
Jul 13 7:00 AM MBA Mortgage Index 07/09
Jul 13 7:00 AM MBA Mortgage Purchase Index 07/09
Jul 13 8:30 AM Export Prices ex-ag. Jun
Jul 13 8:30 AM Import Prices ex-oil Jun
Jul 13 10:30 AM Crude Inventories 07/09
Jul 13 2:00 PM Treasury Budget Jun
Jul 13 2:00 PM FOMC Minutes Jun 22
Jul 13 2:00 PM Treasury Budget Jun
Jul 14 8:30 AM Initial Claims 07/09
Jul 14 8:30 AM Continuing Claims 07/02
Jul 14 8:30 AM Retail Sales Jun
Jul 14 8:30 AM Retail Sales ex-auto Jun
Jul 14 8:30 AM PPI Jun
Jul 14 8:30 AM Core PPI Jun
Jul 14 10:00 AM Business Inventories May
Jul 15 8:30 AM CPI Jun
Jul 15 8:30 AM Core CPI Jun
Jul 15 8:30 AM Empire Manufacturing Jul
Jul 15 9:15 AM Industrial Production Jun
Jul 15 9:15 AM Capacity Utilization Jun
Jul 15 9:55 AM Mich Sentiment Jul
Market Outlook July 12, 2011
The Italian stock market plummeted 4% yesterday after diving 7.2% last week. Yesterday Spanish stocks slid 2.7% for the day, Portugal slumped 4.1%, France fell 2.7% and the German market sank 2.3%.
Obama business advisor, GE/Pravda Chairman and CEO Jeffrey Immelt acknowledged there needed to be some policy changes by Congress and the Obama administration. But he said that the responsibility for hiring lay with fat-cat businesses. This is the leftist that has GE paying 1/6 the taxes Obama says business should pay. This is the leftist who has moved most American jobs to leftist-leaning countries. Leftists executives don’t like America, they move American business to leftist countries like any good communist would do. It you look at which companies move jobs to leftist countries you will find big contributors to Obama run them all and other democrat-socialists. Leftist corporation executives get their power from American leftist government officials who give them government contracts to reward leftists who then pay the corrupt leftist politicians off with “contributions.” GE pays off corrupt leftist politicians primarily with taxpayer money from defense contracts. If we cut off all of GE’s government contracts most layoffs would be overseas.
Yesterday U.S. stocks lost half the gains of the previous two-week rally as investors back away. The fact that American corporations are making good profits is at the expense of the $1.5 Trillion dollar/yr deficit Obama is running. It is unsustainable. The stock market bubble remains near 2007 levels while real unemployment stands close to 20% and state and local governments have run up many $trillions in deficits that have to be paid back. See:
http://finance.yahoo.com/q/ta?s=^NYA&t=5y&l=on&z=m&q=l&p=e50%2Ce100&a=m26-12-9&c=
Low VIX correlates with overconfidence and immanent decline and now the VIX may actually show the decline is just beginning.
http://finance.yahoo.com/q/bc?s=^VIX&t=3m&l=on&z=m&q=l&c=
Recovery is one of Obama’s big lies just like his campaign lie that we were in a depression one year before the leftists destroyed American real estate and banks by requiring US banks give mortgages to people of Obama’s ethnic heritage who had no visible source of income to make the mortgage payments. Click on the 5yr chart and see full effect of the slowdown in world dry shipments. See:
http://www.bloomberg.com/apps/quote?ticker=BDIY:IND
Asian Stocks were down last night. China down -1.7%, Hong Kong down –3.1%, India down –1.7%, Taiwan down -2%, and Japan down –1.4%.
European markets are down this morning in a range of about –1.5-% to –2.6% half way through their day.
American markets are down near –0.9% this morning at 7 AM
Tuesday, July 12, 2011
Monday, July 11, 2011
Bloomberg today reported Europe’s debt crisis and China’s efforts to curb inflation signal the 99 percent rally in the S&P 500 has gone too far.
Bloomberg today reported Europe’s debt crisis and China’s efforts to curb inflation signal the 99 percent rally in the S&P 500 since March 2009 has gone too far. A report showing employers in the U.S. added 83 percent fewer jobs in June than economists projected heightened concern the economy is slowing.
Obama and Janet Napolitano appointed two devout Muslims to Homeland Security Posts
http://www.snopes.com/politics/religion/dhs.asp
Obama said when he was running for president. "We cannot continue to rely only on our military in order to achieve the national security objectives that we've set," he said Wednesday. "We've got to have a civilian national security force that's just as powerful, just as strong, just as well funded." See 1998:
http://kathymendla.blogspot.com/2008/10/obama-ready-to-subvert-posse-commitas.html
Hans Bader on July 8, 2011said: US employment growth ground to a halt in June, with employers hiring the fewest number of workers in nine months. Unemployment Rises, Driven Up By Failed Government Policies. U.S. Non-farm payrolls rose only 18,000, the weakest reading since September, the Labor Department said on Friday, well below economists’ expectations for a 90,000 rise. The unemployment rate climbed to a six-month high of 9.2 percent, even as jobseekers left the labor force in droves, from 9.1 percent in May. ‘The message on the economy is ongoing stagnation,’ said Pierre Ellis, senior economist at Decision economics. . . . The government revised April and May payrolls to show 44,000 fewer jobs created than previously reported. Our 9.2 percent unemployment rate is much higher than the Obama administration predicted it would be if Congress had refused to pass his $800 billion stimulus package. It claimed unemployment would rise to 8 percent without a stimulus. It argued that Obama’s $800 billion stimulus package would deliver a short-run “jolt” that would quickly lift the economy, but unemployment rose very rapidly after its passage, and the stimulus has actually destroyed thousands of jobs in America’s export sector, and also used taxpayer money to encourage the outsourcing of American jobs to create “green jobs” overseas. New EPA rules will wipe out at least another 800,00 jobs. And another 800,000 jobs will disappear due to Obamacare’s work disincentives. (The CBO noted in October that Obamacare contains disincentives to work that will shrink the labor force by hundreds of thousands of jobs.)
Caterpillar Inc. used offshore subsidiaries in Switzerland and Bermuda to avoid about $2 billion in U.S. taxes from 2000 to 2009, boosting its earnings through a “tax and financial statement fraud,” according to a Caterpillar executive’s lawsuit.
Taxpayers who paid (and their spouses) into Social Security for more than 30 years should not be penalized at all. Only the people who paid in nothing at all (after deducting welfare received) should be removed and then Social security would be solvent.
World Markets:
China’s economy probably grew the least in almost two years last quarter, contributing to a global weakening. Italian and Spanish bonds fell, sending borrowing costs relative to German bunds to euro-era records, while stocks and the common currency dropped on concern Europe’s debt crisis will spread. U.S. index futures slumped.
The “contagion” that has forced Greece, Ireland and Portugal to seek bailouts from the rest of Europe now is threatening Italy, as investors demand ever-higher interest rates on Italian government bonds. China’s slowdown was underscored by the weakest import gain since 2009 in June, limiting the chance for Europe to export their way out of their own domestic challenges
US Economic Highlights
Past Week
Michigan Sentiment - June down to 71.5 from 71.8 last month.
Jul 1 10:00 AM Construction Spending May down -0.6% from initially reported 0.4% last month
Employers in the US announced more job cuts.
Nonfarm Payrolls Jun hiring dropped to only 18K from 54K last month. We need 250K to get back to normal
Nonfarm Private Payrolls Jun fell to 57K from 83K last month indicating a 3K drop in government jobs.
Unemployment Rate Jun rose to 9.2% from 9.1% last month.
Wholesale Inventories May rose 1.8% vs. 0.8% last month which is not good
This Week
Jul 12 8:30 AM Trade Balance May
Jul 13 7:00 AM MBA Mortgage Index 07/09
Jul 13 7:00 AM MBA Mortgage Purchase Index 07/09
Jul 13 8:30 AM Export Prices ex-ag. Jun
Jul 13 8:30 AM Import Prices ex-oil Jun
Jul 13 10:30 AM Crude Inventories 07/09
Jul 13 2:00 PM Treasury Budget Jun
Jul 13 2:00 PM FOMC Minutes Jun 22
Jul 13 2:00 PM Treasury Budget Jun
Jul 14 8:30 AM Initial Claims 07/09
Jul 14 8:30 AM Continuing Claims 07/02
Jul 14 8:30 AM Retail Sales Jun
Jul 14 8:30 AM Retail Sales ex-auto Jun
Jul 14 8:30 AM PPI Jun
Jul 14 8:30 AM Core PPI Jun
Jul 14 10:00 AM Business Inventories May
Jul 15 8:30 AM CPI Jun
Jul 15 8:30 AM Core CPI Jun
Jul 15 8:30 AM Empire Manufacturing Jul
Jul 15 9:15 AM Industrial Production Jun
Jul 15 9:15 AM Capacity Utilization Jun
Jul 15 9:55 AM Mich Sentiment Jul
Market Outlook July 11, 2011
U.S. stocks were down Friday as investors continue back away just as the very old short-term hedge fund strategy said, ”exiting by the 4th trading day of the following month."
The stock market bubble remains near 2007 levels while real unemployment stands close to 20% and state and local governments have run up many $trillions in deficits that have to be paid back. See:
http://finance.yahoo.com/q/ta?s=^NYA&t=5y&l=on&z=m&q=l&p=e50%2Ce100&a=m26-12-9&c=
Low VIX correlates with overconfidence and immanent decline.
http://finance.yahoo.com/q/bc?s=^VIX&t=6m&l=on&z=m&q=l&c=
Recovery is one of Obama’s big lies just like his campaign lie that we were in a depression one year before the leftists destroyed American real estate and banks by requiring US banks give mortgages to people of Obama’s ethnic heritage who had no visible source of income to make the mortgage payments. Click on the 5yr chart and see full effect of the slowdown in world dry shipments. See:
http://www.bloomberg.com/apps/quote?ticker=BDIY:IND
Asian Stocks were down last night. China up 0.2%, Hong Kong down –1.7%, India down –0.7%, Taiwan down -1%, and Japan down -0.7%.
European markets are down this morning in a range of about -0.6% to -2% half way through their day.
American markets are down near –0.9% this morning at 7 AM
Obama and Janet Napolitano appointed two devout Muslims to Homeland Security Posts
http://www.snopes.com/politics/religion/dhs.asp
Obama said when he was running for president. "We cannot continue to rely only on our military in order to achieve the national security objectives that we've set," he said Wednesday. "We've got to have a civilian national security force that's just as powerful, just as strong, just as well funded." See 1998:
http://kathymendla.blogspot.com/2008/10/obama-ready-to-subvert-posse-commitas.html
Hans Bader on July 8, 2011said: US employment growth ground to a halt in June, with employers hiring the fewest number of workers in nine months. Unemployment Rises, Driven Up By Failed Government Policies. U.S. Non-farm payrolls rose only 18,000, the weakest reading since September, the Labor Department said on Friday, well below economists’ expectations for a 90,000 rise. The unemployment rate climbed to a six-month high of 9.2 percent, even as jobseekers left the labor force in droves, from 9.1 percent in May. ‘The message on the economy is ongoing stagnation,’ said Pierre Ellis, senior economist at Decision economics. . . . The government revised April and May payrolls to show 44,000 fewer jobs created than previously reported. Our 9.2 percent unemployment rate is much higher than the Obama administration predicted it would be if Congress had refused to pass his $800 billion stimulus package. It claimed unemployment would rise to 8 percent without a stimulus. It argued that Obama’s $800 billion stimulus package would deliver a short-run “jolt” that would quickly lift the economy, but unemployment rose very rapidly after its passage, and the stimulus has actually destroyed thousands of jobs in America’s export sector, and also used taxpayer money to encourage the outsourcing of American jobs to create “green jobs” overseas. New EPA rules will wipe out at least another 800,00 jobs. And another 800,000 jobs will disappear due to Obamacare’s work disincentives. (The CBO noted in October that Obamacare contains disincentives to work that will shrink the labor force by hundreds of thousands of jobs.)
Caterpillar Inc. used offshore subsidiaries in Switzerland and Bermuda to avoid about $2 billion in U.S. taxes from 2000 to 2009, boosting its earnings through a “tax and financial statement fraud,” according to a Caterpillar executive’s lawsuit.
Taxpayers who paid (and their spouses) into Social Security for more than 30 years should not be penalized at all. Only the people who paid in nothing at all (after deducting welfare received) should be removed and then Social security would be solvent.
World Markets:
China’s economy probably grew the least in almost two years last quarter, contributing to a global weakening. Italian and Spanish bonds fell, sending borrowing costs relative to German bunds to euro-era records, while stocks and the common currency dropped on concern Europe’s debt crisis will spread. U.S. index futures slumped.
The “contagion” that has forced Greece, Ireland and Portugal to seek bailouts from the rest of Europe now is threatening Italy, as investors demand ever-higher interest rates on Italian government bonds. China’s slowdown was underscored by the weakest import gain since 2009 in June, limiting the chance for Europe to export their way out of their own domestic challenges
US Economic Highlights
Past Week
Michigan Sentiment - June down to 71.5 from 71.8 last month.
Jul 1 10:00 AM Construction Spending May down -0.6% from initially reported 0.4% last month
Employers in the US announced more job cuts.
Nonfarm Payrolls Jun hiring dropped to only 18K from 54K last month. We need 250K to get back to normal
Nonfarm Private Payrolls Jun fell to 57K from 83K last month indicating a 3K drop in government jobs.
Unemployment Rate Jun rose to 9.2% from 9.1% last month.
Wholesale Inventories May rose 1.8% vs. 0.8% last month which is not good
This Week
Jul 12 8:30 AM Trade Balance May
Jul 13 7:00 AM MBA Mortgage Index 07/09
Jul 13 7:00 AM MBA Mortgage Purchase Index 07/09
Jul 13 8:30 AM Export Prices ex-ag. Jun
Jul 13 8:30 AM Import Prices ex-oil Jun
Jul 13 10:30 AM Crude Inventories 07/09
Jul 13 2:00 PM Treasury Budget Jun
Jul 13 2:00 PM FOMC Minutes Jun 22
Jul 13 2:00 PM Treasury Budget Jun
Jul 14 8:30 AM Initial Claims 07/09
Jul 14 8:30 AM Continuing Claims 07/02
Jul 14 8:30 AM Retail Sales Jun
Jul 14 8:30 AM Retail Sales ex-auto Jun
Jul 14 8:30 AM PPI Jun
Jul 14 8:30 AM Core PPI Jun
Jul 14 10:00 AM Business Inventories May
Jul 15 8:30 AM CPI Jun
Jul 15 8:30 AM Core CPI Jun
Jul 15 8:30 AM Empire Manufacturing Jul
Jul 15 9:15 AM Industrial Production Jun
Jul 15 9:15 AM Capacity Utilization Jun
Jul 15 9:55 AM Mich Sentiment Jul
Market Outlook July 11, 2011
U.S. stocks were down Friday as investors continue back away just as the very old short-term hedge fund strategy said, ”exiting by the 4th trading day of the following month."
The stock market bubble remains near 2007 levels while real unemployment stands close to 20% and state and local governments have run up many $trillions in deficits that have to be paid back. See:
http://finance.yahoo.com/q/ta?s=^NYA&t=5y&l=on&z=m&q=l&p=e50%2Ce100&a=m26-12-9&c=
Low VIX correlates with overconfidence and immanent decline.
http://finance.yahoo.com/q/bc?s=^VIX&t=6m&l=on&z=m&q=l&c=
Recovery is one of Obama’s big lies just like his campaign lie that we were in a depression one year before the leftists destroyed American real estate and banks by requiring US banks give mortgages to people of Obama’s ethnic heritage who had no visible source of income to make the mortgage payments. Click on the 5yr chart and see full effect of the slowdown in world dry shipments. See:
http://www.bloomberg.com/apps/quote?ticker=BDIY:IND
Asian Stocks were down last night. China up 0.2%, Hong Kong down –1.7%, India down –0.7%, Taiwan down -1%, and Japan down -0.7%.
European markets are down this morning in a range of about -0.6% to -2% half way through their day.
American markets are down near –0.9% this morning at 7 AM
Friday, July 8, 2011
The totalitarian socialists listened to no one until the American taxpayers kicked out every one they could in 2010.
$4 Trillion in Obama cuts would still leave the USA $6 Trillion in the hole ten years from now. That would be 6 times the debt increase Bush created to get the USA out of the Clinton DotCom recession that started in 2000 before Bush was elected or took office. Democrats said Bush was dumb so now they must think Obama is a raving idiot, right?
Taxpayers who paid (and their spouses) into Social Security for more than 30 years should not be penalized at all. Only the people who paid in nothing at all should be removed and then Social security would be solvent.
The Mexican national who raped and bludgeoned an American girl to death with a chunk of highway asphalt was executed last night with permission of the USA Supreme Court. Obama opposed his death penalty and wanted a law to use American taxpayer money to protect foreign murderers who are so grotesque even their country of origin will do nothing to support their appeal.
Mexican investigation continues into the Obama operation that helped send thousands of guns into Mexico. Obama used the violence his gunrunning caused as an excuse to try to disarm Americans. Mexican lawmakers say they'll press for extradition and prosecution in Mexico of Obama officials who authorized and ran the operation. "I obviously feel violated. I feel my country's sovereignty was violated," Mexico Sen. Rene Arce Islas told Fox News. "They should be tried in the United States and the Mexican government should also demand that they also be tried in Mexico since the incidents took place here. There should be trials in both places."
Judicial Watch is accusing President Obama of violating a funding ban that he signed into law that prohibits the flow of federal money to the community activist group ACORN or any of its affiliates. A sting last year showed that the leftist Acorn group helped expand illegal drug and prostitution within cities. Judicial Watch says that in March, the U.S. Department of Housing and Urban Development (HUD) issued nearly $80,000 in grants to Affordable Housing Centers of America (AHCOA), which is an offshoot of ACORN.
World Markets:
Oil climbs to highest level since early June trouncing Obama’s reserve oil bluff.
Air France will ask passengers to clear their seats and take their trash with them when leaving the plane as the carrier seeks to cut high costs of union help.
London police on Friday arrested Andy Coulson, the former News of the World editor who also served as the current socialist Prime Minister's former communications chief, in relation to Britain's tabloid phone-hacking scandal
China President may be gravely ill.
Denmark’s banks face a decline in earnings as the fallout from Europe’s toughest resolution laws sends funding costs higher. George Soros said today he is buying their bonds.
Moody's Investors Service on Tuesday cut Portugal's debt rating to junk ratcheting up the pressure on euro zone governments to cut government jobs.
Moody’s Investors Service said the Chinese banks credit rating could be cut. Chinese banks’ loans to local governments are about 3.5 trillion yuan ($540 billion) more than the national auditor’s estimate”.
US Economic Highlights
Past Week
Initial Claims 06/25 428K unchanged from first reported last week 429K
Continuing Claims 06/18 3702K from first reported last week3697K
Chicago PMI Jun 61.1 up from 56.6 , good but specious Obama manipulation of data USSR style
Michigan Sentiment - June down to 71.5 from 71.8 last month.
Jul 1 10:00 AM ISM Index Jun up to 55.3 from 53.5 last month. Nothing much, see:
http://www.martincapital.com/chart-pgs/Pg_ism.htm
Jul 1 10:00 AM Construction Spending May down -0.6% from initially reported 0.4% last month
Factory Orders May regained 0.8% of the -1.2% loss incurred last month.
MBA Mortgage Index 07/02 fell -5.2% twice the fall of -2.7% last month.
Employers in the US announced more job cuts. Challenger Job Cuts announced in Jun are at 5.2% where as they hired last month ( -4.3%)
Jul 6 8:15 AM ADP Employment Change Jun… too bad to release?
ISM Services, The U.S. service sector, which employs nearly 90 percent of the country's work force slowed from May’s to June
Thursday
ADP Employment Change Jun 157K vs. 38K last month.
Initial Claims 07/02 418K down from 428K but way too high.
Continuing Claims 06/25 3681K down from 3702K
Crude Inventories 07/02 -0.889M not as bad as -4.375M the last time
This Week
Jul 8 8:30 AM Nonfarm Payrolls Jun
Jul 8 8:30 AM Nonfarm Private Payrolls Jun
Jul 8 8:30 AM Unemployment Rate Jun
Jul 8 8:30 AM Average Workweek Jun
Jul 8 8:30 AM Hourly Earnings Jun
Jul 8 10:00 AM Wholesale Inventories May
Jul 8 3:00 PM Consumer Credit May
Market Outlook July 8, 2011
After earnings fell off a cliff in 2007, 2008, and 2009 and a $10Trillion deficit causing Obama bailout was approved by the totalitarian democrat socialist USA government in 2009, U.S. corporations are set to report the slowest earnings gain since the Obama recession started. The totalitarian socialists listened to no one until the American taxpayers kicked out every one they could in 2010. Companies from Ford Motor Co. (F) to McDonald’s Corp. (MCD) struggled with rising oil and commodity prices and a slowdown in consumer confidence that continue to hamper spending this year. Companies like GM continue to be a union pension money pit and will never pay back American taxpayers. Earnings per share for all Standard & Poor’s 500 Index companies rose at an estimated annual rate of only 13 percent in the second quarter, according to Bloomberg. Profits gained 18 percent/yr. in the first quarter less than half the 37 percent rate in 2010.
U.S. stocks were up Thursday on very low volume again as investors continue to back away. The very old short term hedge fund strategy calls for entering the market by the next to last trading day each month and exiting by the 4th trading day of the following month. That would be today. It is best at the end of a quarter when the funds want to dress up their returns. This hedge fund rally wiped out most of their losses for the year. But now they are out of month end cash and they had very little to begin with based on the low volume.
The stock market bubble is up near 2007 levels while real unemployment stands close to 20% and state and local governments have run up many $trillions in deficits that have to be paid back. See:
http://finance.yahoo.com/q/ta?s=^NYA&t=5y&l=on&z=m&q=l&p=e50%2Ce100&a=m26-12-9&c=
and the S&P:
http://finance.yahoo.com/q/ta?s=^GSPC&t=5y&l=on&z=m&q=l&p=m50%2Ce100&a=m26-12-9&c=
and the DJI shows a head and shoulders sell signal forming too.
http://finance.yahoo.com/q/ta?s=^DJI&t=5y&l=on&z=m&q=l&p=e100%2Ce50&a=m26-12-9&c=
Low VIX correlates with overconfidence and immanent decline and now fear must rise substantially before the current market sell-off can be considered over. Look how high the VIX has to go now before the bottom is hit in the past!
http://finance.yahoo.com/q/bc?s=^VIX&t=6m&l=on&z=m&q=l&c=
Recovery is one of Obama’s big lies just like his campaign lie that we were in a depression one year before the leftists destroyed American real estate and banks by requiring US banks give mortgages to people of Obama’s ethnic heritage who had no visible source of income to make the mortgage payments. Click on the 5yr chart and see full effect of the slowdown in world dry shipments. See:
http://www.bloomberg.com/apps/quote?ticker=BDIY:IND
Asian Stocks were up slightly last night. China up 0.1%, Hong Kong up 0.9%, India down –1.1%, Taiwan down –0.3%, and Japan up 0.7%.
European markets are flat this morning in a range of about -0.2% to 0.3% half way through their day.
American markets are down near -0.1% this morning at 7 AM
Taxpayers who paid (and their spouses) into Social Security for more than 30 years should not be penalized at all. Only the people who paid in nothing at all should be removed and then Social security would be solvent.
The Mexican national who raped and bludgeoned an American girl to death with a chunk of highway asphalt was executed last night with permission of the USA Supreme Court. Obama opposed his death penalty and wanted a law to use American taxpayer money to protect foreign murderers who are so grotesque even their country of origin will do nothing to support their appeal.
Mexican investigation continues into the Obama operation that helped send thousands of guns into Mexico. Obama used the violence his gunrunning caused as an excuse to try to disarm Americans. Mexican lawmakers say they'll press for extradition and prosecution in Mexico of Obama officials who authorized and ran the operation. "I obviously feel violated. I feel my country's sovereignty was violated," Mexico Sen. Rene Arce Islas told Fox News. "They should be tried in the United States and the Mexican government should also demand that they also be tried in Mexico since the incidents took place here. There should be trials in both places."
Judicial Watch is accusing President Obama of violating a funding ban that he signed into law that prohibits the flow of federal money to the community activist group ACORN or any of its affiliates. A sting last year showed that the leftist Acorn group helped expand illegal drug and prostitution within cities. Judicial Watch says that in March, the U.S. Department of Housing and Urban Development (HUD) issued nearly $80,000 in grants to Affordable Housing Centers of America (AHCOA), which is an offshoot of ACORN.
World Markets:
Oil climbs to highest level since early June trouncing Obama’s reserve oil bluff.
Air France will ask passengers to clear their seats and take their trash with them when leaving the plane as the carrier seeks to cut high costs of union help.
London police on Friday arrested Andy Coulson, the former News of the World editor who also served as the current socialist Prime Minister's former communications chief, in relation to Britain's tabloid phone-hacking scandal
China President may be gravely ill.
Denmark’s banks face a decline in earnings as the fallout from Europe’s toughest resolution laws sends funding costs higher. George Soros said today he is buying their bonds.
Moody's Investors Service on Tuesday cut Portugal's debt rating to junk ratcheting up the pressure on euro zone governments to cut government jobs.
Moody’s Investors Service said the Chinese banks credit rating could be cut. Chinese banks’ loans to local governments are about 3.5 trillion yuan ($540 billion) more than the national auditor’s estimate”.
US Economic Highlights
Past Week
Initial Claims 06/25 428K unchanged from first reported last week 429K
Continuing Claims 06/18 3702K from first reported last week3697K
Chicago PMI Jun 61.1 up from 56.6 , good but specious Obama manipulation of data USSR style
Michigan Sentiment - June down to 71.5 from 71.8 last month.
Jul 1 10:00 AM ISM Index Jun up to 55.3 from 53.5 last month. Nothing much, see:
http://www.martincapital.com/chart-pgs/Pg_ism.htm
Jul 1 10:00 AM Construction Spending May down -0.6% from initially reported 0.4% last month
Factory Orders May regained 0.8% of the -1.2% loss incurred last month.
MBA Mortgage Index 07/02 fell -5.2% twice the fall of -2.7% last month.
Employers in the US announced more job cuts. Challenger Job Cuts announced in Jun are at 5.2% where as they hired last month ( -4.3%)
Jul 6 8:15 AM ADP Employment Change Jun… too bad to release?
ISM Services, The U.S. service sector, which employs nearly 90 percent of the country's work force slowed from May’s to June
Thursday
ADP Employment Change Jun 157K vs. 38K last month.
Initial Claims 07/02 418K down from 428K but way too high.
Continuing Claims 06/25 3681K down from 3702K
Crude Inventories 07/02 -0.889M not as bad as -4.375M the last time
This Week
Jul 8 8:30 AM Nonfarm Payrolls Jun
Jul 8 8:30 AM Nonfarm Private Payrolls Jun
Jul 8 8:30 AM Unemployment Rate Jun
Jul 8 8:30 AM Average Workweek Jun
Jul 8 8:30 AM Hourly Earnings Jun
Jul 8 10:00 AM Wholesale Inventories May
Jul 8 3:00 PM Consumer Credit May
Market Outlook July 8, 2011
After earnings fell off a cliff in 2007, 2008, and 2009 and a $10Trillion deficit causing Obama bailout was approved by the totalitarian democrat socialist USA government in 2009, U.S. corporations are set to report the slowest earnings gain since the Obama recession started. The totalitarian socialists listened to no one until the American taxpayers kicked out every one they could in 2010. Companies from Ford Motor Co. (F) to McDonald’s Corp. (MCD) struggled with rising oil and commodity prices and a slowdown in consumer confidence that continue to hamper spending this year. Companies like GM continue to be a union pension money pit and will never pay back American taxpayers. Earnings per share for all Standard & Poor’s 500 Index companies rose at an estimated annual rate of only 13 percent in the second quarter, according to Bloomberg. Profits gained 18 percent/yr. in the first quarter less than half the 37 percent rate in 2010.
U.S. stocks were up Thursday on very low volume again as investors continue to back away. The very old short term hedge fund strategy calls for entering the market by the next to last trading day each month and exiting by the 4th trading day of the following month. That would be today. It is best at the end of a quarter when the funds want to dress up their returns. This hedge fund rally wiped out most of their losses for the year. But now they are out of month end cash and they had very little to begin with based on the low volume.
The stock market bubble is up near 2007 levels while real unemployment stands close to 20% and state and local governments have run up many $trillions in deficits that have to be paid back. See:
http://finance.yahoo.com/q/ta?s=^NYA&t=5y&l=on&z=m&q=l&p=e50%2Ce100&a=m26-12-9&c=
and the S&P:
http://finance.yahoo.com/q/ta?s=^GSPC&t=5y&l=on&z=m&q=l&p=m50%2Ce100&a=m26-12-9&c=
and the DJI shows a head and shoulders sell signal forming too.
http://finance.yahoo.com/q/ta?s=^DJI&t=5y&l=on&z=m&q=l&p=e100%2Ce50&a=m26-12-9&c=
Low VIX correlates with overconfidence and immanent decline and now fear must rise substantially before the current market sell-off can be considered over. Look how high the VIX has to go now before the bottom is hit in the past!
http://finance.yahoo.com/q/bc?s=^VIX&t=6m&l=on&z=m&q=l&c=
Recovery is one of Obama’s big lies just like his campaign lie that we were in a depression one year before the leftists destroyed American real estate and banks by requiring US banks give mortgages to people of Obama’s ethnic heritage who had no visible source of income to make the mortgage payments. Click on the 5yr chart and see full effect of the slowdown in world dry shipments. See:
http://www.bloomberg.com/apps/quote?ticker=BDIY:IND
Asian Stocks were up slightly last night. China up 0.1%, Hong Kong up 0.9%, India down –1.1%, Taiwan down –0.3%, and Japan up 0.7%.
European markets are flat this morning in a range of about -0.2% to 0.3% half way through their day.
American markets are down near -0.1% this morning at 7 AM
Thursday, July 7, 2011
Judicial Watch is accusing President Obama of violating a funding ban that he signed into law that prohibits the flow of federal money to the communit
Judicial Watch is accusing President Obama of violating a funding ban that he signed into law that prohibits the flow of federal money to the community activist group ACORN or any of its affiliates. A sting last year showed that the leftist Acorn group helped expand illegal drug and prostitution within cities. Judicial Watch says that in March, the U.S. Department of Housing and Urban Development (HUD) issued nearly $80,000 in grants to Affordable Housing Centers of America (AHCOA), which is an offshoot of ACORN.
Obama’s bluff about pumping out oil reserves is not working. No one believes anything Obama says anymore. He is America’s first lame duck one term president. Insiders say Hilary Clinton will challenge Obama because he is the least competent president since Lyndon Johnson. Insiders say Obama will then withdraw from the race and support Hilary after the New Hampshire primary.
Mexican investigation continues into the Obama operation that helped send thousands of guns south of the border, after which Obama used it as an excuse to try to disarm Americans. Mexican lawmakers say they'll press for extradition and prosecution in Mexico of Obama officials who authorized and ran the operation. "I obviously feel violated. I feel my country's sovereignty was violated," Mexico Sen. Rene Arce Islas told Fox News. "They should be tried in the United States and the Mexican government should also demand that they also be tried in Mexico since the incidents took place here. There should be trials in both places."
Taxpayers including most seniors want welfare entitlements cut and federal and state employee health benefits, and pensions cut. Retired seniors are still paying more in taxes than Obama’s welfare voting base. Obama keeps threatening to cut taxpayer earned social security to retired taxpayers if Republicans cut entitlements to federal and state employees who constitute dangerously big government like Greece.
World Markets:
China President may be gravely ill.
Denmark’s banks face a decline in earnings as the fallout from Europe’s toughest resolution laws sends funding costs higher. George Soros said today he is buying their bonds.
Moody's Investors Service on Tuesday cut Portugal's debt rating to junk ratcheting up the pressure on euro zone governments to cut government jobs.
Moody’s Investors Service said the Chinese banks credit rating could be cut. Chinese banks’ loans to local governments are about 3.5 trillion yuan ($540 billion) more than the national auditor’s estimate”.
US Economic Highlights
Past Week
Initial Claims 06/25 428K unchanged from first reported last week 429K
Continuing Claims 06/18 3702K from first reported last week3697K
Chicago PMI Jun 61.1 up from 56.6 , good but specious Obama manipulation of data USSR style
Michigan Sentiment - June down to 71.5 from 71.8 last month.
Jul 1 10:00 AM ISM Index Jun up to 55.3 from 53.5 last month. Nothing much, see:
http://www.martincapital.com/chart-pgs/Pg_ism.htm
Jul 1 10:00 AM Construction Spending May down -0.6% from initially reported 0.4% last month
Factory Orders May regained 0.8% of the -1.2% loss incurred last month.
Wednesday
MBA Mortgage Index 07/02 fell -5.2% twice the fall of -2.7% last month.
Employers in the US announced more job cuts. Challenger Job Cuts announced in Jun are at 5.2% where as they hired last month ( -4.3%)
Jul 6 8:15 AM ADP Employment Change Jun… too bad to release?
ISM Services, The U.S. service sector, which employs nearly 90 percent of the country's work force slowed from May’s to June
This Week
Jul 7 8:15 AM ADP Employment Change
Jul 7 8:30 AM Initial Claims 07/02
Jul 7 8:30 AM Continuing Claims 06/25
Jul 7 11:00 AM Crude Inventories 07/02
Jul 8 8:30 AM Nonfarm Payrolls Jun
Jul 8 8:30 AM Nonfarm Private Payrolls Jun
Jul 8 8:30 AM Unemployment Rate Jun
Jul 8 8:30 AM Average Workweek Jun
Jul 8 8:30 AM Hourly Earnings Jun
Jul 8 10:00 AM Wholesale Inventories May
Jul 8 3:00 PM Consumer Credit May
Market Outlook July 7, 2011
U.S. stocks were flat again Wednesday on low volume as investors back away. The very old short term hedge fund strategy calls for entering the market by the next to last trading day each month and exiting by the 4th trading day of the following month. That would be tomorrow. It is best at the end of a quarter when the funds want to dress up their returns.
The stock market bubble is up near 2007 levels while real unemployment stands close to 20% and state and local governments have run up many $trillions in deficits that have to be paid back. See:
http://finance.yahoo.com/q/ta?s=^NYA&t=5y&l=on&z=m&q=l&p=e50%2Ce100&a=m26-12-9&c=
and the S&P:
http://finance.yahoo.com/q/ta?s=^GSPC&t=5y&l=on&z=m&q=l&p=m50%2Ce100&a=m26-12-9&c=
and the DJI shows a head and shoulders sell signal forming too.
http://finance.yahoo.com/q/ta?s=^DJI&t=5y&l=on&z=m&q=l&p=e100%2Ce50&a=m26-12-9&c=
Low VIX correlates with overconfidence and immanent decline and now fear must rise substantially before the current market sell-off can be considered over. Look how high the VIX has to go now before the bottom is hit in the past!
http://finance.yahoo.com/q/bc?s=^VIX&t=6m&l=on&z=m&q=l&c=
Recovery is one of Obama’s big lies just like his campaign lie that we were in a depression one year before the leftists destroyed American real estate and banks by requiring US banks give mortgages to people of Obama’s ethnic heritage who had no visible source of income to make the mortgage payments. Click on the 5yr chart and see full effect of the slowdown in world dry shipments. See:
http://www.bloomberg.com/apps/quote?ticker=BDIY:IND
Asian Stocks were mixed last night. China down -0.6%, Hong Kong flat 0%, India up 1.8%, and Japan down -0.1%.
European markets are up this morning in a range of about 0.2% to 0.7% half way through their day.
American markets are up near 0.3% this morning at 7 AM
Obama’s bluff about pumping out oil reserves is not working. No one believes anything Obama says anymore. He is America’s first lame duck one term president. Insiders say Hilary Clinton will challenge Obama because he is the least competent president since Lyndon Johnson. Insiders say Obama will then withdraw from the race and support Hilary after the New Hampshire primary.
Mexican investigation continues into the Obama operation that helped send thousands of guns south of the border, after which Obama used it as an excuse to try to disarm Americans. Mexican lawmakers say they'll press for extradition and prosecution in Mexico of Obama officials who authorized and ran the operation. "I obviously feel violated. I feel my country's sovereignty was violated," Mexico Sen. Rene Arce Islas told Fox News. "They should be tried in the United States and the Mexican government should also demand that they also be tried in Mexico since the incidents took place here. There should be trials in both places."
Taxpayers including most seniors want welfare entitlements cut and federal and state employee health benefits, and pensions cut. Retired seniors are still paying more in taxes than Obama’s welfare voting base. Obama keeps threatening to cut taxpayer earned social security to retired taxpayers if Republicans cut entitlements to federal and state employees who constitute dangerously big government like Greece.
World Markets:
China President may be gravely ill.
Denmark’s banks face a decline in earnings as the fallout from Europe’s toughest resolution laws sends funding costs higher. George Soros said today he is buying their bonds.
Moody's Investors Service on Tuesday cut Portugal's debt rating to junk ratcheting up the pressure on euro zone governments to cut government jobs.
Moody’s Investors Service said the Chinese banks credit rating could be cut. Chinese banks’ loans to local governments are about 3.5 trillion yuan ($540 billion) more than the national auditor’s estimate”.
US Economic Highlights
Past Week
Initial Claims 06/25 428K unchanged from first reported last week 429K
Continuing Claims 06/18 3702K from first reported last week3697K
Chicago PMI Jun 61.1 up from 56.6 , good but specious Obama manipulation of data USSR style
Michigan Sentiment - June down to 71.5 from 71.8 last month.
Jul 1 10:00 AM ISM Index Jun up to 55.3 from 53.5 last month. Nothing much, see:
http://www.martincapital.com/chart-pgs/Pg_ism.htm
Jul 1 10:00 AM Construction Spending May down -0.6% from initially reported 0.4% last month
Factory Orders May regained 0.8% of the -1.2% loss incurred last month.
Wednesday
MBA Mortgage Index 07/02 fell -5.2% twice the fall of -2.7% last month.
Employers in the US announced more job cuts. Challenger Job Cuts announced in Jun are at 5.2% where as they hired last month ( -4.3%)
Jul 6 8:15 AM ADP Employment Change Jun… too bad to release?
ISM Services, The U.S. service sector, which employs nearly 90 percent of the country's work force slowed from May’s to June
This Week
Jul 7 8:15 AM ADP Employment Change
Jul 7 8:30 AM Initial Claims 07/02
Jul 7 8:30 AM Continuing Claims 06/25
Jul 7 11:00 AM Crude Inventories 07/02
Jul 8 8:30 AM Nonfarm Payrolls Jun
Jul 8 8:30 AM Nonfarm Private Payrolls Jun
Jul 8 8:30 AM Unemployment Rate Jun
Jul 8 8:30 AM Average Workweek Jun
Jul 8 8:30 AM Hourly Earnings Jun
Jul 8 10:00 AM Wholesale Inventories May
Jul 8 3:00 PM Consumer Credit May
Market Outlook July 7, 2011
U.S. stocks were flat again Wednesday on low volume as investors back away. The very old short term hedge fund strategy calls for entering the market by the next to last trading day each month and exiting by the 4th trading day of the following month. That would be tomorrow. It is best at the end of a quarter when the funds want to dress up their returns.
The stock market bubble is up near 2007 levels while real unemployment stands close to 20% and state and local governments have run up many $trillions in deficits that have to be paid back. See:
http://finance.yahoo.com/q/ta?s=^NYA&t=5y&l=on&z=m&q=l&p=e50%2Ce100&a=m26-12-9&c=
and the S&P:
http://finance.yahoo.com/q/ta?s=^GSPC&t=5y&l=on&z=m&q=l&p=m50%2Ce100&a=m26-12-9&c=
and the DJI shows a head and shoulders sell signal forming too.
http://finance.yahoo.com/q/ta?s=^DJI&t=5y&l=on&z=m&q=l&p=e100%2Ce50&a=m26-12-9&c=
Low VIX correlates with overconfidence and immanent decline and now fear must rise substantially before the current market sell-off can be considered over. Look how high the VIX has to go now before the bottom is hit in the past!
http://finance.yahoo.com/q/bc?s=^VIX&t=6m&l=on&z=m&q=l&c=
Recovery is one of Obama’s big lies just like his campaign lie that we were in a depression one year before the leftists destroyed American real estate and banks by requiring US banks give mortgages to people of Obama’s ethnic heritage who had no visible source of income to make the mortgage payments. Click on the 5yr chart and see full effect of the slowdown in world dry shipments. See:
http://www.bloomberg.com/apps/quote?ticker=BDIY:IND
Asian Stocks were mixed last night. China down -0.6%, Hong Kong flat 0%, India up 1.8%, and Japan down -0.1%.
European markets are up this morning in a range of about 0.2% to 0.7% half way through their day.
American markets are up near 0.3% this morning at 7 AM
Wednesday, July 6, 2011
Obama to install the Moslem Brotherhood in Egypt after supporting the overthrow of the Mubarak pro democracy government that kept sharia murderers out
Obama to install the Moslem Brotherhood in Egypt after supporting the overthrow of the Mubarak pro democracy government that kept sharia murderers out of power. North Sudan sharia Moslems continue to bomb Christians in the south who refuse to live under the sharia murderers
.
Speculators in oil have called Obama’s bluff about pumping out oil reserves. Tuesday marked oil future’s highest closing level since Obama made his promise to keep oil prices below $100/barrel. No one believes anything Obama says anymore. He is America’s first lame duck one term president. Insiders say Hilary Clinton will challenge Obama because he is the least competent president since Lyndon Johnson. Insiders say Obama will then withdraw from the race and support Hilary after the New Hampshire primary.
The report released by the president's Council of Economic Advisers late Friday ahead of the July 4 holiday weekend estimated the Recovery Act saved or created between 2.4 million and 3.6 million jobs by the end of March 2011. Spending equaled $666 billion by that time. President Obama's economic advisers showed that jobs created or saved by the stimulus bill only cost taxpayers $278,000 each but unfortunately states are already laying those temporary employees off.
What a great bonus for welfare folks who are of Obama’s special ethnic heritage and approved for handouts of $1.25 billion). There are 30,000 purported descendants (5 times actual proven descendants) of farmers of Obama’s ethnic origin or $417,000 per person.
https://www.blackfarmercase.com//Background.aspx
Mexican investigation continues into the Obama operation that helped send thousands of guns south of the border, after which Obama used it as an excuse to try to disarm Americans. Mexican lawmakers say they'll press for extradition and prosecution in Mexico of Obama officials who authorized and ran the operation. "I obviously feel violated. I feel my country's sovereignty was violated," Mexico Sen. Rene Arce Islas told Fox News. "They should be tried in the United States and the Mexican government should also demand that they also be tried in Mexico since the incidents took place here. There should be trials in both places."
Taxpayers including most seniors want welfare entitlements cut and federal and state employee health benefits, and pensions cut. Retired seniors are still paying more in taxes than Obama’s welfare voting base. Obama keeps threatening to cut taxpayer earned social security to retired taxpayers if Republicans cut entitlements to federal and state employees who constitute dangerously big government like Greece.
The White House released its 2011 report to Congress. Salaries of top aides working for the president $172,000 so no one would pay more taxes under the president’s plan which affects $200,000 or higher.
When half of the people get the idea that they do not have to work because the other half is going to take care of them, and when the other half gets the idea that it does no good to work, because somebody else is going to get what they worked for, that is the beginning of the end of any government. It is called the tyranny of the majority.
Clinton said Obama lacks not only hope and change but also common sense long-term budgeting and planning needed for success. “We’ve gotten ourselves in a position where we’re spending too much money on today and yesterday, and not money enough on tomorrow,” he said during the first panel discussion at the Clinton Global Initiative’s two-day conference in Chicago. “We’re borrowing too much, so that once the economy picks up, we’re creating tomorrow’s problem.” Clinton said the nation needs to find a better mix for the proportion of the U.S. gross domestic product that is represented by federal spending and taxes. “We can’t afford to spend 25 percent of GDP on government expenditures,” he said. “I don’t think we can afford to tax at only 15 percent of GDP, either, which is about where we are.”
World Markets:
China raised benchmark interest rates for the third time this year after inflation accelerated to the fastest pace since July 2008. The one-year deposit rate rises to 3.5 percent from 3.25 percent, effective tomorrow, the People’s Bank of China said on its website today. The one-year lending rate will increase to 6. 56 percent from 6.31 percent. The Obama incompetence has a 0.25% rate and US inflation exceeds US growth. (i.e. real growth is 1.9%-2% = -0.1% Obama net growth).
Moody's Investors Service on Tuesday cut Portugal's debt rating to junk ratcheting up the pressure on euro zone governments to cut government jobs.
Moody’s Investors Service said the Chinese banks credit rating could be cut. Chinese banks’ loans to local governments are about 3.5 trillion yuan ($540 billion) more than the national auditor’s estimate”.
Denmark’s banks face a decline in earnings as the fallout from Europe’s toughest resolution laws sends funding costs higher.
US Economic Highlights
Past Week
Initial Claims 06/25 428K unchanged from first reported last week 429K
Continuing Claims 06/18 3702K from first reported last week3697K
Chicago PMI Jun 61.1 up from 56.6 , good but specious Obama manipulation of data USSR style
Michigan Sentiment - June down to 71.5 from 71.8 last month.
Jul 1 10:00 AM ISM Index Jun up to 55.3 from 53.5 last month. Nothing much, see:
http://www.martincapital.com/chart-pgs/Pg_ism.htm
Jul 1 10:00 AM Construction Spending May down -0.6% from initially reported 0.4% last month
.
Tuesday
Factory Orders May regained 0.8% of the -1.2% loss incurred last month.
This Week
Jul 6 7:00 AM MBA Mortgage Index 07/02
Jul 6 7:30 AM Challenger Job Cuts Jun
Jul 6 8:15 AM ADP Employment Change Jun
Jul 6 10:00 AM ISM Services Jun
Jul 7 8:15 AM ADP Employment Change
Jul 7 8:30 AM Initial Claims 07/02
Jul 7 8:30 AM Continuing Claims 06/25
Jul 7 11:00 AM Crude Inventories 07/02
Jul 8 8:30 AM Nonfarm Payrolls Jun
Jul 8 8:30 AM Nonfarm Private Payrolls Jun
Jul 8 8:30 AM Unemployment Rate Jun
Jul 8 8:30 AM Average Workweek Jun
Jul 8 8:30 AM Hourly Earnings Jun
Jul 8 10:00 AM Wholesale Inventories May
Jul 8 3:00 PM Consumer Credit May
Market Outlook July 6, 2011
U.S. stocks were flat Tuesday on low volume as investors back away. The very old short term hedge fund strategy calls for entering the market by the next to last trading day each month and exiting by the 4th trading day of the following month. It is best at the end of a quarter when the funds want to dress up their returns.
The stock market bubble is up near 2007 levels while real unemployment stands close to 20% and state and local governments have run up many $trillions in deficits that have to be paid back. See:
http://finance.yahoo.com/q/ta?s=^NYA&t=5y&l=on&z=m&q=l&p=e50%2Ce100&a=m26-12-9&c=
and the S&P:
http://finance.yahoo.com/q/ta?s=^GSPC&t=5y&l=on&z=m&q=l&p=m50%2Ce100&a=m26-12-9&c=
and the DJI shows a head and shoulders sell signal forming too.
http://finance.yahoo.com/q/ta?s=^DJI&t=5y&l=on&z=m&q=l&p=e100%2Ce50&a=m26-12-9&c=
Low VIX correlates with overconfidence and immanent decline and now fear must rise substantially before the current market sell-off can be considered over. Look how high the VIX has to go now before the bottom is hit in the past!
http://finance.yahoo.com/q/bc?s=^VIX&t=6m&l=on&z=m&q=l&c=
Recovery is one of Obama’s big lies just like his campaign lie that we were in a depression one year before the leftists destroyed American real estate and banks by requiring US banks give mortgages to people of Obama’s ethnic heritage who had no visible source of income to make the mortgage payments. Click on the 5yr chart and see full effect of the slowdown in world dry shipments. See:
http://www.bloomberg.com/apps/quote?ticker=BDIY:IND
Asian Stocks were down last night. China down -0.2%, Hong Kong down –1%, India down -0.1%, and Japan up 1.1%.
European markets are down this morning in a range of about –0.9% to –0.2% half way through their day.
American markets are down near -0.3% this morning at 7 AM
.
Speculators in oil have called Obama’s bluff about pumping out oil reserves. Tuesday marked oil future’s highest closing level since Obama made his promise to keep oil prices below $100/barrel. No one believes anything Obama says anymore. He is America’s first lame duck one term president. Insiders say Hilary Clinton will challenge Obama because he is the least competent president since Lyndon Johnson. Insiders say Obama will then withdraw from the race and support Hilary after the New Hampshire primary.
The report released by the president's Council of Economic Advisers late Friday ahead of the July 4 holiday weekend estimated the Recovery Act saved or created between 2.4 million and 3.6 million jobs by the end of March 2011. Spending equaled $666 billion by that time. President Obama's economic advisers showed that jobs created or saved by the stimulus bill only cost taxpayers $278,000 each but unfortunately states are already laying those temporary employees off.
What a great bonus for welfare folks who are of Obama’s special ethnic heritage and approved for handouts of $1.25 billion). There are 30,000 purported descendants (5 times actual proven descendants) of farmers of Obama’s ethnic origin or $417,000 per person.
https://www.blackfarmercase.com//Background.aspx
Mexican investigation continues into the Obama operation that helped send thousands of guns south of the border, after which Obama used it as an excuse to try to disarm Americans. Mexican lawmakers say they'll press for extradition and prosecution in Mexico of Obama officials who authorized and ran the operation. "I obviously feel violated. I feel my country's sovereignty was violated," Mexico Sen. Rene Arce Islas told Fox News. "They should be tried in the United States and the Mexican government should also demand that they also be tried in Mexico since the incidents took place here. There should be trials in both places."
Taxpayers including most seniors want welfare entitlements cut and federal and state employee health benefits, and pensions cut. Retired seniors are still paying more in taxes than Obama’s welfare voting base. Obama keeps threatening to cut taxpayer earned social security to retired taxpayers if Republicans cut entitlements to federal and state employees who constitute dangerously big government like Greece.
The White House released its 2011 report to Congress. Salaries of top aides working for the president $172,000 so no one would pay more taxes under the president’s plan which affects $200,000 or higher.
When half of the people get the idea that they do not have to work because the other half is going to take care of them, and when the other half gets the idea that it does no good to work, because somebody else is going to get what they worked for, that is the beginning of the end of any government. It is called the tyranny of the majority.
Clinton said Obama lacks not only hope and change but also common sense long-term budgeting and planning needed for success. “We’ve gotten ourselves in a position where we’re spending too much money on today and yesterday, and not money enough on tomorrow,” he said during the first panel discussion at the Clinton Global Initiative’s two-day conference in Chicago. “We’re borrowing too much, so that once the economy picks up, we’re creating tomorrow’s problem.” Clinton said the nation needs to find a better mix for the proportion of the U.S. gross domestic product that is represented by federal spending and taxes. “We can’t afford to spend 25 percent of GDP on government expenditures,” he said. “I don’t think we can afford to tax at only 15 percent of GDP, either, which is about where we are.”
World Markets:
China raised benchmark interest rates for the third time this year after inflation accelerated to the fastest pace since July 2008. The one-year deposit rate rises to 3.5 percent from 3.25 percent, effective tomorrow, the People’s Bank of China said on its website today. The one-year lending rate will increase to 6. 56 percent from 6.31 percent. The Obama incompetence has a 0.25% rate and US inflation exceeds US growth. (i.e. real growth is 1.9%-2% = -0.1% Obama net growth).
Moody's Investors Service on Tuesday cut Portugal's debt rating to junk ratcheting up the pressure on euro zone governments to cut government jobs.
Moody’s Investors Service said the Chinese banks credit rating could be cut. Chinese banks’ loans to local governments are about 3.5 trillion yuan ($540 billion) more than the national auditor’s estimate”.
Denmark’s banks face a decline in earnings as the fallout from Europe’s toughest resolution laws sends funding costs higher.
US Economic Highlights
Past Week
Initial Claims 06/25 428K unchanged from first reported last week 429K
Continuing Claims 06/18 3702K from first reported last week3697K
Chicago PMI Jun 61.1 up from 56.6 , good but specious Obama manipulation of data USSR style
Michigan Sentiment - June down to 71.5 from 71.8 last month.
Jul 1 10:00 AM ISM Index Jun up to 55.3 from 53.5 last month. Nothing much, see:
http://www.martincapital.com/chart-pgs/Pg_ism.htm
Jul 1 10:00 AM Construction Spending May down -0.6% from initially reported 0.4% last month
.
Tuesday
Factory Orders May regained 0.8% of the -1.2% loss incurred last month.
This Week
Jul 6 7:00 AM MBA Mortgage Index 07/02
Jul 6 7:30 AM Challenger Job Cuts Jun
Jul 6 8:15 AM ADP Employment Change Jun
Jul 6 10:00 AM ISM Services Jun
Jul 7 8:15 AM ADP Employment Change
Jul 7 8:30 AM Initial Claims 07/02
Jul 7 8:30 AM Continuing Claims 06/25
Jul 7 11:00 AM Crude Inventories 07/02
Jul 8 8:30 AM Nonfarm Payrolls Jun
Jul 8 8:30 AM Nonfarm Private Payrolls Jun
Jul 8 8:30 AM Unemployment Rate Jun
Jul 8 8:30 AM Average Workweek Jun
Jul 8 8:30 AM Hourly Earnings Jun
Jul 8 10:00 AM Wholesale Inventories May
Jul 8 3:00 PM Consumer Credit May
Market Outlook July 6, 2011
U.S. stocks were flat Tuesday on low volume as investors back away. The very old short term hedge fund strategy calls for entering the market by the next to last trading day each month and exiting by the 4th trading day of the following month. It is best at the end of a quarter when the funds want to dress up their returns.
The stock market bubble is up near 2007 levels while real unemployment stands close to 20% and state and local governments have run up many $trillions in deficits that have to be paid back. See:
http://finance.yahoo.com/q/ta?s=^NYA&t=5y&l=on&z=m&q=l&p=e50%2Ce100&a=m26-12-9&c=
and the S&P:
http://finance.yahoo.com/q/ta?s=^GSPC&t=5y&l=on&z=m&q=l&p=m50%2Ce100&a=m26-12-9&c=
and the DJI shows a head and shoulders sell signal forming too.
http://finance.yahoo.com/q/ta?s=^DJI&t=5y&l=on&z=m&q=l&p=e100%2Ce50&a=m26-12-9&c=
Low VIX correlates with overconfidence and immanent decline and now fear must rise substantially before the current market sell-off can be considered over. Look how high the VIX has to go now before the bottom is hit in the past!
http://finance.yahoo.com/q/bc?s=^VIX&t=6m&l=on&z=m&q=l&c=
Recovery is one of Obama’s big lies just like his campaign lie that we were in a depression one year before the leftists destroyed American real estate and banks by requiring US banks give mortgages to people of Obama’s ethnic heritage who had no visible source of income to make the mortgage payments. Click on the 5yr chart and see full effect of the slowdown in world dry shipments. See:
http://www.bloomberg.com/apps/quote?ticker=BDIY:IND
Asian Stocks were down last night. China down -0.2%, Hong Kong down –1%, India down -0.1%, and Japan up 1.1%.
European markets are down this morning in a range of about –0.9% to –0.2% half way through their day.
American markets are down near -0.3% this morning at 7 AM
Tuesday, July 5, 2011
Taxpayers including most seniors want welfare entitlements cut and federal and state employee pensions, health benefits, and pensions cut.
Taxpayers including most seniors want welfare entitlements cut and federal and state employee health benefits, and pensions cut. Retired seniors are still paying more in taxes than Obama’s welfare voting base. Obama keeps threatening to cut taxpayer earned social security to retired taxpayers if Republicans cut entitlements to federal and state employees who constitute dangerously big government like Greece.
The White House released its 2011 report to Congress. Salaries of top aides working for the president $172,000 so no one would pay more taxes under the president’s plan which affects $200,000 or higher.
When half of the people get the idea that they do not have to work because the other half is going to take care of them, and when the other half gets the idea that it does no good to work, because somebody else is going to get what they worked for, that is the beginning of the end of any government. It is called the tyranny of the majority.
Former President Bill Clinton said Obama lacks not only hope and change but also common sense long-term budgeting and planning needed for success. “We’ve gotten ourselves in a position where we’re spending too much money on today and yesterday, and not money enough on tomorrow,” he said during the first panel discussion at the Clinton Global Initiative’s two-day conference in Chicago. “We’re borrowing too much, so that once the economy picks up, we’re creating tomorrow’s problem.” Clinton said the nation needs to find a better mix for the proportion of the U.S. gross domestic product that is represented by federal spending and taxes. “We can’t afford to spend 25 percent of GDP on government expenditures,” he said. “I don’t think we can afford to tax at only 15 percent of GDP, either, which is about where we are.”
World Markets:
Japan’s disaster reconstruction minister quit a week into his job after publicly scolding the governor of a tsunami-devastated region, further damaging Prime Minister Naoto Kan’s embattled administration.
Moody’s Investors Service said the Chinese banks credit rating could be cut. Chinese banks’ loans to local governments are about 3.5 trillion yuan ($540 billion) more than the national auditor’s estimate”.
Denmark’s banks face a decline in earnings as the fallout from Europe’s toughest resolution laws sends funding costs higher.
US Economic Highlights
Past Week
Initial Claims 06/25 428K unchanged from first reported last week 429K
Continuing Claims 06/18 3702K from first reported last week3697K
Chicago PMI Jun 61.1 up from 56.6 , good but specious Obama manipulation of data USSR style
Michigan Sentiment - June down to 71.5 from 71.8 last month.
Jul 1 10:00 AM ISM Index Jun up to 55.3 from 53.5 last month. Nothing much, see:
http://www.martincapital.com/chart-pgs/Pg_ism.htm
Jul 1 10:00 AM Construction Spending May down -0.6% from initially reported 0.4% last month.
This Week
Jul 5 10:00 AM Factory Orders May
Jul 6 7:00 AM MBA Mortgage Index 07/02
Jul 6 7:30 AM Challenger Job Cuts Jun
Jul 6 8:15 AM ADP Employment Change Jun
Jul 6 10:00 AM ISM Services Jun
Jul 7 8:15 AM ADP Employment Change
Jul 7 8:30 AM Initial Claims 07/02
Jul 7 8:30 AM Continuing Claims 06/25
Jul 7 11:00 AM Crude Inventories 07/02
Jul 8 8:30 AM Nonfarm Payrolls Jun
Jul 8 8:30 AM Nonfarm Private Payrolls Jun
Jul 8 8:30 AM Unemployment Rate Jun
Jul 8 8:30 AM Average Workweek Jun
Jul 8 8:30 AM Hourly Earnings Jun
Jul 8 10:00 AM Wholesale Inventories May
Jul 8 3:00 PM Consumer Credit May
Market Outlook July 5, 2011
So how can stocks be selling at only 13 times earnings? That was QE2 going to the bottom line of corporations. With the end of QE2 is that bottom line benefit going to fall or will it hold constant until the FED reduces its balance sheet? No one knows at this point.
U.S. stocks rose Friday and broke the 50 DMA and 100 DMA resistance lines at their crossover. However it is still not a buy signal. This very old short term hedge fund strategy calls for entering the market by the next to last trading day each month and exiting by the 4th trading day of the following month. It is best at the end of a quarter when the funds want to dress up their returns.
The stock market bubble is up near 2007 levels while real unemployment stands close to 20% and state and local governments have run up many $trillions in deficits that have to be paid back. See:
http://finance.yahoo.com/q/ta?s=^NYA&t=5y&l=on&z=m&q=l&p=e50%2Ce100&a=m26-12-9&c=
and the S&P:
http://finance.yahoo.com/q/ta?s=^GSPC&t=5y&l=on&z=m&q=l&p=m50%2Ce100&a=m26-12-9&c=
and the DJI shows a head and shoulders sell signal forming too.
http://finance.yahoo.com/q/ta?s=^DJI&t=5y&l=on&z=m&q=l&p=e100%2Ce50&a=m26-12-9&c=
Low VIX correlates with overconfidence and immanent decline and now fear must rise substantially before the current market sell-off can be considered over. Look how high the VIX has to go now before the bottom is hit in the past!
http://finance.yahoo.com/q/bc?s=^VIX&t=6m&l=on&z=m&q=l&c=
This was Cramer/Lenin/Pravda’s main chart for claiming growth until it showed world stagnation instead. Recovery is one of Obama’s big lies just like his campaign lie that we were in a depression one year before the leftists destroyed American real estate and banks by requiring US banks give mortgages to people of Obama’s ethnic heritage who had no visible source of income to make the mortgage payments. Click on the 5yr chart and see full effect of the slowdown in world dry shipments. See:
http://www.bloomberg.com/apps/quote?ticker=BDIY:IND
Florida is firing 1,300 workers. New York is cutting education funding and freezing public employee wages for three years. Arizona is slashing Medicaid coverage.
Asian Stocks were up Monday and flat last night. China up 0.1%, Hong Kong down -0.1%, India down -0.4%, and Japan up 0.1%.
European markets are flat this morning in a range of about –0.5% to 0.4% half way through their day.
American markets are up near 0.3% this morning at 7 AM
The White House released its 2011 report to Congress. Salaries of top aides working for the president $172,000 so no one would pay more taxes under the president’s plan which affects $200,000 or higher.
When half of the people get the idea that they do not have to work because the other half is going to take care of them, and when the other half gets the idea that it does no good to work, because somebody else is going to get what they worked for, that is the beginning of the end of any government. It is called the tyranny of the majority.
Former President Bill Clinton said Obama lacks not only hope and change but also common sense long-term budgeting and planning needed for success. “We’ve gotten ourselves in a position where we’re spending too much money on today and yesterday, and not money enough on tomorrow,” he said during the first panel discussion at the Clinton Global Initiative’s two-day conference in Chicago. “We’re borrowing too much, so that once the economy picks up, we’re creating tomorrow’s problem.” Clinton said the nation needs to find a better mix for the proportion of the U.S. gross domestic product that is represented by federal spending and taxes. “We can’t afford to spend 25 percent of GDP on government expenditures,” he said. “I don’t think we can afford to tax at only 15 percent of GDP, either, which is about where we are.”
World Markets:
Japan’s disaster reconstruction minister quit a week into his job after publicly scolding the governor of a tsunami-devastated region, further damaging Prime Minister Naoto Kan’s embattled administration.
Moody’s Investors Service said the Chinese banks credit rating could be cut. Chinese banks’ loans to local governments are about 3.5 trillion yuan ($540 billion) more than the national auditor’s estimate”.
Denmark’s banks face a decline in earnings as the fallout from Europe’s toughest resolution laws sends funding costs higher.
US Economic Highlights
Past Week
Initial Claims 06/25 428K unchanged from first reported last week 429K
Continuing Claims 06/18 3702K from first reported last week3697K
Chicago PMI Jun 61.1 up from 56.6 , good but specious Obama manipulation of data USSR style
Michigan Sentiment - June down to 71.5 from 71.8 last month.
Jul 1 10:00 AM ISM Index Jun up to 55.3 from 53.5 last month. Nothing much, see:
http://www.martincapital.com/chart-pgs/Pg_ism.htm
Jul 1 10:00 AM Construction Spending May down -0.6% from initially reported 0.4% last month.
This Week
Jul 5 10:00 AM Factory Orders May
Jul 6 7:00 AM MBA Mortgage Index 07/02
Jul 6 7:30 AM Challenger Job Cuts Jun
Jul 6 8:15 AM ADP Employment Change Jun
Jul 6 10:00 AM ISM Services Jun
Jul 7 8:15 AM ADP Employment Change
Jul 7 8:30 AM Initial Claims 07/02
Jul 7 8:30 AM Continuing Claims 06/25
Jul 7 11:00 AM Crude Inventories 07/02
Jul 8 8:30 AM Nonfarm Payrolls Jun
Jul 8 8:30 AM Nonfarm Private Payrolls Jun
Jul 8 8:30 AM Unemployment Rate Jun
Jul 8 8:30 AM Average Workweek Jun
Jul 8 8:30 AM Hourly Earnings Jun
Jul 8 10:00 AM Wholesale Inventories May
Jul 8 3:00 PM Consumer Credit May
Market Outlook July 5, 2011
So how can stocks be selling at only 13 times earnings? That was QE2 going to the bottom line of corporations. With the end of QE2 is that bottom line benefit going to fall or will it hold constant until the FED reduces its balance sheet? No one knows at this point.
U.S. stocks rose Friday and broke the 50 DMA and 100 DMA resistance lines at their crossover. However it is still not a buy signal. This very old short term hedge fund strategy calls for entering the market by the next to last trading day each month and exiting by the 4th trading day of the following month. It is best at the end of a quarter when the funds want to dress up their returns.
The stock market bubble is up near 2007 levels while real unemployment stands close to 20% and state and local governments have run up many $trillions in deficits that have to be paid back. See:
http://finance.yahoo.com/q/ta?s=^NYA&t=5y&l=on&z=m&q=l&p=e50%2Ce100&a=m26-12-9&c=
and the S&P:
http://finance.yahoo.com/q/ta?s=^GSPC&t=5y&l=on&z=m&q=l&p=m50%2Ce100&a=m26-12-9&c=
and the DJI shows a head and shoulders sell signal forming too.
http://finance.yahoo.com/q/ta?s=^DJI&t=5y&l=on&z=m&q=l&p=e100%2Ce50&a=m26-12-9&c=
Low VIX correlates with overconfidence and immanent decline and now fear must rise substantially before the current market sell-off can be considered over. Look how high the VIX has to go now before the bottom is hit in the past!
http://finance.yahoo.com/q/bc?s=^VIX&t=6m&l=on&z=m&q=l&c=
This was Cramer/Lenin/Pravda’s main chart for claiming growth until it showed world stagnation instead. Recovery is one of Obama’s big lies just like his campaign lie that we were in a depression one year before the leftists destroyed American real estate and banks by requiring US banks give mortgages to people of Obama’s ethnic heritage who had no visible source of income to make the mortgage payments. Click on the 5yr chart and see full effect of the slowdown in world dry shipments. See:
http://www.bloomberg.com/apps/quote?ticker=BDIY:IND
Florida is firing 1,300 workers. New York is cutting education funding and freezing public employee wages for three years. Arizona is slashing Medicaid coverage.
Asian Stocks were up Monday and flat last night. China up 0.1%, Hong Kong down -0.1%, India down -0.4%, and Japan up 0.1%.
European markets are flat this morning in a range of about –0.5% to 0.4% half way through their day.
American markets are up near 0.3% this morning at 7 AM
Friday, July 1, 2011
Several organizations lambasted Obama for his Anti American business rhetoric yesterday.
Several organizations lambasted Obama for his Anti American business rhetoric yesterday.
While Boeing is fighting Obama’s effort to stop Carolina’s right to work laws and give big leftist labor unions power to destroy Boeing, Obama wants to raise taxes on the American private jet industry. National Business Aviation Association President Ed Bolen said, “The president has inexplicably chosen to vilify and mischaracterize business aviation -- an industry that is critical for citizens, companies and communities across the U.S., and one that can play a central role in the economic recovery he says he wants to promote". Bolen called on Congress to reject the Obama’s anti American business rhetoric. Ed Bolen said the current tax structure for jet owners as a "proven formula for incentivizing the purchase of American products." "Equally alarming, the president's disparaging remarks reflect a total lack of understanding -- or a complete disregard -- for general aviation in the U.S.," Bolen said, describing his proposal as "bad policy and cynical politics." If Obama cares about helping the poor why does each flight he and his family takes cost hundreds of millions of dollars?
Meanwhile Obama’s business advisor from GE is buying $billions of Airbus Airplanes made in Europe.
The first sign of what would ultimately become a $3 billion fraud surfaced Jan. 11, 2000, when Fannie Mae executive Samuel Smith discovered Taylor, Bean & Whitaker Mortgage Corp. sold him a loan they did not even own. Seven years passed before federal regulators shut down Taylor Bean and prosecutors charged them with orchestrating the $3 billion scam that expanded to “Country Wide” and other Obama election contributors. They got federal bank bailout funds and contributed to the failures of Montgomery, Alabama-based Colonial Bank and its parent, Colonial BancGroup, once among the nation’s 25 biggest depository banks. Taylor Bean would have collapsed then in 2002 according to prosecutors but it survived because government run Freddie Mac began picking up the company’s business within a week of government run Fannie Mae’s cutoff. Obama-Dodd government Senate protected Freddie Mac soon became Taylor Bean’s biggest customer, and the mortgage company grew to be one of its biggest bogus revenue producers, accounting for about 2 percent of single-family home mortgages by volume in 2009, according to a Freddie Mac filing. The culprit gets 30 years for the $3 billion fraud or $300million for each year he serves in prison.
Former President Bill Clinton said Obama lacks not only hope and change but also common sense long-term budgeting and planning needed for success. “We’ve gotten ourselves in a position where we’re spending too much money on today and yesterday, and not money enough on tomorrow,” he said during the first panel discussion at the Clinton Global Initiative’s two-day conference in Chicago. “We’re borrowing too much, so that once the economy picks up, we’re creating tomorrow’s problem.” Clinton said the nation needs to find a better mix for the proportion of the U.S. gross domestic product that is represented by federal spending and taxes. “We can’t afford to spend 25 percent of GDP on government expenditures,” he said. “I don’t think we can afford to tax at only 15 percent of GDP, either, which is about where we are.”
If you bet on Obama you are betting on a Great Depression because he has no plan. Obama only criticizes other people’s plans because he is a coward and afraid to cut government spending.
The NLRB alleges that Boeing violated labor laws by opening a new production line for its 787 airplane in South Carolina to reduce Dreamliner production costs. Obama’s leftist Administrative Law Judge Clifford Anderson is agreed in an early victory for the National Labor Relations Board, which has been widely criticized by business groups for bringing the case. Meanwhile Obama’s business advisor has GE buying $Billions of new Airbus jets.
World Markets:
China’s money supply has declined from 30 percent year-over-year in December 2009 to 15 percent year-over-year at the end of May. The HSBC Flash China Manufacturing Purchasing Managers Index in June fell to 50.1, its lowest level in 11 months. Bank loans fell 25 percent in May from April. China may be in for a hard landing.
Canadians’ confidence in the country’s economic prospects fell to its lowest in two years amid concern that the global recovery is stalling. The proportion of Canadians who predict a weaker economy in the next six months rose to 23.6 percent from 19.1 percent in March.
US Economic Highlights
Past Week
This time Obama had them drop last months first two statistics to make this month look better. We will use the original numbers.
Monday
Consumer spending stagnated in May as employment prospects dimmed and inflation rose to 3.6%/ year.
Personal Income May 0.2%, down from 0.4% reported last month.
Personal Spending May –0.1%, down from 0.4% last month
PCE Prices - Core inflation May 0.3% or 3.6%/yr, above the FED 2.5%/yr target level
Case-Shiller 20-city Index Apr showed new housing prices down -3.96% in April to an 11 month low. Prices decreased in the year ended April by the most in 17 months, showing genius Obama’s housing zero down payment policy for people who cannot afford a house remains a major obstacle for the U.S. recovery. Also the S&P/Case-Shiller index of property values in 20 cities fell 4 percent from April 2010, the biggest drop since November 2009, the group said today in New York. A backlog of foreclosures and falling sales raise the risk that prices will decline further, discouraging builders from taking on new projects. The drop in property values and a jobless rate hovering around 9 percent are holding back consumer sentiment and spending, which accounts for 70 percent of the economy.
Consumer confidence unexpectedly fell in June to a seven- month low, indicating that slowing employment gains are weighing on Americans’ outlooks, another report today showed. The Conference Board’s index decreased to 58.5 from a revised 61.7 reading in May that was worse than previously estimated.
http://www.martincapital.com/chart-pgs/Pg_conco.htm
MBA Mortgage Index 06/25 -2.7% Vs -5.9% showing home prices are not dropping as fast as before.
Pending Home Sales May rose 8.2% Vs slowing last month -11.6%. At the Obama’s rate it will take over 60 years to liquidate all the homes in default.
Crude Inventories 06/25 dropped -4.375M this week and -1.711M last week. Selling the oil reserves is doing nothing so far for increasing oil available and prices are rising again.
Yesterday
Initial Claims 06/25 428K unchanged from first reported last week 429K
Jun 30 8:30 AM Continuing Claims 06/18 3702K from first reported last week3697K
Jun 30 9:45 AM Chicago PMI Jun 61.1 up from 56.6
This week’s coming reports
Jul 1 9:55 AM Michigan Sentiment - Final Jun
Jul 1 10:00 AM ISM Index Jun
Jul 1 10:00 AM Construction Spending May
Jul 1 3:00 PM Auto Sales Jun
Jul 1 3:00 PM Truck Sales
Market Outlook July 1, 2011
State of Minnesota started its second shutdown in 6 years, with a partisan divide preventing a deal on the $5B deficit. Democratic Gov. Mark Dayton refused to call a special session so lawmakers could pass a "lights on" budget bill to keep government running. Dayton refused, saying he's been clear for months that he would only agree to a total budget approach. Minnesota residents may discover they don’t need government as much as they thought.
U.S. stocks rose Thursday and hit the 50 DMA and 100 DMA resistance lines at their crossover. Today we look to see how the market will test the rally, as it seems to be forming a head and shoulders sell signal too. The stock market again on the new bear market resistance trend line! On a cash flow (not price basis) it is a lot worse. Looks like the market will now follow the upper limit down in a continuing bear market. See:
http://finance.yahoo.com/q/ta?s=^NYA&t=6m&l=on&z=m&q=l&p=%2Ce50%2Ce100&a=m26-12-9&c=
and the S&P:
http://finance.yahoo.com/q/ta?s=^GSPC&t=6m&l=on&z=m&q=l&p=m50%2Ce100&a=m26-12-9&c=
and the DJI shows a head and shoulders sell signal forming too.
http://finance.yahoo.com/q/ta?s=%5EDJI&t=6m&l=on&z=m&q=l&p=e100%2Ce50&a=m26-12-9&c=
The bear market bounce continued yesterday. We think it is a dead cat bounce because investors are complacent. The VIX is a measure of concern. Low VIX correlates with overconfidence and immanent decline and now fear must rise substantially before the current market sell-off can be considered over. Look how high the VIX has to go now before the bottom is hit in the past! The market typically bottoms with the VIX at 28 or higher. VIX now is only at 17 with 15 being complete investor complacency. It is up only 2 points and far from indicating a market bottom. But it could be starting to rise now.
http://finance.yahoo.com/q/bc?s=^VIX&t=3m&l=on&z=m&q=l&c=
Obama and MSNBC/Pravda have been lying about recovery since Obama got elected. This was Cramer/Lenin/Pravda’s main chart for claiming growth until it showed world stagnation instead. Recovery is one of Obama’s big lies just like his campaign lie that we were in a depression one year before the leftists destroyed American real estate and banks by requiring US banks give mortgages to people of Obama’s ethnic heritage who had no visible source of income to make the mortgage payments. Click on the 5yr chart and see full effect of the slowdown in world dry shipments. See:
http://www.bloomberg.com/apps/quote?ticker=BDIY:IND
Asian Stocks were up slightly last night. China down –0.12%, Hong Kong up 1.5%, India down -0.5%, and Japan up 0.5%.
European markets are flat this morning in a range of about –0.2% to 0.4% half way through their day.
American markets are flat near 0.1% this morning at 7 AM
While Boeing is fighting Obama’s effort to stop Carolina’s right to work laws and give big leftist labor unions power to destroy Boeing, Obama wants to raise taxes on the American private jet industry. National Business Aviation Association President Ed Bolen said, “The president has inexplicably chosen to vilify and mischaracterize business aviation -- an industry that is critical for citizens, companies and communities across the U.S., and one that can play a central role in the economic recovery he says he wants to promote". Bolen called on Congress to reject the Obama’s anti American business rhetoric. Ed Bolen said the current tax structure for jet owners as a "proven formula for incentivizing the purchase of American products." "Equally alarming, the president's disparaging remarks reflect a total lack of understanding -- or a complete disregard -- for general aviation in the U.S.," Bolen said, describing his proposal as "bad policy and cynical politics." If Obama cares about helping the poor why does each flight he and his family takes cost hundreds of millions of dollars?
Meanwhile Obama’s business advisor from GE is buying $billions of Airbus Airplanes made in Europe.
The first sign of what would ultimately become a $3 billion fraud surfaced Jan. 11, 2000, when Fannie Mae executive Samuel Smith discovered Taylor, Bean & Whitaker Mortgage Corp. sold him a loan they did not even own. Seven years passed before federal regulators shut down Taylor Bean and prosecutors charged them with orchestrating the $3 billion scam that expanded to “Country Wide” and other Obama election contributors. They got federal bank bailout funds and contributed to the failures of Montgomery, Alabama-based Colonial Bank and its parent, Colonial BancGroup, once among the nation’s 25 biggest depository banks. Taylor Bean would have collapsed then in 2002 according to prosecutors but it survived because government run Freddie Mac began picking up the company’s business within a week of government run Fannie Mae’s cutoff. Obama-Dodd government Senate protected Freddie Mac soon became Taylor Bean’s biggest customer, and the mortgage company grew to be one of its biggest bogus revenue producers, accounting for about 2 percent of single-family home mortgages by volume in 2009, according to a Freddie Mac filing. The culprit gets 30 years for the $3 billion fraud or $300million for each year he serves in prison.
Former President Bill Clinton said Obama lacks not only hope and change but also common sense long-term budgeting and planning needed for success. “We’ve gotten ourselves in a position where we’re spending too much money on today and yesterday, and not money enough on tomorrow,” he said during the first panel discussion at the Clinton Global Initiative’s two-day conference in Chicago. “We’re borrowing too much, so that once the economy picks up, we’re creating tomorrow’s problem.” Clinton said the nation needs to find a better mix for the proportion of the U.S. gross domestic product that is represented by federal spending and taxes. “We can’t afford to spend 25 percent of GDP on government expenditures,” he said. “I don’t think we can afford to tax at only 15 percent of GDP, either, which is about where we are.”
If you bet on Obama you are betting on a Great Depression because he has no plan. Obama only criticizes other people’s plans because he is a coward and afraid to cut government spending.
The NLRB alleges that Boeing violated labor laws by opening a new production line for its 787 airplane in South Carolina to reduce Dreamliner production costs. Obama’s leftist Administrative Law Judge Clifford Anderson is agreed in an early victory for the National Labor Relations Board, which has been widely criticized by business groups for bringing the case. Meanwhile Obama’s business advisor has GE buying $Billions of new Airbus jets.
World Markets:
China’s money supply has declined from 30 percent year-over-year in December 2009 to 15 percent year-over-year at the end of May. The HSBC Flash China Manufacturing Purchasing Managers Index in June fell to 50.1, its lowest level in 11 months. Bank loans fell 25 percent in May from April. China may be in for a hard landing.
Canadians’ confidence in the country’s economic prospects fell to its lowest in two years amid concern that the global recovery is stalling. The proportion of Canadians who predict a weaker economy in the next six months rose to 23.6 percent from 19.1 percent in March.
US Economic Highlights
Past Week
This time Obama had them drop last months first two statistics to make this month look better. We will use the original numbers.
Monday
Consumer spending stagnated in May as employment prospects dimmed and inflation rose to 3.6%/ year.
Personal Income May 0.2%, down from 0.4% reported last month.
Personal Spending May –0.1%, down from 0.4% last month
PCE Prices - Core inflation May 0.3% or 3.6%/yr, above the FED 2.5%/yr target level
Case-Shiller 20-city Index Apr showed new housing prices down -3.96% in April to an 11 month low. Prices decreased in the year ended April by the most in 17 months, showing genius Obama’s housing zero down payment policy for people who cannot afford a house remains a major obstacle for the U.S. recovery. Also the S&P/Case-Shiller index of property values in 20 cities fell 4 percent from April 2010, the biggest drop since November 2009, the group said today in New York. A backlog of foreclosures and falling sales raise the risk that prices will decline further, discouraging builders from taking on new projects. The drop in property values and a jobless rate hovering around 9 percent are holding back consumer sentiment and spending, which accounts for 70 percent of the economy.
Consumer confidence unexpectedly fell in June to a seven- month low, indicating that slowing employment gains are weighing on Americans’ outlooks, another report today showed. The Conference Board’s index decreased to 58.5 from a revised 61.7 reading in May that was worse than previously estimated.
http://www.martincapital.com/chart-pgs/Pg_conco.htm
MBA Mortgage Index 06/25 -2.7% Vs -5.9% showing home prices are not dropping as fast as before.
Pending Home Sales May rose 8.2% Vs slowing last month -11.6%. At the Obama’s rate it will take over 60 years to liquidate all the homes in default.
Crude Inventories 06/25 dropped -4.375M this week and -1.711M last week. Selling the oil reserves is doing nothing so far for increasing oil available and prices are rising again.
Yesterday
Initial Claims 06/25 428K unchanged from first reported last week 429K
Jun 30 8:30 AM Continuing Claims 06/18 3702K from first reported last week3697K
Jun 30 9:45 AM Chicago PMI Jun 61.1 up from 56.6
This week’s coming reports
Jul 1 9:55 AM Michigan Sentiment - Final Jun
Jul 1 10:00 AM ISM Index Jun
Jul 1 10:00 AM Construction Spending May
Jul 1 3:00 PM Auto Sales Jun
Jul 1 3:00 PM Truck Sales
Market Outlook July 1, 2011
State of Minnesota started its second shutdown in 6 years, with a partisan divide preventing a deal on the $5B deficit. Democratic Gov. Mark Dayton refused to call a special session so lawmakers could pass a "lights on" budget bill to keep government running. Dayton refused, saying he's been clear for months that he would only agree to a total budget approach. Minnesota residents may discover they don’t need government as much as they thought.
U.S. stocks rose Thursday and hit the 50 DMA and 100 DMA resistance lines at their crossover. Today we look to see how the market will test the rally, as it seems to be forming a head and shoulders sell signal too. The stock market again on the new bear market resistance trend line! On a cash flow (not price basis) it is a lot worse. Looks like the market will now follow the upper limit down in a continuing bear market. See:
http://finance.yahoo.com/q/ta?s=^NYA&t=6m&l=on&z=m&q=l&p=%2Ce50%2Ce100&a=m26-12-9&c=
and the S&P:
http://finance.yahoo.com/q/ta?s=^GSPC&t=6m&l=on&z=m&q=l&p=m50%2Ce100&a=m26-12-9&c=
and the DJI shows a head and shoulders sell signal forming too.
http://finance.yahoo.com/q/ta?s=%5EDJI&t=6m&l=on&z=m&q=l&p=e100%2Ce50&a=m26-12-9&c=
The bear market bounce continued yesterday. We think it is a dead cat bounce because investors are complacent. The VIX is a measure of concern. Low VIX correlates with overconfidence and immanent decline and now fear must rise substantially before the current market sell-off can be considered over. Look how high the VIX has to go now before the bottom is hit in the past! The market typically bottoms with the VIX at 28 or higher. VIX now is only at 17 with 15 being complete investor complacency. It is up only 2 points and far from indicating a market bottom. But it could be starting to rise now.
http://finance.yahoo.com/q/bc?s=^VIX&t=3m&l=on&z=m&q=l&c=
Obama and MSNBC/Pravda have been lying about recovery since Obama got elected. This was Cramer/Lenin/Pravda’s main chart for claiming growth until it showed world stagnation instead. Recovery is one of Obama’s big lies just like his campaign lie that we were in a depression one year before the leftists destroyed American real estate and banks by requiring US banks give mortgages to people of Obama’s ethnic heritage who had no visible source of income to make the mortgage payments. Click on the 5yr chart and see full effect of the slowdown in world dry shipments. See:
http://www.bloomberg.com/apps/quote?ticker=BDIY:IND
Asian Stocks were up slightly last night. China down –0.12%, Hong Kong up 1.5%, India down -0.5%, and Japan up 0.5%.
European markets are flat this morning in a range of about –0.2% to 0.4% half way through their day.
American markets are flat near 0.1% this morning at 7 AM
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