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Archive for March, 2009

wow!!
Obama will give up to $8,000 or less if you trade in a car 8 years old for better mileage new cars.

Of course, this is regressive because Acorn members don’t buy new cars, and the price of junks will go up because my kids will go buy $300 junks and trade them in for $8,000, but, hey, its for the economy.

And you cannot raise taxes unless you give money away on brainless schemes.

Any time the government intervenes in the economy to “make life better” or to stimulate an industry, the government always does more harm than good.

Still I will trade in my 19 year old perfect condition car for a brand new one because after the $8,000 Obama is offering today I can get a brand new car for $11,000 to $12,000

Gee? Is that too good to be true?

Do you think GM and F will raise prices on new cars and eliminate anll the cash back incentives so that a Taurus that I could have gotten yesterday for

MSRP            $22,500
Cash back         2,500
trade in          3,500
Negotiation/      2,000

March 22, 2009   14,500
After Cash for Clunkers
MSRP             $24,500
clunker            8,000

April 1, 2009     16,500

So I will pay $2,000 more for the car plus $6,000 more in taxes
My taxes will go up to pay the $6,000 to Ford

Way to go, food stamp baby President.

Change you can believe in.

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To see the graphical representation of this prediction, click on http://bigcharts.marketwatch.com/

 select:  advanced charts with  nasdaq as symbol

 10 years with frequency monthly

charts style candlestick

 Notice that in Oct Nov Dec of 2001 there was a 700 point, 51 percent  percent rally from the December 2001 low of 1387 up to  almost 2100.

That was a much larger rally than the current fools’ rally which is only 21 percent so far.

BUT the 2001 fools’ rally was followed by a 52 percent, 990 point drop down to 1108 on the Nasdaq index.

 The March 2009 low was 1265, and today the Nasdaq index is 1453.

 

My thesis is that this is a long term bear market. If I am correct than the current rally must drop down to the December 2001 low of 1450 and test that low before the Nasdaq market can  stay higher.

 

Most likely we will fail that test and drop to 1,000 or lower on the Nasdaq.

Personally, my family is 100 percent in insured bank deposits and short term treasuries. Munis are too risky right now.

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Obama’s approach to “saving” the economy is pure Leninist Communism

The facts are that the “working class” in the US is really two classes:

First Class are the Democrats who both as individuals and legislators spend more than they earn and are deeply in debt

Second class are the Republicans who as individuals and legislators save by spending less than they earn

Inflation rewards the Democrats/debtors and punishes the Republicans /savers by stealing the value of our savings and paying us nothing on our savings and then raising taxes on our investment income

Inflation is a regressive tax that steals from savers and rewards debtors

And that destroys every economy

Inflation cause wars and revolutions and one term Presidencies.

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The Obama Stock market is soaring on new home sales’ 4.7 Percent increase in January, but if you are experienced in how to read economic reports in detail, in reality the sales report is terrible. Consider the following:

Government statisticians have low confidence in the monthly sales report, which is subject to sizable revisions as well as large sampling and other statistical errors.

The median sales price fell to $200,900, down a record 18.1% compared with February 2008. This is the lowest median price since December 2003.

 Inventories of unsold homes  in February represent a 12.2 month supply at the current sales pace, another record on the wrong side.

The government revised January’s sales pace for new homes to 322,000 units, the record low for the series that started in 1963.

GOT THAT? JANUARY SALES ARE THE LOWEST SINCE 1963!

The February level is the second lowest level on record.

Wall Street has to be insane to consider these numbers encouraging.

January and February are the two lowest sales levels in history, and the difference between the two months is sampling error.

But wait, it gets even worse: The figures may overstate the level of sales, because they count canceled sales contracts, which have jumped in the past year.

Anyone who buys stocks based on this report deserves to get the Obama Rate of Return, ZerObama.

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Obama’s policies punish savings more than any President in history. Under “Change you can believe in” short term investments earn only 0.25 percent. That is less than the postage to send a check to the bank, and postage is going up while interest rates go down, and less than the gas money to drive to the bank.

CD rates for a year and longer only earn around 2 percent. Our savings cannot keep pace with inflation. China, France and Russia all want to dump the dollar because of the inflation Obama will cause, yet our savings earn nothing compared to inflation.

Under Obama, every dollar saved will become 90 cents, then 80 cents, then toilet paper.

So why save?

Exactly how is Obama moving us to save?

We lost more than half our savings in the stock market. Yes, there is a rally this month, but who can trust it to continue when businesses are closing down in every town at the same time that more jobs are moving to Communist China.

Perhaps Communism works better than Barackism Socialism? Communist China is not going bankrupt, but America is.

And to cap it off, Obama wants to raise taxes on any profits we might ever make in the stock market?

And Obama wants to raise taxes on interest and dividend income.

Exactly how is Obama moving us from borrow and spend to save and invest?

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Every Presidential press conference in my lifetime has been characterized with the reporters hollering for the President’s attention, but not with Obama! The reporters waited in uncharacteristic stoic silence, without even a hand gesture, as Phony Obama read each reporter’s name off the new giant teleprompter.

Then each reporter read the question that had been prearranged and rehearsed in advance, and Obama read the answer that David Axelrod and Gibbs had written for him.

Now that Obama’s slavish bond to the teleprompter has generated a website mocking him and his teleprompter, Axelrod banished the normal reflective glass teleprompters from the front of the podium to avoid the mockery.

But Brainless Barry cannot speak without a script, so they set up a giant TV screen behind the reporters, displaying the script exactly as it would appear on the old fashioned teleprompter.  Obama slavishly read every word that he spoke from the giant TV screen. They even faked the girl pretending to be surprised when he called her name.

To continue the theater, they even had Barry fake impatience with the question about why he waited days before commenting on AIG. What a fake joke! AIG is nothing but a sideshow to distract us from the real disaster, the trillions and trillions of dollars of deficits that even France, Russia and China cannot stomach. Even these Socialist nations comprehend that Obama is destroying the value of our currency, and these nations want some new currency that will be worth more than a “25 cents on the dollar Obama Dollar.”

The Ten Dollar loaf of bread and Ten Obama Dollar gallon of gas will happen during Barry’s first term.

Is it legal to refer to our black President as “slavish?” But he is enslaved to the teleprompter, no matter what its form.

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