WW3

Let's see if Obama can negotiate with a mental patient. A true test of skill. It doesn't matter if he succeeds because our missile defense system may work.

http://www.bloomberg.com/apps/news?pid=20601087&sid=aGjZayXyqTxc&refer=worldwide

U.S. ‘Likely’ Could Intercept North Korean Missile (Update1)

By Tony Capaccio

May 29 (Bloomberg) -- U.S. ground-based interceptor rockets would “likely” knock out a long-range North Korean missile before it could reach the American mainland, the Pentagon’s independent testing official said today.

“I believe we have a reasonable chance” of an intercept, Charles McQueary, director of operational test and evaluation, said in an interview as North Korea defied international condemnation of a nuclear test with another short-range missile launch.

“I’d put it ‘likely’ -- than ‘highly likely’ -- as opposed to putting it ‘unlikely,” he said on his last day in office after almost three years as the top weapons evaluator for the Defense Department.

McQueary’s office monitors and critiques the effectiveness of the nascent Boeing Co.-managed $35.5 billion ground-based system of what is now 28 interceptors placed since mid-2004 in silos at Fort Greely, Alaska, and Vandenberg Air Force Base, California.

North Korea on April 4 attempted to launch a satellite on what some analysts said was a three-stage rocket capable of carrying a warhead that might reach the U.S. The reclusive regime has launched six short-range missiles this week that, while not able to strike the U.S., have refocused attention on American defenses.

Preparations at Site

A defense official in Washington said there is no major movement of personnel and equipment at a North Korean site to suggest that a second long-range missile launch is imminent. The official said there is activity that points to possible preparations for a launch by August.

“There’s been very little testing so far” of the U.S. ground-based system compared with other missile-defense platforms, such as those on ships, McQueary said. “I wish we were further along, but we are not.”

Still, “if North Korea launched a missile or two against us, we wouldn’t sit back and say, ‘I wonder if we have enough test data in order to launch,’” McQueary said. “We would launch.”

Multiple Shots

In that scenario, the U.S. would likely launch multiple rockets at the incoming missile to raise the chance of an intercept, he said.

The ground-based Midcourse Defense system is a network of interceptor rockets linked by satellites, radar and communications networks. Chicago-based Boeing is the prime contractor. Northrop Grumman Corp., Raytheon Co. and Orbital Sciences Corp. are the top subcontractors.

The ground-based system, counting a December test, has had eight successful intercepts in 13 attempts since 1999.

Defense Secretary Robert Gates limited the number of interceptors that will be placed in the ground to 30 from 44 in April as part of an overhaul of defense programs. Gates said 30 is an adequate number to handle a North Korean threat.

AMERIKA

I don't usually post about the news but I found this article amazing. It takes PRAVDA to tell the truth about AMERIKA.

http://english.pravda.ru/opinion/columnists/107459-0/

It must be said, that like the breaking of a great dam, the American decent into Marxism is happening with breath taking speed, against the back drop of a passive, hapless sheeple, excuse me dear reader, I meant people.

True, the situation has been well prepared on and off for the past century, especially the past twenty years. The initial testing grounds was conducted upon our Holy Russia and a bloody test it was. But we Russians would not just roll over and give up our freedoms and our souls, no matter how much money Wall Street poured into the fists of the Marxists.

Those lessons were taken and used to properly prepare the American populace for the surrender of their freedoms and souls, to the whims of their elites and betters.

First, the population was dumbed down through a politicized and substandard education system based on pop culture, rather then the classics. Americans know more about their favorite TV dramas then the drama in DC that directly affects their lives. They care more for their "right" to choke down a McDonalds burger or a BurgerKing burger than for their constitutional rights. Then they turn around and lecture us about our rights and about our "democracy". Pride blind the foolish.

Then their faith in God was destroyed, until their churches, all tens of thousands of different "branches and denominations" were for the most part little more then Sunday circuses and their televangelists and top protestant mega preachers were more then happy to sell out their souls and flocks to be on the "winning" side of one pseudo Marxist politician or another. Their flocks may complain, but when explained that they would be on the "winning" side, their flocks were ever so quick to reject Christ in hopes for earthly power. Even our Holy Orthodox churches are scandalously liberalized in America.

The final collapse has come with the election of Barack Obama. His speed in the past three months has been truly impressive. His spending and money printing has been a record setting, not just in America's short history but in the world. If this keeps up for more then another year, and there is no sign that it will not, America at best will resemble the Wiemar Republic and at worst Zimbabwe.

These past two weeks have been the most breath taking of all. First came the announcement of a planned redesign of the American Byzantine tax system, by the very thieves who used it to bankroll their thefts, loses and swindles of hundreds of billions of dollars. These make our Russian oligarchs look little more then ordinary street thugs, in comparison. Yes, the Americans have beat our own thieves in the shear volumes. Should we congratulate them?

About this Forex Blog

I hope this blog helps everyone make money in these tough times. There are many brokerages that will let you trade with micro mini accounts. Although it may take time to build up the account these small amounts allow almost anyone to make money in this market.

Forex Trades

New Trades for Today:

None

Open Orders:

EUR/USD Buy 1.4074
AUD/JPY Buy 76.48
USD/JPY Sell 93.61
AUD/USD Buy 0.7914


Open Trades:

USD/CHF, USD/CAD, GBP/USD, GPY/JPY, EUR/JPY, CAD/JPY

Closed Trades since previous posting:

None

Forex Trades

New Trades for Today:

EUR/USD Buy 1.4074
AUD/JPY Buy 76.48 (Price Modified from previous post)

Open Orders:

EUR/JPY Buy 135.14
USD/JPY Sell 93.61
AUD/USD Buy 0.7914
CAD/JPY Buy 86.15

Open Trades:

USD/CHF, USD/CAD, GBP/USD, GPY/JPY

Closed Trades since previous posting:

EUR/USD

Trades for Today

New Trades for Today:


USD/JPY Sell 93.61
AUD/USD Buy 0.7914
AUD/JPY Buy 75.21
CAD/JPY Buy 86.15


EUR/USD, EUR/JPY, USD/CHF, USD/CAD, GBP/USD and GBP/JPY are open trades.

Currency Strength and Weakness

The Strongest Currency:

British Pound

The Weakest Currency:

US Dollar

Stay Long on the GBP/USD Pair. Trend is unlikely to change without unexpected news.

Forex Trades

Rank
Price Entry
1 USD/JPY Sell 5/14/2009
3 GBP/USD Buy 1.5400 New

2 AUD/USD Buy 0.7745 New

Forex Trades

Keep the trades and numbers from yesterday.

Forex Short Term Trades

Here are some short term trades for today. Please comment if useful.

Rank
2 EUR/USD Sell 1.2867
1 EUR/JPY Sell 125.95
3 USD/CHF Buy 1.1763

Forex Trades

Long Terms Trades

Rank Stop Stop
2 EUR/USD Sell 4/20/2009 1.3197
1 EUR/JPY Sell 4/20/2009 131.08
3 USD/CHF Buy 4/17/2009 1.1497


4 GBP/USD Buy 1.5120 NEW

There will be another posting regarding short terms trades

Comments

Please post comments if you find this information useful.

Stop losses are for long term trading only.

Forex Trades

Rank Stop Stop
2 EUR/USD Sell 1.2996 4/19/2009 1.3228
1 EUR/JPY Sell 128.70 4/19/2009 131.45
3 USD/CHF Buy 1.1847 4/17/2009 1.1475
USD/CAD CLOSED
USD/JPY CLOSED
GBP/USD CLOSED
GBP/JPY CLOSED
AUD/USD CLOSED
AUD/JPY CLOSED
CAD/JPY CLOSED

Current Forex Positions

EUR/USD New Trade Today
EUR/JPY New Trade Today
USD/CHF Long
USD/CAD Short
USD/JPY Closed
GBP/USD Long
GBP/JPY Closed
AUD/USD New Trade Today
AUD/JPY Long
CAD/JPY Long

FOREX Trades

Rank
2 EUR/USD Sell 1.2996 NEW
3 EUR/JPY Sell 128.70 NEW





1 AUD/USD Buy 0.7342 NEW

Forex Trades

Rank



4 USD/CAD Sell 1.2148

2 GBP/USD Buy 1.5010
1 GBP/JPY Buy 151.68


3 CAD/JPY Buy 77.34

New Forex Format Coming Soon.

There will be a new Forex website coming soon. This blog will be implemented with it.

Obama the idiot gives the Queen an ipod

Barack Obama met the Queen at Buckingham Palace today and gave her a gift of an iPod loaded with video footage and photographs of her 2007 United States visit to Richmond, Jamestown and Williamsburg in Virginia. In return, the Queen gave the President a silver framed signed photograph of herself and the Duke of Edinburgh - apparently a standard present for visiting dignitaries.

It is believed the Queen already has an iPod, a 6GB silver Mini version she is said to have bought in 2005 at the suggestion of Prince Andrew.

UPDATE: Pool reporter Richard Wolf of USA Today says that an Obama aide told him the President also gave the Queen a "rare songbook signed by Richard Rodgers". END UPDATE

Earlier, Mr Obama had spoken of his admiration for Her Majesty but indicated that his wife was handling the details of their royal meeting. "There's one last thing that I should mention that I love about Great Britain, and that is the Queen," he said at the end of his joint press conference with Gordon Brown.
"And so I'm very much looking forward to meeting her for the first time later this evening. And as you might imagine, Michelle has been really thinking that through -- because I think in the imagination of people throughout America, I think what the Queen stands for and her decency and her civility, what she represents, that's very important."
Mr Brown added: "Well, I know the Queen is looking forward to welcoming you and she's very much looking forward to her discussion with you."
There was widespread criticism in Britain and from Anglophiles in the US of Mr Obama's recent present to Mr Brown of a box set of classic American movies on DVDs that were not compatible with British DVD players.

Swiss banks ban top executive travel

Swiss banks ban top executive travel
By Richard Milne in Geneva
Published: March 26 2009 19:08 Last updated: March 26 2009 19:08
Switzerland’s private banks have started to ban their top executives from travelling abroad, even to neighbouring France and Germany, because of fears they will be detained as part of a global crackdown on bank secrecy.
The head of one leading private bank in Geneva said the growing determination of countries such as the US and Germany to tackle tax evasion and secrecy meant banks felt they had to take extra measures to protect employees.

“Some banks have taken this precaution,” he said. “If today I go to Germany to visit two banks I deal with...German customs can take me in and question me.”
The travel bans, which have not been brought in by all banks, have focused on those visiting the US, following the detention there last year of a senior private banker from UBS, Switzerland’s biggest bank, as part of a federal tax investigation.
The head of the private bank, which itself has no travel restrictions, said: “Today if you are a banker from Switzerland going to the US you have to fear you will be taken in for questioning. I am thinking twice about going to America.”
However, four people in the private banking industry in Geneva told the Financial Times of banks bringing in total travel bans for staff, even for adjoining European countries.
“Private bankers aren’t even travelling to France. The partners are not leaving Geneva at all,” said a senior industry figure close to several private banks. No bank contacted by the Financial Times wanted to discuss the matter publicly.
The restrictions come ahead of next week’s Group of 20 summit where a clampdown on tax havens is set to be discussed.
Under pressure from other countries, Switzerland, which is estimated to account for about a third of the world’s $11,000bn in clandestine personal wealth, agreed this month to ease its bank secrecy laws and accept international standards on tax transparency.
From their discreet offices on a luxury goods shopping street overlooking Lac Leman, private bankers in Geneva reacted this week with a mixture of intense anger, at what they see as an unjustified attack by big countries, and concern about the threat to their business model.
“It is not really about bank secrecy; it is about solving an internal problem [for the big countries] by finding an enemy outside to bash,” said one senior banker.

Trades 3/25/9

Rank
4	USD/CHF	Buy	1.1847
3	GBP/JPY	Buy	145.22
2	AUD/USD	Buy	0.7066
1	AUD/JPY	Buy	70.16

EU president calls Obama's plans to spend his way out of recession 'the road to hell'

BRUSSELS (AP) -- The head of the European Union slammed President Barack Obama's plan to spend nearly $2 trillion to push the U.S. economy out of recession as "the road to hell" that EU governments must avoid.

The blunt comments by Czech Prime Minister Mirek Topolanek to the European Parliament on Wednesday highlighted simmering European differences with Washington ahead of a key summit next week on fixing the world economy.
It was the strongest pushback yet from a European leader as the 27-nation bloc bristles from U.S. criticism that it is not spending enough to stimulate demand.
Shocked by the outburst, other European politicians went into damage control mode, with some reproaching the Czech leader for his language and others reaffirming their good diplomatic ties with the United States. The leaders of EU's major nations -- France, Britain and Germany, among others -- largely ignored Topolanek and his remarks.
Obama pays his first official visit to Europe next week, aiming to thrash out reforms to the global financial system with the Group of 20 nations and call on NATO allies to commit more troops to the U.S. war in Afghanistan.
Europeans leaders hope the new U.S. administration will agree with them on tightening oversight over the global financial system -- which they see as crucial to fixing the global economy.
Instead, the United States is focusing its efforts on economic stimulus and plans to spend heavily to try and lift itself out of recession with a $787 billion plan of tax rebates, health and welfare benefits, as well as extra energy and infrastructure spending.
To encourage banks to lend again, the U.S. government will also pump $1 trillion into the financial system by buying up treasury bonds and mortgage securities in an effort to clear some of the "toxic assets" -- devalued and untradeable assets -- from banks' balance sheets.
Obama insisted Tuesday that his massive budget proposal will put the ailing U.S. economy back on its feet. "This budget is inseparable from this recovery," he said, "because it is what lays the foundation for a secure and lasting prosperity."
But Topolanek took aim at Washington's deficit spending.
"All of these steps, these combinations and permanency is the road to hell," Topolanek said. "We need to read the history books and the lessons of history and the biggest success of the (EU) is the refusal to go this way."
"Americans will need liquidity to finance all their measures and they will balance this with the sale of their bonds but this will undermine the liquidity of the global financial market," Topolanek said.
Topolanek spoke the day after he was ousted by his own parliament. The Czech Republic currently holds the six-month rotating EU presidency but its leadership is in question, with Topolanek hanging on to a caretaker government at home after losing a "no confidence" Tuesday.
In Washington, State Department spokesman Gordon Duguid said he did not expect the Czech poltical turmoil to affect Obama's upcoming trip to Prague because the president was traveling to attend an EU event.
Analyst Nicolas Veron, a research fellow at the Bruegel think tank, said Topolanek's view is not widely shared by EU leaders.
"I don't think the damage can be as large as the very strong wording of this would lead one to think," he said. "Many people have doubts about the U.S. plan but what he said is much stronger."
Veron said European leaders worry that the U.S. plan may not work or could cost taxpayers heavily -- but he did not doubt the U.S.' "fiscal robustness" or that it still had extra room to maneuver to stoke economic growth.
Martin Schulz, leader of the Socialist group in the European parliament, immediately chided Topolanek, saying his comments were "not the level on which the EU ought to be operating with the United States."
"You have not understood what the task of the EU presidency is," he told the Czech premier.
EU Commission President Jose Manuel Barroso also said it was "not helpful ... to try to suggest that Americans and Europeans are coming with very different approaches to the crisis."
"On the contrary, what we are seeing is increased convergence," he told the parliament.
But Europe's resistance to the U.S. call for new stimulus measures is starting to weaken despite Germany's fierce opposition to any new spending program this year.
French President Nicolas Sarkozy said Tuesday he is prepared to support the economy with a new spending package. EU officials say they can't rule anything out -- even an EU-wide stimulus that could help nations like Ireland and Spain, which can't afford any extra stimulus.
British Prime Minister Gordon Brown has also supported U.S. calls to ramp up fiscal stimulus -- government spending and tax cuts -- although the Bank of England has warned that Britain's swelling public deficit may make it unable to afford new spending.

No Posts Yesterday

I was Sick. Poor excuse, but true.

Trades 3/23

Use tight pips on all trades

Rank
4	EUR/USD	Buy	1.3761
3	EUR/JPY	Buy	134.22
5	GBP/USD	Buy	1.4747
2	AUD/USD	Buy	0.7111
1	AUD/JPY	Buy	69.82

Trades 3/22

Use short term trades from 3/19.

EUR/JPY has already passed

Long Term 3/19

Rank							Stop
1	EUR/USD	Buy				3/17/2009	1.3035
2	EUR/JPY	Buy				3/16/2009	124.43
5	USD/CHF			Sell	1.1142	NEW
6	GBP/JPY	Buy				2/23/2009	134.16
3	AUD/USD	Buy	0.6958			NEW
4	AUD/JPY	Buy				3/16/2009	63.03
7	CAD/JPY	Buy				EXIT	76.17

Short Term 3/19/9

Rank
1	EUR/USD	Buy	1.3763
3	EUR/JPY	Buy	130.47
2	USD/CHF			Sell	1.1142
5	GBP/USD	Buy	1.4645
4	AUD/USD	Buy	0.6958
6	AUD/JPY	Buy	65.82

Trades 3/17

Long Term Trades

New EUR/USD Trade can be used as a day trade.



Rank Stop
2 EUR/USD Buy 1.3095 NEW
1 EUR/JPY Buy 3/16/2009 123.47
3 USD/CHF Sell 2/10/2009 1.1683
USD/CAD Buy EXIT 1.2700
5 USD/JPY Buy 2/17/2009 92.50

4 GBP/JPY Sell 2/23/2009 136.73

6 AUD/JPY Buy 3/16/2009 62.64
7 CAD/JPY Buy 2/23/2009 76.17

trades 3/16/9

Rank
2	EUR/USD	Buy	1.3083
1	EUR/JPY	Buy	128.16
5	USD/JPY	Buy	98.84
4	GBP/JPY	Buy	140.17
3	AUD/JPY	Buy	65.61
6	CAD/JPY	Buy	78.09

Trades 3/15/2009

These are my long term trades. There are 2 new trades for today. These 2 trades could also be used as a quick daily trade.

Rank
4	EUR/JPY	Buy	127.80		NEW TRADE
3	USD/CHF	Buy				2/10/2009
5	USD/CAD	Buy				3/2/2009
1	USD/JPY	Buy				2/17/2009
	GBP/USD			Sell		3/2/2009
6	GBP/JPY	Buy				2/23/2009
2	AUD/JPY	Buy	65.21		NEW TRADE
7	CAD/JPY	Buy				2/23/2009

Trades 3/11/9

Not much going on. Not likely to hit.

Rank
1	GBP/USD			Sell	1.3651

Current Long Terms Positions

Current Long Term Positions

Rank
5	USD/CHF	Buy
2	USD/CAD	Buy
1	USD/JPY	Buy
3	GBP/USD			Sell
4	GBP/JPY	Buy
6	CAD/JPY	Buy

3/10/9

Rank
1	EUR/JPY	Buy	126.17
3	GBP/USD			Sell	1.3641
2	CAD/JPY	Buy	77.34

3/9/2009

Rank
1	EUR/JPY	Buy	125.91
3	USD/CAD	Buy	1.3084
2	GBP/USD			Sell	1.3692

3/8/9

Rank
1	USD/CAD	Buy	1.2933
2	GBP/USD			Sell	1.3933

Obama Economic Destruction

It's hard not to see the continued sell-off on Wall Street and the growing fear on Main Street as a product, at least in part, of the realization that our new president's policies are designed to radically re-engineer the market-based U.S. economy, not just mitigate the recession and financial crisis.
The illusion that Barack Obama will lead from the economic center has quickly come to an end. Instead of combining the best policies of past Democratic presidents -- John Kennedy on taxes, Bill Clinton on welfare reform and a balanced budget, for instance -- President Obama is returning to Jimmy Carter's higher taxes and Mr. Clinton's draconian defense drawdown.
Mr. Obama's $3.6 trillion budget blueprint, by his own admission, redefines the role of government in our economy and society. The budget more than doubles the national debt held by the public, adding more to the debt than all previous presidents -- from George Washington to George W. Bush -- combined. It reduces defense spending to a level not sustained since the dangerous days before World War II, while increasing nondefense spending (relative to GDP) to the highest level in U.S. history. And it would raise taxes to historically high levels (again, relative to GDP). And all of this before addressing the impending explosion in Social Security and Medicare costs.
To be fair, specific parts of the president's budget are admirable and deserve support: increased means-testing in agriculture and medical payments; permanent indexing of the alternative minimum tax and other tax reductions; recognizing the need for further financial rescue and likely losses thereon; and bringing spending into the budget that was previously in supplemental appropriations, such as funding for the wars in Iraq and Afghanistan.
The specific problems, however, far outweigh the positives. First are the quite optimistic forecasts, despite the higher taxes and government micromanagement that will harm the economy. The budget projects a much shallower recession and stronger recovery than private forecasters or the nonpartisan Congressional Budget Office are projecting. It implies a vast amount of additional spending and higher taxes, above and beyond even these record levels. For example, it calls for a down payment on universal health care, with the additional "resources" needed "TBD" (to be determined).
Mr. Obama has bravely said he will deal with the projected deficits in Medicare and Social Security. While reform of these programs is vital, the president has shown little interest in reining in the growth of real spending per beneficiary, and he has rejected increasing the retirement age. Instead, he's proposed additional taxes on earnings above the current payroll tax cap of $106,800 -- a bad policy that would raise marginal tax rates still further and barely dent the long-run deficit.
Increasing the top tax rates on earnings to 39.6% and on capital gains and dividends to 20% will reduce incentives for our most productive citizens and small businesses to work, save and invest -- with effective rates higher still because of restrictions on itemized deductions and raising the Social Security cap. As every economics student learns, high marginal rates distort economic decisions, the damage from which rises with the square of the rates (doubling the rates quadruples the harm). The president claims he is only hitting 2% of the population, but many more will at some point be in these brackets.
As for energy policy, the president's cap-and-trade plan for CO2 would ensnare a vast network of covered sources, opening up countless opportunities for political manipulation, bureaucracy, or worse. It would likely exacerbate volatility in energy prices, as permit prices soar in booms and collapse in busts. The European emissions trading system has been a dismal failure. A direct, transparent carbon tax would be far better.
Moreover, the president's energy proposals radically underestimate the time frame for bringing alternatives plausibly to scale. His own Energy Department estimates we will need a lot more oil and gas in the meantime, necessitating $11 trillion in capital investment to avoid permanently higher prices.
The president proposes a large defense drawdown to pay for exploding nondefense outlays -- similar to those of Presidents Carter and Clinton -- which were widely perceived by both Republicans and Democrats as having gone too far, leaving large holes in our military. We paid a high price for those mistakes and should not repeat them.
The president's proposed limitations on the value of itemized deductions for those in the top tax brackets would clobber itemized charitable contributions, half of which are by those at the top. This change effectively increases the cost to the donor by roughly 20% (to just over 72 cents from 60 cents per dollar donated). Estimates of the responsiveness of giving to after-tax prices range from a bit above to a little below proportionate, so reductions in giving will be large and permanent, even after the recession ends and the financial markets rebound.
A similar effect will exacerbate tax flight from states like California and New York, which rely on steeply progressive income taxes collecting a large fraction of revenue from a small fraction of their residents. This attack on decentralization permeates the budget -- e.g., killing the private fee-for-service Medicare option -- and will curtail the experimentation, innovation and competition that provide a road map to greater effectiveness.
The pervasive government subsidies and mandates -- in health, pharmaceuticals, energy and the like -- will do a poor job of picking winners and losers (ask the Japanese or Europeans) and will be difficult to unwind as recipients lobby for continuation and expansion. Expanding the scale and scope of government largess means that more and more of our best entrepreneurs, managers and workers will spend their time and talent chasing handouts subject to bureaucratic diktats, not the marketplace needs and wants of consumers.
Our competitors have lower corporate tax rates and tax only domestic earnings, yet the budget seeks to restrict deferral of taxes on overseas earnings, arguing it drives jobs overseas. But the academic research (most notably by Mihir Desai, C. Fritz Foley and James Hines Jr.) reveals the opposite: American firms' overseas investments strengthen their domestic operations and employee compensation.
New and expanded refundable tax credits would raise the fraction of taxpayers paying no income taxes to almost 50% from 38%. This is potentially the most pernicious feature of the president's budget, because it would cement a permanent voting majority with no stake in controlling the cost of general government.
From the poorly designed stimulus bill and vague new financial rescue plan, to the enormous expansion of government spending, taxes and debt somehow permanently strengthening economic growth, the assumptions underlying the president's economic program seem bereft of rigorous analysis and a careful reading of history.
Unfortunately, our history suggests new government programs, however noble the intent, more often wind up delivering less, more slowly, at far higher cost than projected, with potentially damaging unintended consequences. The most recent case, of course, was the government's meddling in the housing market to bring home ownership to low-income families, which became a prime cause of the current economic and financial disaster.
On the growth effects of a large expansion of government, the European social welfare states present a window on our potential future: standards of living permanently 30% lower than ours. Rounding off perceived rough edges of our economic system may well be called for, but a major, perhaps irreversible, step toward a European-style social welfare state with its concomitant long-run economic stagnation is not.
Mr. Boskin is a professor of economics at Stanford University and a senior fellow at the Hoover Institution. He chaired the Council of Economic Advisers under President George H.W. Bush.

3/4/2009

Rank
6	EUR/USD			Sell	1.2434
7	EUR/JPY			Sell	115.34
2	USD/CHF	Buy	1.1847
3	USD/CAD	Buy	1.2993
1	USD/JPY	Buy	99.69
4	GBP/USD			Sell	1.3932
5	GBP/JPY	Buy	140.98

3/3/2009

Rank
4	EUR/USD			Sell	1.2498
5	USD/CHF	Buy	1.1816
3	USD/CAD	Buy	1.2993
2	USD/JPY	Buy	98.77
1	GBP/USD			Sell	1.3932
7	GBP/JPY			Sell	135.41
6	AUD/USD			Sell	0.6270
8	AUD/JPY			Sell	60.81

3/2/9

Rank
8	EUR/USD			Sell	1.2516
5	USD/CHF	Buy	1.1803
3	USD/CAD	Buy	1.2956
4	USD/JPY	Buy	98.90
1	GBP/USD			Sell	1.3908
6	GBP/JPY			Sell	135.42
2	AUD/USD			Sell	0.6272
7	AUD/JPY			Sell	60.81

3/1/2009

Correction: USD/CAD 1.2852 was the real entry point. Trade is still a solid buy.

3/1/9

Rank
4	EUR/USD			Sell	1.2581
2	USD/CHF	Buy	1.1785
1	USD/CAD	Buy	1.2802
5	USD/JPY	Buy	98.81
3	GBP/USD	Buy	1.458025

2/26/9

Rank
3	EUR/JPY	Buy	126.23
1	USD/JPY	Buy	98.90
5	GBP/JPY	Buy	141.84
2	AUD/JPY	Buy	64.82
4	CAD/JPY	Buy	79.58

Obama Spreading Panic

It’s Obama spreading panic
By Dick Morris

Ultimately, all recessions and depressions resolve themselves into crises of confidence. The instant, global, 24/7 communications of today make them ever more so. President Obama, in his pursuit of liberal big-government spending, has totally neglected the role of the president of the United States in reversing global panic. To the contrary, his every remark and the constant preoccupation of his Cabinet is to heighten the sense of crisis and to escalate the predictions of doom if we do not do as they tell us and raise spending now and taxes later.Instead of being a firewall, reassuring Main Street even as Wall Street crashed, he has become a conduit of panic, spreading the mood of desperation from the stock exchange floor to kitchen tables across the world.
There are bad loans, which became bad assets, that lie at the root of the crisis. Through deregulation by the government and the greed of financial institutions, they spread to every portfolio in the world. But these basic facts have metastasized out of all proportion to their real harm into job and financial insecurity for every family on Earth. It is President Obama, not the markets themselves, who has spread this fear. A global Paul Revere, he has not only aroused us, but incited fear and trepidation in his wake.Previous panics have been global in impact, but local in focus. The world panicked because of developments in Mexico or Argentina or Thailand or South Korea. Now, with Collateralized Debt Obligations spreading the poison of a bunch of bad loans all over the world, infecting every portfolio, the panic is not only global in impact but in focus as well. Modern communications have hastened the spread of the virus of panic throughout the global bloodstream.In addressing this panic, the president of the United States must truly be the leader of the world — showing the way back to confidence.Instead, Obama has been instrumental in purveying fear and spreading doubt. It is his pronouncements, reinforced by the developments they kindle and catalyze, that are destroying good businesses, bankrupting responsible people and wiping out even conservative financial institutions. Every time he speaks, he sends the markets down and stocks crashing. He doesn’t seem to realize that the rest of the world takes its cue from him. He forgets that he stands at the epicenter of power, not on the fringes campaigning for office. This ain’t Iowa.Why does Obama preach gloom and doom? Because he is so anxious to cram through every last spending bill, tax increase on the so-called rich, new government regulation, and expansion of healthcare entitlement that he must preserve the atmosphere of crisis as a political necessity. Only by keeping us in a state of panic can he induce us to vote for trillion-dollar deficits and spending packages that send our national debt soaring.And then there is the matter of blame. The deeper the mess goes — and the further down his rhetoric drives it — the more imperative it becomes to lay off the blame on Bush. He must perpetually “discover” — to his shock — how deep the crisis that he inherited runs, stoking global fears in the process.So, having inherited a recession, his words are creating a depression. He entered office amid a disaster and he is transforming it into a catastrophe, all to pass every last bit of government spending and move us a bit further to the left before his political capital dwindles.But the jig will be up soon. The crash of the stock market in the days since he took power (indeed, from the moment he won the election) can increasingly be attributed to his own failure to lead us in the right direction, his failed policies in addressing the recession and his own spreading of panic and fear. The market collapse makes it evident that it is Obama who is the problem, where he should, instead, be the solution.Morris, a former adviser to Sen. Trent Lott (R-Miss.) and President Bill Clinton, is the author of Outrage. To get all of Dick Morris’s and Eileen McGann’s columns for free by e-mail, or to order a signed copy of their new best-selling book, Fleeced, go to dickmorris.com .

2/25/9

Rank
3	EUR/JPY	Buy	125.30
2	USD/JPY	Buy	98.16
4	GBP/JPY	Buy	141.93
5	AUD/USD	Buy	0.6571
1	AUD/JPY	Buy	63.96
6	CAD/JPY	Buy	78.43

2/24/9

Rank
4	EUR/USD	Buy	1.2903
3	EUR/JPY	Buy	124.92
9	USD/CHF			Sell	1.1514
8	USD/CAD			Sell	1.2380
1	GBP/USD	Buy	1.463
2	GBP/JPY	Buy	140.95
5	AUD/USD	Buy	0.6556
6	AUD/JPY	Buy	63.51
7	CAD/JPY	Buy	78.31

2/23/9

Rank
2	EUR/JPY	Buy	121.63
3	GBP/USD	Buy	1.4665
1	GBP/JPY	Buy	139.29
5	AUD/JPY	Buy	62.09
4	CAD/JPY	Buy	76.59

2/22/2009

Rank
3	EUR/JPY	Buy	120.11
2	GBP/USD	Buy	1.4532
1	GBP/JPY	Buy	135.46
4	AUD/USD	Buy	0.6512
6	AUD/JPY	Buy	61.03
5	CAD/JPY	Buy	75.39