Another Economic Disappointment: Initial Claims At 422K On Expectations Of 417K

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Thu, 06/02/2011 - 08:44 | 1331840 djsmps
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The Marketwatch headline this morning:

Dow 20,000, here we come
A day after the Dow saw its worst single-day point drop since June 2010, James Altucher makes the
case that it's not surprising that the market needs a day or two before blasting off to ... Dow 20,000.

Thu, 06/02/2011 - 08:42 | 1331847 Herne the Hunter
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I'm waiting for Dow 10^20000

Thu, 06/02/2011 - 08:45 | 1331861 HelluvaEngineer
HelluvaEngineer's picture

Hmmm...that might require QE3.5

Thu, 06/02/2011 - 08:48 | 1331875 Herne the Hunter
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And a HAARP gun to spread benjamins across the atmosphere

Thu, 06/02/2011 - 08:59 | 1331907 SheepDog-One
SheepDog-One's picture

DOW 500,000,000!!! I guess its possible with the way the Wall St criminal cabal is printing and pumping these bubble markets!

Thu, 06/02/2011 - 09:34 | 1332015 mattwett12
mattwett12's picture

Well if you look at a long enough trend and draw a line, there is no reason the DOW couldn't hit that amount right?

Thu, 06/02/2011 - 08:47 | 1331857 oh_bama
oh_bama's picture

Just as Zerohedge,BY DESIGN, needs to mention this upward REVISION TWICE A WEEK as if no one knows about it, CLOWNS at marektwatch are PAID to PUMP STOCKS ALL THE F**KING TIME

Thu, 06/02/2011 - 09:23 | 1331970 ZakuKommander
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Actually, mentioning the upward revision twice a week has become a ritualistic continuing joke among buds, a bond among sister and brother ZHers, something that never fails to evoke a good natured snicker . . .

Thu, 06/02/2011 - 08:47 | 1331871 mayhem_korner
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Which can be arrived at in one of two ways...

a) DXY at 40

b) P/E ratios to 250 (pandemic of investors on hashish)

Thu, 06/02/2011 - 08:47 | 1331872 Herne the Hunter
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He sees Dow 20k within 12 to 18 months... citing iPad sales as a harbinger of "innovation"... 


Thu, 06/02/2011 - 08:52 | 1331877 bonddude
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Then he must also see the dollar not being fit to wipe my ass with.

Thu, 06/02/2011 - 08:57 | 1331889 Dr. No
Dr. No's picture

I mean why not?  The FED is not the monoploy holder of trying to pump stocks.  A head line like that might keep some sheeple from selling for a day or two, giving valuable time for the HFT to reset their counters. 

Thu, 06/02/2011 - 09:21 | 1331896 g
g's picture

I read that article this morning and was wondering if it was going to be discussed here at ZH. MSM cheerleading in the extreme.

Thu, 06/02/2011 - 09:00 | 1331899 Platinum_Investor
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It may be Dow 20,000 in 5 years but it will also be 10% inflation that goes along with it.

Thu, 06/02/2011 - 09:04 | 1331920 Dr. No
Dr. No's picture

Hey, 20,000 is 20,000.  I need to know when so I can get those hats made by the "idigenous people of whereever....."

Thu, 06/02/2011 - 09:08 | 1331940 DaddyO
DaddyO's picture


I'll stick to my tin foil hat...just sayin


Thu, 06/02/2011 - 09:22 | 1331974 augie
augie's picture

I believe you are confusing hats with "the glass dishes with tiny bubbles and imperfections."

palahniuk must not be misqouted.

Thu, 06/02/2011 - 09:39 | 1332020 Dr. No
Dr. No's picture

Glass dishes, DOW 20000 hats, all part of a portfolio for "versatile solutions for modern life". 

Do you know what a duvet is?

Thu, 06/02/2011 - 09:46 | 1332051 augie
augie's picture

Yeah i drink from one every morning. Really helps me wake up in the morning.

Thu, 06/02/2011 - 08:41 | 1331841 the not so migh...
the not so mighty maximiza's picture

QEIII coming soon.

Thu, 06/02/2011 - 08:41 | 1331843 Cassandra Syndrome
Cassandra Syndrome's picture

How big will QE3 be?

Thu, 06/02/2011 - 08:42 | 1331849 the not so migh...
the not so mighty maximiza's picture

Big and I am thinking real big.  Larger then previous QE's put together.

Thu, 06/02/2011 - 08:46 | 1331866 HelluvaEngineer
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Easy.  Just square the last QE.  Repeat until dollar goes to zero.

Thu, 06/02/2011 - 09:28 | 1331980 Saxxon
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I wonder if the Administration will simply give money away a-la George W. Bush.  Write everyone a check.

Thu, 06/02/2011 - 09:31 | 1332002 SheepDog-One
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What money?

Thu, 06/02/2011 - 10:13 | 1332129 Silver Dreamer
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It's all debt of course, and we'll have far more of it before this party is over.  Why not hand out 10K to everyone with a SSN.

Thu, 06/02/2011 - 09:04 | 1331919 tmosley
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Not large enough.  Maybe larger.

Thu, 06/02/2011 - 09:14 | 1331961 Temporalist
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What, did you call Paul Krugman this morning for advice on posting about QE3?

Thu, 06/02/2011 - 09:24 | 1331973 tmosley
tmosley's picture

Exactly.  I loved the odd phrasing, how something can be both larger than not enough, and remain not large enough.

It's the most awesome doublethink of all time.

Thu, 06/02/2011 - 09:02 | 1331926 breezer1
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$200 bil per mo deficit + reduced tax revenue . look for major distraction before winter.

Thu, 06/02/2011 - 08:42 | 1331848 mayhem_korner
mayhem_korner's picture

But they "fell" less than expected...

What's the frontrunning expectations for how much the DJIA will fall this month?  600

Thu, 06/02/2011 - 08:46 | 1331850 Clueless Economist
Clueless Economist's picture

This is most curious.  My Keynesian solutions should be creating or saving jobs, not losing them.  I believe it is time to double down on shovel-ready job solutions (ie let us spend Trillions more)

Thu, 06/02/2011 - 08:44 | 1331858 the not so migh...
the not so mighty maximiza's picture

Triple or quadrouple down I think.  It just hasnt been big enough ,,right?

Thu, 06/02/2011 - 10:17 | 1332141 MachoMan
MachoMan's picture

You joke, but if people are willing to trade us real things for paper, I think we need to exploit it to its fullest extent, at this juncture, for the common good (hint: not to expand the wealth gap).  We're broke either way...  might as well get infrastructure built and in place should we ever decide to take life by the horns and hump it into submission, rather than just waiting around for the check in the mail.

Thu, 06/02/2011 - 08:54 | 1331883 mayhem_korner
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Edit: "Keynesian solutions" is a contradiction in terms.


Fri, 06/03/2011 - 00:19 | 1334855 StychoKiller
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contradiction in terms = Oxymoron

Thu, 06/02/2011 - 09:02 | 1331906 Dr. No
Dr. No's picture

Do you think there is "slack" in the system and therefore need more time for the stimulus to get "traction"?  I find it hard to believe government directed spending, coupled with price controls on money, would not result in efficient distribution of capital.

Thu, 06/02/2011 - 09:07 | 1331909 g
g's picture

Hey using spoons instead of shovels should be better for the economy 



Thu, 06/02/2011 - 08:47 | 1331856 Esso
Esso's picture

Depression? The CNBSers said things have never been better.

Thu, 06/02/2011 - 08:45 | 1331862 Tense INDIAN
Thu, 06/02/2011 - 08:45 | 1331864 ziggy59
ziggy59's picture

this is one helluva Goldilocks Economic Controlled Demolition is..

Thu, 06/02/2011 - 09:07 | 1331939 hedgeless_horseman
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Controlled demolition?  Yes.  Why?  This:
“What people need to hear loud and clear is that we're running out of energy in America.”                                        —George W. Bush, May 2001
Thu, 06/02/2011 - 09:26 | 1331951 hedgeless_horseman
hedgeless_horseman's picture
06-02 08:47: Saudi oil minister says Saudi Arabia always ready to meet oil demand
06-02 08:52: Saudi oil minister says Saudi Arabia always ready to crush democracy and basic civil rights
06-02 08:59: Saudi oil minister says Saudi Arabia always ready to exchange its nation's only natural resource to benefit a few royals with US dollars and US military backing

Thu, 06/02/2011 - 09:27 | 1331991 augie
augie's picture

Can someone please tell me (if you've seen this already) if this guy is credible?


I watched this video a few years ago and whenever i refer to him, people always tell me he's inaccurate. I trust the opinion of ZH'ers a considerable amount more than the imbeciles i interact with, so i would appreciate anyone's time in setting me straight here.

Thu, 06/02/2011 - 09:49 | 1332061 JPL
JPL's picture

I watched episode 1. It is just mathematics. All true. But think about assumptions. That is the point.

Thu, 06/02/2011 - 09:57 | 1332089 augie
augie's picture

Exactly, thats what i am confused about, are his assumptions about discovery, production, and consumption rates accurate? Pretty terrifying if they are.

Thu, 06/02/2011 - 08:50 | 1331869 FunkyMonkeyBoy
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So, er, a sane person would ask:

QE1, QE2, QE Lite, etc didn't create jobs...

... so, QE3 will? QE3 is the solution to creating jobs right? Quantitive easing has proven to create jobs, right?

"Insanity: doing the same thing over and over again and expecting different results"

Thu, 06/02/2011 - 08:47 | 1331873 the not so migh...
the not so mighty maximiza's picture

We are not dealing with sane people FunkyMonkeyBoy

Thu, 06/02/2011 - 08:51 | 1331881 JohnG
JohnG's picture

Worse than that.  Sociopaths.

Thu, 06/02/2011 - 08:51 | 1331884 FunkyMonkeyBoy
FunkyMonkeyBoy's picture

No, but we are in charge of deciding if we allow these genocidal maniacs to make these decisions.

Remind me, why are americans allowed to bare arms again? Self-defense against tyranny/oppression qualify?

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