The B(L)S NFP "Surprise" Is Now Dead And Burried
Remember the jovial market response after the B(L)S came out with the 10% unemployment number courtesy of all able-bodied unemployed migrating to work in Tijuana? No? Neither does the market. The 10 Year is now back to pre NFP levels. It would appear the government's "data scrubbing" interventionism now has a half-life of at best 3 business days.
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on Tue, 12/08/2009 - 11:24
#156581
Here's tonight's top ten list let's go.
Thank you so much Paul, here to present tonight's top ten list please welcome Chicago's very own Anonymous Monetarist ladies and gentlemen.
Can I call you Money?
Sure Dave.
Quick question, will the market go up or down?
Yes Dave.
OK Money, why is he out here Paul?
Top ten, he's reading the top ten, what is the topic?
Pardon me Money, category.. top ten reasons why this ends in tears or (hopefully not)fireworks ... sounds like my personal life. OK here we go ... Number 10.
Nancy Capitalists in a Sovereign Democracy that are Hell Bent to Seek Rent.
How about that? Number 9.
Although we walk through the Valley of Debt we fear 'No Easing'.
Now there's a reason...Number 8.
Socialized Guts will lead to diminished glories.
OK ... Number 7.
Failure to liquidate the insolvent banksters has led to the liquidation of a large part of the productive economy.A taxpayer financed bailout of rich folks' bad speculative bets has resulted in zombie banks and zombie customers... a fiscal tide that lifts no boats.
Uh-huh ... Number 6.
The cold hard fact of our age is that the bankrupt ideology of the rich that had greatly succeeded in drafting the inner monologue of regular folks so that they would vote against their self-interests is colliding head-on with a Mr. Market that is a bit pissed off that we've inflated it out of the business cycle for the last quarter century.
Whoa... let me guess Money you don't get invited out much do you?
Only if I bring the liquor Dave.
Heh heh OK that makes sense ... Number 5.
Mr. Hand's strong dollar policy is the chimera of currency debasement masquerading as America's wealth exporting machine that is regularly promulgated by our leaders as an exceptional example of America's resiliency.
Whew... you must have to bring top shelf. Did that make sense to you Paul?
It's heavy man, heavy...
Number 4.
Yes Virginia, there is no collateral.
Number 3.
Leno is on at 9.
What! What! How did that one get in there? OK Number 2.
Employment, inflation, productivity, GDP, and other sundry stats are massaged into irrelevance ... the markets are rigged.
Rigged? What does that mean Money?
The government is 'all in' and can't pull out.
Whoa! Good thing this is late night Paul.
And the number one reason why this ends in tears or (hopefully not)in fireworks?
After World War 2, our blessed leaders, impressed by German 'organizational' skills crafted a policy of manufacture of consent.Over time these techniques moved to the economic realm in an attempt to manufacture content.Federales now risk the manufacture of contempt, for it is only a Great Depression if they say it is.
Anonymous Monetarist ladies and gentleman!
on Tue, 12/08/2009 - 12:06
#156621
yes
on Tue, 12/08/2009 - 12:55
#156670
Wow, did you (AM) write this? Very nice work if you did.
on Tue, 12/08/2009 - 13:03
#156682
I stand accused of the things I've said.
All original unless noted otherwise.
Thanks.
on Tue, 12/08/2009 - 16:30
#157013
Encore!
on Tue, 12/08/2009 - 17:46
#157126
Very nice. I could atually hear Paul and Dave in my head while reading that. The voice of AM was played by Droopy Dawg.
on Tue, 12/08/2009 - 19:33
#157302
Really don't sound like Joe Lieberman.
on Tue, 12/08/2009 - 11:37
#156597
nice
on Tue, 12/08/2009 - 11:40
#156600
"It would appear the government's "data scrubbing" interventionism now has a half-life of at best 3 business days."
Like a really bad dream, one where you're being chased and while running as fast as you can you're going nowhere fast, soon enough the lies will have no effect and will simply be holding the market in place.
The next step after that won't be pretty.
on Tue, 12/08/2009 - 12:49
#156659
Apparently the next step is to "spend our way out of it".
Using OPM, of course.
on Tue, 12/08/2009 - 15:28
#156911
The total insanity of "spending your way out of it" is amazing unless we enter the land of "OZ" and recognize that they aren't talking about spending savings or "cash" but rather credit.
I have to shake my head and pinch my arm sometimes to make sure I'm awake.
on Tue, 12/08/2009 - 11:45
#156606
Yeh o.k. but how do we know that this is actually real buying activities,and not actually done by the fed?Everytime the 10y yield goes up to close to 3.5,it misteriously manages to come down quickly,I mean common it is not like people are lined up at the banx doors waiting for that great asset class to just go down a little bit to jump in and buyWhile I can believe that about gold). This has happend so many times since May to the point where it never managed to exceed 3.5(as opposed to before May or Jun can't remeber the exact date)to the point where it becomes suspecious. Markets don't have such accuracy in prices,only manipulation creats such accuracy........
on Tue, 12/08/2009 - 11:46
#156607
Why do you hope things get worse?
on Tue, 12/08/2009 - 12:12
#156625
Why do you impute emotions to people beyond what their statements indicate?
on Tue, 12/08/2009 - 12:40
#156649
The sooner everyone realizes that things *ARE* worse, the sooner everyone starts demanding real answers to our very real problems.
on Tue, 12/08/2009 - 11:52
#156611
Does anyone else see a major problem with this?
http://www.treasurydirect.gov/instit/annceresult/press/preanre/2009/R_20091208_1.pdf
Term: 4-Week
High Rate: 0.000%
Investment Rate*: 0.000%
Price: $100.000000
Allotted at High: 35.09%
Total Tendered**: $157,012,362
Total Accepted**: $31,422,062
Issue Date: 12/10/2009
Maturity Date: 01/07/2010
CUSIP: 912795R78
on Tue, 12/08/2009 - 11:56
#156614
Yes I do have a problem with the Fed Reserve buying Treasuries...but Uncle Ben will not return my phone calls, and I'm the wrong part of the country to wait outside his door to catch him on the way to raping America...errr...I mean work.
on Tue, 12/08/2009 - 11:54
#156613
Well now that those phony numbers have worn off, what is next on deck in the wave of lies?
on Tue, 12/08/2009 - 12:11
#156624
More one-time "stimulis" measures - this time to do what the first "stimulus" was sold to do, as in, "solve unemployment" - courtesy of Barry O and the BBPrinting.gov company.
So it's all good. Problem solved. Time to go back to spending money we don't have on crapola we don't need. Still waiting on my backordered unicorn, though.
on Tue, 12/08/2009 - 12:14
#156626
Does anybody have an opinion on the trend in initial jobless claims?
on Tue, 12/08/2009 - 12:19
#156630
Also - Globally speaking - does anyone have a good suggestion on what market outside the U.S. that represents a better capitalistic dynamic?
Should I be considering Japan or Europe?
on Tue, 12/08/2009 - 12:21
#156632
Low Bond yields the Canary in the Mine.
on Tue, 12/08/2009 - 12:36
#156646
The 10 year spike seemed to me to be an inconvenient result for the Fed. This has now been fixed (pun intended). I believe the main targets were to strengthen the USD and hit gold between the eyes. The real trick was to hold the equity market steady and set up the next play of Treasury auctions for this week. USD and gold speculators have been warned.
on Tue, 12/08/2009 - 13:03
#156683
Agree...game ends when Fed loses control of the POG.
As long as they can hammer it down and get the signals showing deflation, they have cover for a global print via FX swaps.
Really, I think Dubai is a bigger deal than the MSM gave it credit for and there is a dollar debt redemption going on somewhere probably in non-swap land. The mystery is why the SP500 has not reacted as commodities have, but perhaps Fed has bought the market.
TPTB can live right now with a gold and oil crash, but not another SP crash as there are too many itchy sell fingers
on Tue, 12/08/2009 - 12:53
#156665
Just a warm fuzzy speech, nothing more. The country was carried away by the same speech, and thought things will be different. It will not, and it will never be. he is a talented celebrity with entertaining value.
on Tue, 12/08/2009 - 13:05
#156687
If we go back to how this ralley started(unfortunately I had a change of heart and sides just in the wrong time,ethics always a winner with me),it was through the C excahange offer of their preffered,which lured some stupid money managers into shorting c ,and eventually short squeeze them and the whole market(how can they fall for such tricks is beyond me). Since then,every time the market stalls,there is new trick for shorters,and we continue up. So my question for the more knowledgables than me:what is that chatter about the recent goverment not selling c untill they pay their TARP?is there new trick in that scenario since I see C is continually decliningg(yes the whole Dubai fiasco)but is that the reason,or the rise in short interest behind the decline?if it is the latter,then we might expect another record breaking profit by C,despite all the calamities?!!
on Tue, 12/08/2009 - 13:30
#156722
"USD and gold speculators have been warned."
Agree with you. Gold is a major problem for Timmay and Ben. It will be manipulated down.
on Tue, 12/08/2009 - 13:44
#156750
I believe JP sold a little more than 1000 contract last week at one of the market highs(may be Wed). SO that is were the money is going,this week tbs auctions of tbs.And how many auctions of that type are we going to have with all the tax revenue decline?
on Tue, 12/08/2009 - 15:23
#156903
Tyler,
Hi, hope you are well, who ever you are;
I need your help in understanding something.
It has to do with TARP ending, and what to do with the remaining "stuff" (money). I heard on the radio this morning, that the government wants to take some of the remaining TARP balance (unspent I would imagine) and use it to pay down the US budget deficit. Well, my mind issued an immediate "TILT" response. Just to make sure that this was not alcohol induced, I had a few questions:
So the first question is;
Does paying down the deficit in this context, mean that there is a general misunderstanding of government accounting and money creation?
Next;
What is the real fallacy in the assertion that because you are paying for a debt not incurred, you are increasing revenues? So was the thinking in Washington that since we have allocated this money, it just naturally should all be spent? Do the legislators understand our fiscal peril?
----------
Is it that, money appropriated is not earned, when you have to issue debt to pay for it.
Thanks,
Mark Beck
on Tue, 12/08/2009 - 16:10
#156992
Look, I have stated this ad nauseam for years now. These statistics are designed to further the agenda. They needed a blow out number to hammer gold and silver. That was the whole point. Has anything changed in the world as a result of thid BS number? Yes, gold is $100 lower, nuff said.