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And don't forget to BTFD on this horrendous news
Bad news followed by bad news, followed by bad news. Eventually the carpet is going to yanked out from under this market.
no housing, no jobs and no manufacturing....it is bullish because it can't get any worse...wait this just in....
But the HFT can't read the news...
knockin on ma door, good lovin gone bad.....
Summer of recovery reporting for duty
Was their prediction based on an assumption that QE3 would have been announced and cemented by now?
Don't forget the housing sales drop of .08%.
Larry Yun still thinks it's a recovery.
""The recovery is very sluggish," said the group's senior economist, Lawrence Yun"
"Sales slipped 0.8 percent month over month to an annual rate of 5.05 million units from a downwardly revised 5.09 million in March, said the National Association of Realtors."
Trickle me down!
See Phyllys - Bitchez!!!
Oh well. Who needs manufacturing when you have services...
I will link myself into the Matrix and enjoy the ignorance. After all, a 980 P/E-Pisani stock is quite attractive.
yep, thought I might sell some of my gold and buy some of that...
Here It Comes.... RECESSION WARNING
apmex 2011 eagles: 111584
Only 905 tubes available of 2011.
but LNKD is doing so well, so everything must be good. please focus only on the good bits of data, ignore all bad data, ignore the games we are playing to avert breaching the debt ceiling and just assume governments will bail everyone out
Bake in that QE boys.
No number this time please, maybe call it "QE Gold" !
Michael McKee, Bloomberg's economist, said the Philly number was because of Japan. I guess people prefer excuses over facts; economist is just another way to say apologist.
But Japan was deemed 'GOOD NEWS" by all eCONomists.
Economists == Fortune Tellers (and not very good ones at that!)
The demand for mindless occupations is booming!
Should be interesting to see if the market rallies or not on this.
I think the market is realizing that the FED is in a tight corner - more QE is more pain at the pump. No QE is a market getting hammered.
if you want a conspiracy take on it, then go with adding QE and forgetting about the pain at the pump. What is the political risk? Sure, lots of Americans are going to suffer, but who will they vote for? Funny how Republicans are playing along and not putting any effort into 2012. Obama will have a free ride despite the suffering.
They all win again.
Obama may run unopposed since the Republicans are all bailing out, though maybe Newt can finally win when they "fix" the results from the non-traceable, easily-hacked touch-screens.
Flip the vote! After all, it really doesn't matter who is president since the world is run by Lords Blankenstein and Dimon Jamie.
Yes, it looks like a Mitt Romney/insert the stooge (Palin, Huckabee) ticket that has no chance to dethrone our foreign born King.
Of course, I'm not betting we even have an election in Nov 2012.
We need a black scapegoat - he fits the bill -
Perhaps the Republicans have realised that winning in 2012 would be a poison challace.
yeah, qe3 is a no brainer. and when the japanese print up a godzilla amount of yen. dollar goes up and we devalue again to raise equities. euro problems, same. this could go on for decades.
Or, only a few more hours.
For it to go on for decades, QE would have to maintain its effectiveness at least on some marginal level. I don't think nature really works that way (and I'm calling economics part of nature). Imbalances don't go on forever. The natural state of things is to reach an equilibrium state. I suspect long before we get to "decades" there will be a QE that will have no positive effect whatsoever, and then we'll get a QE that has a negative effect. That is when things will unravel and the world economy will return to a new equilibrium.
You're talking like QE had a positive effect in the first place...
I didn't say "positive", I said "effective". I think QE1, QE-lite, and QE-2 have been effective in keeping the ponzi going over the past two years.
Market took a little downward pressure on this, despite the LinkedIn IPO. Should last about 10 minutes before the options expiration pump resumes.
This is all very bullish. Timmah told me so.
I'm sure this was all due to bad weather.
This is huge! This is monumental! Already playing out in the markets. Caused the S&P to go negative for a whooping 10 minutes.
Nah, that was just a flash crash...
But if you look at a 3-month chart of SPY, the S&P 500 has basically gone nowhere over the past 3 months. It would appear that the current level of QE and POMO has lost its market-levitating powers.
guess it's time for zh's resident genius' to post something along the lines that although the philly fed index is plummeting t-shirt sales are booming.
Sick and tired of the word "unexpectedly" in the news.
There is no place left to turn for real economic growth. We have reached "capacity for growth" in real terms. The only thing we can chase debt with is new debt. The obvious solution from a top down economic model is top down debt distribution. Of course it does nothing for bottom up deflation but exacerbate it with top down inflation.
Data re. Existing Home Sales, Philly Fed and Leading Indicators was all much worse than expected. Expected reaction from this FUBAR market:
Stocks should surge on hopes for QE3...
100% Ponzi FUBAR
Back when Pittsburgh was a ragin' steel town, I can see why the PhillyFed was relevant.
Not being from that part of the country, but assuming there are still headquarters and something of economic importance to the report, can someone help me out to understand the modern relevance?
I was thinking steak sandwiches, but I'll accept cream cheese.
Greece 10 year bonds traded at 16% today, another record. EU bailout, QE3, even more Japanese future growth, what's not to like about the market?
Uh oh! While 'all is well, couldnt be better', the FED monster demands more feeding! Shovel in FRN's fast as you can now boyz!
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