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Chicago PMI Comes At Highest Since 1988, Surging Input Prices Blamed On "TOO MANY FRICKEN SPECULATORS" [sic]
Now it's getting plain silly: the Chicago PMI expanded for the 17th consecutive month, grateful for the US policy of total and utter dollar annihilation, printing at 71.2, higher than expectations of 67.5 and the prior print of 68.8. This is the highest since July 1988. And confirming just how credible the data is, the New Order index came at the highest level since 1983. No surprise that inventories surged from 54.5 to 60.2: gotta keep the myth alive. And while priced paid remained near cycle highs, the employment index, in as much anyone cares, dropped from 64.1 to 59.8. But the funniest thing in the PMI was the following response from a survey panel member (all of whom are lamenting the surge in prices): "Seeing turn around in a few areas TOO MANY FRICKEN SPECULATORS in market causing higher price plus weaker dollar and China. Other then that well go figure." Somehow we fail to see how this response mashes with the broader optimistic response.
Full hilarious survey panel response (see response 10 about ROCK STAR hiring):
1. Costs continue to escalate. Tight inventories still slowing down supplier response and stretching out lead-times. Sales are robust causing challenging inventory balancing act when combined with the aforementioned lead-time issue. Do more with less policies more prevalent which, for now, positively impacts the bottom line. However, the resulting burnout and multitasking are starting to take their toll on quality of work and respective yields.
2. Business continues very strong. Hopefully the steel companies won't price themselves out of the recovery
3. Steel prices are increasing weekly.
4. Inflation varies according to independent commodities--e.g., energy or cotton--individually influenced by fluctuating geopolitical or natural-disaster pressures in 2009 and 2010. Such individual commodities are not seen as an indication of averaged or overall general economic health.
5. Our larger volume items are protected by long-term blankets but on other items, suppliers are presenting fabrication price increases anywhere from 3-5%. A number of suppliers use surcharges to accommodate rising prices in fuel, energy and metal prices.
6. Price increase requests continue. Recent announcement that Whirlpool, Kraft, and Victoria's Secret will raise consumer pricing due to the cotton, metals and food markets operating at historically high levels. Unemployment remains a strong concern for macro-economic outlook and local government. Ultimately, the turbulence continues...please keep your seat belts fastened.
7. My vendors have created such low inventory that now that business is picking up they cannot meet my demand. Lead times have been very long and unpredictable.
8. 1. Raw materials and Resins for Injection Molding unstable. 2. Lead times have been extended in our system to assure delivery considering component shortages.
9. We continue to lend although there remains a lot of economic stress within the small to mid size local business community.
10. Hiring is now above pre-layoff levels Hiring is targeted to Rock Stars who make MUCH MUCH more than previously eliminated managers Sales remain unchanged, Cost increases are due to salary increases for new Rock Stars and HR consulting fees for helping to hire new Rock Stars. Cool Aid for everyone
11. Seeing turn around in a few areas TOO MANY FRICKEN SPECULATORS in market causing higher price plus weaker dollar and China. Other then that well go figure
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And I thought it was snow ;)
They shoveled a lot of snow in Chicago.
It's the Volcanoes in Kamchatka ;) causing global cooling, so I was right snow!
http://www.iceagenow.com/Volcanic_eruptions_driving_prices_higher.htm
They've been shoveling mountains of something in Chicago, but it isn't snow.
They shovel a lot of shit in chicago.
Sorry "survey panel member", Goldman has to get their vig! I mean, you can't call them parasites for nothing!! And Ben needs his "inflation".....
....where is your patriotism?
sellers are not speculators, right? only buyers can ush the price up, they don't buy from anyone...it's magic.
frikken hilarious. even the FX traders dont buy it for a second. the USD continues to get pummeled even as the US economy "SURGES". but, it's a MF Monday and the sheeple have been plowing all their savings back into equities. see, "they" will win again.
I didn't even know that it was possible to invest in 'fricken.' It must be used in everything, since just about all prices are increasing. I hope ignorance is curable in my case... ;-)
I'm long fricken frickens!
My opinion of purchasing managers has been reduced even further.
In article 10, Kool-Aid is spelled 'Cool Aid'.
These dumbasses don't even know what shit they're smoking.
Yeah, great comment. You don't smoke Kool Aid, dumb ass, you snort it...DUH!
;)
Once again, today is another example of how you must follow the tape, not the news...
The blind follow the blind, until they hit traffic, then they are roadkill.
I hope you like the taste of chrome!
With each passing month they use shinier lures, but the fish still aren't biting. Profits aren't real unless you find a bag holder to pay for them.
BS Bernanke's President's Working Group on Financial Markets is killing it today! He and Geithner are going to have this SOB recover come hell or no dollar.
Hiring rock stars huh? Did they hire the entire band Great White for promotions?
These diffusion indices are nothing more than derivatives on fed's balance sheet expansion.
Wonder how much demand is being pulled forward as a result of people across every industry on earth chasing input costs higher?
Probably none.
Crude
Looking rather toppy.
http://www.zerohedge.com/forum/99er-charts-0
Isn't the proper crude Brent? Not WTI.
Most folks follow the WTI....particularly if you live in the United States...
Charlie Bravo
I will tell you what, silver ain't moving on speculation alone.
Just in from Vietnam: Go Long Fricken Dong
Fricken? Maybe he meant "too many Al Franken speculators"?
Anyway, one of my pet peeves is the ubiquitous substitution of "then" for "than." When I see that, I think this generation is a product of the Evelyn Woodhed Sped Redding Coarse.
My favorite is the complete revision of pronunciation for the words "a" and "the" in oral language. I noticed Dubya going with the unvarying long vowel "a" and "the" when stumbling through his teleprompter text back in 2000 and the next thing I knew everybody was aping him. They have since become staple articles of neo-pretension.
If you use the correct forms, which used to distinquish you from dislexic retards, now it casts you as a dinosaur.
It's dyslexic, dumbass - guess you have a stupid spellchecker ? Or perhaps it is just age.
Scary, now they are going to blame the rock stars (aka best producers). This really is atlas shrugged.
I start to think the DJIA reflects the public gullibility expectation, rather than the economic performance expectation of 30 companies.
TOO MANY FRICKEN SPECULATORS in market causing higher price
...So it begins...
Speculators again become the FED's scapegoat.
+1 and plus another for using Fed and goat sacrifice in the same sentence.
Shit I bought an "Extra" 100lbs of rice this weekend - do you think they might come after me?
Silver must have just passed it's stress test...
Haha, I was disappointed when I woke up to find silver at the same price it was when I went to bed.
Now, not so much.
The evil of speculation in markets rears its head once more.
#5 & 6 are great money quotes as well
It will be revised later similar to the pending home sales index (December number revised from +2% to -3.2%)
Using the Laszlo Birinyi ruler extrapolation method when the dollar index hits 1 the Chicago PMI will be 1000.
LOL>
http://www.zerohedge.com/article/laszlo-birinyis-september-4-2013-sp-tar...
Can anyone confirm whether or not this is the first time the words "Rock stars", "Cool Aid", "FRICKEN" were included in a federal reserve survey of the economy?
[Accurately, for once] Blame it on the snow, correct?
They must have surveyed Charlie Sheen.
See what happens when they let Timmay write a survey
Well, offer me a couple % real return in my passbook savings account and I won't speculate. Problem solved.
Rick Santelli is a legend and co-founder of the Tea Party.
Chicago is a great city with a fabulous new mayor.
Inflation is out of control!
#2 is a joke right?
He meant faaabulous mayor.
Conclusion: blame helicopter Ben
Dreary Dr. Coal has sneezed:
http://www.infomine.com/chartsanddata/chartbuilder.aspx?z=f&g=127663&dr=1y
Is he giving us the finger, or is that a H&S I see? Does anyone remember Q3 '08?
Coal powers over 50% of U.S. electrical production, in China it's over 77%, Germany 50%, Japan 27%.
outright political rhetoric which tells you no numbers here can be trusted...whoever takes over in 2012 needs to clear teh decks on all whom work in govt for being complicit in this ponzi scheme
Obama has a 75% chance of being your next president in 2012.
His approval numbers are reversing...
Fact is not fiction, folks.
As if it made the tiniest bit of difference (speaking of fiction).
Please someone tell me what are they using the steel for? New skyscrapers? Where?
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