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I love how economists can miss these numbers over and over and over and no one seems to care. Who's worse, economists or ratings agencies? Oh wait, they are both on the same payroll. Got it.
Out of 55 estimates on bloomberg, no one got it right, and only 2 people underestimated the number. Weirdly, one of them was LaVorgna from DB.
No one said propaganda is necessarily correct.
The Ministry of Disinformation in this country is working overtime. I believe nothing, only that I'm paying more for essentials, working harder, and have less disposable income at the end of the month.
I'm just revelling in the ferver of a fine economic recovery...
Mr. Market's response ?
"What, me worry ?"
and over and over and over and over and over . . . etc., etc., etc,. . . . .
You figure if anyone else messed up their job this much theyd be fired.
Oh well, market don't care, just keeps rallying, cant let a sour economy run a happy day over Greeks getting more bailout money.
Bizarro world indeed.
Im a paramedic and if I was this wrong people would die..and I probably make a quarter of what these douche bags do....go figure.
Well, there's your problem: A dead body is an objective fact.
But who's to say that an economist is wrong generally about "the economy" "improving" or "bottoming".
If you changed careers and instead advised people on how to "live better", they would find it substantially harder to prove you aren't doing a good job!
Hmmm..Dead bodies means less people looking for jobs..less people defaulting on mortgages and less medicare!! Im not a medic Im a Green shoot gardner!!
but it's my guess that if you were dead you would probably default...
TYLER--could you re-do the graph you posted last week with the ISM showing the doble dip, and add today's information?
Would be interested to see.
Nov 2009 was last time we printed below 56 on this.
We are in a world of trouble and pain now.
Time to jump out the window.
Franken, it just makes me laugh people think that a bit more money printing sleight of hand can carry us forward glitch free another 16 months to some mythical 'election' goal? Total nonsense to me, like saying if only another gallon of fuel is added to the 747 tank we can glide from San Fran to India.
well, if you are a joo the Hanukkah oil lasted for 7 nights when it was only suppose to last for one. Christians and muslims have their own stories inspiring hope when all looks grim. People have been believing lies for thousands of years, thats not a slight towards god, thats a full-wind-up backhand to religion.
Economics has become a religion. Its no longer accountable to fact or reality. It's just what allows people to have enough piece of mind/purpose to punch a clock and remain comfortably subservient so as to avoid the terror inspiring concept that we are all intrinsically good and not what our culture tells us we are.
Have you heard of the new P2P digital money called Bitcoins ?
The money is "calculated" with a distributed algorithm on private computers in a decentralized "crowd computing" fashion, with the more participating computers, the more secure and acceptable the money becomes.
Every contributor of CPU clocks / instructions to calculate so-called "blocks" which make up the newly created Bitcoins is rewarded with previously generated Bitcoins.
Every Bitcoin is an encrypted and digitally signed piece of data bytes that store its history
, date of creation, number and ID of network computers it was previously stored on and so on.
No central authority, no bank, no fees involved.
The only way to stop it is to switch off the Internet.
Bitcoins works in a way like Napster or EDonkey and was invented in 2009 by the Japanese hacker Nakamoto.
This is like our money in our digital bank accounts except there's probably more honor among hackers than their is in central bankers.
Except when the most industrious hackers are actually de facto government workers...
Collapse confirmation has to be highly bullish, or something. Think I'll polish my silver and gold today.
Wow, biggest money printing bonanza in a generation and the SPY is less than 1% from 3-yr. highs and many gold stocks are red today. And to boot the 5-yr. yield is still under 1.75% as many investors still fear a new recession and could care less about stocks.
Any investor with 2 brain cells to rub together is bailing from this trainwreck. Better bail now, at any moment bids will not be hit soon as the 401K Bathrobe Brigades get nervous and place their large sell orders. The trick is to smell the smoke and get out before youre engulfed in flames.
This is smelling like a massive retail setup more and more. It is really odd to watch yields fall and stocks go up.
Why don't you change your name to Idiot Consensus?
Robo...I highly recommend you go read FOFOA...it might help you understand.
Send me a gmail R and I will direct you to my blog, I write about gold, TEOTWAWKI and "The Tinfoil Brigade". Other topics too. Great fun.
I am yearning for Goldmans take on this..... spin this muthafuckers
And gold within 2% of its alltime high
Nominal highs. Still have a long way to go to get back to 2000.
+/- 40% inflation since 2000.
Watch where you aim that thing!!!
I only aim at the bullshit, so you are pretty safe.
BUT...BUT...BUT...GREECE DAMIT..Greece is what we are celebrating....come one..we need one happy day for Greece....
Osama Obama is sweating the 2012 election.
16 months....like gliding a 747 on a gallon of gas halfway around the world. Cant be done.
Have you looked at the field of challengers? Obama walks right back into office as if there's nothing wrong.
They're setting Huntsman up for a 2012 win.
Why setup Huntsman when Obama has provided an excellent ROI? Obama is a lock in 2012.
Just look at that Roach Motel [SPY]. Wholesale liquidation of positions...MASSIVE...and yet the instrument barely moves. If ever there was proof that the market is broken, the Roach Motel is the tell.
In the meantime, superdee duper bullish criminal syndicate Wall Street algorithmic bulls have been selling into the fabricated up open. Six second long equity hold period complete.
Confidence inspiring! Thanks again, Ben.
that confirms it: Rally is on. (with news like this...how could it not be?)
Once upon a time, this sort of news mattered to investors, now it is only machines that can't read, it doesn't
Huge breakaway gap in FXI after Shanghai has been sold down hard the last two weeks is a big heads up for the bears.
Traders are now becoming even more emboldened to start buying each and every dip from here on out.
Momo, you are still the perfect fade. No comment on the 'huge upcoming economic expansion'? LOL
ITG, you might like my blog. Send me a gmail if interested, I write about gold, FOFOA, TEOTWAWKI and the Tinfoil Hat Brigade!
Yet another indicator that US data no longer matters--only Europe and China.
Still strong bids in TLT today after the flurry of horrid economic news. Interest rates keep getting driven lower and lower providing even more cheap fuel for the stock speculators who can now buy anything and everything with super low margin rates.
Strong bid in oil. Your bus pass won't be getting any cheaper. You must be puking up blood.
I don't know how many times I have read your posts and junked you but I have to grudging admit quite a few of your calls have been correct.
Yesterday you predicted that Greek issue would somehow be "resolved" before trading opened, and low and behold you were right...
It seems Robo Mom didn't raise such a fool afterall.... I will miss junking your posts, it was such fun......
ISM Chicago: -Employment index: Down -New Orders: Down (big) -Prices paid: slight down
Can you spell recovery?
If you can't, than just remember these two little letters: Q+E
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