Dallas Fed Confirms Economic Re-Contraction, Respondents Complain About "Record Low Margins"

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Mon, 04/25/2011 - 11:04 | 1203508 Cindy_Dies_In_T...
Cindy_Dies_In_The_End's picture

We should all stand up at the same time and hold a sign that says "Well, DUH!!!" to the Fed.


Also Tyler, it is NOT Bernank's wet dream to see an increase in wages. If you read his scholarly articles, he kinda thinks the Great Depression did not end until wages FELL. So if that number is correct, that is not what he wants. Sticky wages are a problem.

Mon, 04/25/2011 - 11:05 | 1203533 eddybaby
eddybaby's picture


Mon, 04/25/2011 - 11:14 | 1203584 NorthenSoul
NorthenSoul's picture

So very typical of those tenured-for-life (with pension indexed to inflation TYVM) economists to have this sticky prejudice against the wages of other people than themselves.

Mon, 04/25/2011 - 11:29 | 1203625 topcallingtroll
topcallingtroll's picture

This is where keynes comes in handy.
"Ya getting too disruptive about those wage decreases buddy. Here, have a nominal increase. It's on me"

Mon, 04/25/2011 - 13:17 | 1204079 thames222
thames222's picture

love keynesian theory...where is he now when we need him?



Mon, 04/25/2011 - 11:06 | 1203526 RobotTrader
RobotTrader's picture

Obviously, its not affecting AAPL today, which is still green.  I guess the "resilient consumer" is anxiously awaiting the release of the white iPhone 4 at Best Buy on April 27.

Mon, 04/25/2011 - 11:21 | 1203599 Internet Tough Guy
Internet Tough Guy's picture

Food prices are already collapsing in L.A.
RobotTrader - Tue, Apr 12, 2011 - 10:14 PM

Yep, went to the MCD drive-through, where I usually order two McDoubles for a paltry $2.20.

But today, they announced a new special, two Big Macs for $3.25, so I took it.

Looks like the fast food joint are now front-running an all out collapse in food prices.

Mon, 04/25/2011 - 11:26 | 1203617 Harlequin001
Harlequin001's picture

looks like a real good reason to buy bank stocks...

Alternatively I could find a really big grid to go stuff my money down, that would do the trick.

Mon, 04/25/2011 - 11:24 | 1203618 mworden
mworden's picture

supersize you. Meanwhile $3/lb 80% hamburger, $4 gas, $4 bread, $13/50lb chicken scratch, etc etc

Mon, 04/25/2011 - 11:39 | 1203672 boiltherich
boiltherich's picture

Where do you get hamburger for $3/lb?  I used to buy the 93/7% fat at Safeway till it hit 5 bucks a pound, the 80% is actually tastier though a bit messy, still $4.29 a pound. 

As to indexing wages to inflation, my COLA has not gone up since 2008 making 2011 the third year without a raise. 

Mon, 04/25/2011 - 12:41 | 1203883 jtmo3
jtmo3's picture

Ha, got ya beat. Try 5 years for me.

Mon, 04/25/2011 - 12:11 | 1203773 SheepDog-One
SheepDog-One's picture

'The markets are not pricing in QE3, the markets are pricing in a robust consumer-driven recovery'- RobotTrader

Mon, 04/25/2011 - 11:07 | 1203532 LawsofPhysics
LawsofPhysics's picture

My margins have been collapsing since Ben started printing.  Nothing new here.

Mon, 04/25/2011 - 11:08 | 1203537 Cassandra Syndrome
Cassandra Syndrome's picture

What are the cures for cognitive dissonance and normalcy bias? Short, sharp shock treatment to awake the masses? How bad does it have to get until most people accept that this 80 year old Keynesian experiment is fooked?

Mon, 04/25/2011 - 11:10 | 1203566 NorthenSoul
NorthenSoul's picture

What Keynesian experiment are you talking about?

Ever seen a governement cutting expenses and generate surplus during good times as Keynes himself insisted upon repeatedly?

No, right?

So...what are you talking about again?


Mon, 04/25/2011 - 11:22 | 1203611 cxl9
cxl9's picture

For Keynes to have believed such a thing possible, given the observed nature of government, is at best silly and at worst criminally näive. Predictably, we got the "stimulus" (spending) half of the Keynesian prescription without the surplus (savings) half.

Mon, 04/25/2011 - 11:25 | 1203613 topcallingtroll
topcallingtroll's picture

Countercyclical spending to minimize recessions
Pro cyclical spending to gun the expansions.

Thats why we are where we are today.

Mon, 04/25/2011 - 11:26 | 1203621 Harlequin001
Harlequin001's picture


Now I know why I'm not an economist...

Mon, 04/25/2011 - 12:12 | 1203777 dexter_morgan
dexter_morgan's picture

spend in recessions, spend in expansions, spend when it's sunny, spend when it's cloudy - basically spend ALL THE TIME

Mon, 04/25/2011 - 11:32 | 1203642 Cassandra Syndrome
Cassandra Syndrome's picture

What am I talking about?


An obsession by his fanatical followers from Samuelson to Krugman to implement social choice on people using mathematical modelling through monetary and fiscal policies.

The dynamics of market forces made the depression of 1920-1921 mini. The government interference of hoover and worse still FDR under the watch of Keynes made the depression of 1929 to 1938 Great. It took a bloody war killing over 60 million people to bring it to an end.

They even got a term for it "Military Keynesianism"

Look at the global debt levels since the 1930s, its become mathematically impossible to service now, lets see them try and solve this mathematical conundrum.

Mon, 04/25/2011 - 12:08 | 1203764 dexter_morgan
dexter_morgan's picture

If Keynes was stupid enought to believe that governments would voluntarily do that then he was far stupider than I imagined........and I imagine him pretty damn stupid.

Mon, 04/25/2011 - 12:12 | 1203782 Rodent Freikorps
Rodent Freikorps's picture

Ideologues are rarely concerned with boots on the ground reality.

Mon, 04/25/2011 - 17:01 | 1205239 Mpizzie
Mpizzie's picture

Anarchy and communism both look equally appealing - until you see my neighbors down the street.

Mon, 04/25/2011 - 11:06 | 1203539 ivars
ivars's picture

Bad time to start tightening, but, as easing has not worked, what else to do?

Mon, 04/25/2011 - 11:45 | 1203701 NotApplicable
NotApplicable's picture

I'm hungry. Who's gonna buy me lunch?

Mon, 04/25/2011 - 14:21 | 1204497 BlackholeDivestment
BlackholeDivestment's picture

Does the looser buy lunch? ...or is the looser the buyer and the consumer in Chairsatan's world of market Zombie Wonders?

The 666 tramp stamp tatoo; is it not permanent, and there is no washing it off, once we accept the seal of the beast? http://www.youtube.com/watch?v=EPvuKX7tI-E Could it beeee .....Chairsatan is serving his own ass and U.S. all as lunch? http://www.youtube.com/watch?v=hfwFpRnOeGg 

Mon, 04/25/2011 - 14:31 | 1204543 BlackholeDivestment
BlackholeDivestment's picture

P.S. ZORG has another anthrax (via CroweAtBioPort) letter, I bet you lunch? http://www.youtube.com/watch?v=UjLO_CrZRmM


Mon, 04/25/2011 - 11:07 | 1203545 NorthenSoul
NorthenSoul's picture

Financialization of the economy and the hijacking of the political debte away from jobs toward the "gotta balance the budget" (you mean "Right Now or Die"??)  are sucking dry the needed capital for infrastructure restauration and long term investments. All this cannot do anything else than deprive consumers of their means to gain purchasing power, save, of course, for the minority who benefit from the financialization.

Mon, 04/25/2011 - 11:27 | 1203624 Sancho Ponzi
Sancho Ponzi's picture

What would you do to stimulate job growth and capital investment?

Mon, 04/25/2011 - 13:59 | 1204335 cxl9
cxl9's picture

1. Eliminate 90% of government. Most government jobs are nothing but welfare.

2. Close the law schools for a generation. We have enough lawyers.

3. Prosecute the blatant and pervasive fraud in the financial community. Same laws for all. Now enforce them.

4. Scrap the whole tax code and replace it with a citizen head tax. Everyone pays the same thing. Raise taxes for one, you raise them for all.

5. Eliminate the laughable idea of a debt-based currency and replace it with honest money.


Mon, 04/25/2011 - 12:33 | 1203838 Kickaha
Kickaha's picture

"infrastructure restauration"

Only when the supply of iPads have been consumed should we crush our infrastructure and serve it up in restaurants.

Mon, 04/25/2011 - 14:15 | 1204464 slewie the pi-rat
slewie the pi-rat's picture

the infrastructure is toast, BiCHeZ.

now, would you like fries with that?  any cheeZe?  how about a tofu tomatoe-banana slurpee?  with pine nutz?

Mon, 04/25/2011 - 11:08 | 1203552 mberry8870
mberry8870's picture

Imagine how bad this would be if people were feeling the full effect of the increase in gas prices. The payroll tax holiday has pretty much offset that increase (all while increasing our debt!). We are so screwed.

Mon, 04/25/2011 - 11:11 | 1203553 jkruffin
jkruffin's picture

HAHA,  Wanna know where all our money is going?  Check this out from FXCM:   it's all about Chinese manipulation baby


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Mon, 04/25/2011 - 14:26 | 1204501 slewie the pi-rat
slewie the pi-rat's picture

and poker is freaking illegal, now?  it is a wonderful game of skill and nash disequilibria resulting, like in america itself, in everybody losing, or at least ending up dead. 

too keynesian?

Mon, 04/25/2011 - 11:12 | 1203555 mberry8870
mberry8870's picture

Imagine how bad this would be if people were feeling the full effect of the increase in gas prices. The payroll tax holiday has pretty much offset that increase (all while increasing our debt!). We are so screwed.

Mon, 04/25/2011 - 11:33 | 1203637 Hansel
Hansel's picture

Wow, a nonuple post!  Congratulations on the impatient retardation.

Mon, 04/25/2011 - 11:42 | 1203683 mberry8870
mberry8870's picture

Yeah just imagine if the damned site didn't ask me 9 math questions? All of which we answered correctly. Good guess though.

Mon, 04/25/2011 - 11:12 | 1203558 mberry8870
mberry8870's picture

Imagine how bad this would be if people were feeling the full effect of the increase in gas prices. The payroll tax holiday has pretty much offset that increase (all while increasing our debt!). We are so screwed.

Mon, 04/25/2011 - 11:15 | 1203575 Hondo
Hondo's picture

Record low???  We went from record high to record low in a nano-second???

Mon, 04/25/2011 - 11:15 | 1203580 MarcusAurelius
MarcusAurelius's picture

So all I ask is ......are high commodity prices here to stay? It would seem that they are on the verge of doing what they always do in these scenarios. Deflating.

Mon, 04/25/2011 - 11:41 | 1203670 Hansel
Hansel's picture

Deflating like this?

Mon, 04/25/2011 - 11:15 | 1203587 shushup
shushup's picture

And once more - NO BODY CARES! Unfortunately.

Mon, 04/25/2011 - 11:21 | 1203600 AC_Doctor
AC_Doctor's picture

But ole Uncle Barry said we were having green shoots?

Mon, 04/25/2011 - 11:46 | 1203694 smithcreek
smithcreek's picture

Green shoots.  They sure gave up on that phrase pretty fast, haven't heard that in a while.  For the past year and a half we've been in the "as we begin to come out of this recession stage".  I'm amazed they can get away with that one for so long.  Then again, when the fucking joke of a pres we have can introduce the phrase "jobs saved or created" without being laughed out of office nothing surprises me much.

Mon, 04/25/2011 - 12:25 | 1203818 Dr. Porkchop
Dr. Porkchop's picture

It's the 'ongoing recovery'. Just like the 'Global War on Terror'. Empty phrases that can mean anything.

Mon, 04/25/2011 - 12:09 | 1203770 Worker Bee
Worker Bee's picture

Barry misread the tele-prompter. He was supposed to say Green sharts.

Mon, 04/25/2011 - 12:16 | 1203791 SheepDog-One
SheepDog-One's picture

Unfortunately all the green shoots were just poison ivy.

Mon, 04/25/2011 - 11:22 | 1203603 digitlman
digitlman's picture

Imagine if you posted the same thing 7 times...

Mon, 04/25/2011 - 11:48 | 1203709 NotApplicable
NotApplicable's picture

I wonder if you can?

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