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Tomorrows headlines today:
Consumers Stop Paying Mortgages, Start Buying Clothes Again - Dow/S&P/Banks Skyrocket
I wonder what number credit card these people are on?T
Those unemployment checks are falling off a cliff and so is the consumer. Why should they pay their debts? Nobody else does.
The Gov't does not pay their bills. They just issue themselves a new "credit card".
hmmmm gallup numbers seem a little more credible from the spike in Q4. Isn't there some big holiday in December where consumers generally spend more than all months of the year?
You mean the holiday that dare not speak its name?
It is hard to say - that number, like this one may not be adjusted for snow.
manipulation of data now reaching the absolute highest level only to influence the lowest of IQs. let's get that last marginal sucker buyer in and good bye bid.
Apparently the little guy poured into equity funds to the tune of $7.3 billion in the last week. Getting closer and closer to the top.
yep, all the classic signs are there.
keep this in your back pocket for future references, my emai.. zhdeadhead at gmail dot com
glad to see you are back with a vengeance.
I think it is just quarter end window dressing. Come April there is some serious pain in the charts.
less is more, more or less
And next month they will revise the 0.8 because it is 30 days away and all will be forgotten by next month. This market makes the tech bubble look rational.
Exact same crap they did (or still do) with the housing numbers every month.
Lincoln should have said "You can, in fact, fool damn near all the people, all the f---ing time."
Its more about greed and lack of moral capacity than ignorance. Ignorance is rampant thru society (or call it selective hearing) allowing the corrupt elite (that are all 'meth'ed out on power and piling up money at any expense) to plow thru our tax dollars like Peter North on some small blond chick laughing all the way.
Before this post I emailed Bob Pisani about the revision
I'm not expecting a reply..the question doesn't fit with cnbc's agenda..for the record my trading room is giving fox business a try..
bob pisani is an embarrassment even to bullish cheerleaders...i read his blog and 98% of the time i puke. irresponsible "journalism" at its finest.
even if one accepts the government's propaganda as truth it certainly gives lie to the government's shills whining about recovery....sales are still down 5% from the peak...that means 0 recovery to all of you f-tards mewing about recovery....
and with inflation just a tad below 10% it means that recovery is that much farther away....fuck your recovery lies...
i was thinking....you should register at the site.....
maybe some name..... befitting your posts.....
Hard to say....perhaps....
Always baffles me as to WHO it is they think theyre fooling? Some guy in a pickup truck with a new U/E check who decides to pile it into peak equities upon hearing retail sales is up a whoppin .03%, disregard double digit falls is sales tax revenue?
I am Jacks raging bile duct!
Come on now Comrades, it's all just "Double Plus Good"!!! Proles don't have the right to think and question! UGH!?!?!?
I think you mean it's all just Doublethink.
The 'ladies' of CNBC have me cracking up, they're ALL hyped up on the fake shopping spree news! Queen of Sleaze Erin Burnett just showed a $10,000 handbag she bought with some spare change, and suggests all 'consumers' should scurry out and buy the same. Got to get the sheep herded back into the malls.
$10,000 is my Social Security for an entire year. Who are these bimbos kidding?
Bob Pisani, like the tranny porn dudes at the SEC, just shows up everyday for his pay check. He don't care about the details.... those are for the real media to uncover.
BTW.... nice to see the CNBS is using ZH as their source for news. Joe and Becky paraphrasing Tyler.... might gain some credibility, at any rate.
Just proof that the old MSM is like our banks: A dead cat on life support. Just a matter of time.
Much worse than what you post TD .. try apples versus oranges
Here's an old one...
The truth squad caught the latest Federales lie. The Big Lie is always a lie in plain sight. It is discerned by a bottoms -up approach, the application of the empirical method. The first to catch it was the venerable Bill King of the King Report, who actually reads government reports before he comments on them, it was picked up by Art Cashin in his morning note yesterday, and then picked up by the New York Post.
Posted: 1:56 AM, December 17, 2009
by John Crudele
New York Post
Washington announced last week that retail sales rose a very healthy 1.3 percent during November from the previous month. Wall Street told us to applaud and the media, right on cue, proclaimed that the consumer was back in business.
The trouble is, the 1.3 percent gain was very misleading. In fact, misleading is a kind term for it. It was a lie -- but not one perpetrated by the Commerce Department, which released the figure.
Why am I questioning the 1.3 percent growth in retail sales? Because the Commerce Department questioned it, in a cryptic fine-print note, a sort of footnote, only it was at the top -- the top -- of the press release announcing the figure.
In a box, highlighted in the Dec. 11 release, was this statement: "Special Notice -- The advance estimates in this report are the first estimates from a new sample. The new sample for the Advance Monthly Retail Trade Survey is selected about once every two and a half years." The problem is, you actually have to ask the Commerce Department what that means if you want to know. Government bureaucrats aren't known for clarity. And nobody I could find bothered to ask.
One news organization, which should be ashamed of itself, proclaimed after seeing the release that "consumer spending was solid in November, suggesting that the economy is on sounder footing than previously thought." Not even close…
Well, here's the answer. It seems that the Commerce Department surveyed only 2,600 of the same retailers and restaurants in both October and November. The other 2,700 or so were new to the survey and were only asked about business conditions in November. ..
But this time a lot of the retailers that weren't questioned in November might have gone out of business because of the economy. To borrow a tired, old phrase -- the Commerce Department was trying to tell us that it was comparing apples in October with oranges in November. And the comparison really didn't add up to 1.3 percent growth. But there's more.
That 1.3 percent gain -- even if you were to accept it as valid -- was seasonally adjusted. That means the Commerce Department's computers changed a number here and there because of what has come to be expected over the last five Novembers…
Without the seasonal adjustment retail sales were absolutely flat from October to November -- 0.0 percent. Flat. No change.
AM here : Obviously this does not matter until it does. It is but another piece of kindling on the fire of deceit and fraud.
For this humble blogger, the tipping point for the common man, is looming as a sword of Damocles, the horsehair splintering, the capitulation towards the American Scheme as the American Dream.
The stealth stimulus of sending the banks jingle mail, the vitriol of opinion on both fences couched in either moralizing or justifying, would seem to suggest that many others also view this as a seminal event that will train-wreck itself through 2010.
To understand the markets think of water ... this tide will come back in and drown the fire. And then ... the Federales will spew kerosene.
Some of the smartest folks in the room have recommended that individuals should view their investment portfolio as if they were their own central bank.
Not exactly the right role model dontcha think?
The butterfly wings of the bankster enabling Federales and the insolvent prospering banksters, are causing the hurricane that is the true emulation advised in being your central bank... be you're own corporatocracy.
Life liberty and synarchy for all is one hell of a way to go through life son.
On that path, most assuredly the devil will have his due.
The demand for investigations will commence after November...
Very enlightning. Nice addition.
we are told lies about the lies that we were told by liars who only lie when they open their mouths reported on by corrupt press who
never seek to save one truth least it reveil the lie they thought they wrote long before they
lost their honor in the ocean of their masters lusts & greed hungrily sucking on the helpless souls of those who are the new debt serfs..
gold and silver shine in the dark as they always will. the masters roil and foam in rage as the reflected images burn their idols of paper.
ramblings I posted while drunk last night..has a certain application here ala our "4th estate"
funny thing about lies & liars... the more anti-truth impacts our brains experience... the more we begin to doubt if there is even such a world not built on lies by liars and untruth. point being... why do i second guess myself when answering every "Captcha" math question.
Math is quite possibly the last refuge of truth and sanity for those who seek liberty from this impaired world of debt games.
Why do republicans want to create more "welfare queens"??
Retail sales wont improve untill income of the population improves. And counting income improvement of top 1% of population doesnt count since they will not consume for the rest of them.
By allowing big corporations to set the lowest wages due to unemployment and GOP protection republicans are creating more "welfare queens".
I am for creating consumers out of those "welfare queens" by drasticaly raising the minimum wage. There is a huge pool of potential consumers itching to receive decent wages.
By IRS data over 50% of returns are incomes les then $33K. So, 50% of the US population is geting refunds bigger then they paid into taxes. They also pay wey little for SS and Medicare.
If someone believes that companies can not survive raising the minimum wage then explain to me why they keep raising menagement wages which represent 1/3 of labor costs and that precentage is raising.
Last 30 years income of middle class is stagnating while income for the rich is skyrocketing, and median income increase can not be counted to improve consumer spending, but mean income increase counts and it is not there.
GOP is supporting lowering the labor wages "in order to save companies" but that also creates "welfare queens" and lack of SS and Medicare contributions. It destroyes overall tax receipts for federal and state budgets.
I am for creating consumers out of those welfare queens and that will also improve retail numbers and save us for debilitating deficits.
With the amount of taxpayer money going to bailout the economy, it looks like Corporate America is the new Welfare Queen.
Batt and TD once again hitting it out of the park.
i can't help but wonder that someone somewhere is sitting back and laughing their ass off at all of us
Yes, and its name is HAL 9000 (aka Skynet).
Here's something that confirms this analysis:
Looking at that GDP could go barely negative in Q2 but I am sure they will message the first released number so it stays positive.
true, true but it limits upside and so it'll begin to crumble.
If I can go another 15 months without paying my mortgage I'll consider buying my girl friend a handbag for her birthday in 2011. But I think they already counted that into the Feburary calculation...because that's when I originally had that thought.
BoT-M Report Shows Retail Sales in February fell -1.7% (mom). Doesn't include Walmart but can be a good indicator for ex-autos.
Whereas what you say is true and obvious to all intelligent people who care to be able to read, it does not really matter. All that matters is what the sheeple want to believe. Just asl Geobbels. If one tells a big lie often enough, it is soon believed to be the truth. The bigger the lie, the more believable it becomes. That is the basic underlying premises in all propaganda. It seems that the USSA communists have finally mastered it. You better believe that there is more where that came from.
This was the kool aid from the New York Times in February about January's number
Surprising Strength in January Retail Sales
Published: February 12, 2010
WASHINGTON (Reuters) — Sales at retailers were unexpectedly strong last month, suggesting consumers were feeling a little more comfortable about spending, which could improve prospects for first-quarter economic growth.
Retail sales rose 0.5 percent as consumers stepped up spending not only on essential goods but on luxury items as well, the Commerce Department said on Friday.
Optimism over the increase was tempered by a separate report showing that consumer sentiment declined slightly early this month. But analysts dismissed the slip as insignificant and focused on the gain in sales as a hopeful economic sign.
THIS IS THE REVISION
The Commerce Department revised January data down to show a 0.1 percent increase compared with an originally reported 0.5 percent gain.
Even if it was 0.5 percent that's pretty damn weak. That means the average person spent $100.50 where they would've spent $100 the previous month. "Stepped up spending", give me a break.
Surprising Strength in January Retail Sales REUTERSPublished: February 12, 2010 WASHINGTON (Reuters) — Sales at retailers were unexpectedly strong last month, suggesting consumers were feeling a little more comfortable about spending, which could improve prospects for first-quarter economic growth.
THIS IS THE REVISION March 12 (Bloomberghttp://www.bloomberg.com/apps/news?pid=20601087&sid=a7k5UPWItwdY&pos=1
The Commerce Department revised January data down to show a 0.1 percent increase compared with an originally reported 0.5 percent gain.
Considering the fact that people swarmed into grocery stores emptying most of the food shelves before the snow storm cames in Feb in the all east coast area, even a flat Feb retail sales number seems to be a miserable figure.
Talk to anyone in retail. They are wondering how they are going to make it through spring. That is , if they haven't already shut down.
Try financing inventory right now. Non existant.
This is true...but why would you build inventory...the REALITY is that there is no demand. These #s are BS.
what expalins the acceleration in divergence around Dec 08? Stimulus? Doe's the government consider itself a retail consumer?
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