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Empire Employment - Strike 3? PMI's Suggest NFP Growth Rolling
From Thermidor.
Last weeks weak retail sales already suggested that next months NFP may underwhelm with a headline of sub 300k including the census jobs next month. That would naturally suggest poor private sector employment and with the Empire Employment data out this morning that indeed appears to be increasingly the risk. Indeed, that relationship supports the roll we have already seen in the Chicago and Philly data…..Strike 3?
NFP vs. Empire Employment
NFP vs. Chicago Employment
NFP vs. Philly Employment
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"Empire Employment - Strike 3? PMI's Suggest NFP Growth Rolling"
NFP is the final fantasy holding this house of cards together. Since it is the easiest to manipulate, with inflation second on that list, don't expect it to reflect reality until well after the roll has over....ed.
Poor employment prospects?
That's actually great news! Think of all the freedom and opportunity these unemployed people now have... they just have to smile and think positive thoughts... that's all!
You are not going to want to miss this animation...
http://www.ritholtz.com/blog/2010/06/smile-or-die/?utm_source=feedburner...
H/T Trifecta Man
ZerOhead - this does look like a great recovery. I guess I can go rack up my credit cards again. /sarcasm
That would be the patriotic thing to do... or would that be the 'idiotic thing to do' ?
(I often confuse those two.)
Heck just buy gold and silver and palladium with the damn thing... support global miners in the great economic recovery!
BTW... I think I forgot to tell the people my above post was meant to be sarcastic... and it's showing! :)
Barbara Ehrenreich is a national treasure.
It's just a good thing that economic numbers no longer matter. As long as the EUR is up, everything is grand.
This is looking more and more like a March 2009 replay. The market will continue to melt up despite bad news.
Uncle Sugar said he didn't see a double dip and he'll continue to buy this market to convince the sheeple of the illusion.
It won't work, Ben, give it up. Reality always finds a way to win at the end.
As suggested earlier, the EURUSD daily chart is giving bullish signals.
http://stockmarket618.wordpress.com
http://www.zerohedge.com/forum/latest-market-outlook-1
We seem to be making a break for that 200DMA at the moment. Gotta love the robos that trade. Not a good single piece of macro news, and mico news has been turning south as well (Best Buy missed, so people do not have much disposable income). Sooner or later the first card will fall and it will tumble down into a massive nuclear explosion of burning money and upset constituents rioting in the streets. That reminds me, I need to order my gas mask.
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Hasn't been much good news lately (other than the launch of iPhone 4 and a new mac mini) but happy days of 2009 are here again. Bad data? Who cares? The analysts are saying stocks are cheap again. And they always know, right?
Right on, Harry!
Stocks are cheap again, what a relief! I was so confused in 2008 when they kept getting cheaper and cheaper every day for over a year! Guess they must'a been really really expensive before, but I don't remember any experts saying that. Silly dumbheads! What I gotta decide is should I eat at Taco Bell again or buy cheap stocks. Hmmmm.
drill rig Discoverer Enterprise on fire. Coast Guard announcement on marine radio frequiencies.
Sounds now more like some kid playing with a radio...
Well, maybe not...
DOW JONES NEWSWIRES The ship Discoverer Enterprise, from which BP PLC (BP, BP.LN) is recovering oil from a giant spill in the Gulf of Mexico, has been shut down temporarily following a small fire that has been extinguished, the company said Tuesday. The fire, discovered at about 9:30 a.m. CDT, was likely caused by a lightning strike, BP said. There were no injuries. The company has also shut down its oil containment and recovery operation as a safety precaution, it said in a press release. BP plans to resume oil containment and recovery operations later Tuesday, after final safety inspections are complete.
They are sooooo screwed...
Off topic
Did I miss this bit of news?
Saudi Arabia gives Israel clear skies to attack Iranian nuclear sites
http://www.timesonline.co.uk/tol/news/world/middle_east/article7148555.ece
Wouldn't it be funny if the Israelis decided to take out the Al Saud dynasty in a classic headfake action instead?
After all... I can think of 260 billion reasons why... and besides... where did most of the 9/11 bombers hail from?
Somebody may need a new job after the crash... Prince Bendar Barnanke anyone?