GDP Second Revision At 1.8% On Expectations Of 2.2%, Sub 1% Ex-Inventory Build; Initial Claims Surge To 424K

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Thu, 05/26/2011 - 08:35 | 1312572 LRC Fan
LRC Fan's picture

Fucking HUGE miss there...even Liesman had trouble explaining this one away.  So, look for the Dow to be +35 or so by the time Strategy Session kicks off at noon. 

Thu, 05/26/2011 - 08:36 | 1312578 oh_bama
oh_bama's picture


Thu, 05/26/2011 - 08:36 | 1312583 oogs66
oogs66's picture

LOL, was thinking the same thing!

Thu, 05/26/2011 - 08:35 | 1312588 snowball777
snowball777's picture

Osama, Schwarzie, Volcanos....take your pick, Steve!

Thu, 05/26/2011 - 08:57 | 1312674 Weisbrot
Weisbrot's picture


at least we can rely on the honesty of th Bureau of Lying Statistics to be perpetually full of crap when it comes to the economy.


Thu, 05/26/2011 - 08:35 | 1312573 ziggy59
ziggy59's picture

its a recovery on Htrae

Thu, 05/26/2011 - 11:08 | 1313177 TruthInSunshine
TruthInSunshine's picture

The U.S. is, even by its own reported data (and with some adjustment to reflect a more pure form of reality - i.e. appreciating inventories for what they are in relation to GDP 'growth') is 0.9% away from economic contraction.

Way to save the day, Bernanke, Paulson, Geithner...

That's some seriously efficient large cash that you expended, and we're so glad to see the fruits of your impecable mental masturbations now blooming.

You saved the economy. You did it, guys. And now we can all rest easy knowing that the increase in the debt and quality of the Fed's and its member banks' balance sheets are that much healthier, too!


Thu, 05/26/2011 - 08:32 | 1312574 youngman
youngman's picture

Stagflation with an extra trillion or two dollars every year.....

Thu, 05/26/2011 - 08:35 | 1312575 Alex Lionson
Alex Lionson's picture

Looks more like a depression...

Thu, 05/26/2011 - 08:50 | 1312653 Caviar Emptor
Caviar Emptor's picture

It's both!

Thu, 05/26/2011 - 09:08 | 1312717 Thomas
Thomas's picture

Two mints in one.

Thu, 05/26/2011 - 11:13 | 1313199 Captain Kink
Captain Kink's picture

That is hilarious.

Nice Avatar.

Thu, 05/26/2011 - 14:41 | 1313892 Ropingdown
Ropingdown's picture

The entire Fed program has been to fight off nominal deflation until hopefully growth appears.  If the world economy continues to weaken, that effort will appear useless, and deflation will be preferable to an endless burn.  Letting investors and businesses get ready for the deflation if they bother to pay attention wasn't a bad idea. Depression is still more likely than a boom.  At best moderate inflation will be enough to hide the reality of real but slow declines in asset values and wages.  Slight errors could blow the thing sky-high, of course.

Thu, 05/26/2011 - 08:35 | 1312576 Sean7k
Sean7k's picture

Should be good for 50 pts. 

Thu, 05/26/2011 - 08:35 | 1312577 Archimedes
Archimedes's picture

So the bots will interpret this as positive...S&P 1450 here we come!

Thu, 05/26/2011 - 08:37 | 1312585 oogs66
oogs66's picture

Personal consumption much weaker.  Has to be good for retailers, right?  More to spend now this quarter?  Insane.

Thu, 05/26/2011 - 08:39 | 1312598 Boilermaker
Boilermaker's picture

Absolutely.  REITs will hit a new 52 week high today as they do virtually every day.

Thu, 05/26/2011 - 08:38 | 1312609 snowball777
snowball777's picture

Why they can lay off thousands now...think of the money they'll save!

(like a speedfreak talking up weight-loss as a feature of their booty bump habit)

Thu, 05/26/2011 - 11:15 | 1313204 pre
pre's picture

That's actually a great example.  The next time I hear a CEO, one of the MSM, or Politicos pimping the economy, I'll be seeing a Meth head talking about how easily they've trimmed down.  Sure it'll kill them in the end; but just look at how easy it was to lose 50 lbs.

Thu, 05/26/2011 - 15:15 | 1313990 jmc8888
jmc8888's picture

...and of course the weight loss is temporary.  But the addiction will most likely be endless.  Short term gains at long term expense.  Great match.

Um.....Glass(not that kind)-Steagall

Thu, 05/26/2011 - 08:36 | 1312592 Boilermaker
Boilermaker's picture

The "market" loves it.  REITs love it even more premarket. 

It's just so damn believable. 

Thu, 05/26/2011 - 08:39 | 1312593 Fantasy Planet
Fantasy Planet's picture

I'm not gonna spin it, you spin it.

I'm not gonna spin it.

I've got an idea, let's get Timmy.  He'll spin anything. 



Thu, 05/26/2011 - 08:41 | 1312608 mayhem_korner
mayhem_korner's picture


He likes it!  Hey Timmy!

Thu, 05/26/2011 - 08:36 | 1312595 MrTrader
MrTrader's picture

QE III + QE IV here we come!

Thu, 05/26/2011 - 08:44 | 1312610 buzzsaw99
buzzsaw99's picture

Yep. Wouldn't want to shock the monkey.

Thu, 05/26/2011 - 08:39 | 1312596 jtmo3
jtmo3's picture

Green day to follow on wall street. After all, when the money's free...

Thu, 05/26/2011 - 08:37 | 1312602 Alex Kintner
Alex Kintner's picture

Ha. IBM made its contribution to the job bleeding this week. It started its annual 'Job Offshoring Program' -- to be PC, they call them "Resource Actions". They typically layoff 10-15,000 US workers and ship the jobs to India, China and Brazil.

Thu, 05/26/2011 - 08:39 | 1312604 RobotTrader
RobotTrader's picture

Same reaction as usual to horrid economic reports:

- Gold down

- Silver down

- Tiffany's up $2.50, new record highs

- Guess up $5 on blowout earnings

- Priceline over $500 again

- Another new record high for NFLX

- Treasuries rallying again, ignoring debt ceiling

Market continues to shrug off bad news and climbs the wall of worry.

Thu, 05/26/2011 - 08:41 | 1312613 LRC Fan
LRC Fan's picture

Gold has been holding up extremely well lately...contrary to what you and Math Man claimed was "coming"-the "surge in volatility" in gold.  Hasn't happened yet.  I'd say we get to 1600 before we see any real volatility.  Even then, a few $30-50 down days here and there isn't the end of the world-just another chance to load up before we take out $2k and beyond. 

Thu, 05/26/2011 - 08:46 | 1312624 Johnny Lawrence
Johnny Lawrence's picture

Well said.  For someone who believes in the IBD system, Robo is very selective in what he highlights.  Anyone who follows the IBD system would see that gold looks very good technically right now.

Thu, 05/26/2011 - 09:07 | 1312660 Caviar Emptor
Caviar Emptor's picture

Gold just under record levels. Tells you that profits from commerce or stock trading are evaporating in the face of inflation in the cost of living, working and doing business. 

Thu, 05/26/2011 - 09:00 | 1312697 LRC Fan
LRC Fan's picture

Yeah, unlike most others I actually gave Math Man and Robo a chance to prove themselves without any bias.  Not sure why I did that.  They simply highlight the positives just like the idiots on the blowhorn.  Any time silver is way up where are they?  Any time the big momo names are down, where is Robo?  Eating a fucking Big Mac? 

Bottom line-Qe3, 4, 5, 6 ARE coming, gold and silver FTMFW. 

Thu, 05/26/2011 - 09:06 | 1312705 tmosley
tmosley's picture

Everybody gave them a chance.  Multiple chances even.  Just because you didn't witness it doesn't mean it didn't happen.

Thu, 05/26/2011 - 09:30 | 1312809 SheepDog-One
SheepDog-One's picture

Its very easy for MomoFader, every day he just gets a new piece of paper and writes down his new 'portfolio of trusty stalwarts' after searching for whatever happens to be up.

Thu, 05/26/2011 - 08:45 | 1312620 Deep
Deep's picture

Ya, hell of a wall its climed in last 3 months, almost 4

high wall i guess


Thu, 05/26/2011 - 08:42 | 1312622 snowball777
snowball777's picture

Participating in the Charlie Sheen Economy (tm), gargling with Courvoisier, and wiping your ass with "ins" won't fix the core economy, Robo.

Keep those Tiffany bobbits safe...we'll be back for 'em later.


Thu, 05/26/2011 - 08:54 | 1312646 Sean7k
Sean7k's picture

Gold and silver fell in Europe long before this report. Futures are at +2, Come on Robo, that is just sloppy.

Thu, 05/26/2011 - 08:54 | 1312658 monopoly
monopoly's picture

Robot, you are an absolute idiiot. Where were your posts as gold moved 45 dollars higher, silver up 4 dollars, PCLN down 30 points, NFLX deals with 15.00 dollar sales which would work well in a depression. How come you never post anything about China frauds.

Where were you when LNKD blew up from 122 to 86. What planet are you on?

Tyler, where is the Goddamn ignore button.

Thu, 05/26/2011 - 10:41 | 1313089 redarrow
redarrow's picture

Seriously, I am tired of the constant junk posted by him. At least before he was putting up some skimply clad models but not anymore. Looks like someone got to him and he found religion.

Thu, 05/26/2011 - 09:03 | 1312707 SheepDog-One
SheepDog-One's picture

'Personal consumption MUCH weaker'? RainbowTrader? But you said the market is pricing in the obviously robust consumer consumefest? So what now?

Thu, 05/26/2011 - 09:52 | 1312880 Shock and Aweful
Shock and Aweful's picture

Yep....all will be well in mo-mo land until all of a sudden is isn't.


There is gonna be a massacre in the stock and bond markets at some point.  Anyone who is counting this to continue had better hope Ben will give you another dub-sack of  "QE" so that hot money, drug-addicted stock-market levitation can continue just a while longer... 

The only problem is that the 2 rounds of QE (and any other money-injection games they play) have only made the up-slope on this roller coaster higher and steeper.  At some point though....gravity (or reality) is going to take hold and going to pull this whole train over the top...and onto the down slope.  Once that happens, it will not take long to reach a terminal velocity....Think you are smart enough to time it just right?  Will you be able to jump off the train at the top?  Are you going to be able to liquidate quicker than the HFT robots?  IF might want to consider taking all of the profits you have made in this faux-economy and buy yourself some tangible assets.  Land, gold, food, ammuntion as well as getting yourself out of debt completely.


Or...maybe I am just a paranoid freak.  Maybe I should just realize that our  stock market is going up as a reflection of the progress and growth we have made ....financially, economically, politically, and socially. 

Afterall...the economy is getting better right?  Jobs are getting beter, right?  The banking and financial casino has been closed down and the problems fixed...right?  And Facebook really is worth half a billion dollars.....


You're right...all is well here...I am going all in on Priceline, Netflix and Linked-In...and may sell all my physical metals for a bunch of shares of GM and Citibank....UP UP AND AWAY TO A BRAVE NEW TOMORROW!!

Thu, 05/26/2011 - 10:24 | 1313003 trav7777
trav7777's picture

ZOMG teh goleds are down $6

Thu, 05/26/2011 - 08:42 | 1312607 Robslob
Robslob's picture

From Fed speak earlier in the month...commenting on the only way easing would turn into tightening is if GDP were to grow beyond expected levels.

Or in other words, more QE in the form of <enter here>....

Poor Robo...still looking at the paper price of gold are you...lmao...


Thu, 05/26/2011 - 08:45 | 1312630 youngman
youngman's picture

from the 2 year old news this morning about the 0.01% loans...they are doing it today..and we will not hear about it until another two years goes by......but in my will be over by then...QE disgusts me to read this kind of crap...I was taught right and wrong....this is wrong..very wrong....

Thu, 05/26/2011 - 08:41 | 1312616 Xibalba
Xibalba's picture


Thu, 05/26/2011 - 08:44 | 1312617 RocketmanBob
RocketmanBob's picture

More to come

More commentary, or more stagflation :)

Thu, 05/26/2011 - 08:45 | 1312619 Johnny Lawrence
Johnny Lawrence's picture

Dow futures still +2.

Thu, 05/26/2011 - 08:45 | 1312631 monopoly
monopoly's picture

GM, and another piece to this 1,000 piece puzzle falls into place. Said it a dozen times, gonna take a while but the pieces are slowly filling in.

Still not shorting this market.

Thu, 05/26/2011 - 08:49 | 1312647 digalert
digalert's picture

Wait till Barama gets home...he's gonna be mad.

Thu, 05/26/2011 - 08:50 | 1312652 Cassandra Syndrome
Cassandra Syndrome's picture

Private investment is at 0.23%, that is the compionent that drives recoveries and its non existant.

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