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Goldman Downgrades 2011-2012 GDP from 3.5%-4.0% To 3.0% To 3.5%

Tyler Durden's picture




 

As expected... and this is just the beginning. More tomorrow.

 

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Fri, 05/06/2011 - 21:28 | 1250042 Ricky Roma
Ricky Roma's picture

Good news for skynet.  I'm feeling QEasy.

Fri, 05/06/2011 - 23:08 | 1250296 Id fight Gandhi
Id fight Gandhi's picture

Now at this hour?

Probably dropping eps on companies too so they can bte.

Fri, 05/06/2011 - 23:37 | 1250333 Xibalba
Xibalba's picture

Got puts?

Fri, 05/06/2011 - 21:33 | 1250049 Alcoholic Nativ...
Alcoholic Native American's picture

In Econ 101, we learned how to calculate GDP, apparently you just fill in a pre algebra equation with made up numbers.

Fri, 05/06/2011 - 21:34 | 1250063 Caviar Emptor
Caviar Emptor's picture

GDP in gold? 

Sat, 05/07/2011 - 03:49 | 1250558 Popo
Popo's picture

Well, that would need revision almost daily

Fri, 05/06/2011 - 21:39 | 1250069 gimli
Fri, 05/06/2011 - 21:45 | 1250080 RobotTrader
RobotTrader's picture

That must mean we must buy all the IBD Top 50 mo-mo stocks hand over fist on Monday...

 

Fri, 05/06/2011 - 21:45 | 1250093 I am Jobe
I am Jobe's picture

GS still doing GODS work. God wants GS to rule the universe. Time to hang the bitchezzz from Harvard, Yale and all the MOFO IVY LEAGUE schools.

Fri, 05/06/2011 - 22:50 | 1250256 AccreditedEYE
AccreditedEYE's picture

Your rally ended on Monday Robo. I hope you enjoyed the run. :)

Fri, 05/06/2011 - 22:50 | 1250258 AccreditedEYE
AccreditedEYE's picture

PS- Hope you're hedged!

Fri, 05/06/2011 - 21:55 | 1250123 digalert
digalert's picture

El Rushbo visits ZH frequently...

One of the websites that I keep track of on matters of economics is a place called ZeroHedge.com, and there's a poster there by the name of Tyler Durden who occasionally posts some interesting stuff.

http://www.rushlimbaugh.com/home/daily/site_050611/content/01125106.gues...

that's a cool shout for ZH to more than a million listeners.

Fri, 05/06/2011 - 22:11 | 1250161 FischerBlack
FischerBlack's picture

Translation: zerohedge is a hotbed of mistrust of power. The Democrats are in power. Therefore, zerohedge is a hotbed of mistrust of Democrats. Ergo, everyone should read it.

Fuck you Limbaugh. And fuck the Democrats and the Republicans, too. You're two sides of the same (ever-depreciating in value) coin.

Fri, 05/06/2011 - 22:12 | 1250170 Ned Zeppelin
Ned Zeppelin's picture

totally +1

Fri, 05/06/2011 - 22:34 | 1250220 Dejean Splicer
Dejean Splicer's picture

Rush AIPAC Limbaugh. The lizard peoples mouthpiece.

Fri, 05/06/2011 - 23:33 | 1250326 Goofy Bastard
Goofy Bastard's picture

Do a search on YouTube for "Louis CK Donald Rumsfeld Lizard"

Fri, 05/06/2011 - 23:18 | 1250313 spiral_eyes
spiral_eyes's picture

+9001

Fri, 05/06/2011 - 22:12 | 1250171 Long-John-Silver
Long-John-Silver's picture

Got Chiggers on your balls?

Sat, 05/07/2011 - 02:10 | 1250507 Ben Dover
Ben Dover's picture

+1 indeed.

Fri, 05/06/2011 - 22:08 | 1250166 Long-John-Silver
Long-John-Silver's picture

I'm sure at least 10,000 new trolls are now waiting on the porch.

Sat, 05/07/2011 - 05:49 | 1250612 css1971
css1971's picture

That's ok. As long as there is just one person manually approving the accounts you have nothing to worry about.

Sat, 05/07/2011 - 07:56 | 1250660 Urban Redneck
Urban Redneck's picture

Brace the doors, man the ramparts, and start heating the oil.

Reinforcing the captcha defenses with some multiple choice ideological troll baiting traps would help, but it's too much work.

Sat, 05/07/2011 - 08:08 | 1250664 augie
augie's picture

 More site traffic=more money in advertisments. The Tylers have bills to pay too.

Sat, 05/07/2011 - 10:57 | 1250835 Urban Redneck
Urban Redneck's picture

I fully support the Tylers' right to profit.  However, I think there is a distinction to be made between site traffic and trolls running uncontrolled through the comments.  A moderate quantity of quality trolls leaving quality troll droppings is good for maintaining intellectual discipline- but a mindless million-troll-army destroys the dialogue and turns the mine field into a mud pit, which could have longer term implications.

Fri, 05/06/2011 - 22:31 | 1250211 RobD
RobD's picture

I used to listen to Rush every day and hang out at the Ace of Spades blog. Then one day someone linked to a zerohedge post from Ace of Spades and I was hooked. Pretty much stopped listening to Rush and reading Ace after that. Rush is a good guy, sure he does his shtick to make his money but if he is pointing the ditto heads to zero hedge then he is doing more then most of the big personalities out there. Heck he will probably lose more listeners to zerohedg lol.

Sat, 05/07/2011 - 05:40 | 1250608 mccoyspace
mccoyspace's picture

and I first heard about zerohedge from a mention in the nytimes.... so there you go.

Liberal media, right-wing media -- on a long enough timeline, everyone comes to zh

Sat, 05/07/2011 - 09:18 | 1250724 TIMMAYYY
TIMMAYYY's picture

i was looking for a space to discuss resistance and fighting the man.

 

But all i found was a bunch on ninnys who play the game and make crazy bets. And I fell in love...

 

However, i recon its time to do something before they catch that underpaid intern who monitors our accounts and find out who we are and we all get disappeared.

 

I hope tyler knows how to microwave a hard drive...

Sat, 05/07/2011 - 10:05 | 1250768 McPoopypants
McPoopypants's picture

Matt Taibbi and Griftopia mentions ZH. Wanted to check it out, now I'm stockpiling silver bars.... not sure what happened in between those two data points. Blackout?

Sat, 05/07/2011 - 10:23 | 1250794 ISEEIT
ISEEIT's picture

Years ago, I listened to Rush. I read his books too. The guy gets more right than wrong and he can be very entertaining. Haven't listened to any talk radio though for 5+ years and the only T.V. I watch is two and a half men (no T.V. watching for the last twenty+ years).

Hell, I just got internet about 3 years ago and at the beggining I thought the Drudge/Fox/Newsmax sites pretty well explained the world!

I really don't recall how I was lead to ZH but I was and haven't turned back. I lucked into this paradise right around Marlas Heydey, just during the blogspot transition. I had a different sign-in then because my retard ass couldn't keep the password straight but I've been here. I don't view the world in the same way anymore (how could I?).

I rarely sign-in/comment, but I'm glued to ZH and although I do check other sites ZH does not have any true competition (IMHO).

I used to check Huff post daily (oppositional research) and on at least one occasion that slut bitch referenced ZH.

Not anymore.

Thank you ZH for what you do.

Any possible way that Marla could be compelled to make an appearance??

If you are not aware of her brilliant work, get aware.

Fri, 05/06/2011 - 22:37 | 1250240 buzzsaw99
buzzsaw99's picture

This is your brain.

This is your brain on Limbaugh.

Any questions?

Fri, 05/06/2011 - 22:44 | 1250249 cossack55
cossack55's picture

Did you notice he said "Mr. Durden". I think he missed the whole fight club theme.

Fri, 05/06/2011 - 23:44 | 1250343 Cursive
Cursive's picture

, and there's a poster there by the name of Tyler Durden

Poster?  Rush obviously knows little of the blogosphere and even less about the Tylers.  Alas, we must be prepared for the influx of dumbass trollers coming our way.

Fri, 05/06/2011 - 21:59 | 1250140 Cone of Uncertainty
Cone of Uncertainty's picture

This new range is still way too fucking high.

1% - 1.5% is more like it.

Of course, that assumes that Bernanke can keep the QE3 charade going until the end of the year.

 

Fri, 05/06/2011 - 22:39 | 1250237 myshadow
myshadow's picture

My first thought was the 2's however,

Fri, 05/06/2011 - 22:12 | 1250147 FischerBlack
FischerBlack's picture

GDP=TBTF+TPTB+OMGWTF-LOL

Fri, 05/06/2011 - 22:25 | 1250202 rampancy777
rampancy777's picture

hey dont forget to divide both sides by FUBAR

Fri, 05/06/2011 - 22:25 | 1250205 rampancy777
rampancy777's picture

srry double post. i blame my isp.

Fri, 05/06/2011 - 22:20 | 1250193 Bob
Bob's picture

Measured in fiatscos, that target seems entirely attainable. 

Fri, 05/06/2011 - 22:35 | 1250232 Yen Cross
Yen Cross's picture

Cramer? Cramer? Jim Cramer? Fast Times @ Goldman High!

Fri, 05/06/2011 - 22:40 | 1250242 BlackholeDivestment
BlackholeDivestment's picture

I hear Chairsatan's Pilgrim re-released there number one chart topping Goldman Record profits too. http://www.youtube.com/watch?v=Sm-hR-725-8&feature=related

Fri, 05/06/2011 - 23:06 | 1250288 Yen Cross
Yen Cross's picture

You are either a sick puppy, or that is the Fed 12 in a Board meeting! LMAO!!!

Fri, 05/06/2011 - 23:08 | 1250295 buzzsaw99
buzzsaw99's picture

GDP, it's as easy as 1-2-3...

 

;)

Fri, 05/06/2011 - 22:55 | 1250266 AccreditedEYE
AccreditedEYE's picture

TD... you have had their number for so long now. Simply fantastic. The Squid does have one weakness and it is ZH. lol

Fri, 05/06/2011 - 23:44 | 1250351 Cursive
Cursive's picture

@AccreditedEYE

ZH = Kryptonite for GS/JPM/TPTB

Sat, 05/07/2011 - 00:07 | 1250369 AccreditedEYE
AccreditedEYE's picture

Indeed sir. It takes a pretty sharp mind(s) to frontrun these scum bags. They have to be shitting themselves as they are seeing Phase II crumble around them, despite their Fed/Gov/Media cabal. lol

Sat, 05/07/2011 - 01:08 | 1250447 rocker
rocker's picture

Don't forget. Today Bloomberg reported that JPM and BAC had a perfect trading quarter on their prop desk.

Every Fucking Day without Fail.  Beat that.  They are the Fake Market Makers. They decide, your fate.

Sat, 05/07/2011 - 09:46 | 1250743 Cursive
Cursive's picture

@rocker

Don't forget. Today Bloomberg reported that JPM and BAC had a perfect trading quarter on their prop desk.

And not an eyebrow raised in the media other than ZH.  The banking cartel has been exposed for anyone who cares to see it.  Until the banking plutocracy is vanquished, we a nation of debt slaves.

Fri, 05/06/2011 - 22:58 | 1250280 JW n FL
JW n FL's picture

Facts:

1. http://research.stlouisfed.org/fred2/series/BASE

Base money has tripled in 3 years.

2. M1 has continued to increase to its highest level in history.

http://research.stlouisfed.org/fred2/series/M1

3. Same goes for M2

http://research.stlouisfed.org/fred2/series/M2

 

 

http://goo.gl/FnxBZ  Treasury Direct $14 Trillion Debt / http://goo.gl/TMl74   $15 Trillion in Loans / http://goo.gl/EXzal  / ='s $29T

 

 

US Treasury Tells Lawmakers It Needs $2 Trillion In Debt Capacity

 

http://www.zerohedge.com/article/us-treasury-tells-lawmakers-it-needs-2-trillion-debt-capacity

Fri, 05/06/2011 - 23:30 | 1250328 Worker Bee
Sat, 05/07/2011 - 01:12 | 1250451 rocker
rocker's picture

Who's taking the pocket change.  Way to go JW and WB.  Wake up all.

Sat, 05/07/2011 - 10:31 | 1250802 JW n FL
JW n FL's picture

it should be noted I stole this post.. but I love it so much I keep posting it over and over..

 

becuase its all there.. 300% more money in 3 years.. or growing the supply of money by 100% a year...

 

year 1 ='s $1.. Year 2 equals $2.. well by the time you get out to year fucking 4 or 5? what the fuck?

Sat, 05/07/2011 - 07:37 | 1250648 augie
augie's picture

Great articles JW. My favorite qoute is from Diamond about how discount window transparency will

 

"make it harder for people to use the discount window in the future”

Great, so they admit to the inevitability of another crisis, and their being a part of it (if they need access to liquidity). Government, private sector, it really is all the same thing. 3rd waves' a comin'

Fri, 05/06/2011 - 23:02 | 1250283 buzzsaw99
buzzsaw99's picture

I hear the E-Trade baby is trying to make up his losses by pawning off his iphone and betting it all on Soldat in the Derby bitchez.

Fri, 05/06/2011 - 23:06 | 1250286 buzzsaw99
buzzsaw99's picture

In case anyone missed it the first time:

http://www.youtube.com/watch?v=W4hfdaC7eL4

 

Fri, 05/06/2011 - 23:13 | 1250300 Yen Cross
Yen Cross's picture

Squids VS Bitchez Lets vote!!!

Fri, 05/06/2011 - 23:25 | 1250319 Tater Salad
Tater Salad's picture

Buzzsaw, that was some funny shit!  Keep 'em coming!

Fri, 05/06/2011 - 23:47 | 1250339 Dejean Splicer
Dejean Splicer's picture

Minutes of meeting between TEPCO and the government on the 1st May. “If the current situation continues, high density radiation will be released on the 8th May.”

http://enenews.com/email-from-japanese-govt-officials-says-high-density-...

----------------------------------------------------------

The U.S. government has abandoned efforts to monitor elevated levels of radiation that infiltrated the nation’s water and milk in the wake of a nuclear catastrophe in Japan. [...]

“I really am horrified,” said Daniel Hirsch, a nuclear policy lecturer at the University of California, Santa Cruz. “It’s quite staggering and it seems to be part of the pattern of the EPA trying to make sure that there are no measurements that could cause people to be concerned.”

http://enenews.com/nuclear-expert-i-really-am-horrified-that-feds-abando...

------------------------------------------------------------

Sat, 05/07/2011 - 10:45 | 1250820 takinthehighway
takinthehighway's picture

EPA RadNet doesn't post readings past 4/21/11 or thereabouts, but here's a site that is current:

http://www.radiationnetwork.com/

Fri, 05/06/2011 - 23:52 | 1250357 Cursive
Cursive's picture

There's already a website called "Before It's News."  We need a website called "Friday Evening Repeater," where all the horrible Friday news that is leaked heading into the weekend is re-posted on Monday morning.

Sat, 05/07/2011 - 01:03 | 1250445 Dixie Rect
Dixie Rect's picture

They use former Goldman-Sucks puppet Timmy's Turbo tax to make up any numbers they want. See www.shadowstats.com for reality.

Sat, 05/07/2011 - 01:14 | 1250452 CrashisOptimistic
CrashisOptimistic's picture

The thing that is being missed here is GDP is crashing.  Q1 was a relatively strong quarter and it painted 1.8%.  Even if you give it some upward revisions, you're not going to get close to 3%.

That was Q1.  Today's U3 report is based on a 1 week long phone survey which must include the 12th day of the month.  That means yesterdays explosion in new claims, and the previous week's uptick in claims . . . was missed.  They surveyed before those firings.  The May number is going to be much worse unless there is some explosion to the upside in hiring, and none is planned.

Q2 is seeing these firings explode.  There is no way in hell with all these firings that Q2 GDP will be 1.5% higher than Q1.

Clearly an attack on the Euro has been orchestrated to try to get oil down 10%.  The EU will have to respond because otherwise they will lose all their exports.  The attack has surely been powerful and maybe the EU will have to endure it.

Bottom line: If they can hold oil under $100 via the Euro attack, and these new claims and U3 upticks continue for May, Ben has cover for QE3.  It would be a very stark and clear manifestation of deflation and he could lean on that to justify the additional printing.

Sat, 05/07/2011 - 02:35 | 1250520 Flakmeister
Flakmeister's picture

Yep... you get it... in spades. No way he can do QE3 with oil at $115....

Sat, 05/07/2011 - 05:45 | 1250609 css1971
css1971's picture

His real problem is that oil (energy) drives the economy, not the other way around.

Cheap energy makes it possible to increase productivity, which allows us to service a greater debt load (growth). Without cheap energy there is no productivity gain, the new money simply pushes up demand for oil which is now rate constrained (peak oil). So more money translates directly into higher oil and commodities; inflation. The last time this happened was the oil shock in the 70s.

This time however, the Saudis cannot turn on the oil tap. We have to transition our entire infrastructure to another energy source... and that means a sunk invesment of trillions, hundreds of trillions. It isn't even clear it can be done... The doomers (I'm not one) are looking at a 90% world population reduction over the next 100 years.

Sat, 05/07/2011 - 05:22 | 1250599 kushmere
kushmere's picture

Maybe I'm missing something, but it sounds like your saying we are in the middle of a currency war. 

Sat, 05/07/2011 - 07:46 | 1250654 augie
augie's picture

I could be wrong (and more often than not am) but this smacks more of an percieved currency war than an actual one. Why would trichet make such dovish comments? Its a balance of power by the global elites. After QE3 is ensured, then it will be America's, or (insert other global economy here), turn to take the fall for the EU. I'm sorry, i just find it hard to believe all of this malarky is not coordinated.

Sat, 05/07/2011 - 01:41 | 1250486 The Heart
The Heart's picture

One can sure learn to miss all the great commentary around the ONGOING Fukushima disaster. The reporting on this has just about dried up.

Here is Arnies latest:

http://vimeo.com/23393101

Sat, 05/07/2011 - 05:47 | 1250610 Dejean Splicer
Dejean Splicer's picture

Very important point @3:15

Sat, 05/07/2011 - 02:22 | 1250496 tahoebumsmith
tahoebumsmith's picture

Why doesn't Lloyd just run for president and get it over with already...I'm sick of this three layer ponzi pseudo bull, wash, rinse and repeat, hey look I think i'm gay bullshit... Just look in the mirror and come out of the closet bitch. You're a Pomo homo and still pretend like you're some kind of financial genius that actually does something. You call the shots SKANKFEIN, actually you now have robots doing that for you, so intead of spending the duration of your life controlling everyone and masturbating alone, how about just coming out of the closet with  your favorite G- string on  so Benron and Timmay can actually  feel the 1 inch uncircumcised prick they have been sucking for the past few years...

Sat, 05/07/2011 - 02:17 | 1250511 nathan1234
nathan1234's picture

Whenever they are found loosing they change the rules of the game. Now it is time that we changed the rules of the game. We need to buy physical and shun their exchanges which anyway are rigged to suit their trading patterns and profits.

How can anyone not understand that these rogues have the authorities on their side and are looting us. A no loss but $112 million a day profit is a total sign of the all markets. being manipulated.

If the authorities were neutral they would insist on the margins paid by those who sell to be given in silver or impose double the margin on those who cannot.

The sooner we keep our investments without any debt attached to it and shy away from stocks and manipulated commodity exchanges the better.

And all those having any silver or gold in any of these exchanges would be well advised to remove it ( if they are able to get it) to some other safe destination.

For those who think they can beat these criminals at their game during the run up to their destruction ( criminals), good luck.

Sat, 05/07/2011 - 08:58 | 1250705 Nnthnt1
Nnthnt1's picture

This is just routine according to the economist:

http://www.economist.com/node/18618589?story_id=18618589

Sat, 05/07/2011 - 09:06 | 1250713 dollartheque@ya...
dollartheque@yahoo.com's picture

Wouldnt that imply a fall in the Gold price soon, ? so we can have a buying opportunity?

Sat, 05/07/2011 - 10:22 | 1250791 Franken_Stein
Franken_Stein's picture

The constantly flawless trading quarters at these Wallstreet banks remind me of the elections in our former socialist system, where the ruling party always received close to 98 % of the votes.

 

The COMEX is rigged, the Fed is rigged and the 2004 elections in Florida were also rigged.

 

Americans are living in a dictatorship.

A banana republic no different from Congo or Zimbabwe.

 

 

Sat, 05/07/2011 - 10:47 | 1250821 Kina
Kina's picture

Nice piece by andy xie - Caixin on-line

 

By Andy Xie 05.06.2011 15:43 Chimerica's Slippery Slope to Stagflation

Watch for more Fed quantitative easing, slower growth and policy traps in the coming quarters

 

http://english.caing.com/2011-05-06/100256416.html

 

 

 

Sat, 05/07/2011 - 11:24 | 1250874 dognamedabu
dognamedabu's picture

Alright TD..It is tomorrow. Like what a tease. 

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