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    Here’s a question that might have you pondering: Is gold a commodity? More importantly, are we doing a disservice to the gold industry by calling gold a commodity? These may sound like silly...

Jobless Claims: 454,000 - Stagflation Baby (Confirmed By Durable Goods)

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Thu, 01/27/2011 - 09:30 | 908915 Commander Cody
Commander Cody's picture

I'm sure its all good.  Rally on!

Thu, 01/27/2011 - 09:35 | 908939 Handle with care
Handle with care's picture

QE3 to be priced in - DOW 15000 here we come

Thu, 01/27/2011 - 11:08 | 909265 DaBernank
DaBernank's picture

Who cares if anyone has a job? ...S&P 1300, bitchez!!! Long NFLX, momo mofos rule!!! Buy the Egyptian dip!!!

Thu, 01/27/2011 - 11:48 | 909377 panika2008
panika2008's picture


Thu, 01/27/2011 - 11:58 | 909399 RaymondKHessel
RaymondKHessel's picture

Snow rocks ::: without ever leaving your house you can
a) file for unemployment online
b) watch netflix
c) order from amazon anything
d) buy silver and gold from APMEX
e) buy buy buy the SPX on etrade
need I go on ?

it all makes perfect sense

Thu, 01/27/2011 - 14:18 | 909892 gookempucky
gookempucky's picture

Didnt mean to cut in front of everyone but if you would like to know about your states UE situation complements of ProPublica. Many are bankrupt.



Thu, 01/27/2011 - 17:29 | 910732 smlbizman
smlbizman's picture

i see my state is well funded, md...my last 3 years of umemployment rates go like this...57.00, 750.00, 1,350.00.....no we are not the kind that lays off....

Thu, 01/27/2011 - 09:44 | 908972 Salinger
Salinger's picture

and the futures yawn

Thu, 01/27/2011 - 09:52 | 909016 cnbcsucks
cnbcsucks's picture


For the life of me...I've been a market junkie for 30 years.  Everything I THOUGHT I knew about how money and markets moved and what moved them is now officially out the window.

How can we have a downgrade of Japan's debt (not exactly an obscure economic power last time I looked) and some of the most abysmal economic data reported this morning and this market NOT be setting up to go over the cliff???  Absolutely unbelievable...


Thu, 01/27/2011 - 10:16 | 909110 Eric The Red
Eric The Red's picture

My thoughts exactly.  You and I are brothers by another mother.

Thu, 01/27/2011 - 10:39 | 909176 hedgeless_horseman
hedgeless_horseman's picture

How can we have a downgrade of Japan's debt (not exactly an obscure economic power last time I looked) and some of the most abysmal economic data reported this morning and this market NOT be setting up to go over the cliff??? 

Clearly, you do not understand how the confidence part of a con works.

Thu, 01/27/2011 - 10:57 | 909218 cnbcsucks
cnbcsucks's picture

Apparently, I still have a lot to learn...


Thu, 01/27/2011 - 11:19 | 909302 Caviar Emptor
Caviar Emptor's picture

You, I and many other long time market junkies have undergone the same transformation. It's the re-awakeing! Bring us into the light! :-)

It goes back to the absurdist posts from yesterday where someone else blurted out what I've been saying: "There IS NO Market!" Just like Neo in the Matrix learns from the Spoon Boy that "There is no spoon", we have learned that it's not the spoon thst bends or the market that moves, it's merely The Bernank that moves. The more we accept it, the more money we make (and later, the less we'll lose)

Thu, 01/27/2011 - 12:22 | 909455 traderjoe
traderjoe's picture

An alternative interpretation of your quote is that, like you state, there is no market. Therefore, the market does not exist, and money does not exist. It is only you. 

Spoon boy: Do not try and bend the spoon. That's impossible. Instead... only try to realize the truth. 
Neo: What truth? 
Spoon boy: There is no spoon. 
Neo: There is no spoon? 
Spoon boy: Then you'll see, that it is not the spoon that bends, it is only yourself. 

Another quote:

"The Matrix is a system, Neo, and that system is our enemy. When you are inside, you look around, what do you see? Businessmen, teachers, lawyers, carpenters, the very minds we are trying to save. Until we do, these people are part of that system and that makes them our enemies. You have to understand that most of these people are not ready to be unplugged and many are so hopelessly dependent on the system, they will fight to protect it. The Matrix is everywhere. It is all around us. Even in this very room. You can see it when you look out your window or when you turn on your television. You can feel it when you go to work, when you go to church, when you pay your taxes. It is the world that has been pulled over your eyes to blind you from the truth."

Thu, 01/27/2011 - 15:08 | 910091 Cathartes Aura
Cathartes Aura's picture

good stuffs traderjoe. . . for those that resonate with the above realisations, a short vid that "illustrates" perfectly. . .

"The Story of Your Enslavement"


Thu, 01/27/2011 - 10:58 | 909225 EscapeKey
EscapeKey's picture

Ever increasing expectations of inflation.

Thu, 01/27/2011 - 11:10 | 909266 CrashisOptimistic
CrashisOptimistic's picture

Experience observing a process has no value in understanding a completely different process.

This is not a market.  This is computers that react to inputs to their algorithms.  The algorithms weight claims 0 and durable goods 0.  Humans will not intervene in those algorithms.

Forget the market.  It has no further value to you.

Thu, 01/27/2011 - 09:49 | 908997 Pee Wee
Pee Wee's picture

What, no NFLX?

Thu, 01/27/2011 - 10:43 | 909187 sushi
sushi's picture

One of the reasons for invoking Rule 48 was to give time to install larger LCD panels. NFLX is heading for the moon and they need the larger display area to capture the jump. Where NFLX goes the rest of the market is sure to follow.

Thu, 01/27/2011 - 09:50 | 909009 Michael
Michael's picture

Epic Fail.

Liesman looked like his dog died.

Thu, 01/27/2011 - 10:29 | 909142 Hephasteus
Hephasteus's picture

Unemployment cackles.... I'll kill you and your little dog tooo!!!

Thu, 01/27/2011 - 10:25 | 909133 Eric The Red
Eric The Red's picture

Another round of drinks in Davos!

Thu, 01/27/2011 - 11:31 | 909336 DaBernank
DaBernank's picture

+ 1 Dirty Martini

Thu, 01/27/2011 - 11:12 | 909279 Pez
Pez's picture

I would say construction is going way, way up, in the snow effected states as the homeless are now building igloos.

Thu, 01/27/2011 - 11:20 | 909304 Caviar Emptor
Caviar Emptor's picture


Thu, 01/27/2011 - 09:31 | 908920 Ben Probanke
Ben Probanke's picture

it's due the snow of course

Thu, 01/27/2011 - 09:36 | 908943 101 years and c...
101 years and counting's picture

that is the excuse.  too funny.

isn't that why the numbers are seasonally fudged?

this is the first winter in history where snow has fallen more than once.


Thu, 01/27/2011 - 09:44 | 908962 LMAO
LMAO's picture

WTF....snow ?!

Shouldn't this mean, More people employed. . . .

Clearing roads, runways, railroads, deicing planes, etc.


Thu, 01/27/2011 - 10:15 | 909107 NotApplicable
NotApplicable's picture

It's the Great American Snowjob.

Thu, 01/27/2011 - 10:59 | 909229 Pez
Pez's picture

Nope, All done by crews staffed 67% so that we can make bigger prof.....er..um ....so we can save the company in this economic downturn. Yeah that's it.

Thu, 01/27/2011 - 12:47 | 909531 A Nanny Moose
A Nanny Moose's picture

White. Powdery. Yep "snow."

Thu, 01/27/2011 - 09:45 | 908980 Ludwig Van
Ludwig Van's picture


Yahoo headline: Requests for unemployment benefits up due to snow

Blame the bad weather on Waddell & Reed


Thu, 01/27/2011 - 09:52 | 909015 NOTW777
NOTW777's picture

yahoo - part of the obama news network w/ AP, Reuters & Bloomberg

Thu, 01/27/2011 - 11:05 | 909251 whatz that smell
whatz that smell's picture

Requests for unemployment benefits up due to snow...


HFT parse headline: (Requests for un)employment (benefits)up  (due to)snow.   

weighting: (.00000001(employment) + .0000001(up)) + 666666(snow) = DOW 36,000



Thu, 01/27/2011 - 13:46 | 909754 midtowng
midtowng's picture

The numbers actually aren't that bad. This one of those extremely rare instances when the seasonal adjustment significantly increased the number. I think it only happens in January. The non-seasonally adjusted number wasn't that bad.

Thu, 01/27/2011 - 09:35 | 908923 papaswamp
papaswamp's picture

Durable goods missed big time too..... -2.5% vs expectations of +1.5%

Thu, 01/27/2011 - 10:56 | 909216 Cheesy Bastard
Cheesy Bastard's picture

And check out this Yahoo headline:

Durable goods orders outside of aircraft post gain


Thu, 01/27/2011 - 09:32 | 908924 HoofHearted
HoofHearted's picture

Just wait for the revision next week! This is what they are admitting.

Thu, 01/27/2011 - 09:33 | 908929 The Talmud Kid
The Talmud Kid's picture

steve LIESman says it due to the snow.

Nothing to worry about.

Should be good for AMZN, no?


Thu, 01/27/2011 - 09:33 | 908930 scratch_and_sniff
scratch_and_sniff's picture

WTF, where's Sputnik?

Thu, 01/27/2011 - 09:39 | 908958 Hephasteus
Hephasteus's picture

Green shoots eazing 2.0 expectations management class.

"His name is, uh... Richard Starkey. From Maine. He has a saying. 'Things are getting better, getting better all the time.' "


Thu, 01/27/2011 - 14:55 | 910035 Vacca
Vacca's picture

I doubt there will be any postmen left after the dust settles.

Thu, 01/27/2011 - 09:45 | 908981 HelluvaEngineer
HelluvaEngineer's picture

The Sputnik moment has been delayed.  We've decided to have a Tiananmen Square moment first.

Thu, 01/27/2011 - 09:50 | 909004 The Limerick King
The Limerick King's picture

Too funny!!!

Thu, 01/27/2011 - 13:38 | 909720 CH1
CH1's picture


Thu, 01/27/2011 - 09:34 | 908935 Ben Probanke
Ben Probanke's picture

snowing in egypt?

Thu, 01/27/2011 - 09:45 | 908973 assumptionblindness
assumptionblindness's picture


Judging by the size of the drop over the last couple of days that blizzard must have been a real doozy!

Thu, 01/27/2011 - 11:05 | 909250 Pez
Pez's picture

Remember they're looking at "snowfall futures". So expect what ever excuse is needed at the moment.

Thu, 01/27/2011 - 09:35 | 908936 NOTW777
NOTW777's picture

look @ durable #s

fraud is leaking

Thu, 01/27/2011 - 09:53 | 909020 youngman
youngman's picture

And then look at the Baltic dry index......hmmm....things are slowing down....at least internationally....but Cat and Deere will be doing well as the world constructs......not the western world.....

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