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JPM Reports Global Economic Growth Slowest Since August 2009
And another piece of new you will not see discussed anywhere. According to the JPMorgan Global Manufacturing & Services PMI, not only did the growth of the global economy slow "sharply" in August, it grew at the slowest pace since August 2009. "April saw growth of the global economy ease sharply for the second successive month to its weakest pace since the recovery began in August 2009. The weaker rate of expansion mainly reflected a significant cooling of business activity growth in the US non-manufacturing sector and further steep contractions in output at both Japanese manufacturers and service providers. The JPMorgan Global All-Industry Output Index plunged to 51.8, well below February's near five-year peak of 59.1. Growth eased in both the global manufacturing and service sectors. The extent of the slowdown in services was especially marked, with the rate of expansion the lowest during the current 21-month period of increase. Growth of manufacturing output fared better, but stillslipped to its weakest pace since last September." But yes, McDonalds hiring 62k people, and some statistical jiggering by the BLS as ever more full-time jobs are converted to part-time is surely a major inflection point in the undecoupling theme.
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Meaning QE3 is assured so bullish for shares
"Despite headwinds from high energy prices and disruptions from the disaster in Japan, the last three months of private job gains have been the strongest in five years," said Austan Goolsbee, chairman of President Barack Obama's Council of Economic Advisers.
The underground economy is thriving.........why dont they report on that?........ fuck playing by the rules.....if large corporations and mega banks dont play by the rules, why should anyone else?
every day
http://www.ft.com/cms/s/0/6cbe8850-77ca-11e0-ab46-00144feabdc0.html#axzz1LaRVs7dH
May 6 2011
Indonesia’s central bank ordered Citigroup on Friday to stop offering premium banking services to new clients for one year and issuing credit cards for two years.
Citi has also been investigated over the death of a credit card holder who was being questioned by three debt collectors in one of its downtown Jakarta offices.
That case has prompted a ban on the use of external debt collectors
Nice Handle Life.
And it is much th esame here in India. "debt Collectors" are usually petty criminals who are not above using a fist, a bat or even a gun to collect. Quite notorious. And such the ugly face of capitalism in the developing world, where they take the worst of what is and mix it with their brew and serve it... OR ELSE!!!
And jobs wise 9or unwise) there is a boom in Indian jobs, but mostly in a) Food/Pizza/Burger delivery b) General retail c) Call centers d) Gymnasium attendents e) Beauty Parlour (Hah!) workers...
Two highly experienced and awesome software professionals, who just moved to "Boomtown Bangalore" cannot find mid-high management positions with all the contacts and credentials in the world.
The whole thing is a stinkpile of lies and bigger lies.
ORI
http://aadivaahan.wordpress.com/2011/04/24/phase-shift/
Couldn't agree more. But you forgot the biggest rule breakers of them all: politicians. Though you probably just took it for granted we all knew that.
Who gives a fuck what they report? They want you in the market to rape you every day in coordinated moves manipulating the market. All the banks will report PERFECT trading records. I doubt anyone here can. I doubt anyone here has a direct line to Treasury and the FED. Starve the fucking beast. Get out of this rigged casino NOW. Buy PM's, put them in a safe place and give them the finger.
Robotrader and HamyWanger can...
Ooops, I forgot, my bad
I agree we're suckered into the markets. What else are you gonna do when interest rates on savings accounts are .25 fucking %?
The cartel prints money for themselves, invests it in certain markets, and gets others to jump on the ship. Then, the fat finger insiders come along and pocket all the money for themselves, selling like crazy before anyone else can react. Then they buy the dips.
This isn't capitalism.
Brother taraxias, I think the point you just made deserves further emphasis. What we call "investing" is really not anything more than legalized gambling. If you choose to enter a casino where you know that the odds will always favor the house, why would you complain when you lose?
The only market I play anymore is the supermarket...that can of corn I bought for $.50 at WallyWorld last December now retails for $.82...that's over 60% ROI...and that "gold" I can eat.
Folks had better focus on preserving their health before preserving their wealth.
The Baltic Dry Index is probably the best indicator for the health of the Global Economy. Its still in the doldrums, between 80% and 90% down from its 2008 peak.
Yep, and how is the world leveraged compared to 2008...
...send lawyer, guns, and money.
Hang the bankers bitchezz and the Politicians and things might change
I am officially insane. I keep listening to all this "bad" news and going short stocks only to have my head handed to me everytime.
$5 Trillion in Debt and $2.6 Trillion in Fed balance sheet are impossible to fight. And it will not end until the bond market stops buying the debt from treasury, bankrupt countries and bankrupt states.
Fuck me.
5 trillion in debt?
LULZ.
Take your pick: David M. Walker (former comptroller general of U.S. says 56 trillion, but Laurence Kotlikoff says 202 trillion. Either case is baaaad).
U.S. Is Bankrupt and We Don't Even Know It: Laurence KotlikoffThe interest component on our debt, alone, will soon be more than our total debt was back in the early 80s - and that assumes even that interest rates on treasuries stay as low as they do now (which they won't forever).
I agree. I was just talking about the increase to the actual debt (not entitlements) over the last two years.
How long can it last. I guess Japan shows it can last a long time.
Obviously, I have no clue how to make money off it.
Yeah Yeah buy silver and gold, but as we just saw they can crush those markets whenever they wish.
How does it end??
They cant crush them to zero, and thats where everything else will end.
Yup, pretty sure that the problem is faulty assumptions. If you believe that a destruction of the US economy implies lower stock and commodity prices then you may not be considering the overall effect.
I used to believe the same as you. Now I am on the side that believes that the more things are destroyed, the more there will be actions to counteract the perception of destruction. However the goals of the counteraction will be to replace certain, but not all effects of the destruction. Those things that will be replaced are those things that are important to those in power... and their goal is to enhance their power.
One example of this in action is that when a company or nation fails to create sufficient value organically, the substitute for value/growth will be increased fiat money supply/debt. The underlying value has not changed, but there is a perception of wealth due to more money and higher prices.
OR --
When a woman perceives herself to not possess sufficient beauty she will enhance that beauty with make-up jewels and possibly surgery ... it does not fundamentally change the way she looks in the morning when you wake up next to her, but the illusion is pleasant while it lasted.
OR --
When a politician perceives himself as not attracting the right kind of attention because he is fundamentally self serving, he will create a media persona that is generous, strong and likeable. He is perceived then differently, but he has not fundamentally changed.
In my view it is all the same thing. The effect of the stock market going up is pancake make-up or a perfectly written teleprompter speech, but it does not fundamentally change the underlying assets, only how people perceive their value.
Welcome to the show ... sit back, grab some popcorn and watch them dance.
sad day when a BK nation running a ponzi has to celebrate a few McDs jobs
William 'Let Them Eat iPad2' Dudley is out talking about how great payroll data, shrinking trade deficit (ex-oil), and other economic data is -
- Hace este medio allí será ninguna QE3, Senor 'iPad2' Dudley?
Meanwhile, SBUX, LTD, ANF, etc. are rocketing and hitting new highs today.
And the poor gold fund managers like John Hathaway are probably wishing they had never been born. No wonder that guy squeals like a pig when he speaks.
Or at least, if they are lucky enough to be re-incarnated, they will most likely sign up as tech stock fund managers or consumer discretionary fund managers.
And as for Dan Norcini's much-maligned "Ratio Traders", never before in history has so much money been made so fast.
Well, except for that guy who did the SLV put trade.
RoboTroll, I don't even bother reading your posts anymore. I just scroll to the bottom and automatically junk you out of principle.
Some of us have lobbied ZH for an ignore button. It never comes. ZH apparently thinks Robot performs some function of value here.
that is not democratic. Its not republican. It sounds despotic. It must be a knee jerk from a guy who has only one knee and two jerks per second. Spastic...change your tarama salad please...
Meanwhile, youre still a rear-view pumping idiot.
MSM must not allow this data to hit the airwaves...
MSM must delude the people and pump the markets...
MSM must get Obumble re-elected...
Fuck all that shit, my biggest concern is that Tyler makes these posts that have typos in them ("August" for "April" in this one, besides some others). Dude, my world is falling apart. As an ex-English major, please have some pity on me and re-read your posts for typos BEFORE you post them. It would allow me to at least believe that I can have faith in something in this crazy world!
If the NYA closes for the week over the 11-day and 22-day EMA, the bears are in huge trouble.
Bears? What bears? Name one.
I contemplate a parallel dimension where the economy does not need constant growth to infinite. It seems possible to me.
The pipelines are stuffed, the stimulus money has dried up and the fat lady is on stage preparing for her grand performance. Look at where all those trillions of dollars has gotton us? Nowhere...So now what? Our children have taken on an additional 5+ Trillion in National debt, Housing has lost an additional 6 trillion, the FED has added another 3 Trillion to the ponzi, all the toxic crap that caused the crisis is still out there buried in other asset columns on the CRONIES spread sheets and unemployment has gone higher if you look at the real numbers and the hours worked. Just remember that 70% of our GDP relys on the consumer, so to what extreme do you go to keep the lemmings spending? The mask is coming off and the true identity of the beast is starting to reveal itself. The rest of the globe, except for a few other bankrupt allies have begun cutting their ties with America. They realize that if they don't get away from the Dollar and Wall St. they will end up bankrupt too. How anybody thinks this will end well is mind boggling to me, our greed, lies and manipulation is only going to make things worse in the end...
Come to my island. We will solve all of your problems in less than one hour with approx. 16 minutes of commerical interruptions.
And yet they made over 100 million per day trading. WTF? The financial sector of the economy (which adds no real value) continues to be a cancer the the broader sectors of the economy (that actually make products of real value) can not support. Crash the fucking system already. The sooner we do, the sooner compensation will find its way to people who are actually worth a shit.
its raining bulls from chicago, chicago, my home town... sorry for the chicago helmeted lot!
JPM (AKA) The MUNSTERS. Sadly, that report has some merit.
How many angels can dance on the head of a pin and how many banksters can dance at the end of a rope?
Monsanto – Genetically Engineered Vegetables: The Future of Food-Part 1
http://www.youtube.com/watch?v=vi1FTCzDSck
Corporations controlling your Food intake!
Corporations who spread the genetically altered Patented pollen in the breeze, then sue anyone who’s crops are polluted. If the wind blows and you live next door to a guy who has the patented seed stock, you will be sued for theft.. a great many cases have already been filed.
Not to mention " GEOENGINEERING". You know all those planes everyday that make the criss cross patterns across the skies with their chemtrails. They say its to manipulate weather patterns and a way to control global warming however the aluminum and other toxic materials are starting to have an impact on the ability to grow organic foods. And of course MONSANTO has the seeds and the ability to grow foods under the new ph conditions of the soils. The FASCISTS are now taking away our ability to grow our own food and poisoning us while they're doing it. If you think this is a conspiracy then just use your own eyes and decide for yourself... Take the time to watch the skies and witness for yourself what they are doing. Also for those who care this documentary is long but is worth watching to further understand where they are going with this. Wonder why the word MONSANTO is spoken in every other sentence on CNBC? Its because Wall St. and the rest of the criminals are currently preparing to control everything you eat...
http://www.youtube.com/watch?v=jf0khstYDLA
But didn't we just have a great jobs number... things are getting better ... seriously... where is that flagwaving dollar bull to explain this all to us... ?
Nice little frontrunning for the QE 3 brigrade.
Tyler, there's a typo in your post.
You say " not only did the growth of the global economy slow sharply in August". That should read "in April", not August. Thx.