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LOWEST NUMBER SINCE MARCH 2009!
Hope and Change! Yes We Can!
Thanks be to the Messiah that gas jumped 10 cents overnight here locally.
It jumped .18 cents per gallon here overnight.
Don't tell Robotrader though. It was just yesterday or the day before he was on a thread proclaiming the greatness of continuing downtrend in prices at the pump in LA.
Missed it by >that< much......again.
Are we sensing a trend yet?
Yes, his allowance goes further if it doesn't cost so much to fill the tank on the moped...
"Consumer Sentiment Lowest in Years, Markets Rally."
it wa all a typo and mass hearing deficits..
it was "Chains" not "change"...yes we can and here they be.
Of course gas prices went up. Commodities and equities are joined at the hip right now.
Obama is an idiot and a terrible President in every way imaginable, but he's not responsible for the spike in oil prices. That's predominently helicopter Ben and manipulation by numerous large entities like JPM.
Methinks wars in Libya don't help.
Libya's effect is far, far, far overstated. There is not a shortage of oil in the market. Their are tankers full of the stuff hanging around. JPM is literally going to buy much of the IEA release to put in tankers to sell later. It's all a manipulated market. CNBC and other MSM are full of it that the price has anything at all to do with fundamentals.
Cold comfort in January when I'll be paying $4.79/gal + for heating oil. When do we launch a kinetic non-war military action against [INSERT SOUTHWEST ASIAN/AFRICAN OIL PRODUCER COUNTRY NAME HERE]???
The price of oil is not going up. It's going up in fiat currencies...it's going down in real currencies.
It's not a supply/demand problem of the commodity, it's a supply, supply, supply, supply, supply some more problem with money. The only thing holding back financial armageddon is the manufactured incentive for the banks not to lend the money. If the money velocity dyke breaks, run for cover.
Unusually unusual sentiment
Transitory?...? curiouser and curiouser.
Yes, but that's normal.
Folks are getting sentimental over barbarous relics: Au = $1594.10, Ag = $39.37
On top of everything else, Spain and Italy are leaking wider....
Spain under heavy pressure now. 10yr yield up 15 bps outright @ 6,05%. Maybe the story abt Castilla La Mancha is adding some fears abt the rest of the country. Here's the story:
July 15 (Bloomberg) -- Spain’s Castilla-La Mancha first-half budget deficit was close to 6 percent of its gross domesticproduct, Expansion reported, citing unidentified people in theregional government. The deficit amounts to almost 2 billion euros ($2.8billion), Expansion said. The Spanish government set a maximumdeficit target of 1.3 percent GDP for the country’s regions forthis year, Expansion said. Castilla-La Mancha also has about 1.7 billion euros ofpending bills, compared with the 700 million euros that weredisclosed by the previous regional administration, Expansionsaid. No one was available to comment at the regional president’soffice when contacted by Bloomberg News.
Must be priced in, or transitory. Perhaps a patch of something soft?
If this market wasn't being bought by the Fed proxies we would be down a thousand points this week.
Our (future) tax dollars at work
At the end of every post there's a link "printer-friendly version". Is that for chairsatan?
He sure likes 'printer friendly version'. Does he also like 'send to a friend'? Speaking for myself, I often would like to send ZH articles, but I do not, due to a lack of friends. Ben is most probably in the same situation...
But .. but .. we said yesterday that *everybody* here is our friend :)
wow..thats a MISS
Yank self reporting gets more accurate? Shocking that not all women are a size 4 and not all dudes are 8 inches.
Yet the gap between the market and the economy continues unabated.
Love looking away for 30 seconds and Nasdq goes up 10 pts.
Yet the gap between the market and the economy continues unabated
Indeed Lizzy. In case you missed it, this was a good story posted on Minyanville today:
"Green shoots" consumer sentiment = "soft patch" consumer sentiment.
when they want the markets lower, they give it an excuse to fall. too bad all bulls are levered up the ass and are fighting their balls off to keep the markets levitating way up here. if ben wants lower markets (so he can print more money), he will get them.
The problem is with already skittish 401K bathrobes brigades seeing any meaningful severe market plunge and hitting the sell button to an empty market. I dont believe they can allow a market drop at all, it would make the 'flash crash' day look like nothing as algo bots get pummeled with sell orders and no buyers until WAY lower than Dow 11,000. If at any price.
its possible. debt ceiling vote fails, markets crash. teleprompter in chief blames republicans. ben gets the nod for money printing 3.0 because the masses see their 401k's decimated again. right on script.
There are only 2 market modalities: Ponzi on, and Ponzi off.
<<< debt ceiling vote fails >>>
There are not enough politicians with the guts to vote down a debt ceiling increase. It will get passed in some form.
Our company's "retirement portfolio manager" just got off of the phone with a coworker of mine that is switching her 401K to government debt (flight to dollar "safety" dontcha know). She was told that their phones are slammed with other 401K holders doing the same thing. Out of the pan and into the fire of course, but I think the people smell blood in the water right now too.
As for me, I am 100% physical PMs - not talking about earning my redwings with my wife either.
Indeed sheepdog-one. Those Bots are like the animated brooms in Disney's Sorcerer's Apprentice. If they all get oriented to SELL, look out below. The equity market is extremely hazardous to trade, like walking across a frozen lake whose ice thickness is unknown, hoping it does not crack.
You really can't trade it short either with confidence, even commodities - lest the IEA do another 60mm (less than one day's worldwide consumption) release.
I'm just buying PM dips from time to time. I barely look at equities, the thing is broken.
Yep, debating about how broken it all is really is a joke, I pay little attention anymore.
Here, you can clearly see why consumer discretionary stocks, many of them, at at ALL TIME HIGHS.
The day "consumers" are left clutching handfulls of worthless currency, unable to purchase any more plastic goods from Wal-Mart, the quicker this country can rebuild its character and direction.
the chart shows a clear downwards trend and it is still time to short Consumer Sentiment, the fundamentials look good.
The fear today: Fat, financially reckless Americans might become skinny, frugal Americans
oh the horror.
That will ruin their day..:
-"Get back up and Shop, you lazy Americans!"
-"But we already dropped!"
QE3 isn't going to be the panecea longs hope for - those bond wolves will come out of the trees at some point. But, until then party on I guess.
Completely unnoticed by the machines. Programers fell asleep on that one.
Ahhh... that promised change. Yes we can feel it now ass wipe.
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