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Leading Indicators Come As Expected 0.3%, Prior Revised Lower To Erase Previous "Beat"
The CONference Board announced its Leading Indicators increased 0.3 percent in September to 110. This was in line with expectations. What was also in line with expectations is the ongoing revisionist lie that has permeated every single government statistic: the August number was lowered from 0.3% to 0.1%. Of course, at the time it was a beat to the consensus estimate of 0.1% and likely resulted in an other mad rush to cover stocks. Now that it has been fully priced in, the true number can be revealed. And so continues the Chinization of the US economic release complex. As the AP noted: "The index had grown steeply since April 2009 on the strength of the stock market, record-low interest rates and a rebound in manufacturing. But the rate of expansion tapered off this summer as U.S. economic growth slowed." One wonders just how deplorable the state of the economy would be if the truth were actually released.
Below is a gratuitous chart full of irrelevant data from the Conference Board:
Full release here
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LMFAO, 10 fucking handles on the SPX. Went completely vertical.
Classic.
UK is to debase coinage again
AP:
Even coins have fallen prey to spending cuts, with cheaper metal to be used in their production from next year, it was disclosed.
The Royal Mint will produce cheaper versions of 5p and 10p coins from January and put them into circulation in April, in a move that should save £10 million a year.
http://www.google.com/hostednews/ukpress/article/ALeqM5jxK8-ueNjOtLWlqBN...
You are lucky to still have coins made of metal, soon we will all have Bank of the World credit/debit chips implanted in the back of our hands at birth.
Aha, the "Mark of the BIS Beast".
RISK ON BEEEEEAAAAAAAAAOOOOOTTTTTCHHHHHEEEEZZZZZ
Im beginning to suspect these "down days" are solely to tame gold because here we are once again Dow,SP at new levels and Gold nowhere near 1380 when it should have been busting through 1400
Be glad they are still doing revisions. Soon there may be no revisions, only a number some Conference Board manager pulls out of his ass. Fraud and lies will become the norm not the exception.
The GDP number for this quarter should be near zero, but we will see something near 2.0% growth beating all expectations. Thirty days later it will be revised down to 1.2%, then three months later .5% and a year later -.25 for 3Q 2010. This is how the "game" is played. Look at the "track record" for GDP "estimates" vs. revised numbers. The whole system of government statistics is a scam designed to protect the bubble economy.
Do you know of any sites that publish these initial figures followed by 'revisions'? It'd be interesting to see the manipulation presented in a table or graph.
You can learn quite a bit here:
http://www.consumerindexes.com/history.html
Read their commentaries about GDP revisions and you will see how the numbers are cooked.
Plus, John Williams at Shadowstats often has some great information on .gov statistics.
http://www.shadowstats.com/
Welcome to the newest Bubble, thanks to the perpetual bubble blower ZimBen and the Inkjets
And the new shot of adrenaline flowing into the market players (oops govt sponsored VIPs). DJI set to break April highs. :-(
Nic, please don't take a resolution today to shoot yourself if markets end in green (super green) today. We will need you post elections when markets might behave naturally and technicals hold some value. :-)
Gentlemen, welcome to the recovery...I think AAPL can power our economy to new highs and beyond.
It is helping China where the "Apple" factory employs 200,000 Chinese workers. Of course they have a small suicide problem that they have to deal with there, but otherwise the iworkers are happy.
A closer look at these numbers will show that sans the "yield curve spread" this number would have been negative. What does the conference board chief economist have to say?
Economic risks remain firmly tilted downward
Even the chief economist does not believe in the monthly numbers.
Yes.........but the conditioned mind has been trained to listen to, and sometimes believe, what the MSM tells them is real, then get back on the hamster wheel. Even when the conditioned mind doesn't "believe" the numbers, the conditioned mind will still act in a conditioned manner. As long as the TV still works and the some of the bills are paid, the conditioned mind has been trained to always consider that the numbers just might be plausible, thus there is still time to "do" something later. Thus the conditioned mind is the first can kicker among a nation of can kickers.
The biggest mistake I find made among those both here on ZH and on other more aware web sites is the assumption that the stuff we consider "obvious" is recognized as obvious to the conditioned mind, particularly to those minds who don't consider themselves conditioned. That means 100% of them, including all those who visit ZH. We are all conditioned in one form or another. And the ultimate conditioning is done by the ego, which tells us we are not conditioned.
What ever happened to the ratio of the coincident to lagging indicators?
LOL. Why do we have economic reports anyway? They don't mean anything? It's also amazing that they are revised down constantly. I'd like to ask those who think conspiracy theorists are quacks. Can you tell me why these reports are constantly revised down? CONSTANTLY.
Thats right, on a long enough timeline, the survival rate for everyone and everything drops to zero.
There will be a very rude awakening for the 'risk on' crowd one morning real soon.
Lets take a poll, what highs would markets make before the elections?
S&P
a) > 1200
b) > 1250
c) > 1300
d) > 2000 (If $ is debased efficiently, this is very much possible)
Theyre walking a tightrope, the market pumping is just pissing people off, and they cant let the garbage drop as that would cause panic, cant pump the imaginary markets too much or that would cause too much anger.
I believe for the next couple weeks it will be fairly mild either way ending up about where we are now, up maybe 2% more by election day.
After that, the wheels fly off to greet the new republicrat clowns with chaos and bedlam at suddenly very horrible news someone just discovered.
I wish u r rite. But, I somehow think that it might be really worse.
Coz, all have been expecting markets to be correcting even from 1100 levels. I have been reading Nic's nice articles believing this is the right moment. 1150-60 seemed to be the top and now 1200 is no far. I think they have the might to take it all te way.
And with reports being fudged, who knows if they can fudge the election results too in the same capacity. And then the game continues till next election. ;-)
Well then americans deserve what they get, slavery and living at the whim of some govt employee with a 90 IQ tops. Whatever, I dont really care, I'm laughing at the stupid dumbed down farm animal americans. Even a chicken fights for its life, americans wont.
Good news i good news and bad news is very good news...
These markets are fun. It would have been more fun for me if I had rothchild's money to play in here. :-)
When will we ever stop this silly game of lies and trickery and will the ignorant zombies that are American citizens break out of the corral of stupidity and be led to understand the horrific nature of what this fascist country has become? Where is that leader to make it right. I get sick and tired of all this back and forth bullshit while I watch and listen to people suffering and struggling beyond belief. How are we different then a Nazi led Facisist Germany other then ethnic cleansing yet to occur albeit except for the good Muslims of this world who have not yet been illegally detained and tortured. When will the backbone of America finally show some guts and rid this country of our current system of fradulent government and fradulent corporations. I am afraid it will never happen and all of you who do nothing but complain will continue to sit back and watch your lives taken over by by these black boots and you won't even know it. Fascism is government run by corporate wealth and power. Is Obama any different then Hitler? Stop writing and start doing. Otherwise your lack of effort tells me that this country is not worth saving.
In its present state, the USA and its people are beyond pathetic and NOT worth saving. I hope daily for a natural disaster, giant east coast earthquake swallows Manhattan and DC...learn to swim. I look around the country and hate it, no redeeming qualities can be found in its stupid selfish greedy people.
I cheer for armageddon.
BankerBob I was talking to a trucker last nite who was complaining about his increased work load and dwindling pay, going on about how hes sick of this govt.
I said he should get a bunch of truckers together and park their semis and the DC beltway and around NYC, shut the place down for days.
What was his reply?- NAH we cant do that we need our paychecks.
Case closed, USA finished.
SheepDog-One I appreciate your comments and what the trucker was saying. Well if enough people were courageous enough to stop paying the big banks and anyone else except for those that provide basic human services then maybe we can begin the process of bringing this country to its knees as there is where it must be brought to so it can learn to stand again with the hard working people of this country meaning more then just serfs. Otherwise let's return to slavery and say that the corporations and our government are our masters and we will be indebted as serfs for the rest of our lives.
As only George could explain:
http://www.youtube.com/watch?v=acLW1vFO-2Q
The backbone of American is wearing a propaganda straight-jacket provided by the media and the globalist cabal.
Perception is reality until the reality can no longer be hidden from those who perceive. As long as the public chooses to believe their conditioning that there is reasonable doubt as to how these economic numbers are created or interpreted, people will gratefully take the softer easier way of going with the flow and avoiding resistance.
After all, who really wants to push against their tormentor when it's so much easier to hide under your bed until the storm has passed? Even if that means you're poorer immediately after.
"Perception is reality until the reality can no longer be hidden from those who perceive."
That's bloody brilliant.
If you take the structure of this poetic sentence (an inverted repeat, or chiasmus) you can predict what will happen to "the market" when reality, in fact, can no longer be hidden from those who perceive.
Hint: it looks like an upside down V.
But....all the economic data came in pretty much as expected. Even revisions point to what I keep saying: very slow, sluggish plodding along. Nothing falling off a cliff, nothing shooting to the moon. Just a slog.
This cant be called 3 Card Monty because they are using the Mechanics Grip on the whole deck of Govt numbers.
Thanks for taking the time to discuss this, I feel strongly about it and love learning more on this topic.
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