- advertisements -
Well.. that is it... just gonna grab my popcorn, sit on my confortable couch and watch the double dip in 3D..
here are some good 3D movies to buy: http://www.pussy.org/3d-videos/
Since EUC2008 hasn't been renewed by congress that number is plummeting as people fall off the back-end of the support cart. SNAP participation numbers will probably accelerate. Just plain ugly. I expect the workforce numbers to shrink and NILF to increase substantially for June.
Also, I wonder what this number will be revised upwards to, next report?
Between the use of "unexpectedly" and the constant, one-way, upward revision of numbers I am beginning to suspect something is going on...
Can we stop all discussion that we have avoided a double dip already?
Can we stop all discussion that we have avoided a double dip already?
I don't know. Maybe Leo will say that he needs sometime to analyze the numbers and before he comes back to "man up" and then he'll just starting posting bulltard crap again. Seriously, Leo is apparently more bullish than Cramer.
Also, im just waiting for new highs on the ES. Whatever, give it till noon when all we see is green in the EU markets, add on top a Spanish bond auction which priced fine, and more green sharts are on their way:)
I hadn't seen the results of the spanish offering. It's interesting(?) to see that it went off well.
3 Bil EUR raised at 4.91%...I think.
4.88% ive read. Spread between 10yr bunds and Spanish dropped to 2.16%
Greek Shoots! (hat tip to john_connor)
Hey it's Thursday what time is the riot in Greece.
I'd say the news so bad that we should climb at least 2% today.
For those who have been hoping, praying, who've been expending psychic energy to will the economy better, these numbers are deep psychological blows. Deep deep blows. For many, the only way to deal with a world that in their own minds has turned against them, despite their undying love and belief, is to continue to wave the pom poms. What comes later is either a breakdown into depression or an almost manic expression of optimism. Or as you said "bulltard" crap. This has little to do with reality, or at least the reality shared by the consensus, and more to do with their internally created reality.
Remember when the employment numbers were terrible if you backed out the Census and Leo declared he was going to study them and get back to us? We can't seriously think that Leo looked at that report with unbiased eyes. He was searching for information that confirmed his bias, his belief. And sure enough, when he posted an article the next day, it was focused mainly on the scraps that could be seen from a "positive" light.
And he even "agreed" that some of the numbers were bad, but they would change; his way of bargaining with the truth before rejecting it. See, I can admit everything isn't coming up roses. Now leave me alone to tend to my rose garden. The acceptance of alternative realities (meaning those that don't confirm our bias) has nothing to do with the "truth" or "evidence" or "proof" and everything to do with the internal barriers we erect to shield us from things we don't wish to face.
Your posts make a lot more sense after 1- researching the topic of C D and 2- reading your Insane Asylum article. Cheers.
Uber bludgeoning blow capitulation and towel throwing.
Leo has discovered that very few people are interested in the blue pills he is dispensing when they are told that the pills aren't Viagra.
Cialis > Viagra > blue pills
The data keep reflecting the reality that normal people see in the world around them. Will the market in turn do the same?
Also, seems like there are two economies emerging: one based on people who have mortgages, consumer debt, unemployed spouses, falling wages, aging capital goods, crappy and expensive healthcare, dwindling savings, and on and on.
And another economy of corporate entities that, because of restructuring of debt and heavy layoffs, etc., appears healthy to shallow analysts and commentators who think healthy corporate balance sheets (for now) mean a healthy overall economy and a nascent bull market brewing.
Too bad these healthy corporations will have no one to sell to.
What you're really asking is how long can they keep a corpse alive. The answer is remarkably long, especially when most people desperately wish for a Weekend at Bernie's.
DAMN IT! Read my lips -- There is NO Double Dip since we never honestly exited the Single Dip. In fact, we went from a recession into a refusal-to-admit DEPRESSION!
Leave this Double Dip crap on the bullshit financial channels/media.
The stages Kubler-Ross identified are:
Love the way Texans cut thru the BS.
Looks like Barney just spotted a bent over taxpayer.
That Bwaney Fwank is one sick SOB. Looks like Dobbs just walked up on him while he was exposing himself to a male page.
...thanks for the laugh!..
Na Dodd just finished blowing em.
wow, this is just rife with possibilities - think we need a ZH-sponsored caption contest
" U.S. first-time jobless claims unexpectedly rise, up 12,000 to 472,000 in latest week "
Notice how the MSM reports bad housing numbers as "unexpected". LOL.
My dyslexia causes me to refer to this as the
"The Double Rip Depression"
So, what is the bullish argument again? Really, I mean it. Why exactly are stocks rallying? Can anyone answer this without some technical BS (oversold, 220dma breakthrough, etc.). What's the actual fundamental logic for the equity bulls right now?
Ask yourself, "what would the devil do in this situation?" ~ answer: Raise it up high before slamming it to the ground in delight
like a hell gull
carrying the clam of humanity
higher and higher
above the parking lot
To me, it looks like everyone on Tim Geithner's speed dial list got another $100 billion dollars on Monday to buy up the market as they see fit...
"What's the actual fundamental logic for the equity bulls right now?"
Manufacturing - the inventory bounce from last year is still present. Oops, wait a sec ... ignore that recent data. And that. And that one.
Oh no. Less people working = longer lines at the Apple stores. This is one of my current bits of sage investment advice. Along with more oil in storage = higher oil prices; more Treasury issuance = cheaper long-term rates (down to 3% says Shilling!); housing prices continuing their descent = higher XHB; Europe slowing down = stronger EUR. I think you get the idea. Or the lack of idea. You see there is so much money out there it just GOES and GOES and GOES into anything and everything.
Edna, you forgot to use the word Printed in your description of the money being out there. :-)
@ Edna R. Rider
The Euro will shoot up against the USD as people realize the US is in far worse shape than Europe. (aka we're fucked).
Bonus...BDI crossed under the 3000 mark and weekly rail indicators are strating to turn red (food and forestry products)....here comes the big slowdown.
The collapse in the BDI signaled the last market crash, and yet many are not even paying attention to it at all. If there no ships on the water, there are no products being delivered. Doesn't take a rocket scientist to figure that out.
the numbers were perfect for the....[cough]..."markets"!!
hip hip hooray the "markets" will rally more! what sucks is actually great!
all aboard the HMS MADOFF stock market rally provided to us courtesy of central bank commissars from hell
Remember this rule for hyperinflation: She will be knocking on the door soon.
Governments will often try to disguise the true rate of inflation through a variety of techniques. These can include the following:
Interesting, jkr, and chilling. Happening already, right?
Let's see...lost M3 reporting in '06 - check. Price / wage controls - not yet unless you count those on the govt dole. Does substitution of dog food as steak count as "adjusting" in the CPI?
If a statistic comes from the government I just don't have a lot of confidence in it. You have to ask yourself all those "W" questions about who, what, where, when and why, and generally by that time you've figured out that the statistics aren't true.
I have a small book from college that I'll refer to here, "How to lie with Statistics." I'm sure the BLS passes these out to all new hires.
This is just the beginning. The state worker implosion is set to begin in July when many states begin FY11 budgets.
We are staring at the next round of crisis, folks. It's only a matter of time.
All is on schedule, though... the Fed rides to the rescue with even more wasteful QE, sometime around September.
You know, so those incumbents can be re-elected.
Tips: tips [ at ] zerohedge.com
General: info [ at ] zerohedge.com
Legal: legal [ at ] zerohedge.com
Advertising: ads [ at ] zerohedge.com
Abuse/Complaints: abuse [ at ] zerohedge.com
Advertise With Us
Make sure to read our "How To [Read/Tip Off] Zero Hedge Without Attracting The Interest Of [Human Resources/The Treasury/Black Helicopters]" Guide
How to report offensive comments
Notice on Racial Discrimination.