• Sprott Money
    05/06/2016 - 06:03
    The US, in its own decline, is showing this same self-destructive tendency. The worse things get, the greater the inclination of the citizenry to say, “Carry on, everything’s fine.”

May Non-Farm Payrolls 54K, Below Consensus Of 165,000, Unemployment Rate 9.1%

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Fri, 06/03/2011 - 08:30 | 1335217 MisterAmbassador
MisterAmbassador's picture

Santelli called it.  He said 55k 8 seconds before it was announced.

Titanic is sinking.

But this ship can't sink!

She's made of iron, sir...  I assure you, she can.  And, she will.

From this moment, no matter what we do, Titanic will founder.

Fri, 06/03/2011 - 08:38 | 1335234 bonddude
bonddude's picture

Love it. A little Santelli truth one more time. 

Leisman=Queen of the douchebags.

Fri, 06/03/2011 - 08:40 | 1335274 bonddude
bonddude's picture

Santelli bitch slaps Moody's to its economist's (Zandi) face.

Is everyone drinking Kool-Aid?

Meanwhile Moody's is downgrading the world, munis and I guess leaking (H/T Tyler).

Fri, 06/03/2011 - 08:54 | 1335368 Lieutenant Dan
Lieutenant Dan's picture

Looks like we might have seen some intervention in the dollar just then. Anyone else see that? What great economic news!

Hedge Funds: "Flock to bonds! Flock to bonds!"

Fri, 06/03/2011 - 09:22 | 1335500 Cindy_Dies_In_T...
Cindy_Dies_In_The_End's picture

Now wait a minute people. Ignore this news. Obama is touring the nation praising his rescue of the auto industry.

 

Tell these unemployed minions to buy a Chevy volt, damn it!

Fri, 06/03/2011 - 09:46 | 1335665 Hard1
Hard1's picture

Anyway, when the US devolves into an agricultural society non-farm payrolls will become irrelevant.

Fri, 06/03/2011 - 11:34 | 1336159 Problem Is
Problem Is's picture

+5...

Fri, 06/03/2011 - 10:15 | 1335788 trav7777
trav7777's picture

the joke in chief has been having the BLS fix the numbers more aggressively than ever to get headline below 10%.

He's looking at having to face "wtf did you do for 4 years" in 2012

Fri, 06/03/2011 - 10:22 | 1335825 jus_lite_reading
jus_lite_reading's picture

YUP!!! ITS ALL ABOUT PSYChOLOGY

Fri, 06/03/2011 - 11:32 | 1336165 Problem Is
Problem Is's picture

It won't be on Barry Soetoro's radar until it pops up on his teleprompter screen...

Fri, 06/03/2011 - 09:10 | 1335442 holdbuysell
holdbuysell's picture

Did you say munis?

Many states fiscal budgets begin July 1. We should be seeing the visible cracks of those budget plans shortly. But, otherwise, all seems quiet for now.

Fri, 06/03/2011 - 09:24 | 1335540 smlbizman
smlbizman's picture

as they proclaim the decrease in govt.jobs as a good thing, i wonder how many of these people took early retirement with gigantic pensions and buy outs and all other parting gifts....that probably cost us 5X's more than if they stayed employed

Fri, 06/03/2011 - 11:04 | 1336018 dbTX
dbTX's picture

But, otherwise, all seems quiet  for now".

 

The lull before the storm. A number of States are going to crash big time.

Fri, 06/03/2011 - 11:03 | 1336023 bonddude
bonddude's picture

Illinois is cutting like crazy and the state Treasurer doesn't want to issue junk bonds.

Its ON !

Fri, 06/03/2011 - 11:35 | 1336163 Chump
Chump's picture

Chasms, not cracks.  We have a general idea of which States are fucked and how badly, but a lot of munis are including State funds in their budget forecasts that, in many cases, will not be coming.  Crisis just around the next bend.

Fri, 06/03/2011 - 08:41 | 1335278 2DollarBill
2DollarBill's picture

Liesman: "But U-6 went down!"

Fri, 06/03/2011 - 08:39 | 1335282 Henry_Hill
Henry_Hill's picture

we're just in rehab, dont worry guys

Fri, 06/03/2011 - 09:38 | 1335593 smlbizman
smlbizman's picture

is it my imagination or is  joe kernan getting tired of the lies and becoming more realistic, or is he a created counterpoint? 

Fri, 06/03/2011 - 08:33 | 1335247 jkruffin
jkruffin's picture

I said 50k 2 days ago..........posted right here on ZH

Fri, 06/03/2011 - 08:43 | 1335284 Boston
Boston's picture

I said Treasuries rally 1 day ago thru 30 days ago...........posted right here on ZH

Fri, 06/03/2011 - 08:42 | 1335299 TheTmfreak
TheTmfreak's picture

Well it looks like you were 4000 short.  Some prediction you made.... Looks like you need to realign your crystal ball.

/sarc

Fri, 06/03/2011 - 08:47 | 1335339 trav7777
trav7777's picture

yep; disastrous number.

the economy is structurally fucked and so is the government's fiscal position

Fri, 06/03/2011 - 09:16 | 1335486 mtomato2
mtomato2's picture

What does the government's fecal position have to do with it?

Fri, 06/03/2011 - 09:31 | 1335572 TheTmfreak
TheTmfreak's picture

I have a feeling the saying you don't "shit where you eat" fits in here somehow...

Fri, 06/03/2011 - 10:25 | 1335823 Cthonic
Cthonic's picture

Cue the South Park episode with the mouth to perineum surgeries.

Fri, 06/03/2011 - 08:33 | 1335251 SheepDog-One
SheepDog-One's picture

But the economy cant sink, she's made of the most bouyant iron available!

Fri, 06/03/2011 - 08:41 | 1335266 MisterAmbassador
MisterAmbassador's picture

Derivatives contracts?

 

Have a good day, everyone.

Fri, 06/03/2011 - 11:15 | 1336084 Federal Reserf
Federal Reserf's picture

True, we are now at a state where it APPEARS the laws of physics no longer matter. Buoyant iron is only iron because the shills repeatedly state it is.  It really has properties that more closely resemble an eggshell.

The fiat damage control crew is on the problem.  I can already hear Capn' Bernank barking orders, "man the pumps!"   and Timmy shouting "Capn' Ben, we're trying to weld a patch over the largest hole but the buoyant iron keeps cracking... with all due respect, Cap'n is it time to lower the lifeboats (ballasted with gold bars)."

 

"Ship's status has been stabilized and it is listing only 47 degrees. The leaks are only transitory"

Ships log, USS Bernanktic  03 May 2011

Fri, 06/03/2011 - 08:38 | 1335259 BS_Merchant
BS_Merchant's picture

Looks like ADP got this one right.

 

Credit where credit is due.

 

 

Fri, 06/03/2011 - 08:39 | 1335261 Henry_Hill
Henry_Hill's picture

CNBC shouldve gone to him first instead of the panel of economic "experts"

Fri, 06/03/2011 - 08:46 | 1335306 max2205
max2205's picture

Part time workers saying fuck it for the summer, expect more to drop out through august.... hey free house , free summer vacation...shit just like teachers, what a deal, I am in...

Fri, 06/03/2011 - 08:33 | 1335220 firstdivision
firstdivision's picture

QE3 is flying in to the rescue!!  I'm so glad that QE1 and 2 have helped the jobs situation as it was marketed to the public. 

Market flash crashing?

Fri, 06/03/2011 - 08:36 | 1335242 Screwball
Screwball's picture

I thought the tax cuts were suppose to creat jobs. 

Fri, 06/03/2011 - 08:49 | 1335326 firstdivision
firstdivision's picture

Just like Free Trade creates jobs and better relations...and going off of the gold standard will help human innovation...oh and DDT is good for you.

Fri, 06/03/2011 - 08:52 | 1335371 Screwball
Screwball's picture

We Americans just love being lied to don't we.

It would be funny, if it wasn't funny.

Fri, 06/03/2011 - 09:00 | 1335394 Urban Redneck
Urban Redneck's picture

Actually, the link between DDT and cancer is more specious than the link between BLS data and the US economy.

Fri, 06/03/2011 - 09:43 | 1335617 Calmyourself
Calmyourself's picture

UR, exactly right Rachel Carson and her ilk killed more people in the 3rd world than anyone has been able to kill including WW1,2, soon 3 well I should probably hold on that one.

Fri, 06/03/2011 - 11:33 | 1336154 citta vritti
citta vritti's picture

yes, on a par with cellphone radiation as a cancer risk, then again this is from UN’s WHO, so who really knows.

http://www.cnn.com/2011/HEALTH/05/31/who.cell.phones/index.html

To which can be added this from Thank You For Smoking:

http://www.youtube.com/watch?v=THwqPMbI9N8

Fri, 06/03/2011 - 09:41 | 1335633 Shock and Aweful
Shock and Aweful's picture

And...I heard somewhere yesterday that they (the gubmint) is just about ready to push through the latest "free trade" agreement with Colombia and Korea....I shit you not. 

This is just what we need to "fix" the employment issue here in the U.S.

The problem is that withoug a manufacturing base of good-paying jobs, there can really be NO economic recovery.  And since these jobs are gone and most likely will not be coming back....welcome to the "new normal"  (unless of course we can get ourselves into a war that is so big that full employment in the arms industry is needed for our continued survival  (that will be the program announced for QE-5 - war with Asia)

Seriously though...the stupid motherfuckers running the finances of this nation - which is basically the same group, that created the financial mess we are in, and which came to power during the Reagan years, honestly believe that if we are just MORE pure in our "free-trade", "laissez-faire" and "trickle-down" ideology that everything will fix itself.  This is the SAME EXACT arguement that the hard-line soviets in the Politburo made when the USSR was falling apart - "If only we can be more  pure in our ideology...things will magically get better"

Have these people not been living in the same U.S. as I have?  Do they NOT see the implications and effects of this "global free trade" and top-down approach to the economy?   Makes you wonder if they are really this incompetent or if there is a secret, hidden and nefarious agenda behind all of this?   hmmmmmm... I wonder?

 

When people keep doing the same things over and over again....and are surprised that the results are the same....they are usually called insane.  I would argue that our entire nation and it's economic system suffer from some sort of pychotic amnesia....it is either that...or this is a planned weakening for the eventual take-down of the U.S.? 

But who profits from that?  (Hint:  not me or you)

Fri, 06/03/2011 - 10:19 | 1335802 trav7777
trav7777's picture

supranational "free trade" benefits the supranationals.

Everybody should know this by now.  Trade protections were so workers could have decent wages.  Now only those awful socialist nations have them.

Fri, 06/03/2011 - 08:33 | 1335223 John McCloy
John McCloy's picture

All this after 2QEs?
What was the B/D?

Fri, 06/03/2011 - 08:45 | 1335271 AccreditedEYE
AccreditedEYE's picture

+1 LOL  Watch it John, they'll just say they got to go bigger next time... LMAO!!

Fri, 06/03/2011 - 08:33 | 1335224 LRC Fan
LRC Fan's picture

Come on Liesman-explain this one away! Lmaooooooo you fucking douche bag. 

Fri, 06/03/2011 - 08:30 | 1335225 youngman
youngman's picture

Lord Youngman is going to say.....SHIT...Crapola..

Fri, 06/03/2011 - 08:33 | 1335226 dieyoung
dieyoung's picture

bloomberg "watch for 10yr below 3.00%"

 

-___-

Fri, 06/03/2011 - 08:40 | 1335289 Boston
Boston's picture

2.95% ........  and falling

Fri, 06/03/2011 - 08:35 | 1335227 Bartanist
Bartanist's picture

Lol ... and what good will QE3 do without fixing the misallocation of resources?

 That's right, nothing.... or just make things worse.

The Bernank is just following a script that he has been told to follow... and the teleprompter is only an actor filling a role and playing golf.

Fri, 06/03/2011 - 08:37 | 1335272 scatterbrains
scatterbrains's picture

I've always believed the boys behind the bernank will collapse the system when they are made whole enough to come in and pick of the pieces for pennies on the dollar.  Is it time for them to roll out the next phase?

Fri, 06/03/2011 - 08:44 | 1335292 kridkrid
kridkrid's picture

May I ask... who are the people behind the Bernank?  And this isn't a loaded question or anything... but who/what is the cabal exists behind the Fed?

Fri, 06/03/2011 - 08:49 | 1335352 WonderDawg
WonderDawg's picture

That would be the shareholders of the Fed, which are families like the Rockefellers, Lehmans, Morgans, Rothschilds, etc. Take a look here...

http://www.save-a-patriot.org/files/view/whofed.html

They own our money printing machine.

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