• 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.”

NBER Announces US Recession Ended In June 2009, No Announcement Yet On When Depression Is Due To End

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Mon, 09/20/2010 - 10:32 | 591834 vote_libertaria...
vote_libertarian_party's picture

Well that explains todays retarded stock rally...

Mon, 09/20/2010 - 10:42 | 591868 MarketTruth
MarketTruth's picture

And rally on as the PPT/Fed will spike it more once Obummer yaps his trap on TV this afternoon.

The fix is in! Get your Dow 12,000 caps ready.

Obama says, "I, with the help of govenment, have officially nded the recession."

Does he lie? Yes he can!

Mon, 09/20/2010 - 10:55 | 591912 Sucks_to_be_Smart
Sucks_to_be_Smart's picture

How are bankers making record bonuses this year?  Trading revenues are down across the board and IB activity hasn't picked up.  Debt issuance is low and Meredith Whitney is calling for 10% labor force cuts in the industry!

 

Explain!

Mon, 09/20/2010 - 10:58 | 591920 schoolsout
schoolsout's picture

Lack of truth in accounting...

Mon, 09/20/2010 - 11:28 | 592025 MarketTruth
MarketTruth's picture

Amen, in a sense this reminds me of how home values are down and asses so yet yearly taxes to pay on home increases.

The fix is in Boys.

Mon, 09/20/2010 - 11:05 | 591939 curbyourrisk
curbyourrisk's picture

I think it more related to the POMO action this week.

 

Pump baby.......PUMP!!!

Mon, 09/20/2010 - 11:12 | 591969 HelluvaEngineer
HelluvaEngineer's picture

Fuck it.  Let's do QE2 anyway!

Can we get an update on investor sentiment - 99% bullish?

Mon, 09/20/2010 - 10:34 | 591843 Henry Chinaski
Henry Chinaski's picture

My news feed this morning... no explanation necessary:

US Stocks Climb, Led By Homebuilders; S&P Breaks Above 1130
MarketWatch - Kristina Peterson - ‎8 minutes ago‎
NEW YORK (MarketWatch) -- US stocks climbed Monday, led by homebuilders as investors seized on encouraging earnings at the start of a week heavy on housing data and a benchmark index broke above a key technical level.

Homebuilder Confidence in US Held in September at Lowest Level in a Year
Bloomberg - Courtney Schlisserman - ‎11 minutes ago‎
Home sales will be slow to improve as unemployment hovers near 10 percent and foreclosures mount. Photographer: Andrew Harrer/Bloomberg Confidence among US homebuilders in September unexpectedly ...

Mon, 09/20/2010 - 10:38 | 591859 Turd Ferguson
Mon, 09/20/2010 - 11:54 | 591903 Cognitive Dissonance
Cognitive Dissonance's picture

"For we can fly, we can flyyy. Up, up and away in my beautiful, my beautiful balloooooooooooon."

Even the name of the group "The Fifth Dimension" fits so very well.

Mon, 09/20/2010 - 10:42 | 591872 HarryWanger
HarryWanger's picture

I always chuckle at MW headlines. They are just about as bad as CNBC - always looking for some justification for mind boggling market moves.

Again, the economic data has nothing to do with the markets. As long as Apple keeps announcing new products to sell to a gazillion Chinese, Naz will reach 5k within a year or two.

Mon, 09/20/2010 - 10:51 | 591898 Internet Tough Guy
Internet Tough Guy's picture

So that's what, 15 years just to make a nominal round trip and still down about 40% in inflation adjusted terms. Too many victories like that will leave you broke, Harry.

Mon, 09/20/2010 - 10:57 | 591916 HarryWanger
HarryWanger's picture

AAPL was 9 bucks 15 years ago. That's a huge victory. Not for me, I only bought it at 239 just a couple of weeks ago. For those who bought then, it's a bit more than a "nominal round trip".

Mon, 09/20/2010 - 11:06 | 591943 Internet Tough Guy
Internet Tough Guy's picture

I thought we were talking about the nasdaq, but whatever. Chase those high fliers. By the way did you know the all time high for nortel was $870, about 15 years ago.

Mon, 09/20/2010 - 11:17 | 591988 HarryWanger
HarryWanger's picture

Two things:

-AAPL will flame out eventually as the market saturates but that's a fairly long way off. We're probably mid cycle on that as they begin to move into gigantic world markets. Then the inevitable will occur but by then (pre split) AAPL could be trading a $500.00. I'll keep my tight stop with 2% as I trail it upward.

-As long as the 3rd largest company in the world (2nd largest in US) continues this crazy growth, the markets will tag along. They have to with the insane weighting of AAPL in the NAZ and SPX.

So forget every ticker you have. Forget all the economic news. Just put up a tick chart of AAPL with a news feed of everything AAPL and that's all you need to know about the markets.

Mon, 09/20/2010 - 12:02 | 592144 Caviar Emptor
Caviar Emptor's picture

AAPL: Great American company. Makes all its stuff in China.

Mon, 09/20/2010 - 10:34 | 591844 pat53
pat53's picture

Well, you might as well just stay long stocks and enjoy the ride then.

Mon, 09/20/2010 - 10:55 | 591911 No Mas
No Mas's picture

Egg-Zactly.

No matter the constant drum beat of bad news about our or the world's economy, this is pretty much a one way market and that way is up.

This market may not be the market of old, it may be purely a reflection of the fed's largess.  But still, if one buys low and sells high, one makes the same money. 

I have offically gone to the dark side.  My thanks to Ben and Tim.  The implicit promise of a higher market is one I shall use to enrich myself.

Mon, 09/20/2010 - 11:24 | 592015 taraxias
taraxias's picture

I'd be careful about that "enrich" thing if I were you.

When it's time to run for the exits the retail investor (that's you) will be the last to know.

I'm just saying.......

Mon, 09/20/2010 - 10:35 | 591847 Ragnarok
Ragnarok's picture

I want to see what Reggie has to say about this.

Mon, 09/20/2010 - 10:37 | 591848 Trifecta Man
Trifecta Man's picture

Where's the jobs?  Record foreclosures?

Mon, 09/20/2010 - 10:40 | 591867 Hephasteus
Hephasteus's picture

We've grown past jobs. We just beam the fat boys straight into peoples heads.

http://www.youtube.com/watch?v=FMXsRArwlk0&feature=related

Mon, 09/20/2010 - 12:39 | 592276 NumberNone
NumberNone's picture

The report doesn't say that things are better, it just says the recession ended.  lol.  In fact they have the balls to say "The committee decided that any future downturn of the economy would be a new recession and not a continuation of the recession that began in December 2007." 

So there you go.  Welcome to your recovery.  If the bottom falls out tomorrow, that's a NEW recession. 

Men are so simple and so much inclined to obey immediate needs that a deceiver will never lack victims for his deceptions - Niccolo Machiavelli

Mon, 09/20/2010 - 10:37 | 591855 suteibu
suteibu's picture

That's the good news.  The bad news is that all of the debt, the high unemployment, and the slow drip of government intervention is the new normal.

Mon, 09/20/2010 - 10:37 | 591856 HarryWanger
HarryWanger's picture

Actually, the recession officially ended when Steve Jobs introduced the "magical" iPad, making all life perfect for everyone. 

AAPL up another 2% today. I'll repeat this until the markets reach new all time highs; until Apple falters, this market will ramp higher and higher and higher.

Mon, 09/20/2010 - 10:52 | 591906 Internet Tough Guy
Internet Tough Guy's picture

Pumpers said the same thing about Enron, Qualcomm, Nortel, Intel. Enjoy that hot stock of the day, harry.

Mon, 09/20/2010 - 11:03 | 591937 HarryWanger
HarryWanger's picture

Please, no disrespect but I'm not sure why people can't figure out that the SPX and NAZ are completely overweighted with AAPL. If it continues to move higher, simple math tells you the indices have to move with it. My god, it's 20% of the Nasdaq.

I'm not pumping AAPL, I'm just trying to point out the vast valley between what the economic data tells you and the market movement. There is very little correlation. Apple is not Enron or Nortel, etc., that's silly to even think that. They make innovative products that are tapping into a global market. That means there's a lot of growth ahead for them and, in turn, the markets. 

Mon, 09/20/2010 - 11:09 | 591955 Internet Tough Guy
Internet Tough Guy's picture

I'm pretty sure Nortel made, and Intel makes pretty innovative products for a global market, but hey, AAPL is different. Right.

From 75 to 20 in ten years: http://finance.yahoo.com/echarts?s=INTC+Interactive#chart1:symbol=intc;range=my;indicator=volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=off;source=undefined

Mon, 09/20/2010 - 11:24 | 592014 ZakuKommander
ZakuKommander's picture

In Consumerland (a/k/a USA) the ecosystem of products that AAPL offers distinguishes it materially from those other companies.

Add to that Harry's observation that AAPL is a substantial percentage factor in key indexes, and one can see his point.

Of course, note that the dollar is falling, and THAT will fuel a market rise.

Mon, 09/20/2010 - 10:39 | 591863 TooBearish
TooBearish's picture

If it wasn't so sad it would be funny - BTW Gartman saying ECRI is contrary indicator

Mon, 09/20/2010 - 10:43 | 591876 vote_libertaria...
vote_libertarian_party's picture

...and by contrary he means 100% of the time when that number is <= -10 a recession shows up shortly.

 

 

Mon, 09/20/2010 - 10:40 | 591864 schoolsout
schoolsout's picture

Thank God...I was getting worried there. 

 

 

Mon, 09/20/2010 - 11:29 | 592032 TooBearish
TooBearish's picture

From today's Gartmen:


THE ECRI WEEKLY

LEADING ECONOMIC


INDEX:


 


Spikes Mark

Economic Slowdown Lows!:


Much is being made recently of the

weakness in the ECRI Leading

Index, but all we know from past

history is that when the Index

reaches the extreme lows such as

it has reached recently that marks

the end of economic weakness

rather than the onset.

Mon, 09/20/2010 - 10:42 | 591869 NOTW777
NOTW777's picture

hilarious - cnbc completely turns over to obama worship central

Mon, 09/20/2010 - 11:11 | 591965 docj
docj's picture

Which is doubly hilarious when you consider that, if the recession actually did end in June 2009 - or 4-months after Barry O was installed - then almost precisely none of his "fixes" to the recession had anything to do with the end of the recession.

Not that any of this matters to the wage-slaves who are watching their neighbors' extended unemployment run out while their own wages have been flat for years in an increasing tax market.

Mon, 09/20/2010 - 11:24 | 592013 Bob
Bob's picture

It's about time they set aside their silly differences and recognized they both work for the same people.

Mon, 09/20/2010 - 13:44 | 592447 aheady
aheady's picture

+billions

Mon, 09/20/2010 - 10:42 | 591870 firstdivision
firstdivision's picture

Woohoo!  I am going to max out my credit cards, apply for new ones, and take out a loan and buy stocks to celebrate this miraculous recovery. 

Mon, 09/20/2010 - 11:04 | 591938 Turd Ferguson
Turd Ferguson's picture

Actually, you are closer than you think to the answer.

There is no way the Fed/Treas/WH/Congress will allow failure or austerity. Print, print, print is their only strategy. 95% of Americans will be murdered by inflation but they won't notice it because their wages and salaries will have doubled, too.

Go ahead. Take on as much debt today as you can. Pay it off tomorrow in your 70%-devalued currency. 

Mon, 09/20/2010 - 10:43 | 591877 Robert J Moran
Robert J Moran's picture

 National Bureau of Economic Research met yesterday by conference call. 

... they phoned it in!

Mon, 09/20/2010 - 10:43 | 591878 ejmoosa
ejmoosa's picture

Looks like they are building the case that Cash for Clunkers actually saved America.

Too bad for them that ZHers know better.

 

Mon, 09/20/2010 - 10:46 | 591884 doomandbloom
doomandbloom's picture

not sure who first talked about DOW 36,000

but recently i came across this guy who does stock forecasting based on astrological charts...even he says the same :-)

http://www.mahendraprophecy.com/latest-news.php?id=471

Mon, 09/20/2010 - 10:50 | 591894 Turd Ferguson
Turd Ferguson's picture

The great demographer, Harry Dent, first promulgated Dow 36,000 back in the early 90s.

It was supposed to have happened by 2011. It still might.

Mon, 09/20/2010 - 10:58 | 591917 cnbcsucks
cnbcsucks's picture

By 2011???   By the looks of this completely unfounded ramp this morning, we could be there by the end of the week.  This market is a joke...

 

Mon, 09/20/2010 - 11:28 | 592024 goldmiddelfinger
goldmiddelfinger's picture

But first-----Big commodity crash beginning today. Maybe today is the top?...and big equity crash Oct 3-13

Mon, 09/20/2010 - 10:48 | 591887 Internet Tough Guy
Internet Tough Guy's picture

I'm gonna go with Shadowstats, sorry NBER.

Mon, 09/20/2010 - 10:49 | 591889 Joaquin
Joaquin's picture

The NBER also announced that the Titanic finished sinking at 2:20 AM April 15, 1912 and, as it was already laying on the bottom in pieces, it was not sinking anymore after that.

Mon, 09/20/2010 - 10:50 | 591895 RobotTrader
RobotTrader's picture

PCLN up $11

By the way, when is Eric King going to interview William Shatner??

LOL....

Mon, 09/20/2010 - 10:57 | 591914 Internet Tough Guy
Internet Tough Guy's picture

Chase it, Robo. Pound that F12 key to fame and fortune.

Mon, 09/20/2010 - 11:06 | 591944 Hephasteus
Hephasteus's picture

Refresh! Refresh!!

http://www.gifbin.com/981211

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