So Much For That Japanese Recovery: Large Manufacturer Confidence Plummets

Tyler Durden's picture

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Caviar Emptor's picture

Excellent, CD! More retro-kitch to enjoy

Cognitive Dissonance's picture

But honest to God, no one could have seen this coming. Honest! Cross my heart and hope to die honest.

Ya gotta believe me. I wouldn't lie to you, there's no percentage in it. I swear to God on my mother's grave.

Trust me!

Caviar Emptor's picture


"I apologize for lying to you. I promise I won't deceive you except in matters of this sort. "
Spiro T. Agnew 

http://www.famousquotesabout.com/quote/I-apologize-for-lying/532000

Element's picture

 "Surprise, surprise, surprise."

 

Reminded me of Pink Floyd "... Is there any body ... out-there?"

BORT's picture

 I did some research. The usage of Petroleum products in total, as produced by the EIA; shows the following. Peak usage was October 2007 (denoted as 100 for reference) Minimum was 89.58 in February of 2010. Next peak was 92.2 in Feb 2011. It has rolled over and is now at 91.77
These are 52 week moving averages, using the data supplied at
www.eia.gov/dnav/pet/pet_sum_sndw_dcus_n...
They seem to be pretty good predictors of a recession. Everyone is blaming Japan, but what about the loss of the local government stimulus funds, ending of POMO, and continuing low income growth?

Caviar Emptor's picture

Funny how little meat is left on the bone when the stimulus fat melts away

holdbuysell's picture

That's ok, the US Fed will just hold the markets up by just printing more...uh...

Oh.

Nevermind.

max2205's picture

So at what price does the SPX need to be before we go positive the last 10 years?......

BORT's picture

2000 peak was 1530, and then the bottom fell out down to 768.  Depends on exactly how you bought your stake.  I'm guessing a lot of 401 K money is still underwater in stocks

anvILL's picture

That didn't really help since it caused the yen to surge significantly.

squexx's picture

The Japanese Government lies as much as the US Government. No surprise there!

sabra1's picture

noticed that too. bad news drives their markets higher. must be the chinese buying something or the other!

Oh regional Indian's picture

CE, at one time, saving face in Japan did not mean lying.

It meant speaking the whole truth and then taking your-self out of the equation.

But on an increasing basis since early white influence and finally peaking and dying with the Emperor's capitulation after WWII, Japan has been a walking dead society, with no mooring left from it's past and the cloying, de-stroying American influence gutting them completely from with-in.

In a strange way, Fukushima was bound to happen. When Japan was Pure Land, Even the wind-gods considered them worthy of saving.

ORI

http://aadivaahan.wordpress.com/2011/06/30/desiderata/

chump666's picture

and China/Sth Korea PMI's are collapsing. All eyes on miner stocks

Hedge Jobs's picture

yep, china PMI at 50.9 down from 52. exp was 51.5

smlbizman's picture

i know this is completly off topic but wtf...i'm watching clinton..i'm drinking...i think i'm glad the big "O" is pres.....having clinton would be like burning at the stake and being skinned...having big "O" is like being prisoned raped  for 100 days straight,..... some how that seems like the best choice

 

and just a quick check at drudge...no mention of nebraska and fuckin run...

Caviar Emptor's picture

Dang those stingy US consumers! How dare they save their money? What the world needs is a good indoctrination program to revive "shop till ya drop"  

zorba THE GREEK's picture

 'Japanese household demand is weak' 

  Is that including all the households in a 30 km radius of

 Fuki Nuki? Or are they referring to all the households 

 along the beautiful, recently reconfigured coastline?

 

hamurobby's picture

They would call them and ask, but they keep getting...

 "The phone number you have called, has been

 disconnected".

Misean's picture

Not to worry. The Japanese keynsian ass-hats are mailing out radioactive rocks to the citizenry to smash through windows. Q3 GDP is about to rocket.

chump666's picture

goldman still going long AUD/JPY? haha

 

Hondo's picture

The level of prduction is what counts. A 5.7% increase from a zero base means nothing but for some reason most economist especially from the street are math challenged.

DoChenRollingBearing's picture

I will be able to contribute an anecdotal data point re production in Japan re bearings upon my return from Peru on July 15.  (Anyone interested in our little Peruvian bearing import company send me a gmail at my name for a link to my blog).

The president and owner of one of our bearing suppliers visits with us on July 12 and will likely give us some insights into his own production situation (note that most bearing production in Japan is in the relatively unscathed area of SW Japan).

The ever faithful Bearing will pass along to Zero Hedge whatever he is able to glean from our meeting.

CrashisOptimistic's picture

BTW folks, DSK in the process of skating, now that he was kept out of the way long enough for Greece to surrender:

http://www.nytimes.com/2011/07/01/nyregion/strauss-kahn-case-seen-as-in-jeopardy.html/?_r=2&smid=tw-nytimes

 

jm's picture

China is in serious trouble, no point in denying it.

Just look at 7-day interbank repo rates (the real reference rate).

zorba THE GREEK's picture

 This may be off subject but is likely to be of interest to ZH

 followers: I read earlier on 321 gold that the big players

 are setting up for a huge silver short over the long weekend.

 With the low volume, they could bring the price down to

  $26. If this puts you at risk, better check it out .

CrashisOptimistic's picture

Aren't there about what, 5 different gold threads you could have put that on?

Smiddywesson's picture

Let me recap the last week or so for my fellow simians.

Fed Chairman Ben Bernanke admits, after spending trillions of dollars, that he doesn't really know why the economy isn't rebounding.

Barry Obama, who promised us change and then proceeded to appoint the very same people that the last jackass appointed (whom I, another jackass, voted for), admitted that the solution is that we need to address the budget deficit to create jobs.  I kid you not, the very same president who entered his term with the agenda that budget deficits and stimulus would create jobs has now taken the stance that confronting those very same budget deficits will create jobs.  This is comedy at its finest.

Neither party is going to solve this problem.  Stop blaming Bush or Obama, they are pawns.  The whole system has to burn to the ground before this gets better.

krispkritter's picture

From one simian to another, Amen brother...

oldman's picture

It's OK. Smiddy

It has already burned to the ground; now it is just trying to bury itself

oldman's picture

oops---------------------doublepost

Atomizer's picture

Future MSM headlines..

"Japan supply chain disruption will create new recovery bubbles."

Ned Zeppelin's picture

economist (and Joe LaVorgna)

+1

donpaulo's picture

complete and total pablum

 

Japan is going to have growth... its magic ! ask harry potter he knows how to do that kind of stuff.

 

Meanwhile the govt bureaucrats and the prime ministers office aren't talking, the pump at fukushima is broken and the plan to cover the building with a plastic tarp is on schedule for Sept.

 

japan is going to have growth ya'll. believe it

 

it will be mutatious

 

zorba THE GREEK's picture

 Sorry c o but Zorba is computer illiterate and doesn't yet

 know how to put treads in comment, but learning fast.

 To change subject, who didn't know DSK was set up?

 For paybacks he should tell what he knows about empty

 Fort Knox.

Smiddywesson's picture

 Told you, excrement throwing simians.  This whole case stunk, and yet you joined the masses.  Gustuv Le Bon is laughting at you.  EVERYTHING you take for granted in this world is phoney.  Most conspiracy theories, let's say 19 out of 20, are baseless.  But in the world of money, 19 out of 20 are true, nes pas?
Strauss-Kahn Case Seen as in Jeopardy By JIM DWYER, WILLIAM K. RASHBAUM and JOHN ELIGON Published: June 30, 2011

This article is by Jim DwyerWilliam K. Rashbaum and John Eligon.

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Andrew Harrer/Bloomberg News

Dominique Strauss-Kahn could be released on his own recognizance, and freed from house arrest.

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Shannon Stapleton/Reuters

Dominique Strauss-Kahn arrived at Manhattan Criminal Court for his arraignment in New York on June 6.

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Share your thoughts.

The sexual assault case againstDominique Strauss-Kahn is on the verge of collapse as investigators have uncovered major holes in the credibility of the housekeeper who charged that he attacked her in his Manhattan hotel suite in May, according to two well-placed law enforcement officials.

Caviar Emptor's picture

Well, well, you have to understand....These important people that are part of the elite club are under such pressure trying to keep the world in order....we have to overlook a few things they do once in a while...they're not like you and me

CrashisOptimistic's picture

Nope.  No way.

There had been a story just about 2 weeks prior that the IMF had made it clear Ireland was going to be allowed to default.  The Irish FM declared "You have saved Ireland!"

He Was Going To Do The Same For Greece.

He Had To Be Gotten Out Of the Way.

So just The Very Day Greece votes to betray its own citizens, we hear he'll skate.  What a coincidence!

 

AwlDone's picture

Just about Spit-up through my nose while laughing.  Well Done!!!!

Smiddywesson's picture

Fellow excrement throwing simians, please forgive me, I pasted in an article about how the prosecution of DSK is falling apart, and it led to a print of Internet craziness that nobody can discipher.  

My point was that the rush to lynch this guy was so overwhelming that I felt that the story was bogus, and now the "allegator" is starting to contradict herself like the person who claimed the Duke Lacross team raped her.  

Are we here to swallow the official truth or to discerne the real truth? I don't know anything about this case, but the allegations against DSK don't feel right to me.

i-dog's picture

"the allegations against DSK don't feel right to me"

Me, neither. I said it was a setup on Day 1 (and got junked for it).

Yen Cross's picture

 Were you expecting a Trophy? Junks are part of the land scape.  Just keep em minimal!

 

             Yen.