• Sprott Money
    04/29/2016 - 05:58
    There is unfortunately no basis for renewed optimism that this current litigation will have any meaningful impact on precious metals manipulation – with respect to either silver or gold.

Welcome To The Confidenceless, Stagflationary, Recoverlyess Recovery: Consumer Confidence Plunges

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Tue, 03/29/2011 - 10:03 | 1112467 RunningMan
RunningMan's picture

What a shock.

Tue, 03/29/2011 - 10:28 | 1112601 Ray1968
Ray1968's picture

And the market is up because.........?

Oh yeah, its priced in. POMO. Whatever.

Tue, 03/29/2011 - 10:54 | 1112711 B9K9
B9K9's picture

Bernanke is in a blind

??? Never, ever make the mistake of assuming these guys didn't know exactly what they were doing. In 2008, they were faced with a deflationary collapse - of their own making, I might add.

They had two choices: let it go down then, or try a Hail Mary - after all, if the recovery attempt failed, then what would be the difference? Oh, other than case 1 would have been limited to the financial/economic sector, whereas case 2 is the nation-state itself, but I digress.

Ben, et al have always know they couldn't actually offset the credit component via straight monetary (or even fiscal) policy. So, the game was to pimp daddy the markets, in conjunction with the largest, most pervasive propaganda campaign of all time, along with a huge dose of bread (UI, SNAP, WIC) & circus (TV).

This was all done, of course, in order to get the idiot sheep to once again, 'buy, buy, buy!' not with real cash savings and/or earnings, but with credit supplied by their friendly neighborhood banker. It was a race against time, all hinging upon getting another broad-based bubble going before rapidly spiking price increases defeated confidence.

Well, surprise surprise, the campaign failed. Hence we are beginning to see the incipient 'escape from Moscow, 1812' rear-guard actions designed to protect the looters from the wrath of surprised bag holders. ZH has always been ahead of the curve; I would guess the next fertile zone would be communications facilities that supported the 'never forget' variety.

Tue, 03/29/2011 - 11:09 | 1112794 Cognitive Dissonance
Cognitive Dissonance's picture

As Todd Harrison of Minyanville.com said back in 2008 as the disaster was publicly unfolding, the Fed made a conscious decision to sell the car crash and buy the cancer.

Welcome to the terminal stage of cancer. You get sick as hell, but you often hang on for much longer than you expected.

Tue, 03/29/2011 - 11:18 | 1112840 overmedicatedun...
overmedicatedundersexed's picture

If we are living in a constitutional republic this

"mulatto swan" as I refer to it has implications that are historic and terrifying. 


"Billionaire developer and possible Republican presidential candidate Donald Trump is now suggesting Barack Obama's presidency could be "illegal" if legitimate proof is not provided demonstrating the commander in chief is indeed a "natural born citizen" of the U.S. "

one eyed man in the land of the blind.

Tue, 03/29/2011 - 11:24 | 1112871 Cognitive Dissonance
Cognitive Dissonance's picture

one eyed man in the land of the blind.

Which one is the one eyed man? Trump or Obama?

Tue, 03/29/2011 - 11:36 | 1112918 tewkatz
tewkatz's picture

To answer that, we should all clean our monocles.

Tue, 03/29/2011 - 13:13 | 1113304 francis_sawyer
francis_sawyer's picture

"one eyed man in the land of the blind"

In the land of no clothes, the man with the biggest one eyed monster is king!

Tue, 03/29/2011 - 11:56 | 1113008 Mr Anderson
Mr Anderson's picture


The terminal stage of cancer is a perfect way to put it. Many people when first diagnosed with cancer rally. They don't feel bad so they go out and live life to the fullest (confidence index-up). As their bucket list gets smaller and the chemo isn't doing the trick they begin to lag, confidence goes down,  then when you know the end is near you panic.

Thus the great government bubble, saddled with the cancerous housing crisis creates true panic within society. 


Tue, 03/29/2011 - 11:59 | 1113018 glenlloyd
glenlloyd's picture

right on point

Tue, 03/29/2011 - 12:06 | 1113059 Truthiness
Truthiness's picture


Tue, 03/29/2011 - 11:20 | 1112829 wisefool
wisefool's picture

And Leisman just announced that the freedom of information act lawsuit that Fox Business and Bloomberg filed against the Fed has been decided in favor of getting the script to this Greek tragedy out there for all of us well read ZH'ers to play Mystery Science Theater 9000 with, instead of being regarded as a bunch of illegitimate cynics.

EDIT: And I say greek tragedy in earnest. Nobody was truly evil, including the Fed, banks, overleveraged buyers, MBA masters of the universe or the MSM. But everybody is going to die from inflation anyway. Obla De, Obla Da.

Tue, 03/29/2011 - 11:41 | 1112946 TheMerryPrankster
TheMerryPrankster's picture

When you jettison the common good for infinite wealth you are evil. When all consuming greed and the whole world be damned, becomes your common ethos, you are evil. When regulators who's very existence is precisely to regulate against such fraud and outright violations as the housing bubble and all its fraud incarnate, turn a blind eye, they become evil.

When the very President of this nation is himself a serial fraudster, he becomes evil. Evil thy name is Bush, Clinton, Obama, Goldman Sachs, SEC, Federal Reserve and countless others that make your number legion.


This was not a "natural disaster" this was man made and there is blame enough for all. Let history not be rewritten, let these names not be forgotten. We should build a monument to TARP constructed entirely of millions of worthless aluminum pennies, perhaps in the shape of an extended middle finger, and on this shrine should be the names of all who accepted TARP, all who designed TARP and all who voted for TARP.

Tue, 03/29/2011 - 12:00 | 1113016 Mr Anderson
Mr Anderson's picture

If you built a shrine with the middle finger.  Trav7777's head would become so large not even ZH readers could handle him.

Tue, 03/29/2011 - 12:28 | 1113153 j0nx
j0nx's picture

+ $750 Billion

Tue, 03/29/2011 - 10:54 | 1112724 dbach
dbach's picture

Its a tough time to be a bear. Maybe when good news finally hits the wires there'll be a solid sell off. I dont know anymore. But seriously who is buying?

Tue, 03/29/2011 - 10:27 | 1112605 Sudden Debt
Sudden Debt's picture



Tue, 03/29/2011 - 10:33 | 1112631 Don Birnam
Don Birnam's picture

The verdict:

DJIA +28

NAZZ +12 ( "BTFD" )

S&P +1

"Nothing much to see here, folks. Next ?"

Tue, 03/29/2011 - 11:02 | 1112762 redpill
redpill's picture

1) Continue physical accumulation.

2) Go long AGQ on margin.  If they want to lend money so bad use it against them.

Tue, 03/29/2011 - 12:08 | 1113058 lincolnsteffens
lincolnsteffens's picture

STFP-sell the fucking peak

Can volume go much lower?

Tue, 03/29/2011 - 10:05 | 1112469 firstdivision
firstdivision's picture

...and there goes the market running up on the bad news.  It is defo trying to price in QE3.  I wonder what the banks are putting on this survey for QE3?  My guess is $100T now.

Tue, 03/29/2011 - 10:08 | 1112492 A Man without Q...
A Man without Qualities's picture

Unbelievable!  Confidence down owing to inflation expectations does not imply a green light for more QE, but what do I know, I'm not a computer...

Tue, 03/29/2011 - 10:32 | 1112640 DB Cooper
DB Cooper's picture

But if you have a Phd in economics......

Tue, 03/29/2011 - 10:09 | 1112496 HelluvaEngineer
HelluvaEngineer's picture

Yup.  Dollar seems to have overhead resistance.  Hit it, went back in the shitter, and market took off.  CMG up 1.5%.  Go fraud.

Tue, 03/29/2011 - 10:20 | 1112556 Cdad
Cdad's picture

You have to just love that CMG action.  If you watch it intraday, you can clearly see the mechanism, how the fraud works at the individual stock level...a true "pyramid" stock.

And if the SEC ever pulled the tape of trades the day after the last earnings CC...I am convinced a good many syndicate members would find themselves with notices...or perhaps agents "visiting."

Funny...it is almost like the criminal syndicate known as Wall Street somehow thinks we are all blind or something.  And even more funny, the syndicate has somehow forgotten that its entire existence depends upon "trust."

Cue up Robo fraud with a 12 month chart filled with sound and fury, signifying nothing.

Tue, 03/29/2011 - 10:20 | 1112554 SheepDog-One
SheepDog-One's picture

I dont see the market running up unless youre talking about gold.

Tue, 03/29/2011 - 10:24 | 1112590 firstdivision
firstdivision's picture

Look at an intrady of SPX and look right at 10am what happened.

Tue, 03/29/2011 - 10:28 | 1112610 Cdad
Cdad's picture


I think Helluva was simply referring to the way the Roach Motel [SPY] jumped 3/4 of a buck in about 20 minutes...you know, so that syndicate members can dump underlying stock into the gaping maw of that sick, sick, ETF...that is supposed to represent the S&P 500 mind you.....LOL!  Talk about striking right at the heart of the fraudulent equity market at Fraud Central, NY, NY.

But I don't think anyone really needs to worry about the market up and running away, because we all know that as soon as the underlying stock is dumped down the gaping maw of the Roach Motel, the syndicate will then be clear to ramp the Inverse Roach Motel while simultaneously naked short selling the Roach Motel into oblivion...for at least 20 minutes, thus showing everyone once again what a Ponzi scheme bunch of fuckwads the Criminal Syndicate Known As Wall Street really is.

Cue Jamie Dimon bitching about how hard it is to be a bailed out billionaire, while K. Finerman quivers about how hot he is, and all will be right with the world...and the American Dream won't be dead and in its grave or anything...no no...

Good grief [and by that I mean when will the layoffs finally be allowed to proceed from the now putrid financial services industry?]

Tue, 03/29/2011 - 12:07 | 1113066 A_MacLaren
A_MacLaren's picture

...and there goes the market running up on the bad news.

Uh, no.  Sad reality is it soundly and rsoundingly beat the whishper number.

Which was down around...  oh..............   2.

Tue, 03/29/2011 - 12:43 | 1113206 divide_by_zero
divide_by_zero's picture

AP Headline "Stocks gain as confidence falls less than feared", when did the meme change from "better than expected".


Tue, 03/29/2011 - 13:15 | 1113318 francis_sawyer
francis_sawyer's picture

Still 2 more trading days until the end of Q1...


Momos desperate to beat their "Lipper Averages" (whatever TF they are)...

Tue, 03/29/2011 - 10:03 | 1112472 Racer
Racer's picture

Who cares about people, HFT will love QEx

Tue, 03/29/2011 - 12:01 | 1113028 goldfish1
goldfish1's picture


"I think the market is beginning to believe that there will be no QE3," said Saxo Bank senior manager Ole Hansen.

"We expect that ... the end of quantitative easing..." said Goldman Sachs in a report on Tuesday.


Tue, 03/29/2011 - 10:05 | 1112476 shushup
shushup's picture

Great! Now the market will rally because the bulls in this market loves all news especially bad news.

Tue, 03/29/2011 - 10:04 | 1112481 DonnieD
DonnieD's picture

Inflation in October of 08?

Tue, 03/29/2011 - 10:07 | 1112488 Republican Lackey
Republican Lackey's picture

When peoples confidence is down they spend like drunken sailors! Buy gold to ward off the hyperinflation that always accompanies low consumer confidence!

Tue, 03/29/2011 - 10:06 | 1112490 Spalding_Smailes
Spalding_Smailes's picture

the Inflation Rate index surged 


Another nail in QE3 coffin ?

Tue, 03/29/2011 - 10:07 | 1112494 Republican Lackey
Republican Lackey's picture


Tue, 03/29/2011 - 10:09 | 1112498 oogs66
oogs66's picture

Nah, a sign that its working.  Everything is a sign that its working.

Tue, 03/29/2011 - 10:16 | 1112536 d00daa
d00daa's picture

Oh please.

Just watch all of the upcoming Q1 earnings "misses" and downward guidance revisions, and the equity rout that follows.

It's 2010 all over again.

Tue, 03/29/2011 - 10:28 | 1112587 Spalding_Smailes
Spalding_Smailes's picture

Not from the fortune 500 companies pimping wears across the globe .... It's been 8 quarters of growth for most, Starbux, McD's, Pepsi, Exxon, Yum Brands, Macy's , Chipotle, Fluor ect .....

Tue, 03/29/2011 - 10:38 | 1112648 d00daa
d00daa's picture

Less than half of those names you mentioned beat their Q1 "consensus," and ALL OF THEM revise expectations downward.  Wanna take the other side of that bet?

Tue, 03/29/2011 - 13:19 | 1113335 francis_sawyer
francis_sawyer's picture

"the Inflation Rate index surged"


Learn it... Know it... Live it!


Tue, 03/29/2011 - 10:09 | 1112491 Cognitive Dissonance
Cognitive Dissonance's picture

"Missed it by [ ] that much."

Agent Maxwell Smart

Tue, 03/29/2011 - 10:21 | 1112557 oklaboy
oklaboy's picture

Cog, were ya benn boy!!!

Tue, 03/29/2011 - 10:34 | 1112641 Cognitive Dissonance
Cognitive Dissonance's picture

Here....on a daily basis in the comment section. Just look and you shall find. Why mess around with articles when I can play in the sand box all day? :>)

Tue, 03/29/2011 - 10:09 | 1112495 GOSPLAN HERO
GOSPLAN HERO's picture

Only Soviet style central planning can save us, comrades. 

Tue, 03/29/2011 - 10:12 | 1112511 Republican Lackey
Republican Lackey's picture

The only thing that will save us is deflation.

Tue, 03/29/2011 - 10:13 | 1112512 Cognitive Dissonance
Cognitive Dissonance's picture

Does this means the Soviets won? 

How do I subscribe to Pravda?


Tue, 03/29/2011 - 10:16 | 1112544 EscapeKey
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In Soviet Russia, Pravda subscribes to YOU.

Do NOT follow this link or you will be banned from the site!