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Cue Stagflationary Recession: Chicago PMI Huge Sub-50 Miss, Back To September 2009 Levels; Prices Paid Spikes

Tyler Durden's picture




 

QE1, QE2, Operation Twist 1, Operation Twist 2, a Fed balance sheet that is now expected to be $5 trillion in 2 years, and all we get is a lousy manufacturing economy that according to the Chicago PMI just dipped into contraction, or for all intents and purposes, recession, printing its first sub-50 print, 49.7 specifically, on expectations of a 52.8, and down from 53. This was the lowest since September 2009 and the biggest miss in 4 months. Specifically, the employment index came at a two and a half year low, New Orders, Backlogs and Deliveries had their 3 month moving averages at the lowest since Mid 2009, and Capital Equipment printed at a 17 month low. But not all hope is lost: at least prices paid soared for the third consecutive month to 63.2 from 57. Cue not just recession, but stagflationary recession. It also means that both the Manufacturing ISM and Q3 GDP will be a total disaster. Time to start pricing in QE X to be followed 24 hours later by QE X+1. The central bank cartel is starting to lose control.

 

Employment:

The good news: you can now completely ignore anyone and everyone who told you over the past 4 years, that the economy was improving.

 

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Fri, 09/28/2012 - 09:59 | 2838531 DrDinkus
DrDinkus's picture

fk it, lets choom

Fri, 09/28/2012 - 10:04 | 2838538 GetZeeGold
GetZeeGold's picture

 

 

Let's get high Amigos.....heh heh.

 

You just can't make this crap up.

 

Fri, 09/28/2012 - 10:21 | 2838664 vast-dom
vast-dom's picture

numbers were ALL juiced up. real numbers MUCH worse. 

Fri, 09/28/2012 - 10:24 | 2838673 spastic_colon
spastic_colon's picture

transi....ha ha...tor....ha ha...y  sorry I couldn't keep a straight face

Fri, 09/28/2012 - 10:24 | 2838674 JPM Hater001
JPM Hater001's picture

"real numbers MUCH worse."

real numbers MUCH MUCH MUCH MUCH MUCH MUCH MUCH MUCH MUCH MUCH MUCH MUCH MUCH MUCH MUCH MUCH MUCH MUCH MUCH MUCH MUCH MUCH MUCH MUCH MUCH MUCH MUCH MUCH MUCH MUCH MUCH MUCH MUCH MUCH MUCH MUCH MUCH MUCH MUCH MUCH MUCH MUCH MUCH MUCH MUCH MUCH MUCH MUCH MUCH MUCH MUCH MUCH MUCH MUCH MUCH MUCH MUCH MUCH MUCH MUCH MUCH MUCH MUCH MUCH MUCH MUCH MUCH MUCH MUCH MUCH MUCH MUCH MUCH MUCH MUCH MUCH MUCH MUCH MUCH MUCH MUCH MUCH MUCH MUCH MUCH MUCH MUCH MUCH MUCH MUCH MUCH MUCH MUCH MUCH MUCH MUCH MUCH MUCH MUCH MUCH MUCH MUCH MUCH MUCH MUCH MUCH MUCH MUCH MUCH MUCH MUCH MUCH MUCH MUCH MUCH MUCH MUCH MUCH MUCH MUCH MUCH MUCH MUCH MUCH MUCH MUCH MUCH MUCH MUCH MUCH MUCH MUCH MUCH MUCH MUCH MUCH MUCH MUCH MUCH MUCH MUCH MUCH MUCH MUCH MUCH MUCH MUCH MUCH MUCH MUCH MUCH MUCH MUCH MUCH MUCH MUCH MUCH MUCH MUCH MUCH MUCH MUCH MUCH MUCH MUCH MUCH MUCH MUCH MUCH MUCH MUCH MUCH MUCH MUCH MUCH MUCH MUCH MUCH MUCH MUCH MUCH MUCH MUCH MUCH MUCH MUCH MUCH MUCH MUCH MUCH MUCH MUCH MUCH MUCH MUCH MUCH MUCH MUCH MUCH MUCH MUCH MUCH MUCH MUCH MUCH MUCH MUCH MUCH MUCH MUCH MUCH MUCH MUCH MUCH MUCH MUCH MUCH MUCH MUCH MUCH MUCH MUCH MUCH MUCH MUCH MUCH MUCH MUCH MUCH MUCH MUCH MUCH MUCH MUCH MUCH MUCH MUCH MUCH MUCH MUCH MUCH MUCH MUCH MUCH MUCH MUCH MUCH MUCH MUCH MUCH MUCH MUCH MUCH MUCH MUCH MUCH MUCH MUCH MUCH MUCH MUCH MUCH MUCH MUCH MUCH MUCH MUCH MUCH worse.

 

There Fixed.

Fri, 09/28/2012 - 10:26 | 2838693 mr1963
mr1963's picture

I was gonna fix the economy -- but then I got high...

Fri, 09/28/2012 - 10:43 | 2838789 Ying-Yang
Ying-Yang's picture

Chicago PMI Report comments from panelists:


Each month, the survey panelists have the opportunity to add comments to clarify the reported activity of their organization. As appropriate, the report includes comments selected for their insight. No attempt is made to ensure that the nature of the comments represents the survey panel as a whole. Corrections to minor issues such as typographical errors, that do not impact interpretation, may have been made.

1. It seem's that companies are starting to move forward again. Projects that have been on hold are again being discussed.
2. Packaging prices are steady with some pressure or suggestions of increase without real merit.
3. Chemical prices are increasing due to oil and corn in the case of ethanol.
4. Copper moved higher quickly.
5. Market place still seems unsettled. One automotive customer's projections for huge growth this year fizzled out during the 3rd quarter, yet another automotive customer's demands have shown healthy increases.
6. Suppliers seem to be slower than ever with their orders, there seems to be no knowledge or creativity anymore if it isn't on the computer they can't do it.
7. 2012 drought, election year, recent change in Gulf weather all play into short term and long term prices of materials.
8. Overall uncertainty with respect to government policies continues to make us hesitant to make significant investments in new areas.
9. Uncertainty about taxes, regulations, and public policy going into 2013 is causing spending decisions to be deferred or constrained until the picture is clearer.
10. Another month of lower order intake.

https://www.ism-chicago.org/chapters/ism-ismchicago/files/ChicagoPMI-12-09.pdf 

Fri, 09/28/2012 - 10:54 | 2838850 FoxMulder
FoxMulder's picture

Wait, so is bad back to being bad? Or is bad still good? Is good good?

 

I give up.

Fri, 09/28/2012 - 10:58 | 2838874 Ying-Yang
Ying-Yang's picture

Kind of like my youngest son telling me his current girlfriend is "Real Bad"? I don't know if I need to slap him upside the head or pat him on the po-po.

Fri, 09/28/2012 - 10:28 | 2838715 LMAOLORI
Fri, 09/28/2012 - 10:36 | 2838753 JPM Hater001
JPM Hater001's picture

I wish he were depressed- maybe he would stop working so hard to screw us all.

Oh, you mean the economy.

Fri, 09/28/2012 - 10:56 | 2838862 Manthong
Manthong's picture

Cue Bernanke, the Black Knight..

“It’s only a flesh wound”

http://www.youtube.com/watch?v=zKhEw7nD9C4

Fri, 09/28/2012 - 11:08 | 2838935 depression
depression's picture

Carter - Stagflation , Iran Hostage Crisis

Obama - Stagflation, Iran Nuclear Crisis

Fri, 09/28/2012 - 10:04 | 2838563 FL_Conservative
FL_Conservative's picture

The Fed only THOUGHT they had control.

Fri, 09/28/2012 - 10:34 | 2838740 LMAOLORI
LMAOLORI's picture

 

 

They do have control Central Banks love debt so they have control of making you into a debt slave

Fri, 09/28/2012 - 10:39 | 2838768 MachoMan
MachoMan's picture

This is why they got out ahead of all the recent bad numbers with QE X...

Fri, 09/28/2012 - 10:11 | 2838613 aint no fortuna...
aint no fortunate son's picture

thank GAWD it's all priced in!

Fri, 09/28/2012 - 10:14 | 2838623 slaughterer
slaughterer's picture

All right, who here stole my hockeystick bull-gasm QE3 rally?

Fri, 09/28/2012 - 10:00 | 2838533 ihedgemyhedges
ihedgemyhedges's picture

MAN OVERBOARD!!!!!!

Fri, 09/28/2012 - 10:20 | 2838658 SelfGov
SelfGov's picture

Blood sky in the mornin'
Shoulda seen the warnin'

Captain to the Seaman
Man your battle stations
Poseidon's on a mission
'Bout to turn it up to eleven

Captain to the Seaman
Assume crash positions
Toss the extras over
About to take on water

Fri, 09/28/2012 - 10:25 | 2838684 JPM Hater001
JPM Hater001's picture

+1 cause Im a boater.

Fri, 09/28/2012 - 10:01 | 2838542 Debtonation
Debtonation's picture

Obviously everyone just needs to get out there and buy an iPhone 5.

Fri, 09/28/2012 - 10:05 | 2838575 EscapeKey
EscapeKey's picture

...and put it on the credit card.

What we need is MORE DEBT!

Fri, 09/28/2012 - 11:12 | 2838954 RSBriggs
RSBriggs's picture

Actually, the iPhone5 is boring.  I'm going to wait and buy a Nokia Lumia 920....

Fri, 09/28/2012 - 10:02 | 2838543 Number 156
Number 156's picture

Market panic in 3...2...1..

Fri, 09/28/2012 - 10:02 | 2838553 mayhem_korner
mayhem_korner's picture

 

 

What was the print on the "thuggery index"...it's a big component of Chicago's economy, I hear.

Fri, 09/28/2012 - 10:08 | 2838592 yogibear
yogibear's picture

Add 30% for the Chicago unions and political machine.  It's the cost of doing business.

Fri, 09/28/2012 - 10:03 | 2838555 slaughterer
slaughterer's picture

QE-KITCHENSINK will fix this.  What me worry? 

Fri, 09/28/2012 - 10:26 | 2838694 JPM Hater001
JPM Hater001's picture

2 out of 3?

 

Sad we split the decision...I expected Thusday to be much more like Friday.

Fri, 09/28/2012 - 10:37 | 2838759 slaughterer
slaughterer's picture

Double or nothing for the close today.  I am calling GREEN.  You are calling RED.

Fri, 09/28/2012 - 10:40 | 2838778 fonzannoon
fonzannoon's picture

if it is green put me down for gold above 1800

Fri, 09/28/2012 - 10:56 | 2838864 fuu
fuu's picture

You think gold is going over 1800 today?

Fri, 09/28/2012 - 11:04 | 2838905 fonzannoon
fonzannoon's picture

If the market closes green I think gold could outpace the market. I don't know that I am in the closing green camp though.

Fri, 09/28/2012 - 12:22 | 2839255 fuu
fuu's picture

Fair enough.

Fri, 09/28/2012 - 12:05 | 2839168 JPM Hater001
JPM Hater001's picture

This time we'll call 2 oz of silver swapped on the other side of the collapse at the first annual ZH convention.

Good luck Mortimer.

Sat, 09/29/2012 - 00:39 | 2841092 Urban Roman
Urban Roman's picture

Voting you down for being wrong.

... not that there's anything wrong with being wrong ...

Fri, 09/28/2012 - 10:32 | 2838733 spastic_colon
spastic_colon's picture

i plussed ya for the kitchensink thing

Fri, 09/28/2012 - 10:03 | 2838556 bigdumbnugly
bigdumbnugly's picture

The good news: you can now completely ignore anyone and everyone who told you over the past 4 years, that the economy was improving.

 

maybe so.  but that doesn't rule out the hope and change promised for the next four does it?

does it?

d...

never mind

Fri, 09/28/2012 - 10:30 | 2838692 spastic_colon
spastic_colon's picture

if obummer wins he can just blame the last adiminstration.......oh wait

Fri, 09/28/2012 - 10:04 | 2838559 101 years and c...
101 years and counting's picture

no need to fret.  mortgage rates at 3.25% instead of 3.4% thanks to money printing v3.0 will surely solve everything.

Fri, 09/28/2012 - 10:09 | 2838604 mayhem_korner
mayhem_korner's picture

 

 

I understand Lambroghini is now offering 0% financing.  Think that will boost sales?

Fri, 09/28/2012 - 10:27 | 2838700 JPM Hater001
JPM Hater001's picture

Im waiting for zero.  Trends tell me we will hit it shortly...

Or was that going to be the value of our money...

I'll have to noodle that one for a while.

Fri, 09/28/2012 - 10:03 | 2838560 Sutton
Sutton's picture

I bought a Blackberry.  Did I damage the economy?

Fri, 09/28/2012 - 10:06 | 2838580 EscapeKey
EscapeKey's picture

You're clearly a terrorist.

Fri, 09/28/2012 - 10:07 | 2838589 mayhem_korner
mayhem_korner's picture

 

 

Did you "buy" it outright or finance it through a 2-year carrier plan?  Kinda like when people say they "bought" a house...

Sat, 09/29/2012 - 00:43 | 2841099 akak
akak's picture

I can't imagine what one single blackberry is good for.

I still find them tasty in any quantity, though.

Fri, 09/28/2012 - 10:05 | 2838564 dwdollar
dwdollar's picture

I for one, would like to see QE4 alongside the open-ended nature of QE3. QE3 is like a LTS operating system that will be around for awhile, but we can still upgrade to QE4, QE5, and QE6 in the meantime!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

Fri, 09/28/2012 - 10:07 | 2838583 the not so migh...
the not so mighty maximiza's picture

yeah that is it.... QEIV double layed on top of QE infinity, yeah.. that will work.

Fri, 09/28/2012 - 10:10 | 2838609 mayhem_korner
mayhem_korner's picture

 

 

Mr. Kotter says that the Federal Reserve's credit rating is an "F-plus, and the plus is for encouragement"...

Fri, 09/28/2012 - 10:30 | 2838721 JPM Hater001
JPM Hater001's picture

http://youtu.be/tUYqwR1vc5Q

Here is Change long before Obama.

"We need a better Drummer!"

(For those interested it's Welcome Back Kotter material)

Fri, 09/28/2012 - 10:14 | 2838626 monogratis
monogratis's picture

Too bad it's not like Star Wars... where at least we know Episode IV, V, and VI are going to be awesome....

Fri, 09/28/2012 - 10:14 | 2838624 alfred b.
alfred b.'s picture

 

      Bernanke:   OK, who's got the keys to the chopper??

 

 

 

 

Fri, 09/28/2012 - 10:05 | 2838568 LawsofPhysics
LawsofPhysics's picture

Let's see, how did we get out of this in the 70's? We raised rates.  Go ahead motherfuckers, raises rates again, I double dogs dare you, you stupid cunts.

Fri, 09/28/2012 - 10:14 | 2838625 CrashisOptimistic
CrashisOptimistic's picture

It will be a very long time, LoPdood, before people realize the issue of it requiring more BTUs to get a barrel of BTUs out of the ground than it ever has before -- and this is and always has been the engine behind all activity -- and economics is and always has been bullshit.

Buy farmland, if you can find anyone fool enough to trade it for dollars -- or gold.  Nothing but farmland has any value.

Fri, 09/28/2012 - 10:45 | 2838805 MachoMan
MachoMan's picture

I'm not sure why you keep harping on farmland so much...  most people can grow a sufficient amount of their nutritional needs on a suburb lot (.2 ac).  The other issue is that should farmers become too successful, they'll be met with...  more than a few political hurdles (firing squads/redistribution). 

The only thing you need to know is that prudence will be punished.  If you can mitigate the appearance of your prudence, then power to you.

PS, farmland is selling for dollars all day, every day...  and it will continue to do so...  stagflation puts necessary ceilings on the commercial value of farmland in that margins get squeezed to the point where price increases in the land can no longer be justified.  Grow all the food you want, but if no one can afford it...  We're getting close to the point where margins are nil (far better yields can be had in other endeavors). 

Fri, 09/28/2012 - 10:48 | 2838821 LawsofPhysics
LawsofPhysics's picture

Good luck defending that surburban lot when everything goes bidless and the dollar dies.  Have your tribe in order bitches and go long sharecropping.

Fri, 09/28/2012 - 10:56 | 2838860 LawsofPhysics
LawsofPhysics's picture

BTUs is a bad measure.  Use calories or Joules.  How many Joules are invested compared to how many Joules are recovered.  BTUs varies depending on the molecule.

Fri, 09/28/2012 - 21:05 | 2840640 jerry_theking_lawler
jerry_theking_lawler's picture

LoP, Again with the BTUs....joules, calories and btus are all interchangeable.....they are all units of energy.

please review your physics books....next think you will say is there is no such thing as 'fossil fuels'. (abiotic oil).

Fri, 09/28/2012 - 10:18 | 2838645 Quinvarius
Quinvarius's picture

The banks are not in a position to survive a rate raise.  If there was a rate raise, it would only be for the public.  Banks need free money.

Fri, 09/28/2012 - 10:05 | 2838569 asteroids
asteroids's picture

Any number generated by a government agency must be taken with a huge grain of salt thanks to constant lying by BLS. There is no penalty for lying. I expect the real number to be much worse than this.

Fri, 09/28/2012 - 10:08 | 2838570 Dagny Taggart
Dagny Taggart's picture

Just thank goodness the Fed has had a GOOD fiscal year and are in a position to carry on....  /sarc/

As a side note, perhaps someone should inform the Daily Beast that the Fed is NOT part of the Federal government? http://www.thedailybeast.com/articles/2012/09/25/how-the-fed-has-earned-...

Fri, 09/28/2012 - 10:05 | 2838572 yogibear
yogibear's picture

Prices are going much higher. Especially in food considering the drought. With QE to infinity and dollar devalution we should be seeing some major double digit inflation in the future.

The government cant and won't report the true CPI because so many obligations are tied to it.

Bernanke and the fed can't pull liquidity, it would tank the stock market. 

Major stagflation. 

Fri, 09/28/2012 - 10:54 | 2838810 LawsofPhysics
LawsofPhysics's picture

damn.  Will be worse than stagflation because interest rates can not be raised (as they were in the 70's)  everything on a "market" will go bidless while everything else of real value will be hoarded (not sold at any price), hence the hyperinflationary death of the dollar.

 

Without a viable capital market that accurately prices capital (reflected in interest rates or the true cost of capital) it is game fucking over, that is where we are, nothing like the 70's.

Fri, 09/28/2012 - 17:30 | 2840158 RiverRoad
RiverRoad's picture

They've got stagflation in Europe.  Apparently it's catchy. 

Fri, 09/28/2012 - 10:09 | 2838582 Cursive
Cursive's picture

This news is bittersweet.  It openly refutes the lies that TPTB (Fed, Prez, Congress, MSM, etc.) have been spreading for years, but it also reminds us that a SHTF moment is rapidly approaching and innocent or knowledgable people who tried to avoid this crisis will be affected by it.  The Fed never had control; it created the illusion of control and a loose confederacy of stock market operators and commodity brokers/traders helped the Fed promote that illusion while the USG paid people not to work and funded EBT cards.  The end of that illusion is upon us.

Fri, 09/28/2012 - 10:29 | 2838696 GCT
GCT's picture

Therein lies the rub Cursive.  We never left and the problems never went away.  You can bet there will be no call of recession before the elections no matter how bad the numbers coming in are.  Obama will get reelected and we will continue down this road.  The Fed can dump all the money it likes, unemployment is not going to change unless your looking for part time work or lower paying full time work. 

What boggles my mind is the sheeple will buy into this illusion of it is different this time.  It is not different we just have better propaganda machines and easier credit.  Truth be known, the EBT stats are probably grossly underestimated as well.  The SHTF moment will not happen until we either go broke trying to support the economy or benefits start getting cut.  Price inflation will only effect those not on the government teat.  The government can always increase the amount on the EBT cards.  The elderly, people scratching out a living not on some government program will take it in the ass as they will at some point in time no longer be able to support themselves or their families.  Wallah most will end up like the rest on some sort of program as the Fed destroys our currency and could care less about employment and instead is bailing out thier buddies and the politicians that got us to where we are today. The Fed's statment of QE until employment is better is just more smoke and mirrors to bail themselves out.

I think a war will be started to cull the herds of sheeple.  Those that remain may wish they had died when certain parts of the world will no longer support life as we know it today. 

Fri, 09/28/2012 - 10:08 | 2838600 fonzannoon
fonzannoon's picture

Maybe this is finally the big moment. Now, like zh said, everyone can call total bullshit on the economic recovery and the fed supposedly helping. Maybe the fed finally says they are out of bullets and they were firing blanks all along. They stop buying bonds and rates inflict reality on people. Nah.

Fri, 09/28/2012 - 10:14 | 2838614 the not so migh...
the not so mighty maximiza's picture

Ben B is fucked, keeping the goverment in business requires destroying its citizens.

Fri, 09/28/2012 - 10:09 | 2838603 PUD
PUD's picture

Don matta..Obama by ma cell phone!

Fri, 09/28/2012 - 10:15 | 2838630 Quinvarius
Quinvarius's picture

The messed up thing is that the government really is buying them cellphones.

Fri, 09/28/2012 - 10:09 | 2838605 youngman
youngman's picture

But the people are still happy..confident...all is la la land....see the Michigan sentiment index....what the hell....I guess they will change their mind when the pink slips a commin....

Fri, 09/28/2012 - 10:54 | 2838831 Non Passaran
Non Passaran's picture

True, but unfortunately all Obama cares about is to hold this shit together till the election day. 

Tragedy is it won't be any different if the sectarian wins.

 

(OT: http://finance.yahoo.com/news/us-postal-default-second-5b-075128932.html?l=1)

Fri, 09/28/2012 - 10:13 | 2838622 rsnoble
rsnoble's picture

Ok, so what time does the Fed cued relief rally come in today?  One of these days this shit is going to blow up in their fucking faces and I can't wait. Of course I think most of us have done died with anticipation already.

Funny, markets not even down a hundred and it's labeled "sheer panic".  What will they call several multi-hundred down days? End of the world? LMAO fuck these clowns.

Fri, 09/28/2012 - 10:21 | 2838663 DeadFred
DeadFred's picture

It's end of the quarter. the plot line said there would be a big ramp up today

Fri, 09/28/2012 - 10:28 | 2838710 RSloane
RSloane's picture

The new plot line is 'people are just taking their profits because everyone is making sooooo much money!11!"

Fri, 09/28/2012 - 11:18 | 2838979 RSBriggs
RSBriggs's picture

Everybody is trying to front run the day-after the end-of-the-quarter to lock in some profits....

Fri, 09/28/2012 - 10:16 | 2838633 RSloane
RSloane's picture

There have been other indices re manufacturing that have been printing in the negative for three consecutive prints. They were ignored, as will this.

I honestly don't believe this a harbinger of stagflation. I think the Fed is praying for stagflation to hold. There is a pause right before cars filled with screaming people plunges headlong down the roller-coaster rails. The Fed keeps moving the rails until there is metal fatigue and they break. I think that's where we're at right now.

Fri, 09/28/2012 - 10:19 | 2838654 fonzannoon
fonzannoon's picture

Yeah this is even stranger than a rollercoaster. At least you see ahead of you. I went snowboarding in whistler once, was above the tree line and it was snowing. Could not see shit. I stood up to look and quickly crashed into someone. I told them to be careful. They said "you were the one moving". I thought they were being sarcastic. Two seconds later someone else crashed into both of us and told us to be more careful. I think thats where we are at. Hitting brick walls at 50mph and never seeing a thing.

Fri, 09/28/2012 - 10:23 | 2838671 RSloane
RSloane's picture

Yup a great description. Either way we are not stagnating, we are rapidly moving towards great pain.

Fri, 09/28/2012 - 10:30 | 2838718 fonzannoon
fonzannoon's picture

I agree and it is what makes me think I will wake up one day and put on cnbc and the screen will be blank with the emergency broadcast signal beeping with a message stating the president will be making an unscheduled announcement soon.

Fri, 09/28/2012 - 10:38 | 2838765 Let The Wurlitz...
Let The Wurlitzer Play's picture

You still watch CNBC ?

 

Fri, 09/28/2012 - 10:41 | 2838787 fonzannoon
fonzannoon's picture

volume off

Fri, 09/28/2012 - 10:29 | 2838717 DeadFred
DeadFred's picture

In two days the support for the post-QE downtrend crosses the support for the summer uptrend. The market is safe from catastophe until then. Hope everyone has a nice weekend. :)

Fri, 09/28/2012 - 10:39 | 2838775 RSloane
RSloane's picture

We're going fishing. Maybe we should take more fishing poles and bigger coolers. Have a great weekend Fred. :)

Fri, 09/28/2012 - 10:25 | 2838678 dobermangang
dobermangang's picture

BRB.  I'm going to Aldis to buy more canned food.  Got food?

Fri, 09/28/2012 - 10:25 | 2838680 Meesohaawnee
Meesohaawnee's picture

but but CNBC told me that QE was "stimulative".? they dont lie do they? oh well i guess 4 trillion just doesnt get what it used to. transitory..

Fri, 09/28/2012 - 10:54 | 2838690 John Law Lives
John Law Lives's picture

"It also means that both the Manufacturing ISM and Q3 GDP will be a total disaster."

I would never underestimate The Man's ability to fudge the data and lie to us all.  I am also anticipating the MSM will try to spin all economic data reported before the POTUS election.

Fri, 09/28/2012 - 10:27 | 2838697 khakuda
khakuda's picture

Now Ben can act all surprised and wonder why having followed the Japanese playbook, nothing is improving.

Let's create inflation, impoverish savers for decades to impair capital formation, create tons of fiscal and monetary uncertainty and regulation, then wonder in amazement why good things aren't happening.

Fri, 09/28/2012 - 10:29 | 2838711 HD
HD's picture

"The central bank cartel is starting to lose control."

Ah, music to my ears...

Fri, 09/28/2012 - 11:11 | 2838945 khakuda
khakuda's picture

The scary part is that they don't know they've lost control.  They will now just dive further into the desperate moves category to show us all that they are right and we didn't go to Princeton.

Fri, 09/28/2012 - 11:24 | 2839006 HD
HD's picture

Sad but true mate.

Fri, 09/28/2012 - 10:28 | 2838713 CheapBastard
CheapBastard's picture

Usually by the time the Fed acts they are already 6-12 months too late.

Fri, 09/28/2012 - 10:38 | 2838764 Conman
Conman's picture

At least its very clear now why Bernanke and gange went all in QE+kitchen sink. Q is when do the equity markets get that this time the shit is about to hit the fan.

Fri, 09/28/2012 - 10:45 | 2838808 russwinter
russwinter's picture

Will Markets Go Overnight From ‘Don’t Fight the Fed’ to ‘Pushing on a String’?

http://www.wallstreetexaminer.com/blogs/winter/?p=5463

Fri, 09/28/2012 - 10:45 | 2838811 markar
markar's picture

bbbbut FB is up almost 6% today. Certainly things must be getting better?

Fri, 09/28/2012 - 10:50 | 2838833 nameless narrator
nameless narrator's picture

the chicago fed president is known as an uber DOVE (what are bubbles?).  why do you believe any of the government stats?  maybe the chicago fed's president wanted to publish contractionary numbers in order to have cover for his desire to QEternity.  wouldn't you expect a given fed bank region to produce data that supports its own president's monetary policy opinions?

 

Fri, 09/28/2012 - 10:55 | 2838857 Jumbotron
Jumbotron's picture

There must be some kind of way out of here

Said the Joker to the Thief

Fri, 09/28/2012 - 11:22 | 2838994 Whats that smell
Whats that smell's picture

"a pony has to be in here somewhere" the small boy said

Fri, 09/28/2012 - 11:02 | 2838898 swissaustrian
swissaustrian's picture

head and shoulders chart ^^

Fri, 09/28/2012 - 11:06 | 2838924 Snakeeyes
Snakeeyes's picture

Combine the Chicago report with yesterdays' durable goods orders CRASH and BURN and we have a disater on our hands.

http://confoundedinterest.wordpress.com/2012/09/28/this-is-a-recovery-manufacturing-shrinks-to-lowest-level-since-oct-2009/

Fri, 09/28/2012 - 11:14 | 2838963 justintime
justintime's picture

Whens O gonna get his War? These numbers are NOT good for his re-election. They can't wait til after the US election now, right?

Thats what this country needs to get it pumped. A commone enemy. [sarc] inbedded.

Fri, 09/28/2012 - 11:19 | 2838976 JS2012
JS2012's picture

Why do I have a vision of The Bernank in a stiletto bra singing,

 

"We are living in a nominal world, and I am a nominal girl!"?

Fri, 09/28/2012 - 11:25 | 2839012 q99x2
q99x2's picture

CNBC says consumer spending rebounded thanks to higher gasoline prices. Talk about spin.

Fri, 09/28/2012 - 11:43 | 2839080 Temporalist
Temporalist's picture

And in related news, driving a nail into your skull through both temples has an immediate cooling effect on the brain.

Fri, 09/28/2012 - 11:57 | 2839118 depression
depression's picture

According to the Axe (David Axelrod) these negative data points are the direct result (fault) of the Republican Congress for not passing Obama's Job's Recovery bill designed to hire/save 100,000 teachers and first responders (labor union jobs).

Like last week, MSM will ignore these negative data points and focus on buoyant consumer confidence and spending numbers, and how they relate to the 10 point lead Obama has in "key battleground states" (oversampling of the Democratic vote not withstanding).

MSM spin: Improving Economy = Happy Voters = 10 point lead in polls

Fri, 09/28/2012 - 12:38 | 2839301 gnomon
gnomon's picture

Pravda should have taken lessons from our MSM.  The Soviet Union would still be intact.

Then again, maybe not, for the Russians were not so dulled by drugs nor bribed by ever-growing entitlements.

But all of that ends when our Reserve Currency dies.

Fri, 09/28/2012 - 12:50 | 2839321 NewWorldOrange
NewWorldOrange's picture

"The central bank cartel is starting to lose control."

Starting? Very generous of you Tyler.

Fri, 09/28/2012 - 13:18 | 2839391 Son of Loki
Son of Loki's picture

Consumer sentiment gains to four-month high in September(Reuters)

 

http://finance.yahoo.com/news/consumer-sentiment-gains-four-month-135836...

 

It's unreal. Simply unreal.

 

 

Fri, 09/28/2012 - 16:55 | 2840029 sink critically
sink critically's picture

Economic indicators are easy to spot if you know where to look. I stopped by the thrift store today, prices are up 100% from 2009. No matter how much the fed doles out to their bankster butt buddies, when people at the lowest end of the socioeconomic scale can no longer afford to clothe and feed themselves we've reached the end of the line folks. It's all downhill from here until there's a new game to play.

Fri, 09/28/2012 - 17:36 | 2840177 RiverRoad
RiverRoad's picture

Stagflation:  "This is the way the world ends; this is the way the world ends; not with a

 

/Edit.

Fri, 09/28/2012 - 18:07 | 2840266 eurusdog
eurusdog's picture

The world is taught to follow more "popular" economic indicators. This won't make any sense to anyone away from the markets. More iPhones please!

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