The Hopium Is Now Depleted

Tyler Durden's picture

Hope - it appears - peaked at the start of the year in the US, following the global coordinated central bank pump which ramped it from lows to highs within a few months. All that hope - and then some - has now apparently faded. The General Business Conditions expected six months forward dropped to its lowest level since March 2009. What is perhaps worse, given the focus on jobs jobs jobs, is that for the first time since April 2009, the employment outlook for employment turned negative - suggesting firms are looking to reduce employees at the fastest rate in over three-and-a-half years. The hopium seems to have been depleted...




Date: Bloomberg

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So Close's picture

I'm givin her all I can capin!

aint no fortunate son's picture

You're doing great scotty... was it you that just jacked up the EURUSD on the news, or Captain Ben?

slaughterer's picture

There is a sexy Princeton post-doc currently doing a biography of the Bernanke with total access.   They were seen playing chess together at the Marriner Eccles VIP lounge playing footsie under the table.   Word is that the Bernanke is re-thinking his tenure as Fed Chairman with the convenient sex scandal red card.   

TrumpXVI's picture

Any more QE & Hopium and the dilithium crystals are gonna' BLOW!

mrktwtch2's picture

fine but we will bounce today..

GMadScientist's picture

Yo-Yos don't actually "bounce", they're pulled up by the friction on the string.

Beam Me Up Scotty's picture

Im waiting for the baseless rumors that the Fiscal Cliff has been resolved to make the algos ramp like rumors that Europe has been fixed did.  Those should start flying in the not to distant future too.

HedgeAccordingly's picture

the "walk away" sell off .. no one getting short.. just exiting altogether 

new game's picture

dirty shirt, dirty needle; just not looking good....

firstdivision's picture

Bernak is sexting women now in hopes of having to resign before there's a fire sale on pitch forks and torches.

fuu's picture

He could just sign one of the secession petitions and get deported. As a hedge to the sexting thing.

edifice's picture

It'll be like prospecting for gold in the 19th century... The guys who sold the supplies made all the money. Long pitchforks and torches. Hedging with tar and feathers.

HurricaneSeason's picture

And go on his $100,000 an hour speaking tour before the dollar loses half it's value and he cant buy a million acre ranch outside the country. He was crying after the election because he "won" and it wont be fun.

bania's picture

This wouldn't happen if we used dihopium crystals.

TheSilverJournal's picture

Hope might be gone, but this bursting of this bond bubble will bring lots of change...

edifice's picture

The "Recovery" is the largest dead-cat-bounce... Ever...

OneTinSoldier66's picture

It's what happens when the money changers manage to hoodwink the entire world into being on irredeemable fiat currencies, have banks backstopped by government, have a free-for-all debt-is-money credit expansion, and then deem it all as being TBTF. This gives bankers the capability to blackmail nations into submission, hence...


Banker: "Bail me out, again and again if necessary, so that I get my multi-million dollar bonus or I guarantee your economy will crash!"


Politician: "Yes master. Need to drop Mark-to-Market or Generally Accepted Accounting Principles? I can help you do that master. Anything you want my master. QE3Infinity or whatever you need my master!"


The TBTF banksters, who own the government, have made certain they get their FDIC Government Insured Bonuses no matter what happens!

TwoHoot's picture

Didn't the Obama people suspend the rules for announcing layoffs before the election? Businesses are just catching up with what was planned but not announced.

Urban Redneck's picture

The rules requiring the announcement of pending or even possible cuts for Gov, contracts are still suspended until the fiscal cliff is passed and cuts become official.  So we're not even playing catchup yet...

swissaustrian's picture

Manufacturing and employment is for the Asians.

Printing is the name of the game for the Western World.

madcows's picture

um, Japan has more treasury debt than we do. 

Quinvarius's picture

I am compelled to comment...BTFD!

Zero Govt's picture

"..firms are looking to reduce employees at the fastest rate in over three-and-a-half years.."

nothing to do with the Congressional tax and insurance tsunami on its merry way in 2013

you can always look to the bloated parasites in DC for help towards enterprise in a recession

Cursive's picture

Less employment --> less work -->  less productivity -->  less goods and services --> smaller economy.


The "New" Normal, brought to you by an avalanche of debt and pulled forward demand.

Timmay's picture

Agreed. "Win the Future" was more like "Spend the Future".

HurricaneSeason's picture

90% of the worlds hopium comes from Afghanistan.  There will be a shortage when we pull out and the Taliban burn the crops.  The new hopium will come from California, Colorado and Washinton State. Good jobs compared to road resurfacing costs and solar panel costs.

tradewithdave's picture

Don't give up hope now.  We're still working on a plan for the cats now that the people's pensions are taken care of. Never fear... Homer Simpson Bowles is here.  "Dough" will follow soon.

Winston Churchill's picture

Is depleted hopium the artillery round for piercing bull shit ?

Seems to work well.


Barry Mcokiner's picture

Do they have hopium salts?

adr's picture

We move from Hopium to Forcium. You will be forced to buy stocks or the money will be taken away from you.

If you don't have a balance on your credit card, it will be added unless you buy stuff.

Hope is always followed by the point of a gun.

SKY85hawk's picture

Links, please!

ObooBoo will be seen to be relatively ineffective from here on.


Rip van Wrinkle's picture

General Business Conditions expected six months forward dropped to its lowest level since March 2009


But, but, wasn't that when the recovery started? And doesn't it mean that things can only get better from now on? O'Bamy said everything was fixed.

Shizzmoney's picture

The system is crumbling. 

The punditocracy, paid by their elitiest overlords, refuse to acknowledge it. 

Corporations, whose only reason for survival is by abusing the system, refuse to acknowledge it.

Workers, who are over stresssed due to the over-finanicalization of their economies, stick their heads in the sand, refuse to acknowledge it. 

Central banks, who flood the system with worthless money that never hits the hands of the people, refuse to acknowledge it. 

Money is the lifeline of any stable economy.  The currencies of the world, are dirty, sick, and corrupt.....and no currnecy moreso than the US Dollar.

The Mayans talked about when the 13th Baktun ends that "the world would shift".  Terrence McKenna predicted that the world speeding up would eventually lead to a explosive crash. The 4th Turning is coming. 

Hedge accordingly.


slaughterer's picture

Silver bitchez! ...   Uh wait.  Nevermind.  

wagthetails's picture

as negative as i am...the charts say to BUY BUY BUY.  wish i leveraged everyhing i owned to buy stock in march of 2009. 

but i still think this is different.  we won't pop back from this so quickly.

Shizzmoney's picture

The "effect" of QE on stocks wanes each times they do are right that in 2009, 2010....that stocks were a BUY and those with the capital/on the inside made a killing.

However, the returns on stocks have waned from QE 1 to QE 3 to now.......and at some point, even the money printing and monetizing the debt cannot overcome the wave of fail the corportocracy has reaped for themselves.

expatincentam's picture

For all the whacked out, "holier than thou," pox on all their houses libertarian commenters here at zerohedge, some words from a Frenchman worth contemplating.  As a fellow traveler on the tiny libertarian train, there is much of substance here.

TO THE VARIOUS BRANCHES OF LIBERTARIANISM, whether followers of the cranky Dr. Ron "The Bane of the Fed" or hipsters swapping commodity traders’ jokes on Zero Hedge as they wink-wink-nod-nod "wait for the Titanic to sink". You who decided against opposing the Eurobama Project rather than banking on the R&R ticket who, despite all its shortcomings (whether real, perceived or invented) would nevertheless have been far more receptive to most Libertarian ideals and would have been easier to steer in the directions you favor than the Chicago Machinist will ever be, here is an enigma:

Have you ever heard about the French Libertarian Party?

Me neither. True, there’s a couple of pretenders to the title, but they are merely social clubs, where every now and then attendants get a tingling in the pants by quoting good old Ludwig Von Mises and Claude Frédéric Bastiat between connoisseurs. Their true distinctive feature when compared to the other French is that they won’t even bother entertaining any delusion of grandeur or relevance—they know they have no place in the French political process, and no chance to ever gain one.

So hear this, Friends of Gary the Third Party and other Principled Abstentionists: by choosing ideological purity over strategic thinking, you’ve effectively hedged your own political future in the one competing force that is most capable of propelling you into irrelevance and oblivion—as we say in France: Bravo!

Just as in France, once a majority of the US population—no matter how slim—has tasted the poisonous fruits of the State, they will demand the keys to the cornucopia and regard with disdain, scorn or hostility any soul brave or foolish enough to call it unsustainable and propose to lock the larder. The fact that you are right will not matter at all. Just as they do in France, the people will ask for more and tout de suite, never realizing or willing to acknowledge that they are effectively cannibalizing themselves and their offspring—as we’ve been saying in France for quite a while: Après moi le Déluge!

Thank in no small part to you, Obama now has more time to multiply the locusts, thus depleting your future ranks. You shall keep fancying yourselves as The Smart Ones, when compared to those Neanderthaloid Conservatives and Liberal Zombies, until one of you wonders aloud why the lights went off in the Libertarian cave, and hears only the echo in answer.

BlackholeDivestment's picture

Yeah, if you voted for Rosemary's Baby; now turned Masonic (g)od ''Apollyon 2012'' the Gray Horse, getting kicked in the ass, for admitting it, is required from now on. LMAO.