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One Of These Charts Is Not Like The Other

Tyler Durden's picture




 

Today's Sesame Street market moment is brought to you by the word "hope" and by the number '-0.025%'. For the last five months, Goldman notes that the US equity markets have rerated their economic growth view as hope remains for a future full of unicorns and faerie-fart-powered autos. However, the reality is that, as Goldman's macro-economic Swirlogram shows, that the data is no longer indicating expansion and in fact in December shifted into a 'slowdown' mode. Once again we are left, as we head into earnings season where headline numbers have been slashed to make the bar low for beats (but stocks have not re-rated yet), with a divergence between macro (and micro) reality and the nominal equity index implied reality that so many managers hope is true.

 

Hope... As equity market's nominal price indicates an upward re-rating of economic growth expectations...

 

And Reality... with the expansions phase ebbing and Goldman's macro tracker now slipping into the slowdown phase...

 

Source: Goldman

 

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Tue, 01/08/2013 - 10:27 | 3132624 becky quick and...
becky quick and her beautiful mouth's picture

that second chart looks like a black hole.

Tue, 01/08/2013 - 10:30 | 3132638 buzzsaw99
buzzsaw99's picture

it is lloyd blankfein's asshole

Tue, 01/08/2013 - 10:51 | 3132744 Dick Buttkiss
Dick Buttkiss's picture

You mean it is Lloyd Blankfein.

Tue, 01/08/2013 - 11:08 | 3132807 Manthong
Manthong's picture

The US is the Saudi Arabia of CNFF (compressed natural faerie farts).

Tue, 01/08/2013 - 14:10 | 3133457 WhiskeyTangoFoxtrot
WhiskeyTangoFoxtrot's picture

Or a drain, which seems appropriate.

Tue, 01/08/2013 - 10:36 | 3132656 slaughterer
slaughterer's picture

I do not know about this recessionary swirlogram:

MON jiust beat massively

ATT jut announced record smart phone sales

NFLX is over $100 on more contracts with content providers

AMZN broke abover $260 on record 4Q sales.

Just sayin, the momo is there...

Tue, 01/08/2013 - 10:37 | 3132659 buzzsaw99
buzzsaw99's picture

AMZN broke abover $260 on record 4Q sales. lulz lulz lulz

Tue, 01/08/2013 - 10:39 | 3132664 BobPaulson
BobPaulson's picture

The apparent limit cycle there might just be a teeny little squiggle if youi plot the data going back further in time. One year of data would be easy to dismiss as seasonal variation.

Tue, 01/08/2013 - 10:28 | 3132628 hugovanderbubble
hugovanderbubble's picture

Spain to suffer Debt Haircuts

France to be downgraded

 

Greece to exit Euro - Drachmas coming

Tue, 01/08/2013 - 10:37 | 3132658 Sudden Debt
Sudden Debt's picture

Any drunk will tell you that when you drink alcohol, you're fine untill your piss isn't yellow anymore.

Now for the greeks and spanish dudes... they're already pissing pure alcohol.

NO MORE DRIVING ON THE EUROPEAN HIGHWAY FOR THEM!

Tue, 01/08/2013 - 10:30 | 3132631 GetZeeGold
GetZeeGold's picture

 

 

that second chart looks like a black hole.

 

It's a swirlogram......same thing.

Tue, 01/08/2013 - 10:39 | 3132666 francis_sawyer
francis_sawyer's picture

It's a 'swirlie'... It'll be the last thing Tim Geithner sees before his head goes underwater...

Tue, 01/08/2013 - 10:29 | 3132633 AccreditedEYE
AccreditedEYE's picture

Close your eyes, hold your breath, don't read any truth or untruth, just.... Buy The DIP. You buy it... or, it buys you.

Tue, 01/08/2013 - 10:30 | 3132635 tooriskytoinvest
tooriskytoinvest's picture

TRADER ALERT: Powerful "Indicators" Suggest A Stock Market Selloff And Inflation Could Be Just Around The Corner And More Market Experts Start Getting Worried. NOW The Fed Is Showing Financial Fear!

http://investmentwatchblog.com/trader-alert-powerful-indicators-suggest-...

Tue, 01/08/2013 - 10:31 | 3132642 AccreditedEYE
AccreditedEYE's picture

1st of all, I seriously doubt it. 2nd, even IF it were true, I'd buy it and buy it BIG.

Tue, 01/08/2013 - 10:33 | 3132646 buzzsaw99
buzzsaw99's picture

+1

Tue, 01/08/2013 - 10:34 | 3132652 Cognitive Dissonance
Cognitive Dissonance's picture

Which one doesn't belong in line?

<Recovering Imus fan from way back in the 70's.>

Tue, 01/08/2013 - 10:52 | 3132750 smlbizman
smlbizman's picture

i have never cared for imus, but the other day my channel wheel landed on his channel and i thiught it was an old woman sitting there...his her was all curled and poofed out and his face has doubled in size...it was scary....and i base this on i have not seen this guys face for 2yrs maybe...

Tue, 01/08/2013 - 11:42 | 3132941 Cognitive Dissonance
Cognitive Dissonance's picture

I have not bothered with Imus in well over 5 years. But the bloated face might have something to do with his Prostate cancer and its treatment.

Tue, 01/08/2013 - 10:35 | 3132654 Itch
Itch's picture

Anyone ever wonder how rumors seem to be denied about 2 seconds after weak longs have been flushed? Its a funny old world.

Tue, 01/08/2013 - 10:38 | 3132662 Blackfox
Blackfox's picture

Offtopic but crazy ......

Pregnant South African women are deliberately drinking large quantities of alcohol to harm their unborn babies in a bid to earn more welfare money, it has been claimed.
Expectant mothers living in the Eastern Cape, one of the poorest areas in South Africa, are bingeing on a 'moonshine' type drink which contains battery acid - with some drinking up to five and six bottles a day.
It has been reported they do it to claim a disability benefit from the government - using their disabled children as a source of income.

http://www.dailymail.co.uk/news/article-2258589/Horrifying-story-pregnant-South-Africans-deliberately-binge-drinking--welfare-babies-harm.html

Words fail me.

Tue, 01/08/2013 - 10:43 | 3132699 Dr. Engali
Dr. Engali's picture

Equity markets....funny.  So the squid  thinks equities are over valued...we know what that means.

Tue, 01/08/2013 - 11:11 | 3132818 NoDebt
NoDebt's picture

Wait a minute.  It takes only one year to go full circle around the "swirlie"?  That's one damned fast business cycle.

Tue, 01/08/2013 - 11:20 | 3132854 AccreditedEYE
AccreditedEYE's picture

Actually, the Fed has done away with the business cycle. Goldman had to invent this to make muppets think it is actually concerned about a drop in risk assets AND that a business cycle even exists. It's not and it doesn't.  Here's a dip... please excuse me, I have to go buy it.

Tue, 01/08/2013 - 11:56 | 3132985 AgAu_man
AgAu_man's picture

Maybe it will improve if/when you include the economic and health impact of the seawater desalination plant for the San Diego area, that an 'raeli company was awarded to build.

Tue, 01/08/2013 - 11:59 | 3133004 TrumpXVI
TrumpXVI's picture

Swirlogram; an apt allegory for the flushing toilet bowl that is our economy.

Wed, 01/09/2013 - 03:20 | 3135512 yang46
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