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Kansas Fed Joins NY, Philly And Richmond Fed In Contracting; Employment Index Drops To 2009 Levels
We are now four-for-four (five-for-five if we include the drastic downward revisions in the Chicago PMI) for regional Fed business outlooks taking a serious (and consistent) turn for the worse. Kansas Fed manufacturing just missed expectations turning negative once again. Amid the sub-indices (which were broadly weak) was a plunge in employment as it fell to August 2009 levels. This weakness in Kansas follows Richmond's quadruple dip, Empire State's weakness, and Philly's major miss and in aggregate suggests a very weak ISM to come. Of course, all of this flies in the face of today's US PMI which beat expectations and pushed to recent highs.
Kansas City Fed Employment Subindex...
and combined with the other real-time surveys points to considerable weakness to come in ISM...
(h/t @Not_Jim_Cramer)
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But it's different this time.
NOTHING, absolutely NOTHING, will cause this "market" to sell.
+ SP500 = 1500 -- What chu complainin 'bout?
+ Bad News -- There is no such thing as "bad news."
+ AAPL -- Old News -- BTFD
+ AMZN's PE=3,583 (that's four digits) -- Its different this time.
+ Unemployment -- Who cares? We have credit cards.
+ Debt Ceiling -- I'll gladly pay you Tuesday for a Kahuna-Burger today"
+ Sandy Storm -- Puts people to work to clean up the mess.
+ China vs. Japan -- What's a little argument between long time "friends?"
+ N. Korea -- Nuclear waste? -- Puts people to work...
+ and...
+ and...
Bottom line is that we have an unlimited amount of paper and ink with which to print "promissory notes."
What's that? Sorry, I was thinking old school. We have an endless amount of 1's & 0's to add to the accounts of the primary dealers.
bernanke kicked tylers ass.............shit i'm not supposed to talk about individual fights, my bad
"So... bullish, right?" -- David "Balls to the Wall" Tepper
Kansas City Fed. Not Kansas. It's in Missouri.
Thanks for the BBQ reference.
This stock market bobble pop will be epic. Bring out your Umbrellas, it will be raining bankers in NY soon.
I'm more bearish than ever. Acceleration in velocity is a force of physics to be reckoned with, and as that applies to the actual economy, the most reliable data demonstrates macro degradation is occurring at the fastest pace since 2008.
As an OT aside (I don't know where else to put this, sorry), Frontline's Martin Smith, who reported on the Lanny Breurer/DoJ inaction on bringing forth prosecution of Wall Street/Banking entities, has tweeted that the Department of Justice has essentially blacklisted him & told him they would no longer cooperate with Frontline because of his, and I quote (his words), "hit piece:"
Martin Smith: Frontline - "Well, The justice department called and siad they thought it was a hit piece, that I came with an agenda and that they will never co-operate with us in the future."
yes, Egan Jones already got their gag order.
Where's the top? Overbought and at highs not seen since 2007, and aggregate average value / time equal to highest DJIA ever! Somehow the market is still clinging, where's the dip??? Bring it!
Yes sir, huge bubble in process. When this one pops, it'll be messy like a busted Stay-Puft Marshmallow Man. Buy the dip, never short. Watch the big guys because they will be poppin' parachutes before the next crash. 5-10 year cycle, been five already.
Correct. Gravity has been suspended by decree. Good luck with that and hedge accordingly because when the supply lines break and the real producers of essential goods and services can no longer provide those goods and services the brown-shirted TSA agents will be coming to force them to do so. Now where in the history of the world have we seen this before? Hhhmmmm...
It's the final Ponzi
Why didn't they just estimate it?
And STILL, the stock indices holding on to their gains. Insanity.
DavidC
market hit 1500, it is now crashing (1499)
Yes. But it isn't a profit until you book the sale. Speaking of which, excuse me...
But wait...stocks are pressing multi-year highs. They must know someting we don't.
Just another excuse to print even more money to make sure we have an epic equity bubble before it's all over.
...but...but...but the S&P 500 at 1500 proves all things are peachy keen... right?
FUBAR.
P.S. I love that image of the KC Masterpiece BBQ sauce on the ISM chart. Classic humor!
Just amazing...a rally in the markets...?????? I see no economic reason....none....and adjusted unemployment number?????.....something stinks...
But wait, what's her name on CNBC's "Fast Money" is saying the markets are doing great because of the "global recovery" and the low unemployment claims?
Valuations aren't stretched, multiples are low, etc., etc. etc.
Scott VWAPner talking about the "strong markets sending a signal".
Thankfully they had Gina Adams on to put some wheat germ in their cotton candy.
They had sad faces like kids who were told they can't have another lollipop.
Poor things :-( But are they sad? No!!!
It's 2007 all over again!
Party on!
Mandy is a great "Talking Head."
She's also good at giving ...
Except the bimbo rarely speaks in any discussions, at least when the convo gets too fast for her writers to put shit on her TelePrompTer.
She's not there to talk. She's definitely not there for her brains.
http://www.youtube.com/watch?v=zfvzs_k2Jos
"Move along. These are not the droids statistics you're looking for." - Obi-Wan Bernanke
fucking brilliant Cog...thanks for the chuckle (yes, I do laugh)
I aim to please.
<Mrs Cog would be happy if I just aimed for the toilet bowl.> :)
Ramp stocks.
Which cup is the pea under ? Nope, not that one, nope, not that one.
Who cares about fundamentals. Some day, they will really be better.
DuPont (DD) CEO says sees slow growth, lots of caution BUT WHAT THE FUCK DO THEY KNOW
arrest that man... thought crimes against our dear leader
kansas fed negative?
that should be good for 50 dow points to the plus side, 5 s&p points and 20 nasdaq points. lol what a joke
we can only hope this is like 2007 again where everything seemed great in the market and it just all comes crashing down, but hopefully next time the fed wont be able to do anything
It is just like 2007/2008.
Market goes higher as the un-adjusted economic data gets worse.
(except now we have every bank in the world pumping out funny money with a water cannon...so the crash will take a little longer)
Not trying to put a very subtle point across here my friends, but this could be the time that we could reflectively sort this dire situation out. We could end this cyclical, perpetuating nonsense out once and for all, and stop any unforseen problems to de-rail our forward march into eternal prosperity.
Lets hang these fuckers. Hang the bastards till they is cold dead.
And, problem solved, (sort of).....
cleary bullish, another Weekend at Bennie's...
That's great news. Now where's the dip so I can buy.
the dips are buying...
That's nice BS employment number, why not put out the "number of employed". Because, it would be going very negative and not support their BS agenda.
The Leading Imaginary Indicators and Government Statisticians will calculate this as growth, no doubt.