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Major US CEOs' Outlook On Rising Jobs, CapEx Worst Since Early 2010

Tyler Durden's picture





 

Despite the plethora of propagandist panderings, the reality of the Business Roundtable (BRT - an association of chief executive officers of leading U.S. companies) findings are far less enthralling than the headlines might suggest. In fact, despite the protestation that their economic outlook ticked up - which as the chart below shows so evidently - is merely a reversion to the lows of 2011; the sad 'fact' is that expectations for higher Sales, CapEx, and Employment are as bad as they have been since early 2010. CapEx, the much-vaunted miracle driver of revenues this year, is below Q4 2009 levels of expectation. Even the BRT itself offers up the words 'moderate' when describing the changes and yet the mainstream media pounce on an uptick like cardinals to the new Pope. It appears that we will have to wait another quarter to see what the CEOs of the nations largest companies are really doing as their stocks soar to record highs.

The BRT CEO Economic Outlook in context... back at the lows of the pre-crisis and post-crisis 2010 lows - and as is very clear, the hope in the blue lines continues to be dragged back to reality of the economy (green line)...

 

and in more detail - across the various findings, the expectations for improving Sales, CapEx, and Employment has one trend... and its not up...

 

Charts: Bloomberg, Business Roundtable

 


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Wed, 03/13/2013 - 15:17 | Link to Comment Cognitive Dissonance
Cognitive Dissonance's picture

"The greatest invention of the last 2000 years is the (fiat) printing press." - Uncle Ben

<Oh.....and helicopters.>

Wed, 03/13/2013 - 15:22 | Link to Comment El Viejo
El Viejo's picture

Weren't they from Detroit??

Love that motown sound Do WOP  WOP WOP WOP WOP ...

Wed, 03/13/2013 - 15:20 | Link to Comment Jason T
Jason T's picture

smells like staglation.. or even deflation!

Wed, 03/13/2013 - 15:27 | Link to Comment The Invisible Foot
The Invisible Foot's picture

Don't ruin my QE buzz man!

Wed, 03/13/2013 - 15:27 | Link to Comment rubearish10
rubearish10's picture

Defy logic so BUY!

Wed, 03/13/2013 - 15:31 | Link to Comment JustObserving
JustObserving's picture

Since when did CapEx matter when the Fed was printing $85 billion a month?

Wed, 03/13/2013 - 15:32 | Link to Comment kevinearick
kevinearick's picture

Drugs & Money:  Boeing, Microsoft, & US Navy

The empire pays you to fail; the more people you keep busy, to preserve the status quo, the more free money you get. The problem with diverting money from the military to social programs is that it accelerates empire discharge, deleveraging, exacerbating the social deficit.

The American middle class has been living off a growing global slave population, and the global demographic insurance ponzi is collapsing. The Fed prints $100B in a week and the reported federal deficit for a year is $1T+. Where do you suppose the difference is? Take a look at the actuarial leverage over time versus money supply.

Boeing can’t deal with backlash and its stock goes up? What do you suppose backlash will look like in the cloud? How often do you expect it to occur? What is cash flow? What is NPV? What is the value of Buffet’s monopoly? Why is the majority feeding Buffet instead of its own children? Keep loading those rail cars with oil.

Pensions are a ponzi disguised as a safety net. Empire monopoly is a game played by adults that never graduated from the terrible-twos, selling out their own parents and children on the excuse of pensions and in favor of the manufactured majority, who did the same, expecting to win a game that all eventually lose. Why would anyone start a business inside a global black hole designed to consume it?

Keep the Dream(liner) alive. Two-yr-olds are persistent; cram as much credit down their throats as they will consume, but you can only drive so much dc into a black hole. You cannot assume a relatively open system inside of an empire, which is why all the local technicians are chasing backlash for “profit” and getting further behind.

Replacing the labor that designed the technology with cheaper labor is pretty damn stupid, but the empire majority does it every time. That is the nature of office politics. A lawyer requires an accountant, an accountant requires a bank, and a bank requires free money. The law is whatever a political judge says it is and what goes around comes around. What is camping? Treat people like machines and define the corporation as a person, brilliant.

The ocean may prescribe the land, and its laws, but, relative to the universe, it is a tiny drop in a very small bucket. If you can wire up to the universe, why would you concern yourself with the cost of extracting energy from fossil fuel?

Labor is overrated, overqualified, right? That is the argument the US Navy, and its make-believe admirals, is trying to prove, whether they know it or not. Good luck with that. How many times can McCain fail and make a profit? What is your definition of success? How far is it from nature?

Most women are prideful, ride their man until things get difficult, dump them, blame them for everything, and get another. Pretty soon the majority of men are doing the same thing, homosexuality spikes, and the empire implodes. That is History, but who wants to hear that?

Steal from others, add Latin, teach others, and call yourself a rocket scientist, in a university system built for the purpose. The majority and its gossipy way is the snake in our little story of Adam and Eve.

Of course America is a drug dealer; stupefying the population is the only way to square the circular books. Dig those holes potheads, enable Benny’s printing press, and bitch, on your way to the churn pool, same as ever. How’s that for new age mystification?

The majority disciplines the minority, for better or for worse. Discipline yourself beyond the law or majority peer pressure anxiety will do it for you.

Wed, 03/13/2013 - 15:56 | Link to Comment Cognitive Dissonance
Cognitive Dissonance's picture

Wow!

Did you bring enough of your drugs to share with the rest of the class?  :)

Wed, 03/13/2013 - 16:00 | Link to Comment kevinearick
kevinearick's picture

where do you suppose I am now? (hint: watching holes being dug, from which BMWs emerge)

Wed, 03/13/2013 - 17:30 | Link to Comment dlfield
dlfield's picture

Too Kazynsiish.  So probably true.

Wed, 03/13/2013 - 15:43 | Link to Comment Bingfa
Bingfa's picture

Tax Prof: Obamacare tax increases are double original estimate....

http://www.economicpolicyjournal.com/2013/03/tax-prof-obamacare-tax-incr...

 

Just wait a few more months until the next estimates come out.

Wed, 03/13/2013 - 16:19 | Link to Comment de3de8
de3de8's picture

Literally, death by a thousand cuts.

Wed, 03/13/2013 - 16:22 | Link to Comment Tombstone
Tombstone's picture

Who cares what the big company CEO's are doing?  Most jobs come from small business hiring and the creation thereof.  And government has done all it can to stifle the little guy.  But wait, we have Uncle Benny cranking away, everyday, and who's to say he isn't pumping more than $85 billion/month into whatever.  He's gotta support the stock market, buy bonds to keep the deficit rolling higher, bail out housing when that peaks and crashes again, cover his naked shorts on gold, cover JPM's naked silver shorts, bail out Europe, bail out pension funds, bail out sugar producers, keep some powder dry to bail out China when its RE market crashes....it's a never ending list.  My guess is Benny's tab is closer to $150billion/month or even more, and like the DOW, steadily rising. 

Wed, 03/13/2013 - 18:18 | Link to Comment IridiumRebel
IridiumRebel's picture

So the lady who was gonna buy my house lost her job today. We lost the sale. How's that for a "market barometer"? We are fucked. I am fucked. This country is fucked. How is that for ANALysis?

Thu, 03/14/2013 - 01:40 | Link to Comment Pike Bishop
Pike Bishop's picture

Jobs?

Corporations don't hire people when they are making huge profits. They hire people when they see a ton of customers coming.

It's about time to admit the theoretical religious beliefs that giving corporations and wealthy money creates jobs is utter horseshit. It just creates corporations with huge cash hordes and wealthier wealthy.

Thu, 03/14/2013 - 07:41 | Link to Comment JMT
JMT's picture

The unemployment rate has been falling and will likely end this year under 7% and will be back under 5% by 2015... 

Huge Profits have been driven by huge revenues.  Retail sales have been booming especially online retail sales which this site conveniently didn't mention when it spun the strong retail report to doom & gloom. 

Thu, 03/14/2013 - 07:41 | Link to Comment JMT
JMT's picture

The unemployment rate has been falling and will likely end this year under 7% and will be back under 5% by 2015... 

Huge Profits have been driven by huge revenues.  Retail sales have been booming especially online retail sales which this site conveniently didn't mention when it spun the strong retail report to doom & gloom. 

Thu, 03/14/2013 - 07:41 | Link to Comment JMT
JMT's picture

The unemployment rate has been falling and will likely end this year under 7% and will be back under 5% by 2015... 

Huge Profits have been driven by huge revenues.  Retail sales have been booming especially online retail sales which this site conveniently didn't mention when it spun the strong retail report to doom & gloom. 

Thu, 03/14/2013 - 07:40 | Link to Comment JMT
JMT's picture

The unemployment rate has been falling and will likely end this year under 7% and will be back under 5% by 2015... 

Huge Profits have been driven by huge revenues.  Retail sales have been booming especially online retail sales which this site conveniently didn't mention when it spun the strong retail report to doom & gloom. 

Thu, 03/14/2013 - 08:18 | Link to Comment JMT
JMT's picture

So the lady who was gonna buy my house lost her job today. We lost the sale. How's that for a "market barometer"? We are fucked. I am fucked. This country is fucked. How is that for ANALysis?

 

Do you believe that?? These 'ass cuses' are what I call contrived or in less PC terms Bullshit. It is like saying that you didn't get the job because the position is 'on hold' or they hired an 'internal candidate'. Again Contrived or Bullshit. 

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