Global Slowdown Accelerates Driven By Confidence / New Orders Plunge

Tyler Durden's picture

Goldman's 'Swirlogram' places the global industrial cycle squarely in the 'Slowdown' phase as growth momentum fades rapidly. Driven by plunges in aggregate confidence levels and New Orders (less inventories) - as well as CAD and AUD data - this reinforces last month's preliminary view of a slowdown beginning. Goldman notes we could potentially see weaker global activity over the coming months. Is it any wonder we are seeing bellweather names missing in a big (un-unique) way.


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Croesus's picture

Leave it to Goldman Sachs to state the obvious.........but I wonder, will the opposite of their forecast be true, or does that only apply to the advice they give paying clients?

localsavage's picture

From what I am seeing on my end and with talking to vendors, orders are down and the best anyone can say is that they hope it will pick up soon.  Hope in my opinion is the key word.

Fukushima Sam's picture

That whooshing sound you hear is the economy being flushed down Goldman's swirlogram.

Stuck on Zero's picture

The plot does resemble the path of a floater in the toilet bowl during a flush.


knukles's picture

You know, it's ever so disconcerting when south of the equator where water swirls the other way to watch your poops flush backwards.

Gromit's picture

Off to Buenos Aires in a couple of weeks....I'll check it out.

machineh's picture

Bring fresh hundred-dollar bills ... get 8.5 pesos per dollar on the grey market (vs official rate 5.1).

Gromit's picture

May take my coin collection also....

knukles's picture

Lemme get this in perspective.
All the "normal" (as in irrational) forecasters are looking for 3% growth.
The reality versus those forecasts is 1.5% growth.
So if the Swirl-o-Gram's predictive powers are anything as in suggesting the 3% goes to 1.5% then the reality of it is the 1.5% goes to 0%
Emboldened with the continual cuts in taxes, huge real returns on savings, no inflation, plentiful jobs, ebullient consumer confidence, manifest political leadership at all levels, significant curtailment of waste, theft and fraud by all governmental entities guaranteeing the delivery of double the level of services at half the costs and the reallocation of financial resources away from non productive financial means, separation of commercial and investment banking and serious legal actions taken against the bankers and their friends, we can be sure that the animal spirits of the American Consumer will rise above all elde, leading thje world to a new and bountiful awakening.

Fuckin' Awesome.
Hand-jobs all around, boys!


Why the fuck even pretend anymore?
It sucks and is gonna get worse because nobody is doing a damned thing to make it better.
Perhaps the homeless mole people savages in the NYC underworld might start by eating a certain economist....

Raynja's picture

will she at least spit on it so i can pretend its a blowjob?

monopoly's picture

That was perfect knukles, just perfect. +1

Seer's picture

For years I've been saying that growth is dead.  This is all based on the core/fundamental fact that we cannot have perpetual growth on a finite planet.  This last bubble IS the last wad.

The only thing left to do is what we HAVE to do, and that's to reassess how we live.  LESS will be the direction.  It was always going to be.  And NO money printing or set of "policies" is going to alter our projection.  This is the slinky down the staircase, it's what I refer to as "economies of scale in reverse" (the good news is that a lot of materialistic crap is going to go away; the bad news is that most people that are "employed" today are making that crap)

Tijuana Donkey Show's picture

Here in America, waistlines grow every day, so growth isn't dead, it just has high blood pressure, diabetes, and a Rascal runabout.  

MrTouchdown's picture

"Hope", in my opinion, is a four letter word. So is "Fair".

TrumpXVI's picture

And "hope" is not a plan.

Motorhead's picture

Swirlogram, bitchez!

Renewable Life's picture

There must be some real sweet smelling shit, buried in the fine print at these Cyprus banks, Because they are setting this up as the "end of the world" scenerio!!!!

These motherfuckers are going to steal 40% of the wealth in uninsured accounts and then freeze everyones money across the board for weeks if not months, with the exception being you can withdraw 160 Euro a day!! Holy shit, things MUST be soooooooo much worse then we can imagine, or these guys are suicidal! if you had 90,000 euro in a insured savings account, it would take you a fucking year to withdraw half of it, with these capital controls!!!!

I'm Bullish riots and dead bankers and police in Europe!

Seer's picture

"Holy shit, things MUST be soooooooo much worse then we can imagine"

That's what I figure.  These aren't, contrary to what many would like to believe, stupid people: what they say might sound stupid; but, remember that it is THEY who have been in power and have controlled things (who is the bitches?).  If the answers only come down to one of being stupid or desperate I'd suggest the later.

We've peaked.  That's All Folks!  This thing was never programmed to handle reverse, especially in high speed.

slightlyskeptical's picture

I personally think there are many multiples of stated shares of stock long, offset by many multiples of shares short just waiting for this occasion. There is going to be some serious carnage, i'll Cede you that.

Cognitive Dissonance's picture

It looks like the Fed's QEx.x "Liquidator" missile has reversed course and is headed back our way. Women and children to the life boats.

<To the Batcave Robin.>


toys for tits's picture


You're right.  That is one of the Apollo test rockets.

Atomizer's picture


The curve represents another batch of faulty Chinese bottle rockets. ;>)

glenlloyd's picture

I think it's going to spend a lot of time down in the lower half of that swirlygram....

BlueCheeseBandit's picture

Time for daddy to get some ass.

ronaldawg's picture

"Don't do me like my daddy did me." - Polly Klaas

Cangaroo.TNT's picture

Boy, what a class act you are.  Pure trash.

Cangaroo.TNT's picture

Boo hoo... I was junked by a pedophile. 

HF Critic's picture

Agreed. Polly was 12 when she was abducted and later murdered. Keep this sick shit in your own deranged head, mofo! 

SheepDog-One's picture

Nothings been fixed since S&P 666, in fact far worse, while markets have been artificially pumped to disguise the scam. This time when it implodes it's for reelz.

NoDebt's picture

That's what I refer to as my "nightmare scenario".  I've mentioned it a few times here.  What if the Fed has the throttle wide open and we go into recession anyway?  We've FORCED a business cycle recovery every time for the last 30 years by lowering rates and increasing liquidity.  Now we're at the floor on that tactic- ZIRP and QE4EVA.  What's left?

That's when what SHOULD have happened starting in '08 may just happen anyway, with everyone powerless to stop it.  It's when even infinite liquidity is insufficent to cover up insolvency.

What happens then is anyone's guess.  Might be deflationary death (less likely), might be hyperinflationary death (more likely), but in either case the nominal changes will no longer be able to disguise the real, as they have for several years now.  I also agreed that whatever happens will likely be more extreme than what would have happened starting in '08 if we had not undertaken the last 5 years of monetary insanity.

In short, up arrow.  Surprised nobody else has jumped in on your comment.


slightlyskeptical's picture

Serious defaltion when it all blows. There will be no money left, only debts.

sandiegoman's picture

There are great arguments for both the inflation camp and the deflation camp. I just can't get my head around which one it will be!

Seer's picture

Thanks for reminding people of the reality.

Yes, not a fucking damn thing to alter any of this has changed.  The reason?  The System cannot DO "reverse."  Forgot to ask the algos what happens when growth is no longer possible.  The severely stretched rubber band is going to be snapping back, 666 here we come... and there it gods, as we wiz by it.

Atomizer's picture

Ask yourselves, What is the diminishing returns from each $1 of new debt in US economy?


Time capsule article:

Guest Post: Debt Saturation And Money Illusion

Submitted by Tyler Durden on 05/04/2011 15:55 -0400

Run the present-day numbers. Is Uncle Ben really creating recovery? I think not!

Bernank’s QE in action.

Seasmoke's picture

they do not call it a death spiral for nothing

ziggy59's picture

Goldmans swirlogram looks like their daily pump and dump client suggestion trading graph...

Just say'n

stant's picture

dr copper has spoken

notquantumdum's picture

That is a scary looking chart.

notquantumdum's picture

It reminds me a little of what NYT looked like back in 2004 before I started trading long put positions on it.  Check this chart:

But, it is the new normal.  Who knows what will happen.

notquantumdum's picture

'Long on the puts, that is.  Not, the underlying.

Seer's picture

Hey!  Just BTFD and all will be fine!  Dips are good, and there are dips EVERYWHERE!   BULLISH!

buzzsaw99's picture

Don't worry about goldman, they got plenty.

Dareconomics's picture

The Markit Eurozone Flash PMIs were released, and they confirm GS' view as far as Europe is concerned.

monopoly's picture

And the above and what will occur going forward is all due to our corrupt, scum Bankers and CEOs, now and past. They will haunt us till we die. Had we never given in and kept the:

GlassSteagall Act 

Then maybe a lot of the carnage would never have happened. For then banks loaned money at reasonable rates, with good collateral, and they made a small profit between bid and ask. But no. They had to rule Washington, Wall Street and turn into the scum of the earth. Well, they have their cars, houses, boats, clothes and jets. And it bothers none of them what they have destroyed. Because scum have no heart, no conscious and could care less about other people. May they all rot in Hell.

notquantumdum's picture

'Good question.

I have been wondering this same thing for almost a decade.

'Bill Clinton to blame (as much as any one other politician?  'Signed Glass-Steagall's quasi-reform-repeal into law -- with a buch of other dems and repubs.)

But, it still seems a little hard to be sure, at least to me.  It's a little hard to tell exactly what to blame the most given the huge number of inter-related causes, it seems.
I hugely attribute this to fannie, freddy, HUD, Et. Al. due to attempts to "subsidize" various market sectors.

When ever the govt' trys to make something more affordable in a formerly more-free market, the opposite always seems to occur, historically.

Did Glass-Steagall’s reform/repeal make it worse, or was it more like pouring gasoline on an already burning fire, thus making more intense in the short run, but causing the fire to otherwise burnout more quickly if no more wood is added?

If there is pain to be endured, I would much prefer getting it over with immediately to minimize the suffering, but the politicians always seem to do the opposite.

notquantumdum's picture

And the, of course, they added even more wet wood to the fire, and it seems it is just starting to start smoking hard again in the prelude to . . .