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Raise Your Hand If You Can See The Recovery

Tyler Durden's picture




 

This may be a trick question (especially since it's not a question).

Presenting the year over year change in durable goods ex transports (aka Boeing's fully cancelable orders for flaming lithium- battery powered paperweights aircraft). All we say is we are so grateful for $160 billion in central bank QE each month (soon to rise to $200 billion once Goldman's Mark Carney spreads his tentacles in the Bank of England).

Source: Durable Goods report and/or St. Louis Fed

 

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Wed, 04/24/2013 - 09:11 | 3492308 Smuckers
Smuckers's picture

There must be a fuckload of intangibles out there.

 

Wed, 04/24/2013 - 09:17 | 3492332 freewolf7
freewolf7's picture

Long bartering

Wed, 04/24/2013 - 09:20 | 3492344 TwoShortPlanks
TwoShortPlanks's picture

I can see one, I can see one....oh, sorry, thought you said Retards.

Wed, 04/24/2013 - 09:25 | 3492380 eclectic syncretist
eclectic syncretist's picture

I don't see the recovery, but I do see that JPM got called to deliver nearly a ton of gold yesterday. 

http://www.cmegroup.com/delivery_reports/MetalsIssuesAndStopsReport.pdf

 

Wed, 04/24/2013 - 09:32 | 3492416 LawsofPhysics
LawsofPhysics's picture

How many years to deliver?

Wed, 04/24/2013 - 10:16 | 3492611 Harlequin001
Harlequin001's picture

It's behind you..

Oh no it isn't.

Oh yes it is...

Oh no it isn't.

Oh yes it is...

Wed, 04/24/2013 - 10:34 | 3492706 Leopold B. Scotch
Leopold B. Scotch's picture

Who needs factory orders when you have QEnfinity?

Krugman tells me that a fat stomach from eating the reshuffled seedcorn is materially no different than a healthy crop, so I stopped paying attention.

Wed, 04/24/2013 - 10:37 | 3492727 rqb1
rqb1's picture

Good point Butters

Wed, 04/24/2013 - 11:01 | 3492820 Boris Alatovkrap
Boris Alatovkrap's picture

Boris brother-in-law is work at Distillery outside Minsk and orders is double since 2008. Solid recovery, no!?

Wed, 04/24/2013 - 10:41 | 3492749 I am more equal...
I am more equal than others's picture

There must be a fuckload of intangibles out there.

Aren't intangibles like sexual fantasies?  The idea may be great but in reality you wake up and realize it was just a dream, just a dream (cue REM).

Wed, 04/24/2013 - 11:01 | 3492831 Boris Alatovkrap
Boris Alatovkrap's picture

Does intangible also soil nightwear?

Wed, 04/24/2013 - 11:05 | 3492848 GeezerGeek
GeezerGeek's picture

Or, for boomers, Jimmy Clanton http://www.youtube.com/watch?v=9dYWJjbfiIs

 

Wed, 04/24/2013 - 09:34 | 3492418 GoldForCash
GoldForCash's picture

I don't see the recovery, but I do see that JPM got called to deliver nearly a ton of gold yesterday. 

At least now the silver and gold can go up some...

Wed, 04/24/2013 - 09:54 | 3492516 flapdoodle
flapdoodle's picture

I see one! I see one! Just stand on your head...

Wed, 04/24/2013 - 10:01 | 3492553 OneTinSoldier66
OneTinSoldier66's picture

I just saw some article links on goldseek that say "U.S. Mint Suspends some gold coin sales after demand surge".

 

The mint suspended Silver Eagles sales for bit back in January. Now some Gold. Physical Silver doesn't appear to be plentiful right now either, again. Somehow I don't think I would be surprised if Silver Eagles got suspended soon, once again. I hope people are now able to clearly see the hand they are being dealt. Right now TPTB are offering up a gift, although they are hoping you can't see it and therefore won't take it. I took advantage and went and got a few gifts/goodies yesterday.

Wed, 04/24/2013 - 11:17 | 3492946 Team Lemming
Team Lemming's picture

This should be bullish for tungsten.

Wed, 04/24/2013 - 13:09 | 3493411 lasvegaspersona
lasvegaspersona's picture

one lousy ton????

GLD is leaking 100 tons a month!!! And the rate of leakage is increasing. Lately it has averaged 10 tons a day!!! Now that's what I call delivery. I wonder who is getting it.......could it be China? nah they need 400 tons a month, GLD leakage would be chicken feed to them....

Wed, 04/24/2013 - 09:25 | 3492385 MillionDollarBonus_
MillionDollarBonus_'s picture

Doesn't matter. The S&P chart is pricing in future growth. To long term value investors, this is just short-term noise.

Wed, 04/24/2013 - 09:28 | 3492398 JPM Hater001
JPM Hater001's picture

The only noise here is you.

Wed, 04/24/2013 - 09:30 | 3492401 onewayticket2
onewayticket2's picture

"Growth" of what, exactly?

 

intangibles?  QE? 

 

 

Wed, 04/24/2013 - 09:31 | 3492407 LawsofPhysics
LawsofPhysics's picture

Paper-pushing bullshit and useless Ph.D.s  Neither requires any real work or energy.

Wed, 04/24/2013 - 09:34 | 3492421 Truther
Truther's picture

@MDB...JUST SHUT THE FUCK UP

Wed, 04/24/2013 - 09:53 | 3492507 Blano
Blano's picture

You've been short humor lately.

Wed, 04/24/2013 - 10:15 | 3492610 DeadFred
DeadFred's picture

You would think he'd be better at this. If your job is to put out feel-good blather and you are not constrained by reality you'd think a creative mind would be able to come up with better stuff than this. Maybe he's just having a bad day but his performance review is in jeopardy.

Wed, 04/24/2013 - 10:16 | 3492617 Spastica Rex
Spastica Rex's picture

But long boring.

Wed, 04/24/2013 - 10:26 | 3492672 j0nx
j0nx's picture

Boris says is better troll.

Wed, 04/24/2013 - 10:36 | 3492710 Keynesian Mess
Keynesian Mess's picture

It must be nice to be so blissfully unaware in the face of the worst credit crisis to every hit the planet.  Well someone needs to be left holding the bag.  Here comes your bonus.  (Pay no attention to what I'm doing with my other hand.)

Wed, 04/24/2013 - 10:53 | 3492797 optionsman
optionsman's picture

the decline in this metric is showing for every month for 13 straight months. not a noise. not sure what growth you are talking about in a clearly deleveraging economy? the Fed is trying to offset the effects of deleveraging but thats like administering pain medication to a patient who really needs a surgery. The real solution is debt repudiation where appropriate not a continous debt refinance to move forward point of difficult decisions. Unfortunately debt repudiation would result in reduction of assets on the books of ......the banks. and that of course is the real problem.

Wed, 04/24/2013 - 11:07 | 3492872 GeezerGeek
GeezerGeek's picture

We don't need no stinking growth!

We don't need no stinking recovery!

We got BEN!

Wed, 04/24/2013 - 18:44 | 3495013 StychoKiller
StychoKiller's picture

Au and Oil are recovering in price (again!)

Wed, 04/24/2013 - 09:19 | 3492345 Divided States ...
Divided States of America's picture

According to Cramer, it seems like flash crashes are the norm now and you should take advantage of these 'buying opportunities'. What a fuckin clown. "BEAR STEARNS IS FINE!"

Wed, 04/24/2013 - 09:31 | 3492404 JPM Hater001
JPM Hater001's picture

The rant - http://youtu.be/s3FEKQMtaKY

Why they didnt fire this asshat by now is beyond me.

Wed, 04/24/2013 - 10:41 | 3492719 HardAssets
HardAssets's picture

Fire Cramer ?   Are you kidding ?  Why would they fire someone doing exactly what he's paid to do . . . screw over the little guys that watch him.

That's why they let amateurs play at the tables with pro poker players. The amateurs provide the money. Make it like Vegas with lots of 'entertainment' and the dummies will come back to have their pockets picked some more. Cramer is the same thing, but on t.v.  Thats why they picked a guy with all his antics; amateurs eat that stuff up.

Lesson ended. School out. 

Wed, 04/24/2013 - 10:29 | 3492679 Hippocratic Oaf
Hippocratic Oaf's picture

"BEAR STEARNS IS FINE!"

 

and Lenny Dykstra is a top-5 stock picking talent

Wed, 04/24/2013 - 09:20 | 3492356 astoriajoe
astoriajoe's picture

anyone have a recipe for mead?

Wed, 04/24/2013 - 09:36 | 3492432 Monedas
Monedas's picture

Find a hollow log in the forest .... full of rain water .... and if your lucky .... a drowned rat .... sweep the floor of your uncles barley shed .... throw contents into log .... throw in a piece of honey comb .... cover .... come back in two weeks .... strain brew through a cheese cloth .... enjoy !

Wed, 04/24/2013 - 09:41 | 3492458 gdogus erectus
gdogus erectus's picture

Where's your bar?

Wed, 04/24/2013 - 09:49 | 3492486 Monedas
Monedas's picture

Just a short walk into the Black Forest with Horst Jankowski !

Wed, 04/24/2013 - 10:37 | 3492718 i-dog
i-dog's picture

Reminiscent of Scrumpy ... drink it with a knife and fork.

Wed, 04/24/2013 - 13:29 | 3493520 1C3-N1N3
1C3-N1N3's picture

Boil water and honey -- one quart honey per gallon of water. Skim the layer of goop off the top and cool to room temp. Add champagne yeast. Let sit for 4 to 12 months.

Wed, 04/24/2013 - 09:52 | 3492502 Stoploss
Stoploss's picture

Back to 2000 levels!!

 

FUCK YEAH !!!!

Wed, 04/24/2013 - 10:30 | 3492689 Groundhog Day
Groundhog Day's picture

2001-2002.....Titanic hits iceberg

2007-2009....1st half of Titanic sinks to the bottom of the atlantic

2013-2014--- 2nd half of titanic which was floating like a cork is starting to fill in and sink

 

Does that sum it up?

Wed, 04/24/2013 - 10:44 | 3492758 rqb1
rqb1's picture

Add to that the msm telling everyone that everything is fine and there is no need to get in one of those cold crowded life boats.

Wed, 04/24/2013 - 09:16 | 3492333 GetZeeGold
GetZeeGold's picture

 

 

Do you see the light?

http://www.youtube.com/watch?v=lX5tfRdkoY0

Wed, 04/24/2013 - 09:44 | 3492459 SamAdams
SamAdams's picture

What? Did someone say $160B/mo?  I must have missed something...  Last I checked it was $85B?  Guess I've been distracted with:

  • N Korean boogeyman
  • Boston bombings
  • 2nd ammendment infringement
  • Gold crash
  • Republicans rolling over for Democrats
  • China world bank
  • Cyprus deposit theft
  • Sandy Hoax
  • Wow, this list just keeps going on...

By the way, the economy did recover, these are the good times until the next leg down.  Net trend down is an inevitable result of a money system based on a scam.

Anyone notice the Huffington Post is saying Tameron was influenced by 9/11 thruthers?  If that were true, would he not have targeted those believed to be behind the 9/11 lie?  More propaganda for the American Zombie.  I saw them at the state convention.  They were sure that God would fix the issues in the country if only the party could wrest those "God denouncing" Democrats from office (by securing the Hispanic vote, no less)!  Guess what you delusional idiots, GOD GAVE YOU AND EVERYONE ELSE FREEWILL!  That means he (it) is not going to interfere.  YOU have to take responsibility!!! 

Wed, 04/24/2013 - 09:47 | 3492475 Kayman
Kayman's picture

SamAdams

Japan.

Wed, 04/24/2013 - 10:05 | 3492572 11b40
11b40's picture

"What? Did someone say $160B/mo?  I must have missed something...  Last I checked it was $85B?"  

 

Just for the record, the $160/mo is the total from CB's worldwide, not US only.

Wed, 04/24/2013 - 10:18 | 3492620 LawsofPhysics
LawsofPhysics's picture

"YOU have to take responsibility!!!" -  Individual responsibility is not part of the progressive "education" system that America has had for 40+ years.  It's all about a collective good and collective responsibility (with a relative few chosen owners making huge profits).  See the problem here.

Wed, 04/24/2013 - 09:12 | 3492312 The Second Rule
The Second Rule's picture

Jesus raised his hand to a doubting Thomas, but it had a hole in it.

Wed, 04/24/2013 - 19:32 | 3495198 StychoKiller
StychoKiller's picture

Did he then proceed to back-handing him? (Just kidding)

Wed, 04/24/2013 - 09:14 | 3492314 Capitalist
Capitalist's picture

Quick! get Goldman to create a derivative of New Factory Orders so Bernanke can buy it.

Wed, 04/24/2013 - 09:50 | 3492487 Kayman
Kayman's picture

Sorry, Goldman is too busy finding storage for their physical gold. After all, they told their clients to dump gold.

Wed, 04/24/2013 - 09:13 | 3492315 bania
bania's picture

Stare at the red dashed line and relax your eyes.

Wed, 04/24/2013 - 09:16 | 3492337 Winston Churchill
Winston Churchill's picture

Even looking at it upside down doesn't help much.

Wed, 04/24/2013 - 09:18 | 3492349 Cognitive Dissonance
Cognitive Dissonance's picture

It doesn't help. I still see dead people economies.

Wed, 04/24/2013 - 09:42 | 3492457 SWCroaker
SWCroaker's picture

humph.   It goes "stereo" and i just get a view of a chart that is twice as wide and just as ugly.      I'm doin' it wrong, right?

 

Wed, 04/24/2013 - 09:16 | 3492323 LawsofPhysics
LawsofPhysics's picture

For a relative few (close to the free money supply) I have seen a tremendous recovery, they "own" more properties and businesses than ever before and are setting their children up to take their empires over.  for the rest, not so much.  This should end well.  Long sharecropping and guillotine manufacturing (is that an intangible and not counted in the data above?).

Wed, 04/24/2013 - 09:57 | 3492529 forwardho
forwardho's picture

Assuing that they will be popular in the near future... Yes

Wed, 04/24/2013 - 10:10 | 3492589 LawsofPhysics
LawsofPhysics's picture

They will be "unknown" by the vast majority, just like they are now.

Wed, 04/24/2013 - 09:16 | 3492325 ekm
ekm's picture

Copy/paste from the other post:

 

Equation:

Low Energy Prices = Recovery

High Energy Prices = Piece of shit

 

Crude oil has been in hyperinflation since 2003 when it jumped from $30 to $120 in 2008 and so far with a small relief in 2009, which ...cause some recovery.

 

As a reminder, scientists have not come up with technology yet to convert QE into Fuel and Energy

Wed, 04/24/2013 - 09:18 | 3492338 LawsofPhysics
LawsofPhysics's picture

"price" is irrelevant.  Joules invested and Joules recovered is not.  Now where the hell are those fusion reactors I ordered?

Wed, 04/24/2013 - 09:22 | 3492359 ekm
ekm's picture

A joule from crude oil costs differently from a joule produced by uranium etc etc etc.

 

ALL COSTS ARE LABOR COSTS.

Wed, 04/24/2013 - 09:26 | 3492376 LawsofPhysics
LawsofPhysics's picture

Only because of the Joules that it takes to deliver the Joules produced moron.  Again, the "price" is irrelevant at the end of the day.  It takes more Joules to deliver the Joules produced by uranium etc. etc.

 

Labor is simply a mechanism for turning energy into work.  Don't we teach thermodynamics anymore?  WTF?

Wed, 04/24/2013 - 09:28 | 3492397 kito
kito's picture

Why are you guys so obsessed with Angelina joules??? She is already taken....the fight club actor has her.......

Wed, 04/24/2013 - 09:33 | 3492413 LawsofPhysics
LawsofPhysics's picture

It's the whole package.  Besides, she is not a one-man woman.  Come on Kito, be optimistic.

Wed, 04/24/2013 - 09:53 | 3492503 kito
kito's picture

i bet her energy output is quite high..............

Wed, 04/24/2013 - 10:15 | 3492600 LawsofPhysics
LawsofPhysics's picture

"i bet her energy input is quite high.............." - fixed, hence the need for multiple inputs...

Wed, 04/24/2013 - 09:36 | 3492425 ekm
ekm's picture

By LABOR I mean HUMAN LABOR.

 

We do not pay electricity, we pay the people who produce electricity.

We do not pay crude oil. We pay the people who produce crude oil.

 

A joule produced from a chinese proxy-slave costs a lot less from a joule produced from a GM union workers

Wed, 04/24/2013 - 09:50 | 3492488 LawsofPhysics
LawsofPhysics's picture

"A joule produced from a chinese proxy-slave costs a lot less from a joule produced from a GM union workers"

-----------

Not for much longer troll.

Wed, 04/24/2013 - 09:56 | 3492505 Kayman
Kayman's picture

Not costing joules in vs. joules out is a silly supposition.

An ex-employee of mine runs a haul truck at a coal mine. They move 11 loads of overburden for every 1 load of coal. Should they calculate that they are losing money- tons in vs. tons out ?

If you don't assign a dollar cost to your joules in vs. joules out, you are fucking for virginity.

Wed, 04/24/2013 - 09:59 | 3492541 ekm
ekm's picture

How much does a a joule from a slave cost?

Answer: Just the food to keep him alive.

Wed, 04/24/2013 - 10:13 | 3492593 LawsofPhysics
LawsofPhysics's picture

And what have food and fuel costs been doing over the last 5, 10, 15, years again?

Wed, 04/24/2013 - 10:18 | 3492629 ekm
ekm's picture

You've come back to what I said. COSTS.

 

Costs are higher because crude is traded on MARGIN and money is plentiful, not because there's no crude.

Wed, 04/24/2013 - 10:25 | 3492669 Freewheelin Franklin
Freewheelin Franklin's picture

lol

Marxist economics.  

 

Wed, 04/24/2013 - 10:27 | 3492677 ekm
ekm's picture

I lived marxism. What do you know about marxism?

Wed, 04/24/2013 - 10:40 | 3492737 fonzannoon
fonzannoon's picture

If we are living it now does that count?

Look at everything. Pegged to the wall. Euro/USD Ten Year UST. Crude. The only things that are allowed to move are stocks (up) and gold (down). This is central planning on a level never seen before. Bow down in awe.

Wed, 04/24/2013 - 10:48 | 3492780 Freewheelin Franklin
Freewheelin Franklin's picture

Really? Whedre did you live? Fantasyland? Because there has been no true Marxist Utopia. 

But I merely challange the economics of Marxism. Eugen Bohm Barwerk showed the inherent contradictions and inconsisytencies of Marx's Labor Theory of Value.  

 

https://mises.org/document/996/Karl-Marx-and-the-Close-of-His-System 

 

and attempts to revise the LTV have also failed:

 https://mises.org/journals/jls/20_1/20_1_3.pdf

 

 

Wed, 04/24/2013 - 10:51 | 3492786 fonzannoon
fonzannoon's picture

I don't doubt for one minute that ekm has first hand experience.

Wed, 04/24/2013 - 10:39 | 3492731 LawsofPhysics
LawsofPhysics's picture

Cost driven up because more energy and labor has to be invested.  Circular reasoning works because circular reasoning works eh ekm?  LMFAO!!! 

Wed, 04/24/2013 - 11:13 | 3492916 ekm
ekm's picture

There is a difference between Human Energy and Non Human Energy.

 

1 gallon of gasoline energy = 200 man hours of energy (some say 600 man hrs).

 

Shortage of crude oil would mean more slave labor. This is what really is finite, human labor.

Wed, 04/24/2013 - 11:56 | 3493130 LawsofPhysics
LawsofPhysics's picture

"This is what really is finite, human labor." - Why, because people have stopped breeding?  Try again loser.  Besides, robots can do it better anyway.

Wed, 04/24/2013 - 12:40 | 3493288 ekm
ekm's picture

Back to square one.

Robots need.........ENERGY

 

Humans will have to be forced to go back to slavery style energy input labor

Wed, 04/24/2013 - 14:37 | 3493866 css1971
css1971's picture

You can actually see crude getting more scarce over time but it's difficult if you use USD. The signal is totally swamped by fiat credit bubbles in USD, but you can see the trend when you look at the long term gold oil ratio.

http://www.macrotrends.org/1380/gold-to-oil-ratio-historical-chart

See the big spikes getting lower over time? That's you getting fewer barrels of oil per ounce of gold. Oil is becoming more scarce vs gold whether through supply constraints or demand. Not yet panic time but the depletion is real and the scarcity is coming.

This is just another example of how gold can allow a rational calculation which fiat/credit makes very difficult.

Wed, 04/24/2013 - 10:31 | 3492693 madcows
madcows's picture

Then why are people paying hundreds for stupid little gadgets made with cheap chinese labor? 

The price of something is generally associated with the willingness of the buyer to part with his cash, and the item's availability.

Take treasuries, for example.  They are pretty much worthless.  The Gov can hit Ctrl Print and, shazzam, a new trillion has been printed, at almost ZERO labor cost, yet people are buying them up b/c they think the market is a scam, and the banks are going to confiscate their money.  So, their is willingness to buy them, regardless of the effort used to press a couple computer keys.

Wed, 04/24/2013 - 10:48 | 3492783 ekm
ekm's picture

Because stupidity is the most abundant thing on earth.

Wed, 04/24/2013 - 19:33 | 3495207 StychoKiller
StychoKiller's picture

Just waitin' on you to deliver the plans in yer flying car...

Wed, 04/24/2013 - 09:41 | 3492456 forwardho
forwardho's picture

Also as a reminder;

All the "low price" fuels were pumped out by the 70's

All that is now recoverable is "high price" fuels.

Cheap energy =  oxymoronic

Wed, 04/24/2013 - 09:16 | 3492327 Dr. Engali
Dr. Engali's picture

A problem soon to be fixed when the gubbermint starts including intangibles in their calculations. Welcome to the recovery bitchez!

Wed, 04/24/2013 - 09:26 | 3492361 Ms. Erable
Ms. Erable's picture

I'm forgoing putting gas in the tank and buying groceries this week - intangibles should fill them both in no time at all.

Wed, 04/24/2013 - 09:15 | 3492328 Headbanger
Headbanger's picture

I just turned my monitor upside down and there it is!!

Wed, 04/24/2013 - 09:27 | 3492387 FreeNewEnergy
FreeNewEnergy's picture

Turn your monitor counter-clockwise and it's straight up. Yahtzee!

Wed, 04/24/2013 - 09:16 | 3492329 Shizzmoney
Shizzmoney's picture

"Why aren't they buying anything???????!!!!!11111"

Wed, 04/24/2013 - 09:26 | 3492390 Sudden Debt
Sudden Debt's picture

BECAUSE DHS IS BUYING ALL THE AMMO AND THE AVERAGE JOE'S CAN'T GET ANY!!!

Wed, 04/24/2013 - 10:19 | 3492638 Headbanger
Headbanger's picture

That's why I'm buying re-loads from two older-timers than me at my range for my revolvers

Wed, 04/24/2013 - 09:17 | 3492336 ziggy59
ziggy59's picture

I see it! True, im doing a yoga headstand...

Wed, 04/24/2013 - 09:17 | 3492339 Downtoolong
Downtoolong's picture

$160 billion in central bank QE each month

Where else would they be able to get the margin to short more gold?

Wed, 04/24/2013 - 09:29 | 3492399 Sudden Debt
Sudden Debt's picture

yeah, but they can undo everything in 15 minutes if they want to so that's nothing to worry about...

Wed, 04/24/2013 - 09:33 | 3492422 rubearish10
rubearish10's picture

Well, if you count BOJ, BOE and SNB it's closer to $230 BILLION a month! Forward looking, yes!

Wed, 04/24/2013 - 09:17 | 3492343 buzzsaw99
buzzsaw99's picture

What I see is that people are buying cars and not much else. I guess financing is still easy for autos but the CCs are maxed out.

Wed, 04/24/2013 - 09:23 | 3492364 Cognitive Dissonance
Cognitive Dissonance's picture

My next door neighbor just brought home a brand spanking new one ton truck with extended cab and all the frills. He traded in his 10 year old rust bucket. Now he gets to run down to the 7-11 for coffee in style and the US economy gets another .00006 seconds of life support. :)

Wed, 04/24/2013 - 09:25 | 3492377 Sudden Debt
Sudden Debt's picture

the way disposable income is dropping, 7-11's will become a classy joint, so it makes perfect sense that you need a classy ride to go there

Wed, 04/24/2013 - 10:32 | 3492702 Croesus
Croesus's picture

Long 7-11 Date Night!

 

Wed, 04/24/2013 - 09:57 | 3492532 The Second Rule
The Second Rule's picture

Yeah, but I betcha he still gets hit up when one of his friends needs to move.

Wed, 04/24/2013 - 09:58 | 3492537 Kayman
Kayman's picture

If it's a GM it is financed with your money.

Wed, 04/24/2013 - 10:22 | 3492649 Cognitive Dissonance
Cognitive Dissonance's picture

It's funny but I have not taken notice of the brand. All I see is BIG, Black and Chrome.

Wed, 04/24/2013 - 16:10 | 3494332 marathonman
marathonman's picture

Your neighbor is either very wealthy or heavily indebted because those one ton trucks are expensive these days.  Thanks Uncle Ben.

Wed, 04/24/2013 - 09:26 | 3492388 JMT
JMT's picture

I decided to make with my 2008 Honda Accord EX with 51,000 miles it that is in perfect condition even though I constantly get offers to trade in for a new 2012.. I may be one the few people who will pay off a 60 month car loan early -- only 4 more payments. When I took the loan in 2010, the finance guy told me it can actually hurt your credit if you pay the loan off too quickly.  Only financed $12,000 and paid the remainder I think about $8,000 cash. My credit wasn't good so best rate was 11.75% with parent cosigning

Wed, 04/24/2013 - 09:48 | 3492461 FreeNewEnergy
FreeNewEnergy's picture

I bought a 1997 Checy van in 2009 for an even grand. Has 128000 miles and the V-8 engine purrs like a hungry lion and sucks up octane at an extreme rate. However, I've spent a total of $400 on parts and repairs over the past FOUR YEARS, and, despite the high cost of fuel, I'm still way ahead, especially when one considers the utility of such a vehicle. I've carted all kinds of stuff from sales, curbs, and stores that would have otherwise required delivery. Firewood, furniture, potted plants, multiple people (some with multiple personalities, so an added bonus), junk for the scrapyard, etc.

An ex-GF laughed when she saw my van, because she's got a 2009 Pathfinder, a supposed utility vehicle. When we needed to cart off a huge load of bins full of stuff for a garage sale she was having at another friend's place, she stopped laughing when I loaded 24 of them into my van while her "utility vehicle" managed to squeeze in a whole eight of them.

To me (maybe to you, though your mileage may vary) status isn't how new or shiny your vehicle is, but what it will do and at what cost.

My dad, rest his soul, used to tell me, "it's not always how much you make, but how much you spend." Word.

Wed, 04/24/2013 - 09:54 | 3492518 Tebow
Tebow's picture

Why didn;t you just buy a car for $8,000 or less with the cash you had and never make a single payment to the banksters? Oh, thats right your trying to build up your credit. Good call!

Wed, 04/24/2013 - 10:01 | 3492548 Kayman
Kayman's picture

JMT

Mark of a slave- a credit rating. Another tool to control the masses.

Wed, 04/24/2013 - 10:07 | 3492576 Hundred Dollar Bonus
Hundred Dollar Bonus's picture

People often fear a low credit rating like the plague...I would try to drive mine to zero if it weren't for the chance that I might search for a job some day and the employer could check.

Wed, 04/24/2013 - 11:11 | 3492903 Croesus
Croesus's picture

@ Kayman:

EXACTLY! The whole thing is a sham. My credit score is high, but I have no debts. Whenever I've talked to anyone about getting a loan for anything in the past, the hesitancy on their part has always been about the fact that I have no revolving debt.

My point to them is the fact that: Since I don't own anyone money, doesn't that make me MOAR credit worthy? In other words, it'll be easier for me to repay the loans, since I'm not on the hook to anyone else.

The opposite is true. In "bankster-thinking", if you have debt that you can service, you are "a better debtor" than someone who is free and clear.

"Credit" = DEBT

Thus, the idea is to "max out your debt".

For me, that is the only confirmation necessary, to prove that the ENTIRE BANKING SYSTEM IS ABOUT NOTHING OTHER THAN SERVITUDE.

 

Wed, 04/24/2013 - 10:19 | 3492630 buzzsaw99
buzzsaw99's picture

When I took the loan in 2010, the finance guy told me it can actually hurt your credit if you pay the loan off too quickly...

kukz, yeah, that would be terrible. you might never get another loan if you pay it off early. [/sarc.] the finance guy is full of beans, you did the right thing paying it off early.

Wed, 04/24/2013 - 09:29 | 3492396 Tebow
Tebow's picture

Don't forget higher education! I live in a college town and you can see in the tax receipts when the student loan checks hit.

Wed, 04/24/2013 - 09:19 | 3492350 Smegley Wanxalot
Smegley Wanxalot's picture

I see the recessicovery right there.

Wed, 04/24/2013 - 09:23 | 3492362 Sudden Debt
Sudden Debt's picture

 

 

 

                            __
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         |'   |    ||    |     |   /`     (/
         |    |    ||    |     | ./       /
         |    |.--.||.--.|  __ |/       .|
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         |-'   \__/  \__/             .|
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           |          `        /
            \                .'
            |                |
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            |                |
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Wed, 04/24/2013 - 09:34 | 3492417 GetZeeGold
GetZeeGold's picture

 

 

What is thy bidding Master?

Wed, 04/24/2013 - 09:39 | 3492444 Edward Fiatski
Edward Fiatski's picture

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Wed, 04/24/2013 - 09:39 | 3492438 Edward Fiatski
Edward Fiatski's picture

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Wed, 04/24/2013 - 09:22 | 3492366 JMT
JMT's picture

Not all bad:

 

he details of the report were modestly positive; core capital orders rose 0.2%, while shipments of the same rose 0.3%.

Wed, 04/24/2013 - 09:24 | 3492368 crzyhun
crzyhun's picture

What is the definition of seeing?

Wed, 04/24/2013 - 09:25 | 3492375 yogibear
yogibear's picture

The trading bots don't read these charts. 

Wed, 04/24/2013 - 09:25 | 3492379 Van Halen
Van Halen's picture

The MSM say this is a sign of the recovery we see all over America these days - THEY were the ones we were waiting for! Forward!

Wed, 04/24/2013 - 09:25 | 3492381 TumblingDice
TumblingDice's picture

We're making less of it, but at least it costs more now.

Wed, 04/24/2013 - 09:29 | 3492382 Yen Cross
Yen Cross's picture

    Put a fork in Bernanke .

Wed, 04/24/2013 - 09:26 | 3492383 caimen garou
caimen garou's picture

i see it, i see it, oh shit my screen was up side down! my bad.

Wed, 04/24/2013 - 09:30 | 3492409 gdiamond22
gdiamond22's picture

Like fundamentals or reality matter any more. SPX @ 1700 by mid-may

Wed, 04/24/2013 - 09:33 | 3492412 FreeNewEnergy
FreeNewEnergy's picture

Lookit, beeachez, quit yer monin' over the 'conomy, cuz from wear I seat, it's all gud, I tells ya.

Ya gots yer food stamps.

Ya gots yo ho.

Ya gots ya free rent.

Ya gots ya free utilieez.

Ya gots ya free cell fone.

wot moar duh ya want? Free monies?

oh wait...

Wed, 04/24/2013 - 09:33 | 3492414 spanish inquisition
spanish inquisition's picture

Soon, you will all be ordered to raise your hands..

Wed, 04/24/2013 - 09:38 | 3492435 Terminus C
Terminus C's picture

2+2=5 motherfuckers.

Wed, 04/24/2013 - 09:37 | 3492439 Sudden Debt
Sudden Debt's picture

AND SLOWLY GET ON YOUR KNEES!!!

 

Wed, 04/24/2013 - 09:37 | 3492429 css1971
css1971's picture

I see recessions.

Wed, 04/24/2013 - 09:40 | 3492454 css1971
css1971's picture

On the bright side. From this low point, the only way is up. Right?

Wed, 04/24/2013 - 09:43 | 3492462 Monedas
Monedas's picture

Did MDB ever opine on Bitcoin ?

Wed, 04/24/2013 - 11:23 | 3492975 Kirk2NCC1701
Kirk2NCC1701's picture

ANYTHING that takes fiat money out of cirulation is by definition "very, very bad", per the view of the Fed, TPTB and Krugmeister.  Bullion PM and Digital/Cyber Currencies are NO exception. 

It is IRRELEVANT if you prefer PM over cyber-cash or the other way around.  As long as they compete with FRN's, they are viewed as "evil", etc.

Thus our battle is not with each other (Cyber vs PM), but vs. "Anything vs. fiat money".  Keep your clarity.  Stay focused and on message.

Wed, 04/24/2013 - 09:56 | 3492522 q99x2
q99x2's picture

The FEDs shouldn't stop gun sales and ammo sales. Might be the only thing they have going for them.

Wed, 04/24/2013 - 10:02 | 3492550 adr
adr's picture

That's what happens when you produce five years woth of inventory in one year. Millions of people were out of work, incomes were decimated, yet with the recession over call, production went into hyperdrive in the second half of 2009.

Barry claimed he was going to triple exports, Wall Street priced in a recovery greater than any in history, and corporations channel stuffed like never before.

Just one little problem, there was no real end demand for any of it. The endless QE has been supplying the cash that should have entered the economy through commerce, if there was a real recovery.

Quantitative Easing is now the lifeblood of economy instead of actual commerce. Stocks essentially have no ceiling because virtually no business is actually taking place. They rise because computers need to put the money wired to them by Bernanke somewhere. Which is why the floor is zero if QE stops.

Imagine the flash crash if the AP twitter feed put out "Ben Bernanke dies in helicopter crash". I'm pretty sure the WOPR would attempt to get the launch codes.

Wed, 04/24/2013 - 10:30 | 3492688 AnAnonymous
AnAnonymous's picture

Triple export to where?
'Americans' are insolvent and they do the consumption...

Wed, 04/24/2013 - 10:04 | 3492567 ptoemmes
ptoemmes's picture

Looks a bit like I imagine a Dreamliner rolling over into a steep unrecoverable dive.

Wed, 04/24/2013 - 10:19 | 3492634 Steve in Greensboro
Steve in Greensboro's picture

“There are some things only intellectuals are crazy enough to believe.”

Wed, 04/24/2013 - 10:22 | 3492648 q99x2
q99x2's picture

Darkness was upon the face of the deep.

Wed, 04/24/2013 - 10:26 | 3492670 Tombstone
Tombstone's picture

Benny and the banksters just need more time.  After another 4 years of The Dictator, 8 years of Hillary should do the trick.  Kommies only work with 5 year plans.  We'll get a better plan in 2014 with a doubling of QE.

Wed, 04/24/2013 - 11:36 | 3493044 GeezerGeek
GeezerGeek's picture

The only good thing about "8 years of Hillary" is the implication that her predecessor will not have  declared himself emperor.

Wed, 04/24/2013 - 10:29 | 3492681 AnAnonymous
AnAnonymous's picture

Bias: 'american' economics is not supposed to work for everyone.

As soon as 'american' economics are measured by the middle class, the graph gives other results.

Wed, 04/24/2013 - 10:30 | 3492686 mendigo
mendigo's picture

Could someone please help me with a basic question:
What is the theory of how QE (which I think at this point means buying Treasuries and MBS's right) boosts the economy? I don't see the connection.

Wed, 04/24/2013 - 11:17 | 3492945 El Hosel
El Hosel's picture

.... My take on QE is that it is price fixing. It helps the ecomomy avoid reality, we are leveraged to growth and there is no growth. QE is taking the place of price discovery, keeping real estate and stock prices up through money printing and "financial innovation" is giving eveyone a false sense of recovery. It does not help anything other than perception for most people. Corporate interests are the primary beneficiary as the prices of their goods and services are inflated will wages remain low. Your wages are the same your expenes double, bankers that leveraged the economy to growth get 20 million dollar bonus.

Wed, 04/24/2013 - 10:37 | 3492717 falak pema
falak pema's picture

 

energy letter : bad news The Only Sure Bet in Oil By Keith Kohl | Wednesday, April 24th, 2013

There's a dark side to the U.S. oil boom.

Usually, people only hear the good news: the fact that our domestic crude production is at its highest level in two decades... or that Texas is once again pumping more than two million barrels per day... or that developing our tight oil plays has changed the landscape of our petroleum industry...

But there's more to the U.S. black gold rush than the stories that headline the mainstream media, and it's not all good news.

Last week I mentioned how indebted the world is (and the Saudis more than anyone else) to giant oil fields.

Today I want to take a look a little closer to home...

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The Saudi’s Secret Panic

Saudi Arabia’s death grip on oil supremacy is quickly coming to an end...

These three companies will bank massive gains for shareholders as the Saudi empire crumbles.

Knockout Punch

When it comes to decline rates, we don't have to look far to see the same issues the Saudis are facing.

Prudhoe Bay is a perfect example of one of our largest oil fields failing here in the United States.

Just how bad have things gotten? Since 1988, Alaska's state oil production has plummeted 73%.

They say a picture is worth a thousand words (click chart to enlarge)...

If Alaska's crude output continues its downward spiral, the consequences will be severe.

Earlier this year, I explained that if production in the North Slope falls below 350,000 barrels per day, Alaska could be forced to shut down the Trans-Alaska Pipeline System, the crucial component in getting that oil to market.

The way things are going now, that's going to happen before 2020.

Of course, there's only one other place struggling more than Alaska, and that's California.

It seems like we pick on these two states an awful lot, but it's hard to ignore these declines (click chart to enlarge):

Not exactly your idea of an "oil boom," is it?

Although things seem pretty grim when you look at those charts, this situation creates several lucrative opportunities elsewhere.

All you need to do is recognize them — and, of course, get on board early enough to take advantage of them.

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$3.00 Bakken Company Dumps Horizontal Drilling 
for a Better Technology

A small energy company has replaced the infamous horizontal drilling technology with a newer, much better technology that will further revolutionize the Bakken and create history with record oil productions in the coming months.

We cover the full story — including the name of this little player — right here. 

Banking on the Bakken

The story of North Dakota's surging oil production is everywhere. And until now, we've focused on the companies drilling into the Bakken, the pipelines transporting that crude out of the state, and the railways that began shipping Bakken crude when the pipelines hit capacity years ago.

Now it's time to put the next few pieces of the puzzle together...

First, North Dakota's oil flowed south and clogged up Cushing. Railways have started shipping those barrels eastward. (You might recall Phillips 66's billion-dollar deal to move Bakken crude to its refinery in New Jersey.)

Now there's only one direction left for North Dakota to send its crude — west — and that's precisely where it's headed in the future.

The Port of Grays Harbor, which rests on the Washington coast, announced it was leasing property for a crude oil unloading and storage facility. This means crude oil from the Bakken would be transported to the port via railway, and then sent by barge to refineries along the West Coast.

Once completed, oil will account for more than one-third of all exports from the port.

It's developing into a win-win situation: On the one hand, companies in North Dakota will have yet another outlet to get their crude oil to market, which also serves to ease the bottleneck at Cushing...

On the other, West Cost refineries can stop worrying about Alaska's Peak Oil crisis in the North Slope. (Remember that most of the crude oil refined by these facilities is from the North Slope.)

I'll give you one guess what will happen in ten years when the Trans-Alaska pipeline system stops shipping oil to Valdez...

Take two of these refineries as an example: BP's Cherry Point Refinery (the largest of its kind) in Washington and Tesoro's Anacortes Refinery in Tacoma.

Combined, the two refineries can process up to 345,000 barrels of crude oil per day.

But for individual investors trying to capitalize on this win-win situation for West Coast refineries, the difference is like night and day:

All you need to find your win-win investment is to backtrack a few steps.

Because having new outlets for Bakken production opens the door wide open for Bakken drillers.

A Sure Bet in Oil

Few investors believe a sure bet exists in the oil industry. I'll tell you right now they're wrong. We've known about it for years...

In fact, it's paid off in spades so far.

Last year, I showed you what a 99% drilling success rate looks like.

It's worth your time to take a second look (click to enlarge chart):

The truth is these producers strike oil no matter where they put their drill bits — andstill it's not enough, because the game has changed radically since 2008...

It's no longer about whether or not there are billions of barrels of recoverable oil beneath North Dakota soil, but rather how effectively these companies can produce that crude.

This report about drilling technology will shed some light on how they're doing it — as well as how you can invest in this industry game-changer.

Until next time,

Keith Kohl

@KeithKohl1 on Twitter

A true insider in the energy markets, Keith is one of few financial reporters to have visited the Alberta oil sands. His research has helped thousands of investors capitalize from the rapidly changing face of energy. Keith connects with hundreds of thousands of readers as the Managing Editor of Energy & Capital as well as Investment Director of Angel Publishing's Energy Investor. For years, Keith has been providing in-depth coverage of the Bakken, the Haynesville Shale, and the Marcellus natural gas formations — all ahead of the mainstream media. For more on Keith, go to his editor's page.

The Bottom Line ....for what its worth...

 

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