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Welcome Back Recession: Chicago PMI Implodes To 49, First Sub-50 Print Since September 2009

Tyler Durden's picture


Total collapse. That is the only way to explain what just happened with the Chicago PMI which imploded from 52.4, and printed at a contractionary 49: the first sub-50 headline print since September 2009. But that's not all: Deliveries, Prices Paid and Production all hit their lowest since 2009; Backlogs posted their tenth month of contraction in the past 12 months. And what's worst for the Department of Making Shit Up, Employment plunged from 551. to 48.7, its third month over month decline. Actually another way to phrase it: complete disaster. Obviously this number explains why S&P should have no problems crossing 1,600 today. Because for that other Department: of Propaganda and Creating money out of thin air, this means only one thing: the Fed is preparing to print ONE KROOGOL MORE!

It appears nobody told the respondents that the economy is back in stall speed.

  • Business activity was soft again in March, but we are optimistic for 2nd quarter and overall for 2013. Seems like some key raw materials are forecasted to moderate and even decline a bit over next several months, e.g. linerboard, resins.
  • Our orders are consistent, we have a steady flow of work currently, 1st quarter was a huge improvement from 2012 start.
  • New order intake is steady but remains at the lowered 2012 level. Afraid this may become the dreaded "new normal".
  • "Business is steady as she goes."
  • The economy is looking as if it is turning the corner. It is slowly gaining and looks like it will continue to do so.

Full horrendous report here

Meanwhile, elsewhere in contradictory reports...

Consumer Confidence just smashed expectations to the upside by the most in 14 months...


Led - surprise - by hope and dreams of the future... at its highest in 5 months...



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Tue, 04/30/2013 - 09:57 | 3513554 venturen
venturen's picture


Tue, 04/30/2013 - 10:00 | 3513568 insanelysane
insanelysane's picture

Of course, because everyone knows the 49 is over inflated and should be 29 as in 1929.

Tue, 04/30/2013 - 10:06 | 3513600 hedgeless_horseman
Tue, 04/30/2013 - 10:11 | 3513607 bernorange
bernorange's picture

A kroogol, eh?  Think that will be enough?

Tue, 04/30/2013 - 10:12 | 3513614 ParkAveFlasher
ParkAveFlasher's picture

"One Kroogol Moar" ... lmao

Tue, 04/30/2013 - 10:22 | 3513668 Richard Chesler
Richard Chesler's picture


He meant the recession

Tue, 04/30/2013 - 10:44 | 3513757 FL_Conservative
FL_Conservative's picture

Tom Ree says this is burrish.

Tue, 04/30/2013 - 10:56 | 3513789 AlaricBalth
AlaricBalth's picture

Here are the five questions the Conference Board uses for the Consumer Confidence Index. They send out 5000 questionnaires and get back about 2500 each month. I'm surprised the return rate isn't higher due to the fact that the survey is multiple choice and not in the form of an essay. I also believe an optimism bias, which is always stronger during negative events, is clearly at play here.

1. How would you rate the present general business conditions in your area? Good, normal, or bad? (Current)
2. Six months from now, do you think they will be better, the same, or worse? (Future)
3. What would you say about available jobs in your area right now? Plenty, not so many, or hard to get? (Current)
4. Six months from now, do you think there will be more, the same, or fewer jobs available in your area? (Future)
5. How would you guess your total family income to be six months from now? Higher, the same, or lower? (Future)

Tue, 04/30/2013 - 11:06 | 3513851 Temporalist
Temporalist's picture

I have noticed that there are two terms used recently that do not appear in the ZH Glossary.

Here I'd like to submit the definition of the terms Kroogle and Moar.


Moar, a number created by Keynesian monetary sorcerers to describe their "successes", is a number, for whatever number is given or chosen, is more than that number.

Kroogle, an exponent of Moar without strict definition.

To use both in a sentence, if Chuck Norris was a number he would be a Kroogle moar than a Kroogle.

Tue, 04/30/2013 - 11:57 | 3514161 franzpick
franzpick's picture

The family historian, Aunt Etta Mology, says Kroogle is a mispelling of the diminutive for child, the Krugle, from the large German clan that overpopulated their farming area and became extinct, the Krugmans.

Tue, 04/30/2013 - 12:28 | 3514312 Jekyll_n_Hyde_Island
Jekyll_n_Hyde_Island's picture

I like where Temporalist's head is at. 

  Here's my take on the definitions by popular usage within context:

  Onomatopoeia:  Moar --  When encountering the word observers are meant to hear the groan or growl of a giant bottom-feeding catfish or a similarly stupid, gluttonous creature without higher brain function. 

  Etymology: Probably coined with intent to include "roar" in a cry for more, imbuing a a mob mentality.  "Must.  Print.  MOAR!"

  Common Use:  Article: 1. Intentional misspelling of "more" always used with implied or inferred meaning. See implications below

  Moar -- Adjective: 1. "He's part of the Moar Party."  Building association with general economic ass-hattery tied to spending with no measure or expectation of consequence.  

  Other implications include garden variety retardation, i.e. full retard (see tropic thunder and Simple Jack Trailers), JDS (Jaime Dimon Syndrome) see Lucifarian Opulence for Dummies, and Bernankisms (small creatures in Ben Bernanke's beard that prevent him from doing the right thing.)

Tue, 04/30/2013 - 13:44 | 3514610 marathonman
marathonman's picture

'economic ass-hattery'

That's good.  That's really good.

Tue, 04/30/2013 - 12:41 | 3514353 tenpanhandle
tenpanhandle's picture

I'm still a little confused.  Does this mean that Chuck Norris is 2 Kroogles?  And should I play the paper kroogle game or stick with physical krooglerands?


Tue, 04/30/2013 - 14:02 | 3514718 Imminent Crucible
Imminent Crucible's picture

No, it means that in a rationally valued world (an abstract concept for theoretical purposes only), Norris would have a notional value of Kroogol squared.

The important takeaway is not the Norris valuation. It is that we read ZeroHedge because here we get answers to our questions, such as "What number comes after googol?"

RE your other question, you have to stick with the paper Kroogol game because, by definition, ALL Kroogols are paper Kroogols. There is only a single undocumented sighting of a physical Krooglerand, and that was reported by Fat Larry Summers when he was looking under Kroogman's sofa cushions for something to snack on.

Tue, 04/30/2013 - 10:55 | 3513803 Voicefather
Voicefather's picture

Probably not. Better make it a kroogolplex just to be safe.

Tue, 04/30/2013 - 12:22 | 3514294 Pool Shark
Pool Shark's picture



Not to pick nits Tyler, but...

It also printed negative in September (49.7) and October (49.9) of 2012:


Tue, 04/30/2013 - 10:08 | 3513608 Xibalba
Xibalba's picture

meanwhile premiums for physical silver (not paper trash) are north of 20%

Tue, 04/30/2013 - 10:14 | 3513631 NoDebt
NoDebt's picture

A recession while the Fed has the spigot wide open?  Unpossible.

FYI- consumer confidence is considered "neutral" at 100.  Where are we now?  Oh, yeah.  Double digits below that like we've been for YEARS now.

Tue, 04/30/2013 - 11:46 | 3514105 Super Marco
Super Marco's picture

Ironically with this rally the new Gatsby film comes out this month.

Tue, 04/30/2013 - 10:01 | 3513571 Cult_of_Reason
Cult_of_Reason's picture

Round 49.0 is a preliminary number, it will be revised even lower.

Tue, 04/30/2013 - 10:17 | 3513638 DeadFred
DeadFred's picture

Sell in May then go away. We have our double top. It will do my heart good to see a correction to the BS ramp. I have two questions in the back of my mind. Will the algos get panicky once again on Monday when they read all the "crash, crash, crash" in print (flash crash anniversary) and will the newly coined Kroogol become a powerful meme against the dark side? Here's to hope for change.

Tue, 04/30/2013 - 10:47 | 3513786 scatterbrains
scatterbrains's picture

I'd guess we'll get through the May 6th date just fine but then comes the May 10th  1837 crash/bank run anniversary under a new moon no less.

Tue, 04/30/2013 - 12:43 | 3514369 tango
tango's picture

I'm not sure about that but it does go along with one of the many critics of the FED who regularly throw a dose of reality into the mix.  This speaker (businesswoman) said the market is in a win-win mood.  If things go down, it goes up because QE is extended.  If things go up, the market also rises because economic Oz is just around the corner.  This is the best possible position for Bernanke.  When you get "conservative" CEOs screaming for more debt, you know they're hooked.

Tue, 04/30/2013 - 10:01 | 3513573 Aeternus
Aeternus's picture

Where is a Krugman Alien Invasion when you need one?

Tue, 04/30/2013 - 10:17 | 3513646 WTFx10
WTFx10's picture

They have been invading since the 1700's. They use fiat as there weapon of choice.

Heres a hint, krugman is one of them.

Tue, 04/30/2013 - 11:06 | 3513873 A Nanny Moose
A Nanny Moose's picture

krugman is one of them.

That is an insult to aliens, legal or otherwise.

Tue, 04/30/2013 - 10:14 | 3513632 Dudeskis
Dudeskis's picture

Ugh, I can't even sit down and enjoy my morning Bernanke with this bad news! Someone revise these numbers!

Tue, 04/30/2013 - 10:29 | 3513692 krispkritter
krispkritter's picture

Of's Buyagra.

And we're way past the 4 hour mark and Dr. Krugman recommended we take two more and call him in the morning...

Tue, 04/30/2013 - 10:01 | 3513560 Al Gorerhythm
Al Gorerhythm's picture


Tue, 04/30/2013 - 10:02 | 3513577 Al Gorerhythm
Al Gorerhythm's picture

Nope, it looks as if it's down. I gues we'll have to wait till 2.30.

Tue, 04/30/2013 - 10:06 | 3513587 Rainman
Rainman's picture

Massively bullish....print moar !!

Tue, 04/30/2013 - 09:59 | 3513561 Debtonation
Debtonation's picture

Are we in a recession yet?

Tue, 04/30/2013 - 10:12 | 3513623 ParkAveFlasher
ParkAveFlasher's picture

In the latest edition of Merriam-Webster's dictionary, I found this:


1 [ri-sesh-uhn] Show IPA noun
the act of receding or withdrawing. 2.
a receding part of a wall, building, etc. 3.
a withdrawing procession, as at the end of a religious service. 4.
Economics .  see "mild recovery."

Tue, 04/30/2013 - 11:14 | 3513916 Snoopy the Economist
Snoopy the Economist's picture

So what is the definition of depression then? 


Maybe: "When not enough fiat currency is printed into existence"

Tue, 04/30/2013 - 10:20 | 3513658 buzzsaw99
buzzsaw99's picture

define "we"

Tue, 04/30/2013 - 10:00 | 3513570 onewayticket2
onewayticket2's picture

A clear BUY signal....

Tue, 04/30/2013 - 10:24 | 3513665 gjp
gjp's picture

Yep, more recession, more unemployed, means more people surfing the web looking for jobs on LinkedIn.  Back up the truck!  It's only 100x 2014 earnings!  Get in before Ben does!

Tue, 04/30/2013 - 10:04 | 3513574 piliage
piliage's picture

Obviously the solution to this very simple problem is 85 Billion USD a month is not enough QE. Duh!

Tue, 04/30/2013 - 10:04 | 3513578 NoWayJose
NoWayJose's picture

Once again the Fed stares at economic reality and sees that it's policies are hurting the recovery instead of helping it - then they conclude that they need to do MOAR of the same thing!

Tue, 04/30/2013 - 10:05 | 3513580 Smegley Wanxalot
Smegley Wanxalot's picture

Screw the Chitcago PMI. Anyone know who Kim Kardashian screwed last night? I only want the important news.

Tue, 04/30/2013 - 10:09 | 3513601 Savyindallas
Savyindallas's picture

Why isn't there more coverage of the gay NBA has-been who averaged 1 point per game last year and who came out of the closet? I want to know all the juicy details about who he has been sleeping with. 

Tue, 04/30/2013 - 10:16 | 3513625 ParkAveFlasher
ParkAveFlasher's picture

He accompanied Rodman to NK.  It's all relevant.

Tue, 04/30/2013 - 10:07 | 3513603 orangegeek
orangegeek's picture

Kim K?  That's foul.


Her flabby toilet is bigger than Moochelle's.

Tue, 04/30/2013 - 10:08 | 3513605 Spastica Rex
Spastica Rex's picture

I don't know about Kim Kardashian, but here's some important front page news for ya.

Tue, 04/30/2013 - 10:15 | 3513626 hedgeless_horseman
hedgeless_horseman's picture



...the midwives became suspicious that something was going on as she became increasingly "pushy and insensitive."

Awesome.  I am going to start keeping a list of women that exhibit such suspicious behavior.

Tue, 04/30/2013 - 14:16 | 3514746 Cathartes Aura
Cathartes Aura's picture

with pics, no doubt.


"See something, say something"

Tue, 04/30/2013 - 10:27 | 3513688 MilleniumJane
MilleniumJane's picture

I threw up in my mouth a little when I saw the headline.  Disgusting.  There are indeed monsters living among us.

Tue, 04/30/2013 - 11:12 | 3513907 A Nanny Moose
A Nanny Moose's picture

Don't hate the players. Hate the game.

Are unwanted rugrats subsidized in the UK, like they are in the US? How else, other than immigration, does one keep a ponzi afloat?

Tue, 04/30/2013 - 14:12 | 3514756 Cathartes Aura
Cathartes Aura's picture

apparently she's amrkn, and the adopted children are from "other" countries. . .

Tue, 04/30/2013 - 10:02 | 3513581 stormsailor
stormsailor's picture

so stawks should have no trouble reaching all time highs today.


in other news, water is wet, the sky is blue, and women have secrets.

Tue, 04/30/2013 - 10:04 | 3513589 Diesel Seven
Diesel Seven's picture

NAPM-Milwaukee had a big miss too--should be good for a few points up by the end of the day.

Tue, 04/30/2013 - 10:04 | 3513590 orangegeek
orangegeek's picture

Must keep US Dollar down. Keep pushing equities higher.  PMI report won't matter tomorrow.


Must keep Euro, Yen and Pound up.  Push harder.


Call Scotty - oops - I mean Ben - we need more power.

Tue, 04/30/2013 - 10:08 | 3513591 fonzannoon
fonzannoon's picture

Bernank throws this hot steaming dump on the politicians lap? Says he did all he could and the fed is winding down QE because it may now be harming the economy?

Does anyone picture the fed meeting now and not picture this? (that's krugman in the back)


Tue, 04/30/2013 - 10:09 | 3513602 Dr. Engali
Dr. Engali's picture

Lol...that was funny.

Tue, 04/30/2013 - 10:17 | 3513630 fonzannoon
fonzannoon's picture

If Bernanke says "Get to work Sen. Schumer" tomorrow I will donate $100 to Pud's "Our lady of the worthless miracle" fund.

Tue, 04/30/2013 - 10:14 | 3513633 ParkAveFlasher
ParkAveFlasher's picture

Best show on TV.

Tue, 04/30/2013 - 11:46 | 3514102 1C3-N1N3
1C3-N1N3's picture

They do say "bitchez" a lot on that show. Maybe Mac is a ZHer.

Tue, 04/30/2013 - 10:22 | 3513667 NoDebt
NoDebt's picture

You absolutely nailed it with that one, Fonz.  People in the office are asking me why I'm laughing so hard.  I told them not to worry about it and get back to work.

Because I cut the brakes!  Wildcard, bitchez!  Holy shit, I'm still laughing as I'm typing this.

Tue, 04/30/2013 - 10:26 | 3513678 fonzannoon
fonzannoon's picture

maybe that's the new deer in headlights?

Tue, 04/30/2013 - 10:20 | 3513644 Al Gorerhythm
Al Gorerhythm's picture

"Because I cut the brakes, Bitchez! Yeeeehhaaaawwww!


Tue, 04/30/2013 - 10:10 | 3513592 yogibear
yogibear's picture

More Bubble Bernanke and the fed's QE money going into equities.

Bernanke and the Fed pulling out all stops to pump up housing and equities in a job-loss/wage-loss  economy.

Like the Chinese building ghost cities.

When markets don't work the way you want them you just directy buy with printed money. Like the communist do.

Near 50 million on food stamps, inviting more illegals to collect welfare. From productive to non-productive debt.

Comrades welcome to socialism! We have examples of how it has worked out in the past.


Tue, 04/30/2013 - 10:05 | 3513594 Dr. Engali
Dr. Engali's picture

Well the good news is that Obummer is going to hold a press conference today at 10:15 ( he will show up at 10:30). I can't wait to hear him tell me everything is great. Oh and for him to say " pass my budget or there is going to be pain"

Tue, 04/30/2013 - 10:10 | 3513613 infinity8
infinity8's picture

Only 15 min. late? Aren't you the optimist today. "Steady as she goes":

Tue, 04/30/2013 - 10:16 | 3513637 TuesdayBen
TuesdayBen's picture

Nah, the purpose of the press conference is to pronounce his homosexuality - first active POTUS to come out. Yay!

Tue, 04/30/2013 - 10:43 | 3513768 krispkritter
krispkritter's picture

Is he doing that guy from the NBA? 

Tue, 04/30/2013 - 10:56 | 3513822 SokPOTUS
SokPOTUS's picture

Yeah, a foursome with Mooochelle...Barry; the NBGay guy; and Moochelle is worth two; one for each thigh.

Tue, 04/30/2013 - 11:02 | 3513841 piliage
piliage's picture

Does Obama even exist? I feel like I'm watching year 5 of an 8 year long version of Weekend at Bernies. The guy is an empty suit. How ANYONE thinks this guy is 'so smart' is beyond me. He is a useless petulant thin-skinned tit who is using the US as a walking self-esteem therapy session.

The guy is a fucking moron, and a leftist ideologue. His only redeeming feature was that he seemed smarter than Bush (which honestly, my slipper could have done - maybe I should have run it for office).

The irony is this fucking hypocritical piece of shit has not stopped ONE of Bush's policies, in fact, he has done MOAR of them.

And the damn moron has such a lack of understanding of any basic finance or economics, he is letting Delaware Joe Biden (home of the greatest black hole of corrupt money in the world), wall street, and idiots like Paul 'there isn't an economic problem that can't be cured by yet more government programs' Krugman dictate economic policy.

I have one question for President Bernie, "Why, when the savings and loan scandal happened in the 80s, about 1000 bankers were prosecuted, and you've sucked the dick of wall street and not put anyone behind bars, asshole"

I need a drink...




Tue, 04/30/2013 - 12:05 | 3514217 Joseph Jones
Joseph Jones's picture

I presume it is not news that the two party system is a turd we should have flushed decades ago.  That said...

Is there any doubt Romney would have started WW3 by now, fighting several battles for Satan-land (AKA Israel)? 

In case you weren't crystal clear by now that Rabbis run and own every corner of Western culture and civilisation, proof that Israel owns even Mormonism: jew-rael (israel) owns the Dead Sea Scrolls, and plans Utah exhibit in conjunction with the Mormon Church.  

Joeseph Smith was an apostate Freemason when he started his harem sex-maniac religion AKA Latter Day Saints.  Freemasonry is an offshoot of the Egyptian-Babylonian racist sexist shite hole called Judaism. 

Tue, 04/30/2013 - 12:59 | 3514430 tenpanhandle
tenpanhandle's picture

Whats Romney got to do with it?  It's the stinking shit on my shoe that is bothering me, not the turd that I stepped over 5 miles back. 

you wearing an obamafoil hat?

Tue, 04/30/2013 - 14:00 | 3514708 Clowns on Acid
Clowns on Acid's picture


Tue, 04/30/2013 - 10:10 | 3513604 Kreditanstalt
Kreditanstalt's picture


Tue, 04/30/2013 - 10:10 | 3513606 Handful of Dust
Handful of Dust's picture

Deflationary depression and high unemployment...what's that Misery Index, now?


Ok, food, gas, tuition and health insurance ...and airline fees have soared but everything else sinking into the abyss-- houses, cars, retail clothes, private sector wages, etc.

Tue, 04/30/2013 - 11:00 | 3513834 SokPOTUS
SokPOTUS's picture

Pfft.  The Misery Index is the Unemployment Rate + CPI.  Deflation pushes the Misery Index towards Zero; maybe even *NEGATIVE*; hell; it's going to be freaking *Nirvana* out there!

Tue, 04/30/2013 - 10:11 | 3513609 ak_khanna
ak_khanna's picture

Recession is back because all the efforts of politicians, government, central banks etc are focused on saving banks instead of targeting job creation which is the only way economy can recover. 
Jobs can be created by initiating the following :

Replace the top management of the too big to fail banks, put the existing ones in prison and charge them with fraud and misrepresentation. Break the banks into smaller ones so that they are no longer a risk to the whole financial system. Implement the Glass Stegall Act.

Use the reclaimed billions of dollars from the arrested bankers and use them to improve the infrastructure of the country. This would create jobs instantly and the improved infrastructure would give the confidence to the small businessman to hire more people.

Tax the richest 5% of the population heavily as they no longer create jobs in the country but outsource the jobs to the low cost developing nations. Stop completely the funding of election candidates by corporates and rich individuals so that their influence on politicians to make rules beneficial to themselves is clipped.

Stopping speculation and derivatives in commodity markets would reduce their prices substantially which would be beneficial to the majority of the population. This would lead to a better standard of living for the middle class families and they would go out and spend helping the revival of the economy.

But in the real world we can keep on dreaming.

Tue, 04/30/2013 - 10:20 | 3513657 mayhem_korner
mayhem_korner's picture



Thank you, Robin Hood. 

How 'bout eliminating the taxing authority of the central state as a first measure.  Then anchor a new currency to tangible things that are produced.  Enforce the rule of law, esp. re: property rights.  Embrace the 2nd amendment.  Eliminate fractional reserve lending.  Let the markets sort out allocations.

Tue, 04/30/2013 - 10:46 | 3513773 piliage
piliage's picture

You increase wealth by increasing productivity, not by increasing taxes, unless those tax dollars go to fund productive macro projects. And no, bridges to nowhere, Obama phones, and QE are NOT productive uses of tax dollars.

Tue, 04/30/2013 - 10:50 | 3513792 scatterbrains
scatterbrains's picture

Nice but in short what your asking is for the Bankstas to hand cuff themselves and give up their booty.  After all who's in charge here ?

Tue, 04/30/2013 - 10:11 | 3513610 Van Halen
Van Halen's picture

Don't you guys understand by now that "implode" means... BULLISH! The MSM say we've rounded the corner! Things are getting better! Hope and change! Forward!

Now, back to Kardashians, sports, and zombies.

Tue, 04/30/2013 - 10:12 | 3513619 Van Halen
Van Halen's picture

Apologies! I stand corrected...

"Actually another way to phrase it: complete disaster. Obviously this number explains why S&P should have no problems crossing 1,600 today. Because for that other Department: of Propaganda and Creating money out of thin air, this means only one thing: the Fed is preparing to print ONE KROOGOL MORE!"

Obviously you guys DO understand what 'implode' means...

Tue, 04/30/2013 - 10:09 | 3513611 css1971
css1971's picture

Y'know they might not. They may not print, but allow the business cycle to do what it does best and clear out bad debts that will never be paid. Shut down unprofitable businessess.....


bwhahhahahahhahahahahahahahahhahahah ....


Sorry. Couldn't keep it up.

Tue, 04/30/2013 - 10:09 | 3513612 Silverhog
Silverhog's picture

Are you confident were going into a recession?  Was that the consumer question this month?

Tue, 04/30/2013 - 10:13 | 3513615 moneybots
moneybots's picture

Shouldn't the FED already be spending one Kroogol more to have prevented a 49 print on the Chicago PMI?

It seems to me that people should be selling stocks and spending the money into the economy.  Money in the stock market is just sitting there, just like reserves at the bank and doing nothing.

Tue, 04/30/2013 - 13:02 | 3514447 tenpanhandle
tenpanhandle's picture

They are barbarous relics!

Tue, 04/30/2013 - 10:14 | 3513617 Cursive
Cursive's picture

What dumbass respondent thinks the economy is about to turn the corner?  Is he/she making printing presses?

Tue, 04/30/2013 - 10:17 | 3513620 Petrus Romanus
Petrus Romanus's picture

Well at least consumer confidence ticked up! Damn the torpedoes...................

Tue, 04/30/2013 - 10:12 | 3513622 gigeze787
Tue, 04/30/2013 - 10:16 | 3513640 El Hosel
El Hosel's picture

Good news is good and bad news is better, 85 billion a month is not enough in the new normal...  More Full Retard please.

Tue, 04/30/2013 - 10:18 | 3513649 IridiumRebel
IridiumRebel's picture


Tue, 04/30/2013 - 10:20 | 3513643 IridiumRebel
IridiumRebel's picture

GET. MY. BROKER. Buying THE FUCK outta Facebook NOW NOW NOW! Fuckin PE is 1790.

Tue, 04/30/2013 - 10:46 | 3513772 yogibear
yogibear's picture

But FB is Wall Street's darling stock.

Tue, 04/30/2013 - 10:21 | 3513660 SheepDog-One
SheepDog-One's picture

Oh I SO hope that CNBC viewers, AKA 'The Bathrobe Brigades' really are buying into their bullshit and handing over all their money to Wall St to be robbed blind again!

Tue, 04/30/2013 - 10:16 | 3513627 Kreditanstalt
Kreditanstalt's picture


Then the nonsense will have to stop.  See...?  S&P has just "bottomed" for the day and the ramp has started.

Tue, 04/30/2013 - 10:17 | 3513634 Diesel Seven
Diesel Seven's picture

They must have surveyed the same "consumers" that bought CSCO at 70 in 2000 . . .

Tue, 04/30/2013 - 10:16 | 3513639 yogibear
yogibear's picture

Bernank and the Fed as well as Obama hope to keep equities elevated and hoousing long enough to get the rest of the economy going.

Seems like it's not working.

Tue, 04/30/2013 - 10:42 | 3513747 Bastiat
Bastiat's picture

Fortunately, there's no relationship between housing prices and income, so just give it time and everything will be fine.

Tue, 04/30/2013 - 10:16 | 3513641 Fish Gone Bad
Fish Gone Bad's picture

When the Aztecs were being decimated by Cortez, they called on their great spiritual leader to save them.  He did an owl dance with all he could muster, to call upon the gods to save the great Aztec people.

Well we know how that ended.

Making shit up (making money out of thin air), is not going to solve a real problem (debt).

Tue, 04/30/2013 - 10:21 | 3513662 Diesel Seven
Diesel Seven's picture

Agreed, but owl dances are fun while they last . . .

Tue, 04/30/2013 - 10:27 | 3513670 SheepDog-One
SheepDog-One's picture

You know what I see as the 'real' problem? Not 'debt'....but a class of people who can no longer live and control power thru fractional reserve lending! Clearly to me anyway these last few bubbles and implosions were due to the money lenders desperately trying to figure out a way to keep their scam going, and it's not working anymore...I think the next bubble pop is going to result in body parts and gore strewn everywhere.

Tue, 04/30/2013 - 13:04 | 3514465 tenpanhandle
tenpanhandle's picture

Hope yer only talking about Al Gore and his parts.

Tue, 04/30/2013 - 10:21 | 3513650 SheepDog-One
SheepDog-One's picture


Tue, 04/30/2013 - 10:21 | 3513652 web bot
web bot's picture

Meanwhile in other news, this other ticking timebomb is just getting started...

Tue, 04/30/2013 - 10:36 | 3513733 MassDecep
MassDecep's picture

Me thinks "false flag pandemic", nothing like a good pandemic to blame on financial collapse.

Tue, 04/30/2013 - 10:23 | 3513659 Baader
Baader's picture

Hope this wipes that smug smile from joe weaselthal of the Business Insider's stupid face.

Tue, 04/30/2013 - 10:23 | 3513661 Hohum
Hohum's picture

Fellas, it's not printing, it's redistributing.  "Printing" would be adding to everyone's bank account.  QE is a device to have a small sliver of people increase their claims on real wealth.  And it's Christmas every day (every POMO day) for a primary dealer.

Tue, 04/30/2013 - 10:24 | 3513666 MythicalFish
MythicalFish's picture

Somehow makes the JGB look sexy again..


Tue, 04/30/2013 - 10:23 | 3513676 GrinandBearit
GrinandBearit's picture


Tue, 04/30/2013 - 10:26 | 3513679 B2u
B2u's picture

Fed to increase money printing from 85 billion to 170 billion?  More is gooder?

Tue, 04/30/2013 - 10:31 | 3513703 IridiumRebel
IridiumRebel's picture

Guys....I'll be back later. I have to shelter in place as a kid with a paper cutout look alike of a gun was found in the local elementary school. CNBC is on so I'll just masturbate a few times as buy some Zinga. Oh, knock at the door by AR carrying popo thugs in Kevlar. I'll be back later.

Tue, 04/30/2013 - 11:20 | 3513952 SokPOTUS
SokPOTUS's picture

Ewww.  To Maria B.?  Dude, you can do better...


Tue, 04/30/2013 - 12:18 | 3514284 Bam_Man
Bam_Man's picture

No - to Sylivia Wadhwa on CNBC Europe.

Tue, 04/30/2013 - 10:33 | 3513726 mess nonster
mess nonster's picture

"Deliveries, Prices Paid and Production all hit their lowest since 2009..."

Deliveries- the final transfer of a finished product... down

Prices paid- the agreed-upon exchange for deliverable goods...down

Production- the manufacture of deliverable goods... down

...but these things aren't symptoms of deflation! Oh no! Because unemployment is down... because it is really up, since everyone has quit looking for work in the taxable economy. Because the Stock market is up, since the bankers have to put their QE somewhere, and they for damn sure aren't going to lend it out to some unemployed production worker, or to the production facility he USED to work for. Gold is down, because demand for physical is up, since no-one wants the paper stuff, which drags the pirce of the real stuff down and pushes demand up...

So far, no-one has tested a newly printed JPY note to see whether its radioactivity exceeds its cocaine residue, which simply proves my point, that all the relevant statistics are being suppressed.

Tue, 04/30/2013 - 10:37 | 3513729 onceinalifetime
onceinalifetime's picture

There is nothing special to see here. Please move along.

Tue, 04/30/2013 - 10:44 | 3513764 Ben Bermonkey
Ben Bermonkey's picture

the economy is fairchielding', sort of see b 52 fairchield crash

Tue, 04/30/2013 - 10:44 | 3513765 Ben Bermonkey
Ben Bermonkey's picture

the economy is fairchielding', sort of see b 52 fairchield crash

Tue, 04/30/2013 - 10:48 | 3513780 PAWNMAN
PAWNMAN's picture

Can you believe that they are blaming this lousy print on the sequester?!? The MSM is spinning hard to cover for their boy!

Tue, 04/30/2013 - 10:53 | 3513795 kw2012
kw2012's picture

It couldn't possible be because of the 2%  pay reduction everyone took when the social security tax break expired.

Tue, 04/30/2013 - 10:50 | 3513782 writingsonthewall
writingsonthewall's picture

My Gold bullion supplier just said this:-

We've been extremely busy over the last couple of weeks - our stock is quite diminished but is changing all the time!

So much for the crash!

This looks like the real deal folks - a serious shift in the market has occurred and GLD is not GOLD anymore.

Tue, 04/30/2013 - 10:51 | 3513796 LostPolarBear
LostPolarBear's picture

And concumer confidence came in at a 68.1 print today??  Clueless consumers.



Tue, 04/30/2013 - 10:57 | 3513828 writingsonthewall
writingsonthewall's picture

Yeah - these 'surveys' don't hold much weight - even the PMI is the expectation of purchasing managers - and I've met a few - they are not neccessarily clever people.

Also people confuse 'confidence' and 'demand' with 'want'.

I'm sure consumers WANT to spend lots and lots, as I am sure purchasing managers want to buy and expand businesses - but want requires MEANS and there is nobody with any means out there.

I don't know why they think that by convincing people we're not in a depression is going to do any godo at all.

Chances are you have increased the stakes in a high stakes game.

Tue, 04/30/2013 - 11:41 | 3514075 Debt Slave
Debt Slave's picture

I don't know why they think that by convincing people we're not in a depression is going to do any godo at all.

Probably because the strategy is so successful when they are selling us politicians.

Tue, 04/30/2013 - 11:21 | 3513939 css1971
css1971's picture

p.s. If a googol is a 1 with 100 zeros. How big is a kroogol?


Tue, 04/30/2013 - 11:24 | 3513959 SokPOTUS
SokPOTUS's picture

Just one, big, fat, Zero.

Tue, 04/30/2013 - 12:09 | 3514018 Joseph Jones
Joseph Jones's picture

I humbly and respectfully request someone please explain NPR's rosie real estate reports this morning.  IIRC San Francisco (AKA "Carmel/Calcutta")  increased 17% YOY; also IIRC Case Schiller index largest gains in X years. 

Increases in Phoenix and Florida are easier to accept because they comprised bubble epicenters and hence sufferred the worst devaluation. 

Thank you, all.  Hope you have a great day. 

Tue, 04/30/2013 - 11:48 | 3514095 Monkeyfister
Monkeyfister's picture

The Sequester, and Austerity policies are CONTRACTIONARY. 

Contractionary policy is contractionary.

An economy has never, ever contracted its way to growth.

This Chicago PMI contraction is no surprise, it is the result of contractionary policy. To those that passed the policies that made it happen, this is a feature, not a bug.

Teabaggers, Banksters and Glibertarians should be dancing in the streets at the results that their long, hard-faught hostage-taking efforts have accomplished so far, not scratching their heads wondering what's happening.

Mission Accomplished, Teabaggers.

Can we now turn to JOB CREATION, please?

Tue, 04/30/2013 - 13:00 | 3514438 Clowns on Acid
Clowns on Acid's picture

Monkeyman, you are a dumb hombre. Go back to the Kardashians show and enjoy.

When grievious socio-economic mistakes are made by big spending Fed Gov'ts (laregly to fund the the now entrenched Great Society) and the Fed Reserve is printing like a sociopath.... the call for the  sanity of AUSTERITY of FEDERAL SPENDING and ENCOURAGEMENT of PRIVATE INVESTMENT.

Can you possibly comprehend the difference ? That is all that is availble as a possibvle socio - economic solution.

Otherwise it is going to be a free for all, whcih is what Obama and his Admin have wanted all along.

So STFU with your homo teabagger bs.   


Tue, 04/30/2013 - 12:07 | 3514244 Clowns on Acid
Clowns on Acid's picture

Time to print that Platinum coin with Krugman face on it. Then all will be fine.

Tue, 04/30/2013 - 12:41 | 3514354 worbsid
worbsid's picture

The 2016 season has started, I saw a bumper sticker:

"Monica Lewinski's X-boyfriend's wife for president"

Tue, 04/30/2013 - 13:49 | 3514626 q99x2
q99x2's picture

Recession brings in a frenzy of hope and confidence as the Afghan brown powder reaches main street.

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