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Goldman: "We Think That Payrolls Will Likely Disappoint"

Tyler Durden's picture




 

For all those unable to sleep tonight without the knowledge what Goldman thinks about this week's most important economic release, Friday's Nonfarm Payrolls number (and the unemployment rate, which is guaranteed to continue the previously observed divergence from GDP in a centrally-planned and completely "brokun Okun" environment), read on for your trivial Ambien. From Goldman "Our forecasts for the US dataset to be released this week will likely be mixed for rates... we think that payrolls will likely disappoint market expectations." As a reminder, consensus expectations are for a 165K print, declining from May's 175K, while Jan Hatzius now expects 150K. And with that the second great US renaissance which Hatzius forecast in late 2012 is being "tapered" away the same way his 4% GDP prediction in late 2010 devolved into sheer nothingness.

Of course, the only reason Goldman now wishes subpar economic data is to extend as far as possible the market's repricing of tapering, and in a "bad is good world", sending stocks higher now that for nearly two months US stocks have gone precisely nowhere, while US credit and international stocks have collapsed on fears of what the world would look like without the Bernanke put.

 

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Sun, 06/30/2013 - 20:43 | 3708821 knukles
knukles's picture

I'd already fallen asleep, was having this dream about Goldman's payrolls forecast, woke up in a cold sweat and now can't figure out if I'm still asleep or awake...

Sun, 06/30/2013 - 20:49 | 3708834 Banksters
Banksters's picture

Goldman Sachs where even the janitors are guilty of market manipulation, securities fraud and money laundering.  

Sun, 06/30/2013 - 23:15 | 3709117 flacon
flacon's picture

Lloyd Blankfein being gelded (having his testicles removed):

http://www.youtube.com/watch?v=wDwkNU6AFvY

 

 

Sun, 06/30/2013 - 22:01 | 3708997 stocktivity
stocktivity's picture

Bad is good now...it means Benny won't taper. It's all Bullshit!

Sun, 06/30/2013 - 20:43 | 3708823 LetThemEatRand
LetThemEatRand's picture

Fuck the Squid.

Sun, 06/30/2013 - 21:06 | 3708878 q99x2
q99x2's picture

Yuk

Sun, 06/30/2013 - 20:45 | 3708829 nmewn
nmewn's picture

Time for another hard pivot!

Sun, 06/30/2013 - 20:50 | 3708837 LetThemEatRand
LetThemEatRand's picture

Do squids pivot or do they just wrap around another vein?

Sun, 06/30/2013 - 20:59 | 3708863 nmewn
nmewn's picture

I'm thinkin they're a lot like other Wall Street bankers, they pivot into a job at the WH, fuck some shit up for us while assuring future profits for Wall Street bankers...kinda like this guy...

Who makes the most in Obama's White House?

The best-paid person of the 460 people who work at the White House is Seth Wheeler, a senior adviser at the National Economic Council, who is crafting Obama's strategy on housing finance.

 

One of the newest appointees, Wheeler earns $225,000, according to the annual White House report on its $37.9 million payroll released on Friday.

 

Wheeler has been detailed to the role >>>from<<< the Federal Reserve where the pay scale is higher, a White House official explained.

 

It also means he earns more than his boss, Gene Sperling, the director of the National Economic Council, who earns the White House limit of $172,200.

 

At the Fed, Wheeler was chief of staff for the Office of Financial Stability Policy and Research.

 

He is an ex-Morgan Stanley banker who worked for former Treasury Secretary Hank Paulson during the Bush Administration, and was a key architect with the Obama administration's mortgage modification program, helping craft the signature housing aid program known as the Home Affordable Modification Program."

http://www.reuters.com/article/2013/06/28/us-usa-obama-salaries-idUSBRE95R15X20130628?feedType=RSS&feedName=domesticNews

Sun, 06/30/2013 - 21:07 | 3708879 LetThemEatRand
LetThemEatRand's picture

Yes, the bankers have certainly corrupted our elected representatives.

Sun, 06/30/2013 - 21:14 | 3708904 nmewn
nmewn's picture

Its symbiotic, I'm not going to quibble over chicken & egg theory. Its power & money, always has been.

The problem is Wall Street, the Fed & the greedy politicians who support them both.

Sun, 06/30/2013 - 21:16 | 3708908 noob
noob's picture

Obama / Mandela : not a photo op :-/  what a sycophant peace of shit

Opportunity : when someone is bleeding out what do you do?... finger paint

Sun, 06/30/2013 - 21:53 | 3708981 LetThemEatRand
LetThemEatRand's picture

Finger paint or finger fuck.  You be the Judge.

Sun, 06/30/2013 - 22:14 | 3709024 CheapBastard
CheapBastard's picture

Who needs money (or a job for that matter) when you have a Robust issuance of EBT, SNAP, Obamaphones, Free Medical care, Section 8 services and plenty zero-down houses?

 

It's all FREE!

Sun, 06/30/2013 - 23:25 | 3709141 WTFUD
WTFUD's picture

Gotta be a catch ' cause $225k wouldn't have covered his lunches per year at Morgan.

Sun, 06/30/2013 - 20:51 | 3708839 HowardBeale
HowardBeale's picture

How is it possible that Lloyd Blankfeind is not dead?

Sun, 06/30/2013 - 20:57 | 3708857 bilbert
bilbert's picture

Divine Intervention??

Possibly proof that he really IS doing God's work.....

Sun, 06/30/2013 - 21:02 | 3708871 HowardBeale
HowardBeale's picture

Blankfeind's work sure seems to follow the spirit of the Old Testament's God.

Sun, 06/30/2013 - 21:10 | 3708892 prains
prains's picture

LED hologram coz he's too cheap to go incandescent

Sun, 06/30/2013 - 20:53 | 3708841 noob
noob's picture

Nothing in the world is more dangerous than sincere ignorance and conscientious stupidity. - Martin Luther King, Jr.

The only true wisdom is in knowing you know nothing. - Socrates

In any moment of decision, the best thing you can do is the right thing, the next best thing is the wrong thing, and the worst thing you can do is nothing. - Theodore Roosevelt

Sometimes one pays most for the things one gets for nothing. - Albert Einstein

Sun, 06/30/2013 - 21:01 | 3708868 infinity8
infinity8's picture

Excellent collection!

Sun, 06/30/2013 - 20:54 | 3708844 WTFUD
WTFUD's picture

FORTRESS who print the Euro & Dollar notes are very confident that their newest babies will be very difficult to counterfeit/replicate. Bad news for Goldman & JPM then.

Sun, 06/30/2013 - 21:12 | 3708896 espirit
espirit's picture

Guess the North Koreans better doubletime their $100 USD plates while they still have time, after all they don't call them "SuperDollars" for nothing.

Hmmm... might be collectable after all, better counterfeit than the ones the the Bernank inks.

Mon, 07/01/2013 - 00:23 | 3709225 Harry Dong
Harry Dong's picture

http://en.m.wikipedia.org/wiki/Superdollar

I learned from your comment +1

 

Sun, 06/30/2013 - 20:54 | 3708845 fonzannoon
fonzannoon's picture

the other article is correct. it's up to retail now. I used to think that "crash jpm, buy silver" motto had a shot. in truth it's "crash jpm, sell your bond fund". 

Maybe I am just nuts, but I just don't see another round of weak data beaing met by another round of QE. something bigger is going to have to give.

Sun, 06/30/2013 - 21:03 | 3708873 HowardBeale
HowardBeale's picture

We all knew the end was coming; why not now...

Sun, 06/30/2013 - 21:18 | 3708916 espirit
espirit's picture

Not until after the 4th of July...

Dontcha just sense the irony?

Sun, 06/30/2013 - 22:03 | 3709005 KickIce
KickIce's picture

They're a lot like the aliens in Independence Day, we just need a Randy Quaid to put a nuke up their tailpipe.

Sun, 06/30/2013 - 22:51 | 3709084 knukles
knukles's picture

Come on... we all know it's the Annanuki coming back for the rest of the gold's the closing act! 

Sun, 06/30/2013 - 23:18 | 3709125 RaceToTheBottom
RaceToTheBottom's picture

"Not until after the 4th of July..."

Yep give the Muppets their barbeque and hotdogs...

 

Sun, 06/30/2013 - 21:04 | 3708875 WTFUD
WTFUD's picture

Al Green(spam) stated he could call on 100+ Phd's at any one time. Proof then that the ussa citizenry should immediately enforce into the constitution that NO fuckwit dumbfuck prospective criminal element graduating from Harvard, Yale, Stanford etc can serve in Public Office. Make sense?

Mon, 07/01/2013 - 01:00 | 3709267 Tulpa
Tulpa's picture

Maybe he meant Pointy Headed Dunce?

Sun, 06/30/2013 - 21:08 | 3708887 Fuku Ben
Fuku Ben's picture

Did someone at ADP "leak" the data to Goldman?

Sun, 06/30/2013 - 21:28 | 3708934 Jake88
Jake88's picture

It's OK. Goldman pays them well.

Sun, 06/30/2013 - 21:12 | 3708895 wisehiney
wisehiney's picture

This of course means GREAT! payrolls number.

Sun, 06/30/2013 - 21:14 | 3708903 nickels
nickels's picture

When the Goldmans of the world have finished eating they will ring a little bell to summon the butler and whisper "Short this sucker!"

Sun, 06/30/2013 - 21:16 | 3708911 fonzannoon
fonzannoon's picture

anyone else see this Fred Thompson dude pitching "government insured reverse mortgages"  with the help of a WW2 vet?

Incredible.

Sun, 06/30/2013 - 21:20 | 3708918 espirit
espirit's picture

Incredibly sickening.

Sun, 06/30/2013 - 21:32 | 3708943 wisehiney
wisehiney's picture

"Fonz"ie" does too. HA!  (Henry Winkler). Corruption rules.

Sun, 06/30/2013 - 21:43 | 3708966 Tombstone
Tombstone's picture

The gods of Goldman have spoken.  Rest easy, world.

Sun, 06/30/2013 - 22:30 | 3709051 thismarketisrigged
thismarketisrigged's picture

no matter what the number is, benny better get the fuck out of the market with his stupid qe shit.

 

if its a good number ( obviously manipulated) that means the economy can be taken off qe.

 

if its a bad number, that should signal that despite 5 fucking years of qe shit, the economy is still not getting better and its only getting worse, so get out and let the economy run its own.

 

fuck u fed and obama.

Sun, 06/30/2013 - 22:53 | 3709087 knukles
knukles's picture

And they're gonna quit manipulating gold prices, too...

Mon, 07/01/2013 - 00:17 | 3709216 Harry Dong
Harry Dong's picture

Knuckles...down't you ever sleep?

 

Sun, 06/30/2013 - 23:42 | 3709162 robertocarlos
robertocarlos's picture

I read "disappear" in place of "disappoint". Scared myself for a second.

Mon, 07/01/2013 - 00:03 | 3709202 texas sandman
texas sandman's picture

Looks like about the right time;  Fuck Bernanke!!

 

Phew, feel better now.......

Mon, 07/01/2013 - 00:19 | 3709218 starman
starman's picture

really?!

Mon, 07/01/2013 - 00:39 | 3709250 torak
torak's picture

Wake me up if the market collapes; other than that, there's nothing new here -- rehash or rehash.  zzzzzz

Mon, 07/01/2013 - 03:25 | 3709336 Nikola
Nikola's picture

I though I read somewhere that the US needs to create something like 225,000 jobs a month just to keep up with college grads...how is anything less than 250,000 per month added "good news"?!? 

Mon, 07/01/2013 - 09:07 | 3709689 giggler123
giggler123's picture

... and they get paid for this?  I mean a child could have come up with the same result looking at everything heading to poop.  Reminds me of the access code:

 

http://www.youtube.com/watch?v=a6iW-8xPw3k

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