We've Seen This Jobs Movie Before

Tyler Durden's picture


Presented with little comment aside to note that with all eyes squarely focused on this Friday's payroll data (and today's ADP and claims), it is worth reminiscing of the hope that we felt in 2006 and 2007 when it was "different this time" and the divergence between a plummeting ISM employment index and non-farm-payrolls meant nothing...




(h/t Brad Wishak at NewEdge)

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Wed, 07/03/2013 - 07:06 | 3717062 B2u
B2u's picture

Why this story?  So what if it involves facts and makes sense.  I thought the only news was about Zimmerman. 

Wed, 07/03/2013 - 07:13 | 3717071 GetZeeGold
GetZeeGold's picture



Before that it was Jodi Arias.


Fine with me....just as long as we don't have to talk about the economy which hasn't been addressed in the last 5 years....and the train-wreck which is Obamacare and amnesty that will put the final dagger in our nation forever.


It's all about priorities.....and you're not a part of that.

Wed, 07/03/2013 - 07:19 | 3717085 ihedgemyhedges
ihedgemyhedges's picture

Well apparently CNBC needs to cover something else, not to mention firing the whole damned on air crew.....


Wed, 07/03/2013 - 07:34 | 3717114 NoDebt
NoDebt's picture

The hard truth is, the time I spend on ZH comes directly at the expense of time I used to spend watching CNBC.  I know I am not representative of most CNBC viewers, but there are so many better avenues available today.

Wed, 07/03/2013 - 07:54 | 3717137 RockyRacoon
RockyRacoon's picture

Better link:


I see Kudlow was down the most at 40% and 60%.  When will they boot that fool out to the sidewalk?  I hope he's got lotsa gold stashed for early retirement.

Mad Money down 39% and 50%.... no more needs to be said.

Wed, 07/03/2013 - 08:45 | 3717292 tango
tango's picture

I don't care.  I like Larry.  He's predictable and many times a lonely voice in the wilderness.  I know, I know, he does not pass the ideological purity test (like 99.999999% of folks) but compared to Cramer or some of the other talking heads - there's no comparison.  He keeps hammering away at the debt and deficit, Obamacare, the overreach of the FED, the myriad scandals, he likes PM, talks about the need for saving and praises Ron Paul. That may not be enough for a true believer but it's fine with me.     

Harking back to a previous post where I noted that anyone we think is not in total agreement with the ZH agend is dismissed as an evil traitor, fool or conspirator  we make do with what we have.   I'll take Larry and his sometimes excellect guests over the Kardashians, MSNBC or the dumb bunnies at FOX "Business" any day of the week.   

Wed, 07/03/2013 - 10:46 | 3717804 Colonel Klink
Colonel Klink's picture

But....but....this time is different!


Wed, 07/03/2013 - 07:08 | 3717065 Silverhog
Silverhog's picture

Price of oil climbing this summer will throw our muddy half ass recovery under the bus again. 

Wed, 07/03/2013 - 07:19 | 3717087 NoDebt
NoDebt's picture

Does have some eerie similarities, doesn't it?

Wed, 07/03/2013 - 07:13 | 3717079 neidermeyer
neidermeyer's picture

Oil , sure ... lets bump the price of gas just as tens of millions of Americans now have to drive MORE since they are dragging their asses to two part time jobs thanks to Obamacare.

Wed, 07/03/2013 - 07:20 | 3717089 buzzsaw99
buzzsaw99's picture

the maggots are again having a fine time cashing in their personal stock options for top $ so it's all good [/sarc.]

Wed, 07/03/2013 - 08:48 | 3717300 tango
tango's picture

Many companies (like Walgreen for example) have programs where employees can buy stock options - it's not just for the BIg Guy anymore. Of course, you have to first decide to save and plan so that you don't sell them before the sale date.  One problem is that many folks do not even contribute to a plan in which the company matches - they just "can't afford it" yet somehow they are going to retire without any savings.   I don't get it.   

Wed, 07/03/2013 - 07:25 | 3717096 MyBrothersKeeper
MyBrothersKeeper's picture


Auto/Truck sales on highest pace since 2007

but mortgage applications dropped 12% last week

Wed, 07/03/2013 - 07:29 | 3717102 GetZeeGold
GetZeeGold's picture



Gotta have a truck to haul stuff from the house to the trailer.

Wed, 07/03/2013 - 07:31 | 3717107 AngryGerman
AngryGerman's picture

you can live in your car, too

Wed, 07/03/2013 - 08:24 | 3717220 Go Tribe
Go Tribe's picture

Yes, LOL. Cars payments = mortgage payments.

Wed, 07/03/2013 - 07:44 | 3717121 aint no fortuna...
aint no fortunate son's picture

just as soon as this phonied-up housing "recovery" started hitting the news people with any kind of home equity started doing what they do best - buying shit with HELOC's

Wed, 07/03/2013 - 07:28 | 3717101 AngryGerman
AngryGerman's picture


Wed, 07/03/2013 - 07:29 | 3717104 Wile-E-Coyote
Wile-E-Coyote's picture

What do they say, history never repeats but it rhymes, I can name that tune in one.

Wed, 07/03/2013 - 07:32 | 3717109 jmac2013
jmac2013's picture

Why the ZH obsession with jobs?  It has nothing to do with stocks, bonds, or any other "markets".  I'd say it has very little to do with the "economy" either.  Completely useless statistic, even if the data given can be trusted.

Wed, 07/03/2013 - 07:36 | 3717115 GetZeeGold
GetZeeGold's picture



Word up dawg......that working stuff is for suckers!

Wed, 07/03/2013 - 07:49 | 3717131 sbenard
sbenard's picture

Yea! Who needs jobs? Who needs an economy? We have PRINTED prosperity now!

Wed, 07/03/2013 - 08:26 | 3717230 Clowns on Acid
Clowns on Acid's picture

Yeh right jmac - The Fed has turned the equities market into a Snap card for the middle class, now that they ave maxed out their home equity loans.....

Who needs a job ?

Wed, 07/03/2013 - 08:33 | 3717246 Shizzmoney
Shizzmoney's picture


Why the ZH obsession with jobs?

It's really Wall Street's obsession with jobs because it relates to the taper........I don't think people realize that the Fed will keep printing, but it's at what LEVEL they keep printing, which determines whether the DJIA/SP goes higher/lower.  And how ANY taper in 2014 after QE4EVA could set off a bond massacre of lulzy proportions.

Good job news = more likely to taper some of QE.  ZH is interested in this, like all lovers of liberty, because we want this thing to blow.  "Increasing" employment = more taper talk.  We want this thing to prove that this entire thing is all a sham, the economy is still in a depressed state, and that despite the "improved" job "numbers", that the "recovery" is all bullshit, especially where it actually counts for 70% of Americans: the Labor Market.

Employment is NOT good for stock markets.  The S&P increased YOD by 12% with 9+% unemployment; 3-4% when it was at 5% unemployment. 

It's going to be pretty fucking funny to see those scratch their heads when the DJIA crashes despite
employment" being under 7% (which is projected by 2015).  Remember, in 2008, employment was at about 5.5-6.3% when the thing blew.

If you want this thing to crash......root for good employment numbers.  We all know its bullshit because unlike the assholes who "report" on "data" showing the "situation is improving".......we actually have friends who try to get work, who get paid shit, who can only find temp jobs and hate their careers (while their taxes get raised).

Main Street will only thrive when Wall Street dies. 

Wed, 07/03/2013 - 07:48 | 3717126 sbenard
sbenard's picture

But this time really IS different! It just HAS to be!

Wow that hopium sure is strong stuff!

Wed, 07/03/2013 - 07:48 | 3717127 Caveman93
Caveman93's picture

I quit my job on Friday...whoops.

Wed, 07/03/2013 - 07:52 | 3717140 andrewp111
andrewp111's picture

A lot depends on whether the green line rolls over before or after the Midterm election.

Wed, 07/03/2013 - 08:03 | 3717167 Goggles Pisano
Goggles Pisano's picture

More QE......BTFD.

Wed, 07/03/2013 - 08:22 | 3717213 overmedicatedun...
overmedicatedundersexed's picture

with a robust jobs economy we need millions of workers - since we abort our own we import what we can't birth.


Wed, 07/03/2013 - 08:32 | 3717254 asscannon101
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