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Dismal Jobs Reports Sends S&P To New All-Time High
The 3rd miss in a row for private payrolls was enough to spark an engorgement of all things Federal-Reserve-liquidity related. Gold is jumping, Bond yields are tumbling, the USD is crumbling, and the S&P 500 is soaring to new all-time highs... sure, why not...
But but but the unemployment rate is at 5 year lows.... oh, we forgot, its irrelevant now that its "improving"... just as we always said it was when it was held up by any and all as 'proof' of the recovery
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Now, that is change you can believe in...
It gives us hope....
Obviously, the solution is MOAR QE.
It's what the people demand.
Understandable - Fed force feeding the markets with QE . When this overfed belly bursts , take cover.
Things are going great....we're dialed in!
For how long will the stock market move opposite to fundamentals?
As long as QEternity
A diet of cotton candy will work until diabetes sets in.
We are in a state where policy (seemingly without an exit strategy until proven otherwise) has boxed the economy into a corner where financial markets reward weak fundamentals and bad data. In an isolated society, I can see that working to infinity (in theory), but not with global competition.
Just out of curiousity, what fundamentals would those be? Eternal CTRL-P?
Call me naive but at some point in time, reality has to kick in, QE is obviously not working.
There is no plan B.
This IS plan B!!!
Longer that rationally possible
Until it doesnt.
At which point, fundamentals prevail - the "recovery" will disappear up ObeyMe's fundament.
QE to Infinity!
Day ain't over yet :)
Makes sense.
Typical of an official "market" that is no longer meaningful.
beating expectations, all the way down...
look at that FRN dive...
What blows me away laws is that if you would have told me the dollar would be here I would have told you crude would be $120. Instead gas by me is down 50 cents the last few months. It is mind boggling.
There is a lot going on behind the scenes. My brother, 20 years in oil and gas, has never been busier, but in general you have to realize oil and gas (and even coal) are controlled by international companies. If they wanted to turn the Bay Area into someplace like Sao Paulo Brazil, they could do it overnight. Watch the yields on sovereign debt, in a "debt is money" fiat/fractional reserve system, this is all that matters, period.
HOPIUM, what a drug.
Markets are saying "Keep Pumpin in the QE...Fed baby"
look at gold give up those gains. Wow. The Bernak has the SPY up 25% YTD and the 10yr back around 2.5%.
All hail the bernak.
No price discovery = Only price manipulations.
Now even I want to join the herd! This is *GREAT* news! It's all great news!
> Now even I want to join the herd!
This is precisely the goal of QE.
Groundhog day...
http://www.youtube.com/watch?v=Nt4JXKUv5MQ
Hopefully we get some negative Jobs reports in the next few months. I'm hoping for SPX 2000 before June next year.
Somebody who Sold Gold for 640 Mil at $1270 - $1250 on October 15th is in serious trouble now:
Max Keiser: Alasdair Macleod Investigates The $640 Million Sell Order Of Gold.
We continue to follow The Crime Of The Century - Gold market manipulations. Today we have Max Keiser who investigates with Alasdair Macleod the 640 million Sell order of Gold which disrupted the trading session on Friday 11th and was supposed to Kill the rest of the confidence in Gold safe heaven status. Chinese are not buying into it any more and moving fast now with their state level long term plan of diversification its Reserves out of US Dollar denominated assets.http://sufiy.blogspot.co.uk/2013/10/max-keiser-alasdair-macleod.html#
Gold should be up $50 right now. It is deader than dead.
Dead as a doornail, suppressed by the same gang that blows the bubble
I'm pulling for you fonz.....keep talking it down.
I hate you gold. I hate you!
Ag @$1341+, Ag @ $22.79+ right now.
All that matters:
http://instagram.com/p/X4poDNsDN4/#
High unemployment = higher stock returns.
The Fed does NOT care about employment. This is a farce.
My niggas. Bitcoin is where it's at
I'm pretty sure that the Fed can fix the unemployment situation buy buying more MBS securities off of banks. Cause you know, it trickles down or some shit. Trust me, I'm a doctor of economics.
This is what you get when a community organizer and a stray kitchen worker basically run the global economy.
But they are succeedin so far...
NO?
i really do not think we will ever see the market red again in our lifetimes.
this is insane.
The worst part is that these fuckers act as this number was not so bad.
and the revisions, july from 104,000 to 89,000, its absurd.
The policy tool formaly known as the market will never be allowed to go down any substantial amount. This will be the norm until TPTB provide cover for an overnight vaporization of a few thousand points. This will push everybody rushing into the "safety" of U.S.S.A treasuries and save .gov the politically difficult task on nationalizing your 401k. Nobody except for a select few will make any money on the downside.
1750 is critical; if it fails to hold look out for 1680 before the week is out.
1750 on the open. May get to 1800 by the end of the month. There will be a 50-100 point decline sometime in early Nov due to shaking call holders out, which should provide a great buying opportunity. It's the great "illusion of money" - when the measuring stick ($) is getting shorter everything it measures is getting longer
I wonder how that gold 'short' call from 2 weeks ago is working out for Goldman...
Gold is up almost 1%!!!! Look, quick, before it gets smacked back down.
It's up 2.3% now. Silver up 3.6%.
Breaking Bad.
September Nonfarm Payrolls Huge Miss - Gold Spikes Up, Data Leaked Again
We have September Nonfarm Payrolls with the Huge Miss and Gold Spikes Up immediately. Data was leaked yearly again with Gold printing: +$5 at 8.28 and +$18 at 8.33 Cowboys shorting the Gold market, according to Eric Sprott, must be in a serious trouble now. The yearly trade on October 15th has amounted to 640 million and Gold was Sold at 1270 - 1250 levels. Now with CFTC out of hibernation can we expect at least some kind of investigation? There are more and more calls about the US Dollar loosing its Reserve Currency of Choice status now. Default was avoided, but the damage is dome. All FIAT currencies are based on trust. The geopolitical shift is making its way to mass media and we are witnessing the groundbreaking developments in the Gold market. Nobody can manipulate it all the time and China will be busy writing "Thank You Cards" to the FED and related Cartel members at LBMA and BIS, buying all the physical Gold available for Delivery at this levels. We can forget about the Taper until mid 2014 now and Janet Yellen will be following the new FED's playbook written by Michael Woodford. Peter Schiff has dissected for this situation very well. http://sufiy.blogspot.co.uk/2013/10/september-nonfarm-payrolls-huge-miss.html#
The Fed's flowchart has only one arrow at this point.
The Fed is stuck in an infinite, recursive loop (that's what happens when you fractionally reserve too much!)
Yellen, Bernanke, Evans, Dudley and Fisher have decided to follow the Zimbabwe economic model.
Expect QE to be increased, not decreased.
So long US dollar.
Anyone seen the participation rate? Have we broken the 62% level yet? I figure we'll break 60% by the time we inaugurate a new president.
63.2%
Hmmm...jobs go down and the S&P goes up...
The S&P is just following a basic law of Bernankean Physics: What goes down must go up.
In experiments with mice, a scientist gave unlmited food and unlimited water to a starting population of 8 mice. There were no predators and no diseases. The only limit was space. The estimated carrying capacity of the closed ecosystem was 3000 mice. At first the population grew rapidly, doubling every 60 days until finally slowing and reaching an absolute peak at 2200. After the mouse population reached 2200 it rapidly went extinct and there were zero survivors.
What happened? The breakdown of complex social behavior had ruined the behavior of so many mice that when space did become available, the social capacity to reproduce was no longer there. Female mice were aggressive and attacked or ate their children. Many male mice didn't even try to have sex with them anymore, and withdrew in isolation. The rest fought and ate each other, despite there being unlimited fresh food available.
How does this tie in to QE? QE is like adding more food to the mouse ecosystem. Food was never the limiting constraint in the mouse population, and they still went extinct. So in reality, QE doesn't matter. They could have excess food or not, it makes no difference. But the breakdown of complex social behavior is irreversible and is obvious everywhere you look in the human population. Welfare queens abound, while graduates with science degrees from top universities can't even get any job at all. Birth rates are at their lowest in human history while pension promises and obligations soar to skyhigh levels.
This will all collapse.
Here is the experiment:
http://www.cabinetmagazine.org/issues/42/wiles.php
I expect the fed to increase the amount of money printing, but they will earmark it for creating ditch-digging type jobs. They will claim that everyone who wants work should have a job.
And conversely, anyone who doesn't want a job should have money.
When gold goes straight up, nobody (certainly not the ever-biased Tyler Durden) complaints.
<-- like other forms of debt, as no one wants their money back, all will be fine.
<-- like other forms of betting, as no one wants their money back, all will be fine.
You don't know the difference here do you? ... me either
bad news is good news, moar all time highs!
downtown is up town!
in this town...