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Manufacturing Production Disappoints As Utilization Rises To 5-Year High
Industrial Production data for September rose by 0.6%, beating expectations by the most in 11 months as pre-government shutdown data was 'helped' by a revision lower in August (from 0.4% to 0.2% growth). Manufacturing production rose only 0.1% (missing expectations of +0.3%) as gains in car makers' output was offset by declines in comptures, furniture, and applicances. Capacity Utilization surged to 5 year highs with its biggest beat of expectations since Dec 2010. All-in-all, a strangely mixzed bag of great and dismal data once again... Good enough 'trend' to warrant 'taper'? who knows... but we posit the cyclical trend remains and the government shutdown likely renegs some of this better-than-expected data when we see it.
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Nothing is going to be 'good enough' to warrent tapering. There will be no tapering, there will be no true price discovery.
Whoopty-fucking-do.
If you want to know how bad life in a cubicle sucks, compared to other humans, and marvel and how men with ginormous testicles utilize their capacity, then watch these two videos....
Red Bull Rampage
http://www.youtube.com/watch?v=x76VEPXYaI0&feature=player_detailpage
http://www.youtube.com/watch?v=Hv_DRJZZ2qI&feature=player_detailpage
I neither dwell in a cubicle and for sure neither will be caught riding a bike down a track like that. Holy hell, HH. Thanks for the vids.
This has been going on for quite some time. My kid's mountain bike has more travel than my enduro bike. My eldest was born in the Utah Desert, must be in his blood becuase they give him these bikes and just enough to get around to events and eat. Hell of a lifestyle.
See that pic that HH posted? You would be able to tell it was me by the yellow 'contrail' I would be leaving across the sky. My best to your eldest. I could only dream [actually it would be a nightmare for me] of being able to do something like that.
He is happy, Mrs LoP, not so much. Let him get it out of his system now. by the way, all the self promotion he has to do has taught him a lot about marketing, tutition free.
There is a lot to be said for a vacation in the wild in Utah (Zion National Park is wonderful). But, Utah is already well explored...!
Much of Peru has wonders which most of the world (for that matter, neither do most Peruvians) do not even know about, including the world`s third tallest waterfall (Gocta Cataract), a gigantic canyon rivaling our Grand Canyon (Sonche Canyon, Huancas) also Peru`s more famous Colca and (finally) the poorly-understood city/fortress of Kuelap. We did not have time to see the world`s largest orchid garden, a pity...
All within three hours of Chachapoyas (in Peru`s northern Andes).
And we kept hearing about all these places they are keeping quiet about as they have little money for buiulding roads and guarding ruins. Peru`s future might be as a tourist mecca vs. another Taiwan or S Korea.
Oh, and a possible huge gold belt (possibly rivaling South Africa`s "Rand"), which I am trying to learn more about.
Go see this country before you get old or feeble...
"The Wonders of Amazonas, Peru"
http://tinyurl.com/lmted2v
"comptures"?
Finally greens can be happy? US is "saving" lots of raw materials?!
And now back to the Fed pumpathon. It's all about the Fed. Taking the market ever higher.
With ever-increasing amounts of QE used to buy stocks.
No debt limit (expired with no new limit) on the US credit card. So it's to the moon spending.
This just in: former chief Kessler can't afford presents for his kids at Christmas this year because John Kerry is coming for his guns, LOL.
The big banks are forcing everyone who wants to buy a car into a new car if they don't have the cash to buy a used car in full.
You can't get financed on a car older than a 2008 from any big bank, not even Wells. Even my credit union jacks up interest rates on a 2008 to 6%. They also won't finance a car if it has over 100k miles.
2011-2013 model cars can be financed as low as 2.25% for 60 months with a 720 credit score. 2010 goes up to 3.5%, 2009 is 4.75%. Below a 700 the rates go up to 7.5%.
Yet at most dealerships you can get a brand new car for 0% with a credit score as low as 650. One of my local used car dealerships doesn't even carry cars under $15k anymore. The owner told me the people looking for those cars can't get financed so there is no point in carrying that inventory. The banks are killing the used car market.
Would you buy a 2010 Cruze for $14k at 7% interest, or a brand new one for $17k with 0% for 72 months? People buy a payment and right now new cars win out. Especially with the new 96 month loans that you can't get on a used car.
Everything is fucking backwards.
My aunt needed a new car because she lost her job and couldn't afford the payment on her new $12hr job. She tried getting a cheap used car but couldn't get financed anywhere. She couldn't even get financed on a $5000 pos. Then a dealer said, "Well, let's see what we can do on a new car." She got financed for 96 months on a $14k base model sedan and got a payment she could afford. Financed through Wells Fargo who wouldn't finance her on a $5000 used car.
Yep it's called the government telling the banks that the auto industry needs to be propped up.
Amazing how US GDP can 'grow' a trillion bucks regardless of recessionary capacity-utilization levels.
But somehow it's positive for stocks.