Goldman's Global Leading Indicator Collapses Into Slowdown

Tyler Durden's picture

The best silver lining Goldman Sachs found when faced with the total and utter collapse in their global leading indicator swirlogram was - (probably) stabilizing. The only improving factor across all their global economic components was the US initial jobless claims (and that has been a farce wrapped in a debacle for 2 months of 'glitches'). Having led global industrial production for a few months, it seems the indicator is crashing back to reality as the summer's hopefulness is exsanguinated from hard and soft data around the world.



The Philadelphia Fed headline and New Orders less Inventories component (the Advanced proxies for our Global PMI and NOIN aggregates) both fell.

The Baltic Dry Index was also lower after some improvement in October and the S&P GSCI Industrial Metals Index decreased after last month’s uptick.

The University of Michigan survey (an early proxy for our Consumer Confidence Aggregate) continued its decline after the fall of last month, while the CAD and AUD TWI Aggregate weakened further.


But apart from that... it's all going great...

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LetThemEatRand's picture

Goldman's real leading economic indicator is how much money Goldman is making.  And they are fucking killing it.   Everything else is 






jcaz's picture

Umm,  you might wanna ask their FX desk about their performance lately-  not even the squid gets them all right.

Cdad's picture

Yay...more evidence of our dystopian recovery!

I'm sure Ben Bernanke is just lovin' it all.  Thank you, Ben, for the economic wasteland you have made for all the world to suffer with.  We really appreciate it. 

chump666's picture

Wow!  "Dystopian"  so true.  Scifi writers of yesteryear must be rolling in their graves, others still with us must be looking back over their work going, "nah...for real?"  Yep, we just entered a future perspective that has been written about debated and philosophized.  It's now our reality.


BorisTheBlade's picture

It's called new normal, same as old effud up. One notable difference with sci-fi is that dystopian reality isn't as cool and romantic as in books, it truly does suck for many people.

jeff montanye's picture

rand:  everything else is defeatist talk?  at the top even the bears are bullish (or at least cowed).

Flakmeister's picture

Hey Tyler,  nothing on coke snorting Tea Partier who claimed Cartegena was his "favorite vacation spot"...


Tsk, tsk....

stant's picture

nobody cares. everybodys wondering where thier next bowl of popcorn gona come from. the shitstorms just getting started

Number 156's picture

Relax Flakmeister, most of us here could care less about a doper politician. At some point in time, you will come here to bemoan them all, republican crony capitalist and champagne socialist democrat.

Flakmeister's picture

My point is that if it had been a Dem, Tyler would have put it up...

Hardly a fair and balanced skewering of the political structures that the majority espouse here ( how often is the false left/right dichotomy invoked?),,,,

The beauty is that he voted for making Food Stamp recipients pass drug tests....

Hey, if you talk the talk, you better walk the walk in my book...

I'm for getting rid of all the two-faced hypocrites, both Dem and Rep...

Never One Roach's picture

Most assets are deflating at warp speed right now---except for the two things the Fed is pumping up artificially; namely, house prices and stocks.

I expect both of these to correct sharply at some point in line wiht everything else.

Dr. Engali's picture

Looks like the shit's gone from swirling around the bowl to making its way to the sewer.

TheFourthStooge-ing's picture

It circled the bowl one last time and then collapsed into flushdown.

thismarketisrigged's picture

none of this matters.


the fed will just continue to not let the market drop.


look at futures now for example, u would think after being up 10 percent in last month, that ''investors'' may want to take some profit off the table, yet when futures r not fucking spiking on bullshit, they just stand flat.


when was the last time the market was bound to open -150 dow pts or something like that?


this shit is beyond insanity at this point, fuck goldman sachs, i fucking hope everyone who works for that fucking dirty bank suffers terribly.

CanRan's picture

The fact that its rigged is obvious...The game changed with Bernanke's use of the word "orderly" 5 years ago. Since the systemic crash of '08 - Main Street runs purely on momentum, while Wall Street runs on the back-stop of imaginary intervention.

Imagine what effect $100 a barrel oil would have on, let's say airlines, a dozen years ago. One would expect that the airline "index" would suffer dramatic moves down in value, allowing, or encouraging consolidation in the industy organized by the best and brightest group of CEOs. 

So, since the above condition would also surely mean the loss of thousands or hundreds of thousands of jobs (under generally accepted accounting principles), one could imagine that a better idea would be to change the accounting principles to  reflect, or give the appearance that airline companies can be profitable with the price of oil at $100 a barrel...If only run by the right people...

"Mark to model" is the imaginary condition on which the "casino" is running. Therefor: the banking system was re-capitalized and consolidated by the very institutions that brought about the systemic anomaly.  Why?

Because they know the numbers. They have everyones accounts, insurance/pension contracts, and the connections to utilize historical economic performance data, with a partner in Central Banks, to shape the narrative that continued deterioration of Main Street economic conditions is actually economic expansion.

Or none of this makes sense...Can't wait for those new Super Bowl ads....

q99x2's picture

Holy shit the world is under ObamaCare.

infinity8's picture

I'm just chiming in to applaud the use of "exsanguinated". Can't remember the last time I heard the word.

Mr. Crisp's picture

I've never heard of the word before (I admit it), so I looked it up:

verb (used with object)
1. to drain of blood; make bloodless.

verb (used without object)
2. to bleed to death.

Exsanguinated seems like a very appropriate word for what's happening to many of us these days. Such as: As a hard-working, patriotic American, there are a lot of days when I just feel like I'm being exsanguinated.
Exsanguinating.....Oh! You're talking about bankers again.
Which exsanguinator should I vote for?
Did you know that, officially, the number of people exsanguinating the taxpayers in America is at an all-time high? 
My nephew is going to an Ivy League university! He's gonna study Exsanguinating American Culture.

WTFUD's picture

Blankfiend the blood sucking leach vampire who deserves a stake through the heart.

W74's picture

I'm still trying to come up with a moniker for Yellen.  As far as I can tell she's a cross between ET and the Pillsbury dough boy.  Gotta be something better out there.

chump666's picture

AUD getting slammed: proxy for China slowdown.

orangegeek's picture

Goldman lost $1B from currency trades.


Thats a shame.