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Goldman's Swirlogram Posts Worst Reading In Over A Year
With G10 Macro data the most negative in 8 months, it is perhaps unsurprising that Goldman's Advanced Global Leading Indicator dropped further - to its lowest in at least a year. Firmly in "slowdown" phase, Goldman remains adamant that "weather-related" inputs will mean this will all be fixed any day now (apart from the fact that the trend has been down for months now). None of the factors improved, as momentum also slowed notably.
Via Goldman Sachs,
...
The February Advanced reading signals a further month of activity growth deceleration and continues to locate the cycle in the ‘Slowdown’ phase. While the speed of deceleration does not appear to have increased by much, the overall level of Momentum has fallen significantly over the past six months. However, given the weather-related distortions to US data, we will wait for the Final release with the full set of components for a firmer signal.
...
None of the seven Advanced GLI components have improved in February so far but the level of deterioration has differed widely. Weakness was most pronounced in the Philadelphia Fed headline and New Orders less Inventories components (the Advanced proxies for our Global PMI and NOIN aggregates), which both declined sharply.
...
The February Advanced GLI places the global industrial cycle in the ‘Slowdown’ phase, characterised by positive but decreasing Momentum. This phase is generally less supportive for risky assets than ‘Expansion’. The February Advanced reading continues to signal deterioration in the global data, following a strong run over the summer. The drop in growth levels since August is certainly worrisome...
However, given that US data will likely be distorted by weather effects for some time, this could weigh on the GLI in the near term.
So we'll ignore it?!?
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'Bad' is the new 'good'. 'Worst' is the new 'best'. Party on.
http://1.bp.blogspot.com/-Rc8k_D3yYoE/Tw4IyOKMysI/AAAAAAAAAls/awgasVzJMf...
Earnings are going to need a big shot in the arm to get this corpse moving again, pretty soon. Like, July, soon.
Ted Nugget is out hunting for a pardner to give him a good pounding for being such a bad , bad boy, any of you fellers up to the task?
See what happens, Larry, when the Fed cuts a measly 20 billion a month for a couple months....??
The way I see it, is Golman's Swirlogram is a piece of shit.
Lloyd Blankfein will be one of the first in line to get a "SWIRLYgram" when the day comes...
Part of the Baffle em with Bullsh!t methodology
Looks like a hemroid is forming on Lloyd's ass!
the squid and that london cetacean both need to administered a swirly
Weather ! Yes !
What does the Swirlogram show for the top 20%?
LOL. Better yet, for the Top 1% and Top 1% of the 1% (0.01%), i.e. the 1 in 10,000.
I'm actually interested in the 1 in 100,000, the 0.001%. The guys making >$10 M/yr.
Cause they work 2,400,000 hrs/day (3 shifts of 8 hrs x 100,000 people) and have the brains of 800,000 people. If I do the math on the wattage of a human brain (20W) x 800,000, their 16 MW brains would emit white light like gods. Maybe that's why they feel like they are gods.
Swirl as in flush?
I know Wall Street is anxious to flush a lot of retirement accounts and pension funds down the toilet.
I mean, it's been at least five years since the last time.
They will cash out, flush, then get bailed out.
All over again.
The whole country is in a swirlagram... by no means do I mean to jack this thread but this is unbelievable.
New Obama initiative tramples First Amendment protections
By Byron York | FEBRUARY 20, 2014 AT 5:48 PM
Topics:
Barack Obama
First Amendment
Technology
FCC
If the FCC goes forward, it's not clear what will happen to news organizations that fall short of...
The First Amendment says "Congress shall make no law…abridging the freedom of speech, or of the press…" But under the Obama administration, the Federal Communications Commission is planning to send government contractors into the nation's newsrooms to determine whether journalists are producing articles, television reports, Internet content, and commentary that meets the public's "critical information needs." Those "needs" will be defined by the administration, and news outlets that do not comply with the government's standards could face an uncertain future. It's hard to imagine a project more at odds with the First Amendment.
The initiative, known around the agency as "the CIN Study" (pronounced "sin"), is a bit of a mystery even to insiders. "This has never been put to an FCC vote, it was just announced," says Ajit Pai, one of the FCC's five commissioners (and one of its two Republicans). "I've never had any input into the process," adds Pai, who brought the story to the public's attention in a Wall Street Journal column last week.
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Advocates promote the project with Obama-esque rhetoric. "This study begins the charting of a course to a more effective delivery of necessary information to all citizens," said FCC commissioner Mignon Clyburn in 2012. Clyburn, daughter of powerful House Democratic Rep. James Clyburn, was appointed to the FCC by President Obama and served as acting chair for part of last year. The FCC, Clyburn said, "must emphatically insist that we leave no American behind when it comes to meeting the needs of those in varied and vibrant communities of our nation -- be they native born, immigrant, disabled, non-English speaking, low-income, or other." (The FCC decided to test the program with a trial run in Ms. Clyburn's home state, South Carolina.)
The FCC commissioned the University of Southern California Annenberg School for Communication & Journalism and the University of Wisconsin-Madison Center for Communication and Democracy to do a study defining what information is "critical" for citizens to have. The scholars decided that "critical information" is information that people need to "live safe and healthy lives" and to "have full access to educational, employment, and business opportunities," among other things.
The study identified eight "critical needs": information about emergencies and risks; health and welfare; education; transportation; economic opportunities; the environment; civic information; and political information.
It's not difficult to see those topics quickly becoming vehicles for political intimidation. In fact, it's difficult to imagine that they wouldn't. For example, might the FCC standards that journalists must meet on the environment look something like the Obama administration's environmental agenda? Might standards on economic opportunity resemble the president's inequality agenda? The same could hold true for the categories of health and welfare and "civic information" -- and pretty much everything else.
"An enterprising regulator could run wild with a lot of these topics," says Pai. "The implicit message to the newsroom is they need to start covering these eight categories in a certain way or otherwise the FCC will go after them."
The FCC awarded a contract for the study to a Maryland-based company called Social Solutions International. In April 2013, Social Solutions presented a proposal outlining a process by which contractors hired by the FCC would interview news editors, reporters, executives and other journalists.
"The purpose of these interviews is to ascertain the process by which stories are selected," the Social Solutions report said, adding that news organizations would be evaluated for "station priorities (for content, production quality, and populations served), perceived station bias, perceived percent of news dedicated to each of the eight CINs, and perceived responsiveness to underserved populations."
There are a lot of scary words for journalists in that paragraph. And not just for broadcasters; the FCC also proposes to regulate newspapers, which it has no authority to do. (Its mission statement says the FCC "regulates interstate and international communications by radio, television, wire, satellite and cable…")
Questioning about the CIN Study began last December, when the four top Republicans on the House Energy and Commerce Committee asked the FCC to justify the project. "The Commission has no business probing the news media's editorial judgment and expertise," the GOP lawmakers wrote, "nor does it have any business in prescribing a set diet of 'critical information.'"
If the FCC goes forward, it's not clear what will happen to news organizations that fall short of the new government standards. Perhaps they will be disciplined. Or perhaps the very threat of investigating their methods will nudge them into compliance with the administration's journalistic agenda. What is sure is that it will be a gross violation of constitutional rights.
I know. I just heard about it on the news 5 minutes ago.
We're going to be a totalitarian state MUCH sooner than I thought. If figured a generation or two. Now I'm thinking by the end of Obama's second term. At which point he will proclaim himself "El Presidente for Life," I guess.
Re: What is sure is that it will be a gross violation of constitutional rights.
Bah, it's just a piece of paper.
Perhaps the same people who are working so diligently to stop the NSA will get on this after they win that battle.
Say, who IS working so diligently to stop the NSA?
The Constitution is suspended apparently. Though no one told anyone. How this stuff is not impeachable is beyond me.
planning to send government contractors into the nation's newsrooms to determine whether journalists are producing articles, television reports, Internet content, and commentary that meets the public's "critical information needs."
note to Byran: read the writngs of Wm. Colby -- gov't contractors have been in the Nation's newsrooms for quite awhile already. it's just that now another head of the hydra (same branch, different address) wants to muscle in on the turf.
WEll said, but less than 1% of the public know what you are talking about and only 1% of that group gives a damned. Being right and being heard are so different. Sleep well for you are alone.
STILL my favorite graph on ZH. I'm noticing a pronounced detour on the way to "recovery".
Ah yes...the old counterclockwise swirl & handle pattern.
Is it possible that blaming the weather is an inside joke? They start with a real report, real numbers, they say what the numbers would suggest, then the conclusion completely goes off the rails and blames it on the weather? It could be a meme like "that's what she said"
This pattern of contraction is not new, just newly revealed (outside of GS). Hold on because the adjustment coming will curl your lovely locks, my dears. This is the old hit them with shit because they know it is better than being ignored.
That (3) headed hydra aka Jan Hatzius, will tell the muppets anything they want to hear in order to fleece them...
If things are so bad why were Goldmans traders in the pit today buying spoos with both hands?
judging by average move left on the x-axis, we will be in contraction area in 4 months.