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ISM Update: "We Have Recalculated And Confirmed: The Economy Is Accelerating"
What a difference a few vocal complaints from the administration and central planners make.
First, we had this:
- ISM'S HOLCOMB SAYS DROP MAY BE JUST A `SLIGHT PAUSE'
And this contained in the pre revision-revision report:
The report was issued today by Bradley J. Holcomb, CPSM, CPSD, chair of the Institute for Supply Management® (ISM®) Manufacturing Business Survey Committee. "The May PMI® registered 53.2 percent, a decrease of 1.7 percentage points from April's reading of 54.9 percent, indicating expansion in manufacturing for the 12th consecutive month. The New Orders Index registered 53.3 percent, a decrease of 1.8 percentage points from the 55.1 percent reading in April, indicating growth in new orders for the 12th consecutive month. The Production Index registered 55.2 percent, 0.5 percentage point below the April reading of 55.7 percent. Employment grew for the 11th consecutive month, registering 51.9 percent, a decrease of 2.8 percentage points below April's reading of 54.7 percent. Comments from the panel reflect generally steady growth, but note some areas of concern regarding raw materials pricing and supply tightness and shortages."
What? Growing slower than last month and missing expectations? But... but.. this will crush consumer confidence in rigged markets and manipulated data. Retract! Retract!!!
Sure enough, a few hours later we get this.
“We apologize for this error. We have recalculated and confirmed that the actual index indicates that the economy is accelerating,” said Bradley J. Holcomb, CPSM, CPSD, chair of the Institute for Supply Management® (ISM®) Manufacturing Business Survey Committee. “Our research team is analyzing our internal processes to ensure that this doesn’t happen again,” he added.
“The May PMI® registered 55.4 percent, an increase of 0.5 percentage point from April’s reading of 54.9 percent, indicating expansion in manufacturing for the 12th consecutive month. The New Orders Index registered 56.9 percent, an increase of 1.8 percentage points from the 55.1 percent reading in April, indicating growth in new orders for the 12th consecutive month. The Production Index registered 61.0 percent, 5.3 percentage points above the April reading of 55.7 percent. Employment grew for the 11th consecutive month, registering 52.8 percent, a decrease of 1.9 percentage points below April’s reading of 54.7 percent. The Supplier Deliveries Index registered 53.2 percent, 2.7 percentage points below the April reading of 55.9 percent. Comments from the panel reflect generally steady growth, but note some areas of concern regarding raw materials pricing and supply tightness and shortages.”
The Manufacturing Report on Business® can be traced back to the start of the survey in 1923 and since then it has become a reliable planning tool for businesses and governments. “We are committed to maintaining the integrity of this report,” Holcomb said.
The error resulted when the software incorrectly used the seasonal adjustment factor from the previous month.
What else can one say here: like all the data from the BLS, like all the data from the Department of Commerece, we now learn that all the data from the "private sector" as well is subject to momentary manipulation the second it reveals anything but the propaganda lie.
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That's so cute that Brad actually believes what he's being fed to read.....
See, when you are cooking the books you must use different spices, you know, seasonings....
Thus spake Baghdad Brad.
Surprise, surprise... they threaten rating agencies... why should they stop there? That's okay, all you idiots keep trading their paper like there's nothing really wrong with any of this...
Somebody done got told!
It's official, the US is now a 110% pure banana republic truman show state. And the US has the audacity to bitch about China's reporting.... jesus murphy.... epitome of hypcrisy.
“We apologize for this error. We have recalculated and confirmed that the actual index indicates that the economy is accelerating,”
Correct. The economy is in fact accelerating.
Of course anything going over a cliff in free-fall accelerates...
Full retard to protect the lies.
November's coming Fast and Furious this year.
Remember all of the lying and fudging of economic indicators done to make the economy look better under Bush?
I sure don't.....but hey "both parties are the same".......yep, uh-huh.....
So you're saying the party that trumpted the juiced boom that led to the crash that spawned the current recession and thus the fake recovery is somehow better than the party that is trumpeting the fake recovery?
This is how you justify that one shit party is better than the other?
That's like saying getting AIDS from a hooker is better than getting AIDS from a gay person.
IF, if you were forced to choose... would you prefer to get aids from a hooker or a gay person?
WELL...
A hooker won't really care, and while she chews his/her gum and looks all whorey, he/she'll tell you that you 'took your chances', so 'sorry, Charlie/Charlene' as she counts your money.
A GAY, on the other hand, might actually offer you sympathy, and visit you in the hospital (until you are dying, at which time he or she will bring a lawyer in to re-write your last will and testament so that they get all the money anyway after you're dead).
How about:
NO.
I voted for Rombama.
I get a 'double-plus' good, because I watched my nation get AIDS from GAY HOOKERS!
Bernanke and Geithner were SUCH BITCHES, because they didn't bring lube, but at least I have their semen inside now, so Yellen's strap-on action and Jack Lew won't hurt as much because I'm 'pre-lubricated'. I'm not so sure that Yellen actually isn't a man, though... but I'm pretty sure Lew has a small one...
32 feet per second per second. That's the rate of acceleration at freefall in gravity and atmosphere (WTC7 actually went down at freefall for over 100 feet, you know, and at one graph point, actually EXCEEDED this). The top speed is limited by air resistance of the object, that will eventually match the force of gravity in a parabolic curve. a human body, for example won't fall at more than a little over 300 MPH (as I recall, but I could be incorrect) unless it is blasted in to little itty bitty pieces (a sixteenth of an inch or less, like they found on top of buildings several years afterwards), and then they simply float down like dust or something within the overall pyroclastic flow.
Yeah, I MISS President Cheney. He was so good at planning shit!
I've taken it upon myself to educate, and am now in the middle of the book 'My Pet Goat', as read by Vice-President Bush. Hopefully, President Biden will not send an armed drone over my house because of this. HIS Veep, Soetoro, wrote a book once, but I didn't like it. I couldn't figure out who his daddy REALLY was. I'm still trying to figure out what the word 'Madrass' is. Maybe it will be explained in 'My Pet Goat'.
OH.
Are you trying to tell me that there are people who STILL think that the Democrats and the Republicans are DIFFERENT from each other in their ultimate goals? They both have the same bosses, and the same contributors, and the same agenda. The ONLY difference is in the initiation and actions that get the CONUS there (The Republicans are soft fascists, and the Democrats are soft fascists as well, but the Republicans are Totalitarian Socialists, and the Democrats are Totalitarian Communists. OH! I SEE the difference!)
Fighting an endless war against terrorism on 2 fronts 'off the books' made no contribution to fudged economic numbers?
Plenty of other examples, too.
Who are the "idiots" to which you are referring?
Economy is accelerating so fast that it is going to start travelling at the speed of light soon.
Warp 1, Warp 2, Warp 3.... Zimbabwe
The economy is accelerating so fast that it's moved beyond the point of positive growth and is now treading in another dimension where everything moves backwards.
It's just accelerating backwards faster and faster.
...ludicrous speed
Double post
I was trying to remember that Space Balls reference
"What the hell was THAT?"
"Spaceball One!
"They've gone to PLAID!"
http://www.youtube.com/watch?v=ygE01sOhzz0
Felonious Bunk
Come on... anyone here who adds volume to this shit-show helps maintain the illusion that it has any credibility...
a little 'seasonal adjustment' to moral imperiatives
just move along, now
Spiced fudge.
Yumee.
I also believe... that they probably have a gun to his head. Be convincing, or else...
The big number coming up is the NFP. It would be instructive if someone could create a chart which weights the average and or median salary of jobs created since the "recovery" vs. the average and median salary of jobs lost since the recovery? Is that data available anywhere?
I'm guessing there is someone with the wherewithall to create such a chart, problem being that the only people that it would matter to would be those that frequent this and a few other sites with some credibility.
If such facts were to make an MSM site somehow, would be buried so far you would have to click 10 links to find it.
After the 6th update I wonder if they got it right yet??
Their latest release states that the "Software used the data from the previous month". The SOFTWARE did it!!! HAHAHAHAHAHAHAHA.....
It wasn't the software.
It was the software engineers, who forgot to account for the cold weather. You see, the speed of electricity and light actually slows down and therefore, thier software simply had to slow down as well, leading to the natural result that all the mathetics from the previous month were used as a metric by default.
No one will be reprimaded, though. It was simply 'a failure of imagination'. No one could have envisioned this mistake and planned ahead to take action in case of this event actually happening. Um...
SEE? You don't really understand how it works.
HERE, let me tell you about COMMON CORE MATH...
http://www.youtube.com/watch?v=sSE4hmdRyXo
And in other news, the President's dog, Bo, will be holding a press conference on how the economy is improving every time he's let out for a shovel ready dog bone burring press junket.
Hmm.
If they used the seasonal adjustment for the previous month -- which was colder, then tha adjustment would be upwards to reflect that abnormal influence of the cold.
So if the correct adjustment was for a warmer month, it should be less upwards.
This correction should have been weaker, not stronger.
Me thinkith you thinkith too much....... :>)
Hush now. That way of thinking is so old school.
What "integrity"?
Viva Las Vegas...
it's when you're in your car stuck in traffic and you need to take a shit but you can't... or shouldn't... and you don't want to... but yet you want to... but you don't do it. Integrity.
fuck it! just do it! now THAT is freedom dude!
+100. that there is some pretty funny shit - and a new definition for integrity to boot!
There really is no point in rehashing it all. They got the desired result from the market which is all too happy to play along with the fraud, no matter how overt it is.
Whatever the final catalyst may be (pork? unless they start cutting it with human flesh) it will catch everyone, present company excepted of course, by complete holy fuck a duck surprise. Millions of pollyannas shitting themselves in unison. And I'm sure I'll live to see it. Damnit.
No shortage of Consulting work for Carney the O-Lier!!!
LOL!!!
Whatever... Accelerating right into the ground.
At ludicrous speed.
Its an election year. The carnival mirrors and smoke machines will try and hide
this reccessin, within a depression, for as long as inhumanly possible.
The car dealer lots are still overflowing down here ,with no sales in sight
during our slow summer season finally here in Florida.
Most of the businesses I know are on their last legs, about to keel over from
the prolonged Obozo recovery.
Soviet sooner than we think, huh?
Forward!!
"Look around your neighborhood! You may see people with books, or wearing glasses. They may even frequent the Public Library, a corrupt institution. Report these Dangerous People to the DHS immediately! They are called "literate," or sometimes "intellectuals." They pose a serious threat to national security!! Please remember the toll-free number to Shotgun Joe's task force!"
What's Janet Napolitano's number?
I saw her on the telescreen at Walmart today, and she wanted me to call her if I saw something.
I saw someone, who wasn't overweight, not riding in an electric chair, and wearing glasses, actually picking up BOOKS near the checkout. BOOKS! I watched as he bought some charcoal and lighter fluid, and he paid for it with CASH! He was WHITE, too, and I SAW that cross dangling around his neck! I think he might have been, oh, I don't know, one of them white separatist Christians or something. AND, he was a MALE! Middle-aged caucasian, between 40 and 60, Five feet 10, stocky build, last seen exiting the Walmart parking lot in a older pickup with Ron Paul bumper stickers on the back...
http://www.youtube.com/watch?v=mQZhvuxf0-c
Bradley J. Holcomb, CPSM, CPSD
The worthlessness of one's position and ability to do one's job is inversely proportional to the number of "degrees and credentials" behind one's name.
You get one title. That's it.After that, it's superfluous.
The epitome of this is half-wit nurses running around to meetings all day, making my life harder with idiotic protocols, meanwhile they don't know how to diagnose the shit running down their legs.
Barbara Ratchet, RN, BSN, APN, CRNA, CNM, PMS, LMFAO, WTFBBQ
Let's raise this flag, and drop the ball to see where it bounces.
Bradley J. Holcomb, PMSNBC, PTSD, ADHD, IBS.
Can someone create a chart which weights the average and or median salary of jobs created since the "recovery" vs. the average and median salary of jobs created since the recovery? Is that data available anywhere?
Imagine a straight line ascending to the right at at 45 degree angle.
The jobs created since the quote on quote recovery have been jack. Baghdad Bob from BLS is reporting otherwise. Keep gathering gold and silver.
"Can someone create a chart which weights the average and or median salary of jobs created since the "recovery" vs. the average and median salary of jobs created since the recovery?"
You're asking a lot, here.
One must assume first that recovery and "recovery" are not synonymous, thus differentiating two different time periods; and these time periods cannot overlap. Further, the 'recovery' and the "recovery" are actually the recovery; as defined by the book 'Kensyian Economics For Dummies' (ISBN SOETORO 2008).
I'm not well versed in these topics, so I must refer you to one who is. Don't be SILLY!
http://www.youtube.com/watch?v=-6u1kG7yuy4
The choice between Chevron 'convenience center' jobs and 'Walmart' checker/stocker jobs is one which must be weighed with the utmost care.
Desperation...
What a bunch of fuck ups.
The market did not react to this.
There is no market.
And the 10 yr was up 4 bps last night overseas before any reports were released.
This economy seems more like a spastic colon every day, going from constipation to full blown shits.
Government cheese will do that.
say what?
bwahaha
Nothing like a little manufactured volatility to goose an otherwise zombie market.
BTFFS.....Buy The F'in Freudian Slip!! Just amazing how all of this insanity continues.
Thanks to the accelerating economy your chocolate rations will be increased by 20 grams from the current allocation of 100 grams to your new allocation of 95 grams. Have a nice day citizen.
IKt's not desperation - it works every time they do it... Cause Market is "Buying" lies as perfectly legitimate data and rallie on it...
The error resulted when the software incorrectly used the seasonal adjustment factor from the previous month.
Don't you just hate it when software up and does that?
Stupid software!
Yeah, it's a bit like when my phone software incorrectly sent a proposition to my ex-girlfriend at 2am this past Saturday morning.
Well, when te Titanic was sinking, just before if went down, the ship first leveled and than pretty fast the bow dived and it went vertical pretty fast, the ship broke and sank.
That was after kate got screwed in the back of a renault.
Hard to say where we are exactly.
+10 :)
"It's the computer's fault." Sure, OK, great, thanks.
HAL 9000 DID IT!!
"I'm sorry. I can't do that, Debt."
If only someone in congress could say the words you just said. "I'm sorry, I can't do that debt."
I'm sorry, Debt. I'm afraid I can't do that.'
http://www.youtube.com/watch?v=7qnd-hdmgfk
PERSPECTIVE VIEW:
http://www.youtube.com/watch?v=dSIKBliboIo
I'm going to take a wild guess that it is something like PMI_version0.0.3_copy_REAL_usthis2.xlsx with a big button that says something like 'Update seasonal adjustment for month' that some idiot forgot to press.
I'm guessing it's simple criminality from the Obama administration.
that good old software blame problem returns ... a magnificent cover.
Microsoft just announced a patch, called 'climate change update'.
Since the previous month was colder, and this month was warmer, the algorythms in the program failed to account for this factor.
Please set your computer to accept 'automatic updating'.
"We took the raw data and multiplied it by the wrong phony number. Sorry 'bout that."
Note to ISM: Rejigger the summer intern training program
so that Excel's "Goal Seek" function is covered on DAY 1!
strange he would use that word "accelerating", like going into a black hole type of accelerating
Did the "soft ware " mistake the PMI for PMS I wonder?????
Find out what it needs to look like...and make it look like that
In other words.. Obama called him to explain that the number was to low. After all there is an election coming up.
See what I caught today..Fishing. www.Fishgaak.com
Why even bother with these reports anymore? Just say the economy tripled output last month and prices in stores fell by 50%. It wouldn't be any more believable and would save time.
Newly established international unit of stupid lying = 1 Holocomb
This may well be one of the roots of the problem.
https://www.youtube.com/embed/qteu4ld_SCE?rel=0
If you are under 40 this may not make sense.
Seasonaly adjust a survey? Next it will "seasonaly adjusted" votes.
Oh yeah... and .... its Tuesday tomorrow... so... enjoy.
My dogs DOS computer ate it.
That "software" has been used for many years? man, that's scary.
How come they are so suspicious about the "used" software all the sudden? Bernankiodiot called?
ISM's Lotus 123 worksheets have a virus.
Unreal - the "world economy is growing" meme rolls onward!!!!!
I thought they were still using Visicalc. They are moving into the 21st century now!
accelerating towards a Black Hole!
We lied, but then we realized we'd used the wrong lie, so we thought we'd try a new one.
That didn't work, either........