"Same Stuff, Different Year"

Tyler Durden's picture

How many more of these annual disappointments does it take before the world gets the joke...


The History of consensus expectations for US GDP... (notice they all go from the upper left to the lower left...)


Source: Bloomberg h/t @M_McDonough

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.
cossack55's picture

I'm beginning to wonder if the rest of the world even has a sense of humor.

flacon's picture

Ahhh.... It looks good. Promising, even. Buy more SPY and next year we will really take off to the up side, as long as you buy more SPY. 

outamyeffinway's picture

When the arrow is on its way back up.

icanhasbailout's picture

at least the chocolate ration went up again

NoDebt's picture

"Back and to the left.  Back and to the left.  Back.... and to the left."

kliguy38's picture

don't worry about the muppets. when they yank the flusher the muppets will react as usual with dismay and send their kids off to fight the banker's war with their little flags waving.......same shit .....different cycle

Silver Bug's picture

Extend and pretend, that is the only thing they know how to do. Pathetic.



Catflappo's picture

"(notice they all go from the upper left to the lower left...)"


Um , no, actually I am not noticing that.

fonzannoon's picture

the joke is the only thing that can take the market out is if we actually ever got real growth. luckily that does not seem to be an issue.

valley chick's picture

Agreed.  Days like today make me wish I never woke up to this nonsense.

PontifexMaximus's picture

......and for the time being will not be one.....as long as the CB ' s are in charge

Everybodys All American's picture

Which comes first? Unemployment goes to 0% or everyone is on foodstamps.

dontgoforit's picture

...to the lower right?

NotApplicable's picture

Meh. Given it's a GDP belief system, does it really matter anymore?

Or perhaps Tyler is telling us it will take no time to eventually go straight down?

syntaxterror's picture

Hope and change motherfuckers.

dirtyfiles's picture

its all BLS and people love it

neidermeyer's picture

As of today it's official ,, I will not use BS/BullShit in my speach ,, the new term is BLS.

CrashisOptimistic's picture

Also interesting is Federal budget numbers are derived from presumed future GDP.

As that presumed GDP estimate falls, so should Fed budget numbers.

They never do.

Squid Viscous's picture

who cares about GDP, there's plenty of cash on the sidelines!

HUGE_Gamma's picture

i read this in a textbook

"in the long run, equity market returns should track GDP growth"

ebworthen's picture

Was it written before 1913?

ebworthen's picture

Revise earnings and revenue expectations so you get a "beat", buyback corporate shares, go on "Mad Money" and talk about how bullish you are and that you're "cutting expenses" (firing employees and cutting corners), then BLS will put out B.S. about how employment is improving to keep people spending.

GDP "guidance" just a cog of the "baffle 'em with bullshit" 24/7 propaganda machine.

A lot of bellowing fog, with flames, a booming voice, and a projected image.

"Don't look at that man behind the curtain."


Rainman's picture

Here's another truthie joke.

'Economics is the only field in which 2 people can share a Nobel prize for saying opposing things.'

Myrdal and Hayek, 1974 , to be precise.

Hindenburg...Oh Man's picture

It's a "stock picker's market" for your "cash on the sidelines" in this market that is still "fairly valued", and while you could "take a few chips off the table", that would only be to keep enough "powder dry" for the 5 minute dips that must be bought.

Squid Viscous's picture

On bloomberg radio Phil Orlando said it was a superbly strong Easter/Passover for the consumer, which bodes well for "back to school" ... not sure if it was really him live or maybe they just keep playing the same clip from 2010 every year around this time?

undercover brother's picture

fundamentals no longer matter because the fed has deemed it so.  QE coupled with zirp for the next few years trumps any lousy fundamentals. furthermore, the idea of making easy money attracts dumb money.  you all know the rest.

Squid Viscous's picture

can't believe i'm buying 197 SPY puts, sometimes I have to pinch myself to make sure I'm not dreaming

Atomizer's picture

Eric Holder, Obama and Reggie will have to organize a three way sexual environment event to decide what faith approaches you. 

It's so fun to corner these rat bastards holding the taxpayers cheese slice.

Platinum_Investor's picture

Nothing matter other than is there more stimulus potentially coming?  YES?  OK BUY!  until that stops the markets will keep rising.



Atomizer's picture

Sure, buy into market. Your gains are gone. Everyone pays the IRS payment game. You either throw everything into the game and wait for the cheque or don't let them borrow your money. April 15th is a good day. Tax inflows are a 11 month waste. 

dragoneyes74's picture

My monkey is outperforming me again.  

I told him it's not easy buying strength.  

He laughed at me, then removed the sell button altogether.  

Dude is fearless. 


Squid Viscous's picture

no i think it's lower left to upper right, according to Gartman...? except for Gold of course

John Law Lives's picture

"How many more of these annual disappointments does it take before the world gets the joke..."

... and the elite are laughing their sick, fvcking arses off as they pile their treasure higher and higher...


Yen Cross's picture


The 1/2 life of human mental retention over the last 6 years, is on par with the fruit fly...

  We're clearly seeing the effects of instant gratification. My garden this year, has taught me more about prudent investing than any edible i-Shit ever will.

B2u's picture

The numbers will always be good.  If not, just let the ISM change them.

Spastica Rex's picture

Can the existing global system continue to function at less than 3% growth?

CPL's picture

It's powered by hot air and bullshit.  Endless amounts of it.

neidermeyer's picture

It's not bullshit anymore ,, the newspeak for BS is BLS.

beegle's picture

welcome to the new normal

kill switch's picture

Fukushima Daiichi will settle all this shit!!!!Have a nice day.

Squid Viscous's picture

it's gonna blow? when? soon? should I buy Iodine tablets ?

Itchy and Scratchy's picture

Best Tetris game ever!

Colonel Klink's picture

Hope and change = lies and bullshit

orangegeek's picture

It places the printed money into the stock market.

nink's picture

Looks fine to me.  The bigger the fall the higher the POMO so BTFD new QE soon