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The Market Reacts To Mark Zandi's "I Don't Believe It" Jobs Data
While Mark Zandi may not "believe the data,"
Mark Zandi FTMFW: "I don't believe this data"
— zerohedge (@zerohedge) September 5, 2014
It appears the market does (for now). The dismal jobs data sparked a kneejerk bond rally, sending yields plunging from the week's highs, and stocks and gold jumped higher (we assume on hopes that bad news is great news for assets as Yellen will have an excuse to be more dovish). The initial moves are fading (as always) but stocks are still pushing higher.
We leave it to this gentleman to explain...
How the f*** can you trade bad-news-is-good-news in the 6th year of a growth cycle?
— Alan Farley (@msttrader) September 5, 2014
Charts: Bloomberg
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So fucking broken....
Which? Zandi or the "markets"?
Yes.
Not many believe this BS for 6 years....they just go with the flow....that's how you make fucking money folks
Mark, will you "believe it" when next month's number is bolstered by 80k job taken OUT of this month's report?? RIGHT before the elections....
I guess the Birth/Death model adjustments didn't save the BLS from themselves this month...
If you don't like the real number just ignore it. If you really like the number buy the dip. Fuck just buy the dip apparently will NEVER END.
Right now there's not enough follow-through selling to stop the BTD strategy, but the dynamics have changed and at least there are sellers out there. Once the BTDs get crushed a few times we'll be in business.
Wonder if he'd have believed it if it were 500,000???
I like to dream also. As long as the Fed has skin in the game, this party can go on for a very long time. You have to think in cosmic terms like solar flare for a reset.
Not really, a good timex and a map will do just fine if ur on a budget.
Unfortunately, there are far too many participants in the "official" market that are being forced to buy. How's that 401k looking?
The ECB annouced they are printing a trillion more....are you kidding?
Kick yellen in the balls and Dragass in whatever it is he has down there, the fat bastard.
Some douschebag from the Labor Dept. is going to say142K is positive and "we´re heading in the right direction!". Just wait and laugh.
I blame it on the sun. Too much damn sun in August. Need more snow. Wait.....never mind.
:)
by now the dumbest person in america should see - bad job #s and the market goes up
is it not rigged and fed controlled main street?
We will have to wait for what Biden says about this.
Didnt Peter Schiff predict this would happen ?? Why does anyone still doubt his predictions ???
Because he's been wrong as much as he's been right. Not saying its his fault but thats what happens when prognosticating in a fixed market.
wtf is going on when the markets go sky high on bad news? someone please explain when we entered the twilight zone.
It was the early sixties when the politicians were zombofied and the citizens slept, much like the parents of the day.
IS this a serious question? I am guessing YES because you are new.
It's really very simple, markets go UP on bad news becasue the market players expect positive FED intevention (more QE, Mini-Buying, etc) after bad news to keep it up.
I use to have faith in markets before cronyism took over. There were ups and down, but it muddled along. Now it is dierctly rewarding the bad guys over and over with no punishment for them. I want the system broken up! Today!
Request denighed, but it's still on Santas list, so don't loose hope.
I posted a month ago, that Aug and Sept would bring dismal job numbers - WHY? The Fed provides itself cover to remain in the markets.
Geeez, they've been doing this for almost 6 years. The Jim Cramer's of the world have to put on their shocked face...But Zerohedge rebels not understanding?? You guys are proving to be just a bunch of average American sheep.
Lewshine, you are correct. Of course; the whole show is being orchestrated. The numbers are whatever they need them to be. A complete fraud. Someday the show will end and that's going to be a very bad day. I don't care whether anyone agrees with me or not, btw... I'm in no hurry to be proven right.
Zandi is a fucking administration mouthpiece tool.
And looking for a cute Gubmin position (Treasury?), via the revolving door, in the next Dem administration.. God forbid on all fronts..What a total fucking PTB ass-licker??
Zandi For The MF Win!
He's employed, so everyone else must be...right?
All kinds of tools for all kinds of fools.
Saw zandi speak earlier this year. His theory was the housing market was going to lead us out of the below average growth mode. A lot of pent up household demand and new households were going to be formed to lead to more houses being built more employment.
Noticeably absent from his speech..... Any mention of QE or budget deficit or social security or anything else that would rain on his parade.
He is a tool.
http://bedfordbypass.files.wordpress.com/2013/04/poster3789450.jpg
Sounds like that fokker wants to join us at ZH.
Mark Zandi can go fuck himself.
^^^^
Your comment merits a thousand up votes!
he's obviously on the Fed owners payroll, getting a trickle-down. Asshole.
I guess we are even then, because I've never believed one word that comes out of that schmuck's mouth, not to mention the rigged ADP report he fudges.
So ... about that 4% GDP growth in the later half of the year ... we'll get there, just gonna take a bit more fuzzy math. Maybe adding in the discounted future value of EBT payments ... if inflation is running negative then the discounted value is actually higher than the payments, right? Yeah!!!
Oh yeah, and on the radio just now the guy said the number can't be true because "you can just feel how vibrant the economy is." Yup, you can feel something, alright.
What about all the stock companies have bought back? When the insanity corrects companies are going to rue the days they bought this overpriced illusion.
Zandi attached the wrong version of the fudged data excel file to .gov. He meant to attach the one that had a 342K print.
The fucking media needs to stop talking about un-funny Joan Rivers.
She's our distraction dejour.
All the media cares about now is grade school playground gossip...I suppose we get the media and gubment we deserve.
"Markets"... Whatever
Fairy dust.... Bitchez
Get to work, Mr. Yellen!
Quite frankly, nobody believes it. Data on real markets is no longer being published.
Can't we just simply sell off for once on a shite figure?
The term "the new normal" has not been used much as of late, but going forward it may be about to return. Many investors and the public at large may be about to realize that central banks can only do so much through printing money and lowering interest rates. Both these actions carry with them some very strong and nasty side effects.
Markets have become very distorted as money has flowed into risky assets in search of higher yields. It could be we are about to see the markets morph into a "realizing market", one that grinds slowly downward. Another possibility is that at some point the wisdom of buying every pullback changes and the market simply drops like a stone. More on what the future might hold in the article below.
http://brucewilds.blogspot.com/2013/06/realistic-expectations-for-econom...
"wisdom of buying every pullback changes and the market simply drops like a stone." --- Bullshit. Especially if the ony players left in the "official" market are being forced to buy. How's that 401k looking?
It isn't the "NEW NORMAL"....it is the "NEW FUCKED UP". Where the corrupt bankers(and bought governments) who broke the system are rewarded repeatedly for continuing to the break financial sanity!
the fed can only do so much? they can buy untill the cows come home. sell the fake gold and silver paper and put it in the market is as easy as 123 that way us peeps that believe in safety get fucked and Wall Street is happy.
You can have zero employment as long as Goldman subsidiaries like the ECB & JCB & FED & BOE keep printing a $1 Trillion every couple of month. Heck Tesla has a sales decrease of 1% for the year and stock increase of 100%. Everything makes sense with a giant money printer...well until you are Venezuela or Zimbabwe! The revenge against bankers is going to be vicious....like you read about in the 30's!!!!
"The revenge against bankers is going to be vicious...."
Let us hope so.
If you like your unemployment, you can keep your unemployment...
actually you can keep your unemployment even if you don't like it.
Gotta love when an eco guru throws out negative prints because he doesn't believe the numbers but is so quick to chime in when they reflect his personal views.
Mark Zandi in Jan 2014: “It just doesn’t make any sense, so I’m just not paying any attention to it at all,”
http://www.mediaite.com/tv/moodys-economist-to-chuck-todd-i-just-dont-be...
this isn't your father's "growth" cycle
Meh. "Both markets are bidding up pay to play." At some point the scandals will blow wide open here...
Total labor force participation rate: 62.83%
A. # people added to working age population since a year ago (Aug. '13): 2.270 MM
B. # people added to labor force since a year ago (Aug. '13): 0.524 MM
Marginal labor force participation rate (B/A): 23.1% [the 2nd highest print in 2014]
We haven't seen a marginal LFPR print at or above the total LFPR since October 2008. In the same time frame, the Fed has quadrupled the monetary base, mostly through its cash-for-trash program.
And yet instead of using straightforward terms like "depression" and "biggest theft ever," the media speaks of "the recovery" and "quantitative easing." Orwell was a piker compared with the criminals running our system.
The hole is bigger than the pile of dirt to fill it...
Can't believe Moody's keeps Zandi, unless he's really funded by the obama admin. He's worse than Larry Summers.
I was long the s&p futures and already in the red before the release. Then I saw the release and though oh my fuck. I look back and my trade is in the green. Makes absolutely NO SENSE to me, but I'm glad it happened. Fortunately I closed the position in the green. I like to refer to the markets today as the inverted stock market. Everything is upside down.
I would get out while the getting is good. No POMO today. Ali Baba IPO next week for $20 billion. Lot's of supply.
Vote No on the election unless there is a referendum to put Yellen in cuffs.
What this means is that India has been sustaining the US economy not since just a few years asBrookings report showed but since even before the 90s. Same as India financed and created Modern Britain through the Industrial Revolution when the East India Company had gone bankrupt. Many of the great American and European fortunes were built on the Opium grown on Indian soil destroying agriculture and leading to 400 years of Indian Holocaust that was used to drug entire Chinese generations into subjugation. It were these Opium smuggler families that laid the foundations of Western Education System.
And now when the American Empire is waiting for it’s death nail, novel bollywood style concepts are introduced into India in the form of Skill India, Jan Dhan Yojna etc through Foreign Direct Investment in India.
What nobody seems to question is how when the West is resorting to colonial tactics invading Syria, Ukraine, Iraq to salvage what is left of it’s bankrupt economies, how on earth could the same bankrupt US EU countries would reform and Shine India through FDI ?
Excerpts from a GreatGameIndia report titled Indians Still Dreaming The American Dream ?
Indian Students Sustaining US Economy Since 90sHe's right... bad news cannot be good news in perpetuity
zandi is being eaten alive by IBD the guy looks like a chronic b12 def, diarrhea 12 times a day type. bet he wears depends..shit for brains is apt for this screwed up progressive skunk.
Overbloated pieces of crap like TSLA GPRO in this market and pumpers like Cramer. This will not look pretty when it all comes down.
If you like your jobs number, you can keep your jobs number.
those who think the US will re-QE on bad news are mistaken. a)the fed has to stop buying tsy and mbs b/c they own toomuch of the mkt--they are trying to make reverse repo be able to take its place but not enought banks can participate b/c of lack of tsy/mbs! b) its is ecb's turn at bat with draghi's talking. his speech had a 1 day half life...if he actually acted on what the front runners have bought into, sellers would sell and rate would CLIMB not too dissimalar to how mkts react to Fed QE--also note japan has been at bat for a while and has left--- yen/$ at 105 but spx not at 2500. c) its time to rinse and repeat, mainstreet has been trained to buy the dips--so they wont sell into the first 10% decline while others sell to them.
if euro rates are so low and a depreciating currency--one would think the capital would be pouring into US tsys, stronger dollar and getting 2x the yeild. steep decline might have been a 'clear the decks' so that euro banks could pick em up on a 3% discount before the 10yr goes to 1.5%
Oddly enough, Zandi had this to say about Moody's MBS ratings: "I believe it."
Zandi is an Obama cheerleader. Like most commentators on CNBC, he has a problem telling the truth.
Zandi COULD be correct if the Government wants to SHIFT 60,000 workers in to the employment report right before the elections JUST LIKE THE LAST TIME giving us a 260,000 print next month.
Zandi COULD be correct if the Government wants to SHIFT 60,000 workers in to the employment report right before the elections JUST LIKE THE LAST TIME giving us a 260,000 print next month.
And an accelerating recovery.
I love the smell of lining up Pledging Allegiance to the United States of Denial.