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Philly Fed Crashes From 21 Year Highs To 12 Month Lows, Employment Tumbles

Tyler Durden's picture




 

With the biggest miss since August 2011, The Philly Fed Factory Index crashed from 21 year highs in November to the lowest since Feb 2014. The headline 6.3 print, missing expectations of 18.7, follows last month's drop for the biggest 2-month drop since Lehman. Under the surface things are even worse with the employment sub-index plunging to its worsdt since June 2013 and the outlook for CapEx slashed in half from 24.8 to 13.2. But but but fundamentals...

 

From best in 21 years to total carnage and biggest 2-month slump since Lehman...

 

And under the covers its ugly...

 

 

Charts: Bloomberg

 

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Thu, 01/15/2015 - 11:11 | 5664853 PrayingMantis
PrayingMantis's picture

 

 

... say cheese ...

Thu, 01/15/2015 - 11:12 | 5664862 thatthingcanfly
thatthingcanfly's picture

cheese

Thu, 01/15/2015 - 11:19 | 5664908 kliguy38
kliguy38's picture

It smells like comeone cut the cheese out there today.......specially on the NYSE floor

Thu, 01/15/2015 - 11:25 | 5664938 actionjacksonbrownie
actionjacksonbrownie's picture

Literally, "Green shoots baby... green shoots!"

Thu, 01/15/2015 - 11:48 | 5665034 Headbanger
Headbanger's picture

Yo!  WTF!?

Thu, 01/15/2015 - 11:52 | 5665039 nuclearsquid
nuclearsquid's picture

what a noisy data series.  Who uses this bullshit?  They would probably have better correlations with small animal entrails.

 

Thu, 01/15/2015 - 11:25 | 5664942 NotApplicable
NotApplicable's picture

"It was the best of times. It was the worst of times."

Thu, 01/15/2015 - 11:14 | 5664879 NoVa
NoVa's picture

it's Philly  -  cheese steak

Thu, 01/15/2015 - 11:23 | 5664935 ShorTed
ShorTed's picture

Doing my best to keep the Cheese Steak index up.

Thu, 01/15/2015 - 11:11 | 5664861 Boondocker
Boondocker's picture

That ought to be good for at least 100 points in the market to the upside.

 

Thu, 01/15/2015 - 11:14 | 5664875 Kaiser Sousa
Kaiser Sousa's picture

Dow 20,000...

Gold $450...

Silver free....

 

 

S          A         R       C

Thu, 01/15/2015 - 11:19 | 5664900 readyforit
readyforit's picture

Bitcoin infinite?

Thu, 01/15/2015 - 12:23 | 5665162 MEFOBILLS
MEFOBILLS's picture

Bitcoin infinite?

 

Bitcoin fails the test of what money is used for.  It confuses storage of wealth with transaction medium. 

Consumating transactions is the main function for money.  Storage of wealth can be done through holding real assets, such as land, housing, education, health, clean air, clean water, stock ownership, art, etc.

Bitcoin is made rare because it is mined into existence using computer cycles.  This keeps the volume of bit coin low so that it is not available in relation to its market need.  It behaves similar to Gold as money, where it will go off and hide, and then not be available for labor to price their output.

When money is not transacting it is stored as latent demand.  It is not wealth.  Latent demand can purchase goods with a time delay, but that does not mean it is permanent wealth.

  Money powers allow this confusion in the mind of man because it serves their needs.  It is not taught in schools on purpose, because these rent takers want the sheeple hypnotized and confused.  To them, Goyim are stupid animals.  Don't be a sheeple.

MEFOBILLS

Thu, 01/15/2015 - 11:18 | 5664907 Kaiser Sousa
Kaiser Sousa's picture

London stick save of the Fraud Markets now in full effect...

http://www.marketwatch.com/investing/index/DJIA

Thu, 01/15/2015 - 11:19 | 5664910 NoDebt
NoDebt's picture

How do you feel today?  Fine.

How will you feel in 6 months?  Um....

When did you stop beating your wife?  I, uh....

Fucking surveys.

Thu, 01/15/2015 - 11:39 | 5665002 Pareto
Pareto's picture

+100

Thu, 01/15/2015 - 11:22 | 5664931 SpanishGoop
SpanishGoop's picture

"..from 21 year highs in November.."

As if anybody believed that.

 

Thu, 01/15/2015 - 11:23 | 5664936 youngman
youngman's picture

This is the year of volitility....in everything..surveys..the markets...interest rates or lack their of...400 point swings in the market daily are going to become the norm...

Thu, 01/15/2015 - 11:31 | 5664966 wmbz
wmbz's picture

Seems to me the thing to do now is wait until Maria Barcelona interveiws some investment guru, titain, icon, swami, soothsayer and gets the behind the curtain eyeball veiw of what is really going on. You know, the low down the skiny the bottom line. Then we can start to understand, because that's what she does!

FUBARF!

Thu, 01/15/2015 - 11:38 | 5664995 Tsar Pointless
Tsar Pointless's picture

And the Dow rocket up about 125 points on the back of this report.

Bullish, bitchez.

Thu, 01/15/2015 - 11:59 | 5665064 Youri Carma
Youri Carma's picture

Let's get those rates up! Things realy look swell bullish bitchez.

Thu, 01/15/2015 - 12:38 | 5665280 Handful of Dust
Handful of Dust's picture
Falling oil prices to spur business bankruptcy storm in Houston

Lydia Protopapas, partner at the Houston office of Winston & Strawn LLP, also a bankruptcy lawyer, said the signs of an increase in bankruptcy filings are in place thanks to the fall in oil prices.

 

 

http://www.bizjournals.com/houston/blog/money-makers/2015/01/falling-oil...

 

Forward !

 

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