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Empire Fed Misses Again As New Orders Collapse To 5 Year Lows
After collapsing in August and unable to get up in September, October's Empire Fed bounced very modestly from -14.67 to -11.36 (but missed expectations for the 7th month of the last 8). This is the first time since 2009 that Empire Fed has printed below -10 3 months in a row putting The US firmly in recession territory, the underlying components were ugly with New orders crashing at the fastest pace since Nov 2010. Employees tumbled (as did inventories, although the plunge slowed) with prices received plumbing new cycle lows. In other words, total disaster... time to hike rates.
The headline print is firmly in recession territory...
As new orders collapse...
And employment crashed...
And prices received is the lowest since Dec 2009...
Charts: Bloomberg
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Oh fuck, is today bad news is good news or has Gartman opened his contrarian cake hole yet?
They'll just go and revise the numbers. Nothing to see here. Move along.
It comes down to No Job, No buy and has for 7 years.
EmpireFedFUBAR.
So that's good enough news to slam PMs? Of course it is. But silver says, "Oh no you di-int", and bounces right back. They are losing control, folks.
Now who's deluded???
All economic indicators are now pointing to a recession.
So, Markets are up. Why? All the HFT's switched from rising rates back to QEinfinity. MOAR free money for Wall St. Yeah!
Orders shmorders. All we need is free fed money. Whee!
+1 moar can fix this
I see lots of "blue light specials" coming...all bullish for the economy, just like falling oil prices.
Does anyone think a starving tribe of cannibals sees one of their tribe falling ill as an economic stimulant? Things are looking up for dinner?
And that fat fucker over there, what's that about? Is social justice on the menu? YUM?
And start the PM smash on these great number....
The good news hit parade keeps marching right along!
MOAR,MOAR,MOAR, all we need is MOAR!
Well if the market soars with recession news, does it double when we start getting depression news?
BULLISH
No spoon motherfuckers. The oligarchs are going to keep fucking with you as long as you are willing to exchange the fruits of your labor for their paper/digits!!!
same as it ever was...
Everything is ultimately fiat unless you can eat it. Currency is variable in value and medium. Today paper, tomorrow gold, the day after may be toilet paper or antibiotic. It is ultimately up to us to decide what OUR currency is, even though we are trapped inside an artificial economy based on paper dollars and artificial demand. We are buying crap we do not need (but have been successfully manipulated, indoctrinated and marketed to desire) with currency made of paper backed by promises of politicians.
Where do you draw a line in that pile of crap?
It is as if we have been inserted into a Twilight Zone episode and left to figure out the plot.
"Everything is ultimately fiat unless you can eat it." +1000
Careful though Oldwood, if the gold-bugs sniff out that comment they'll "pile on" you. :-) I agree 1000%, in a barter environment, which is what we'll end up with if Fiat trully fails, money is whatever is needed/wanted at the time. Food/water/shelter/ammo/coffee/chocolate....you name it, it can be "money" if it's needed/wanted.
The harsh winter of 2015-16 started in the summer of 2015 this time around.
One year from now we will be playing #nailthenumber and the guesses will be -220k
Obama is right! Climate change IS our greatest threat. Fucking weather.
It's got to drive progressives absolutely nuts that they can't control it....I mean that is their deal right...control of people and their environment to make us into the image of their dreams, an image that even they can't define as to do so would imply an actual conclusion that would eventually end their need for control. Its like pornography...they can't define it, they simply will know it when they see it.
“To be sure of hitting the target, shoot first, and call whatever you hit the target”
Ashleigh Brilliant
Bigger the recession, lower the earnings, greater the bankruptcies, the more QE we get!!!!
This is so exciting. As a bull I actually want my companies to plummet towards insolvency and lose all their customers. We can always just buyback our entire float with free fed money and never have to pay it back!!
No wonder all the futures are green. People like me are snapping up these bargains before things get REALLY bad and the market soars 4000%!!
HARPEX dives below all averages... Recession territory ....not that it ever got out in the first place...
http://www.harperpetersen.com/harpex/harpexRH.do?timePeriod=Years2&&data...
Reason to think that oil might recover from the lower levels of the last couple of days?
http://tripstrading.com/2015/10/15/oil-1-hour-chart-falling-wedge/
Don't fight the tape; don't fight the Fed.
Exactly. Be a sheep being herded to slaughter. Great advice.
one more economic indicator to add to my growing list. In a sadistic way, I find it amusing that MSM/CP is doing such a nice job of brushing this under the carpet. The shock factor will be very high.
I'm reading "Day of Wrath" and see all the "dancing with the stars" sheeple getting slaughtered. Slaughtered by the banks and unfortunately, one day maybe slaughtered by this fiction that could easily become real thanks to our pourous southern border.
This is a must read. Gotta buy more PM and lead.