And Scene: Q2 GDP 1.3%, Gold Surging On Imminent QE3 Resumption

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Fri, 07/29/2011 - 08:32 | 1503894 chump666
chump666's picture

ftse just smashd supports...man, what a mess.  

Fri, 07/29/2011 - 08:32 | 1503895 tniutnia
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ouch

Fri, 07/29/2011 - 09:01 | 1504020 Cash_is_Trash
Cash_is_Trash's picture

Swing and a miss!

Fri, 07/29/2011 - 09:28 | 1504125 Cash_is_Trash
Cash_is_Trash's picture

'TIS BUT A SCRATCH

We keep hearing that quite often now.

The Recoveryless Recovery

Fri, 07/29/2011 - 10:46 | 1504725 tekhneek
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Who was it that said "We're in a depression, damn it!" on live television? He was like a huge name apparently.

That shit was awesome.

Fri, 07/29/2011 - 08:32 | 1503897 Cassandra Syndrome
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The idiots behind Rick Santelli pre cheering the number was delightful viewing.

Fri, 07/29/2011 - 08:35 | 1503910 BCTwelve
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He/They  is/are the only reason to watch cnbc...I was also pre cheering, that big red bar was delightful

Fri, 07/29/2011 - 08:35 | 1503914 High Plains Drifter
High Plains Drifter's picture

i couldn't figure out what that was about. i heard chearing or whatever, then santelli started talking about how bad things were.........oh well...........

Fri, 07/29/2011 - 08:48 | 1503937 EscapeKey
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Well, someone will tout this as great news, as QE3 is now much more likely.

USD/JPY is an absolute rollercoaster atm. 77.36.

77.18!!!

Fri, 07/29/2011 - 09:04 | 1504025 DeadFred
DeadFred's picture

Is this this going to be one of those low volume algo pumped days??? Just wondering.

Fri, 07/29/2011 - 09:22 | 1504098 Boston
Boston's picture

No QE3 until the SPX dips another 20%......today could be a 2% headstart.

Fri, 07/29/2011 - 08:43 | 1503956 Cassandra Syndrome
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Jim Cramer on now

Fri, 07/29/2011 - 08:48 | 1503977 lead salad
lead salad's picture

Boo...yow......Bitchez.

Fri, 07/29/2011 - 08:53 | 1503994 caerus
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buy! buy! buy!

Fri, 07/29/2011 - 08:33 | 1503899 No Bid
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But Chevron beat by 9%!  That's good right?

 

Oh....

Fri, 07/29/2011 - 08:33 | 1503900 rdenner
rdenner's picture

Cue the Price is Right "YOU LOOSE" song.

 

Bum bump ba baaaah.. Waaaaaaaaah!

 

NOT GOOD!!

Fri, 07/29/2011 - 08:36 | 1503920 caerus
caerus's picture

please...have your pets spayed or neutered...

Fri, 07/29/2011 - 08:53 | 1503990 youngman
youngman's picture

Why...they will become a good food source..ask the Asians...

Fri, 07/29/2011 - 09:15 | 1504078 rdenner
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Was wondering why i was getting junked...

 

But it works either way..... I planned it... :)

Fri, 07/29/2011 - 08:56 | 1504002 Esso
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"Cue the Price is Right "YOU LOOSE" song."

Funny, but it's lose, not loose. Loose means coming apart.

Oooooops! Nevermind.

Fri, 07/29/2011 - 08:33 | 1503901 John Law Lives
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Ouch!!!

Time for a spin job.  Transitory...  QE3 to save the day!

Fri, 07/29/2011 - 08:42 | 1503948 magpie
magpie's picture

And watch the deficit / debt target discussion turn into the bipartisan stimulus bill.

Fri, 07/29/2011 - 09:05 | 1504040 WonderDawg
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CNN trying to spin it with this as the Breaking News headline on CNN.com:

U.S. economy grew at 1.3% annual rate in second quarter, up from a revised 0.4% rate in previous quarter.

What a fucking joke.

Fri, 07/29/2011 - 09:48 | 1504235 Thorlyx
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Still, you must admit, it sounds much better this way.

Fri, 07/29/2011 - 11:11 | 1504875 ElvisDog
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Except QE3 will do nothing to help GDP, unemployment, or consumer spending. Those horrible numbers were created right in the middle of QE2.

Fri, 07/29/2011 - 08:33 | 1503902 mayhem_korner
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Casey has struck out.

Fri, 07/29/2011 - 09:15 | 1504077 Esso
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Egads! There's a serial junker amongst us that hates us for our reality!

Fri, 07/29/2011 - 09:28 | 1504124 caerus
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its the bernank

Fri, 07/29/2011 - 08:33 | 1503903 chump666
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flash crash on the ftse...tight, dow i aint missing this.  puts on

Fri, 07/29/2011 - 08:38 | 1503932 Bob
Bob's picture

It's 8:39 AM: Do you know where your PPT is?

Fri, 07/29/2011 - 08:41 | 1503940 Raynja
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I locked them in a closet til we go limit down

Fri, 07/29/2011 - 10:07 | 1504401 Raynja
Raynja's picture

Oh shit they escaped

Fri, 07/29/2011 - 08:49 | 1503978 smlbizman
smlbizman's picture

the libor 1 and 3 mos. are creeping higher....

Fri, 07/29/2011 - 08:33 | 1503904 oogs66
oogs66's picture

but, but, but doesn't that mean the Q3 rebound will be even that much stronger? :D

Fri, 07/29/2011 - 08:39 | 1503936 Bob
Bob's picture

Gotta. BTFD. 

Fri, 07/29/2011 - 08:54 | 1503996 Hansel
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Can we all agree that the Fed is full of shit when they say "the economy continued to expand at a moderate pace"?  Also, why does the Fed need to do more "easing" to inflate prices if the consumer can't afford these prices?

Fri, 07/29/2011 - 09:49 | 1504250 Thorlyx
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next will be: "the economy continued to expand at a negative pace"

Fri, 07/29/2011 - 08:33 | 1503905 bob_dabolina
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U.G.L.Y

Fri, 07/29/2011 - 08:44 | 1503958 DavidJ
DavidJ's picture

Recession dead ahead (assuming we left the previous recession)!

Fri, 07/29/2011 - 08:52 | 1503987 nodhannum
nodhannum's picture

Not to worry mein herr..It's the summer of recovery or is that Summers(s) of recovery, I forgot. 

Fri, 07/29/2011 - 09:02 | 1504023 mailll
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We are already in the first stages of a recession.  They just didn't revise these numbers yet to show this. 1st quarter GDP revised down form 1.9 to 0.4? Am I interpreting this correctly? What happened to the 1.8, 1.8, 1.9 revisions? Correct me if I am not reading this right.

Fri, 07/29/2011 - 08:33 | 1503906 ZeroPower
ZeroPower's picture

This is epic

Fri, 07/29/2011 - 08:34 | 1503908 Quintus
Quintus's picture

Ben!  Get to da Choppa!

Fri, 07/29/2011 - 08:39 | 1503934 nantucket
nantucket's picture

that's just funny, i don't care who you are.  Arnie would approve.

Fri, 07/29/2011 - 08:34 | 1503909 caerus
caerus's picture

nice Au pop

Fri, 07/29/2011 - 08:35 | 1503911 spydell-lj
spydell-lj's picture

green fucking shoots, Thank you FED

Fri, 07/29/2011 - 08:35 | 1503912 Squid-puppets a...
Squid-puppets a-go-go's picture

...and how much of that is to be 'revised lower' in subsequent months... as if they dont already know the real number

Fri, 07/29/2011 - 09:02 | 1504022 r101958
r101958's picture

My guess is that Q1 and Q2 are actually reversed (fudged, manipulated...whatever) or that more was taken from Q1 instead of Q2 so they could say 'hey, this means things are actually improving from Q1 to Q2'. If you take most of the reduction in the Q1 number and subtract it from the Q2 number you will be fairly close to reality. So, yes, that means Q2 was actually a contraction.......oooops, sorry, I meant 'negative growth'.

Fri, 07/29/2011 - 09:10 | 1504061 mailll
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This reminds me of when they revised the unemployment numbers from 9.8% to 8.8% in just 3 months.  It's all Bull.

Fri, 07/29/2011 - 09:14 | 1504076 r101958
r101958's picture

Exactly!

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