And Wall Street Does Its Traditional "Nobody-Could-Have-Foreseen-This....Nobody" Dance

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Fri, 07/29/2011 - 09:35 | 1504162 caerus
caerus's picture

chicago pmi...wait for it...

Fri, 07/29/2011 - 09:47 | 1504229 EscapeKey
EscapeKey's picture

58.8

Fri, 07/29/2011 - 09:51 | 1504278 slaughterer
slaughterer's picture

Hatzius now capitulates from his "recovery" call.  He just needs to fight back his tears in the GS men's room before he issues his response. 

Fri, 07/29/2011 - 09:37 | 1504171 digitlman
digitlman's picture

People pay those idiots for their "forcasting"?

 

Wow.

 

Fri, 07/29/2011 - 09:40 | 1504178 kito
kito's picture

economists and weathermen...cant see the storm coming and yet people still cling to their forecasts

Fri, 07/29/2011 - 09:58 | 1504329 A Lunatic
A Lunatic's picture

I just love the smell of hopeless change in the morning.

Fri, 07/29/2011 - 09:58 | 1504331 Spirit Of Truth
Spirit Of Truth's picture

"economists and weathermen..."

Let's not insult weathermen!


Fri, 07/29/2011 - 10:47 | 1504736 Sabibaby
Sabibaby's picture

Can you get a degree in Astrology from an ivy league college too?

 

Fri, 07/29/2011 - 10:00 | 1504346 EscapeKey
EscapeKey's picture

Of course they do.

"Could you produce an estimate of GDP growth, which shows a 2.0%+ rate is entirely realistic, so we can sell more fixed income assets into the market"?

Fri, 07/29/2011 - 09:40 | 1504177 mcguire
Fri, 07/29/2011 - 09:43 | 1504196 snowball777
snowball777's picture

A youtube video of a youtube video of Fox News.

Grow a BRAIN.

Fri, 07/29/2011 - 10:16 | 1504444 flacon
flacon's picture

Here's how it works: Create an "emergency", then pass laws to deal with that created emergency. The laws are never redacted and so when the shit hits the fan they will have all the laws that they ever wanted right at their fingertips. Why else are they waiting for the last minute to decide the debt ceiling raise?

 


House Rules Committee votes to give Boehner "maximum flexibility" to alter debt limit bill By: Philip Klein | Senior Editorial Writer Follow Him @Philipaklein | 07/28/11 9:07 PM

Short of votes to past the current version of House Speaker John Boehner's bill to raise the debt limit, Republicans on the Rules Committee voted to give their leader "maximum flexibility" to bring any negotiated changes to the House floor immediately.
"We were expecting a vote this evening, but obviously the votes weren't there," Rules Committee Chairman David Dreier, R-Calif., said as midnight approched. In order to make sure Congress is able to meet the Aug. 2 deadline to raise the debt ceiling, Dreier said the committee needed to give Boehner so-called "same day authority" that allows him to alter the bill as needed to win over the remaining votes, without having to go through the Rules Committee process each time.
Democrats on the committee seized on reports that the reason Republican leadership didn't have enough votes was that conservative members were opposed to the new money for Pell grants. They accused Republicans of blaming students for the nation's debt woes.
"As of right now, it's apparent we don't have the votes for a number of reasons," Dreier said, declining to address the Pell grants issue. He said there were "different issues for different members."
Rep. Jim McGovern blasted the Republicans' procedural move, calling it a "martial law rule." He said Dreier himself used to refer to it that way.
"That's when I was in the minority," Dreier responded candidly, to laughter.
The rule was agreed to 8 to 4.
The House is scheduled to open at 9 a.m. tomorrow, with no votes expected earlier than 11 a.m.

Read more at the San Francisco Examiner: http://www.sfexaminer.com/blogs/beltway-confidential/2011/07/house-rules-committee-votes-give-boehner-maximum-flexibility-alte#ixzz1TVHSDm3M

 

Fri, 07/29/2011 - 10:51 | 1504498 Gohn Galt
Gohn Galt's picture

Some high grade fear mongering with a touch of subliminal suggestion.

Wow, officers will now have full authority to issue warrants and or act without one.  Paperwork is such a burden and we all know how much this inconveniences our Judges.

And there's more, now Yogi will have all of those rights too. 

http://www.opencongress.org/bill/112-h324/text

Fri, 07/29/2011 - 09:41 | 1504180 Thorlyx
Thorlyx's picture

hoocoodanode ??????????

Fri, 07/29/2011 - 09:40 | 1504181 Bob
Bob's picture

BWAHHAHAHAH!

Fri, 07/29/2011 - 09:40 | 1504182 Esso
Esso's picture

Criminy. I saw it, and I'm just a mechanic, more or less.

Fri, 07/29/2011 - 09:42 | 1504194 SheepDog-One
SheepDog-One's picture

Yea I saw it coming too ever since the first panicked cries of 'Hand over the blank checks or else!' screams from Paulson, and I along with anyone else who could plainly see it coming was called insane, racist, terrorist, know-nothing, etc.

Fri, 07/29/2011 - 10:00 | 1504343 Fish Gone Bad
Fish Gone Bad's picture

SAW IT???  Everybody saw it.  That is what makes this low flying mess all the more special.  Everybody saw it coming a long way off. 

Fri, 07/29/2011 - 10:31 | 1504580 Bwahaha WAGFDSMB
Bwahaha WAGFDSMB's picture

What are you saying? This was already priced in? BTFD?

Fri, 07/29/2011 - 10:01 | 1504351 A Lunatic
A Lunatic's picture

Time to shut up and eat your fucking peas!

>sarc<

Fri, 07/29/2011 - 09:40 | 1504184 Peter K
Peter K's picture

OBAMANOMICS has it's good side. We are all getting poorer together. And in absolute terms, the rich are getting poorer faster.

 

Fri, 07/29/2011 - 09:42 | 1504193 Caviar Emptor
Caviar Emptor's picture

Not my fat frineds, bro. They never had it so good. 

Fri, 07/29/2011 - 10:16 | 1504456 Dr. Engali
Dr. Engali's picture

I've got news for you. The rich never had it better.

Fri, 07/29/2011 - 09:40 | 1504185 SheepDog-One
SheepDog-One's picture

So everyone says 'This shows we're collapsed, although no one could have seen it coming, NO ONE....so now get busy DC and print some more trillions out of thin air'.

Fri, 07/29/2011 - 09:41 | 1504187 ArkansasAngie
ArkansasAngie's picture

Now is the time to break the bank(s) ... literally.  The charade of we're doing this for your benefit is horse manure.

The reset button won't do the trick.  We need to wipe the harddrive and reinstall the operating system.  Sorry you are going to loose your pictures if you didn't back'em up.

Fri, 07/29/2011 - 09:44 | 1504207 SheepDog-One
SheepDog-One's picture

Screw a re-boot, we need to smash the control machine completely, and rebuild from scratch.

Fri, 07/29/2011 - 09:48 | 1504238 Cash_is_Trash
Cash_is_Trash's picture

Well I happen to be a gallows-maker.

I also charge half a gold ounce to execute each Wall St. banker.

I knew my talent would be needed someday.

Fri, 07/29/2011 - 09:58 | 1504330 Crisismode
Crisismode's picture

.

 

I'll do it for one-tenth a gold ounce for each Wall St. banker.

And I offer quantity discounts.

Fri, 07/29/2011 - 10:03 | 1504368 Midwest Prepper
Midwest Prepper's picture

I'll do it for a cold coke.  Heck, the coke doesn't even have to be cold and if you don't have one to give me, no problem...

Fri, 07/29/2011 - 09:41 | 1504188 eurusdog
eurusdog's picture

I don't know jack shit about how GDP is calculated, but even I can tell you that the mess the last two administrations created were leading up to this. Next quarter we go Negative growth.

I went shopping this mornign for milk and it was down 16 cents a gallon.

Fri, 07/29/2011 - 09:46 | 1504224 SheepDog-One
SheepDog-One's picture

Im sorry to see people still believing administrations do this. It was started at the turn of the last century, anyone with basic history grasp knows that.

Fri, 07/29/2011 - 11:02 | 1504814 jerry_theking_lawler
jerry_theking_lawler's picture

Yeah! Deflation.....time for some more bennie bucks into the system. Up $1/gallon...then down $0.16/gallon. we are in a deflationary period, must....print......more!!!

secure your physical gold/silver bitchez!!!

Fri, 07/29/2011 - 09:41 | 1504189 drivenZ
drivenZ's picture

the trend is your friend...haha. 

 

seems like these guys just look at a chart and follow the line out. why go out on a limb and do some real thinking when it's much easier to plot a few points on a graph with a steady growth rate.  

 

Fri, 07/29/2011 - 09:41 | 1504191 Caviar Emptor
Caviar Emptor's picture

Picture this: A government shutdown when GDP is already near zero and each month in Q2 was worse than the previous month. 

Help!

Fri, 07/29/2011 - 09:45 | 1504210 snowball777
snowball777's picture

TeaPotDomeExpress III: "Mission Accomplished". Heckuva job, Armey.

Fri, 07/29/2011 - 09:42 | 1504192 rsnoble
rsnoble's picture

So in other words you can get better economic views on ZH than all the highly paid economists?  Unbelievable. 

Being someone that used to do a lot of the ebay/auction/craigslist thing I already knew consumer spending is non-existent.  Shit is just not selling like it was.  As I have over 1000 eGay transactions and countless CL dealings I always have a hand on what's going on in the real world: Nothing.

Fri, 07/29/2011 - 09:42 | 1504195 LawsofPhysics
LawsofPhysics's picture

Yes, none of them saw this coming, that is why they are all positioned so well.  Crash the system already, the sooner we do, the sooner compensation will return to folks that are actually worth a shit.  You know, those people that actually provide goods and services of REAL VALUE.  In case you don't understand, I am not talking about paper-pushing financial fucknuts.  Divest of all paper ASAP!

Fri, 07/29/2011 - 09:43 | 1504200 Iriestx
Iriestx's picture

I still say we melt-up green by EoD.

Fri, 07/29/2011 - 09:55 | 1504309 slaughterer
slaughterer's picture

Yup, melt up from 200 DMA today.  Got my SPY weekly calls on the dip below 1284 just now.   Robot-trader eat your heart out. 

Fri, 07/29/2011 - 09:43 | 1504204 Caviar Emptor
Caviar Emptor's picture

Mystery? Hardly....As we've been telling you here in ZH for over 2 years: we're in a DEpression. Never left it. Only thing growing is monetary policy and that's enough to fudge the data with. In real terms nada

Fri, 07/29/2011 - 09:44 | 1504208 rsnoble
rsnoble's picture

IMO looks like the mainstreet and wallstreets orbit trajectory are on a collision course once again.  We'll have to send nukes at the big stinky rock and avert it once again and figure out a solution before it comes right back around.

Fri, 07/29/2011 - 10:11 | 1504431 ljag
ljag's picture

Simple. Quit paying TAXES! If you don't have the balls to do this, how are you gonna be one of those 'when they pry my dead-cold fingers off the trigger types that we rant about? Re-boot? Crash the hard drive/OS? Just quit paying them taxes. Fed time in a camp is about as soft a life as you can imagine. So, what's the problem? Starve the beast and problem solved. EOS

Fri, 07/29/2011 - 10:45 | 1504720 johnnynaps
johnnynaps's picture

Yeah, but why do i get called a POS for taking it one step further via unenjoyment? I mean, you can starve the beast while i give it gut shots!

Fri, 07/29/2011 - 09:45 | 1504212 Josh Randall
Josh Randall's picture

Time for the Bernank to do the NO PANTS DANCE

Fri, 07/29/2011 - 09:45 | 1504213 partimer1
partimer1's picture

http://www.forcastglobaleconomy.com/Comment081/Comment081.htm

 

I posted this one a few days ago, and this guy is the best forecaster out there.  He was invited to CNBC once before 2007 peak, and I guess he never got invited back. 

Fri, 07/29/2011 - 09:45 | 1504215 r101958
r101958's picture

Watch, Chic PMI and UMich Cons Conf will beat 'expectations'.

Fri, 07/29/2011 - 09:48 | 1504240 SheepDog-One
SheepDog-One's picture

Good well then no QE, as long as broke people are being shown to pay more, and some colleges phone poll found confidence among the unemployed broke people is a tick higher.

Fri, 07/29/2011 - 09:50 | 1504266 Iriestx
Iriestx's picture

Exactly.  They'll fudge some numbers, algo-bots will buy the dip because the newswire is peppered with the word 'comprimise' and we'll melt up green on no volume.

Fri, 07/29/2011 - 09:52 | 1504290 SheepDog-One
SheepDog-One's picture

Good, again no call for QE if we can have a 1% GDP and markets go up. Obviously all is well and they dont need any more money paid from my great great great grandchildren!

Fri, 07/29/2011 - 10:00 | 1504216 PaperBear
PaperBear's picture

Of course all ZH readers know that a lot of people saw this coming.

A few people have gone so far as to have written books about this toxic debt-based monetary system and these unsustainable booms leading to busts.

Do NOT follow this link or you will be banned from the site!