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Beige Book: "Economy Slowed Down In 8 Of 12 Regions", Droughts, Flooding, Japan Blamed

Tyler Durden's picture




 

The Fed's most irrelevant report, the Beige Book, is out. Here is the gist

  • Fed Beige Book Says U.S. Economy Slowed in Eight of 12 Regions
  • Droughts, flooding adversely affected seven regions
  • Wage pressures ‘subdued,’’ inflation pressures ‘‘weakened”
  • Spending in majority of regions saw modest growth of nonauto retail sales
  • Inventories still lean due to Japanese supply chain disruptions.
  • Manufacturing was steady or slowed in many regions
  • Most of residential real estate market still weak

We get it: it's all the weather and Japan's fault. Also, somehow Japan is to blame for "lean" inventories which somehow have increased for 2 years running.

Full paperweight can be found here.

 

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Wed, 07/27/2011 - 14:08 | 1498593 redpill
redpill's picture

Don't forget the private jet owners/passengers/mechanics/manufacturers.  It's gotta be at least partially their fault too.

Wed, 07/27/2011 - 14:09 | 1498600 Archimedes
Archimedes's picture

Wow! They must think Americans are really stooopid! Oh wait, they are!

Wed, 07/27/2011 - 14:09 | 1498602 alien-IQ
alien-IQ's picture

Blame the snow. Disregard the fact that it's summer.

Wed, 07/27/2011 - 14:28 | 1498691 YesWeKahn
YesWeKahn's picture

They are blaming the snow on the high mountains.

Wed, 07/27/2011 - 14:10 | 1498607 wombats
wombats's picture

Always easier to blame someone or something else.  It certainly cannot be due to any of our debts/deficits/bailouts/wars/politicians...

Wed, 07/27/2011 - 19:42 | 1499891 Kayman
Kayman's picture

I guess Mirrors are outlawed at the Fed.

Wed, 07/27/2011 - 14:11 | 1498614 Sudden Debt
Sudden Debt's picture

Next Q will be even worse!

It was hot! And nobody likes to work or spend when it's hot right?

 

Wed, 07/27/2011 - 14:13 | 1498626 redpill
redpill's picture

It's a small miracle we have an economy at all with all this damn WEATHER happening all the time!

Wed, 07/27/2011 - 14:27 | 1498686 Sudden Debt
Sudden Debt's picture

So true, I think everything would go way smoother if everybody was locked up in a dome where the government could controll everything.

 

Wed, 07/27/2011 - 16:03 | 1499063 hedgeless_horseman
hedgeless_horseman's picture

A tropical storm is forming in the GOM right now...

SATELLITE IMAGERY INDICATES A TROPICAL DEPRESSION OR TROPICAL STORM
COULD BE FORMING ABOUT 90 MILES NORTH OF CANCUN MEXICO.  AN AIR
FORCE RESERVE HURRICANE HUNTER AIRCRAFT IS CURRENTLY ENROUTE TO
INVESTIGATE THE AREA...AND IF IT CONFIRMS THE PRESENCE OF A
CIRCULATION...ADVISORIES WILL BE INITIATED THIS AFTERNOON.
INTERESTS IN THE CENTRAL AND WESTERN GULF OF MEXICO SHOULD MONITOR
THIS SYSTEM AS IT MOVES WEST-NORTHWESTWARD NEAR 15 MPH.  THIS
SYSTEM HAS A HIGH CHANCE...NEAR 100 PERCENT..OF BECOMING A TROPICAL
CYCLONE DURING THE NEXT 48 HOURS.

http://www.nhc.noaa.gov/gtwo_atl.shtml

Wed, 07/27/2011 - 14:15 | 1498638 djsmps
djsmps's picture

I blame it on the job creators.

Thu, 07/28/2011 - 07:16 | 1500561 Blakbeard
Blakbeard's picture

We have job creators??

Wed, 07/27/2011 - 14:16 | 1498643 gordengeko
Wed, 07/27/2011 - 14:24 | 1498659 Dr. Engali
Dr. Engali's picture

 I blame the smurfs. Little blue basturds with one little smurfette whore.

Wed, 07/27/2011 - 14:23 | 1498662 lolmao500
lolmao500's picture

I'm already hearing Krugman and his shills saying ``We need another big stimulus... and this time, it must be at least a trillion $``... hell a lot of Obamabots are actually calling for the arrest of republicans in congress for failling to lick Obama's boots on the debt ceiling.

 

A lot of them want this as a scenario :

US defaults because of those bad republicans.

Obama declares national emergency.

Obama arrest republicans in congress because they are ``terrorists who want to bring down America financially``.

 

Those Obamabots are insane.

Wed, 07/27/2011 - 14:25 | 1498678 wombats
wombats's picture

Source???  Those are some pretty wild assertions.

Wed, 07/27/2011 - 14:27 | 1498689 lolmao500
lolmao500's picture

Wild assertions? You obviously don't read ``liberal`` forums and newssites do you?

Wed, 07/27/2011 - 14:31 | 1498714 wombats
wombats's picture

Nope.  Can you post a link or 2?

Wed, 07/27/2011 - 14:43 | 1498762 lolmao500
lolmao500's picture

Well I don't have time to point out exact posts, but if you go look there :

http://www.fark.com/politics/

Just click on any debt ceiling thread and you'll see a lot of these kind of posts...

Wed, 07/27/2011 - 14:47 | 1498732 Dr. Engali
Dr. Engali's picture

1,2,3....trillion it doens't matter. When it fails Krugman will say that they didn't spend enough. Should have spent more. And they will say "can you imagine how bad it would have been if we hadn't spent that eleventy trillion dollars"?

Wed, 07/27/2011 - 14:28 | 1498697 DaveyJones
DaveyJones's picture

agree that "flooding" continues to be a major cause

Wed, 07/27/2011 - 14:33 | 1498722 slewie the pi-rat
slewie the pi-rat's picture

according to nukuler neo-classical post fuk_u radioactive BiChFlation data, japan may begin to return to normal in about 10 years

wake me up if it happens sooner. like in 2013

the conventional wisdom about this disaster is unicorns cavorting with dumbo's 

the good news is that the 8 downside regions were the totally unimportant ones...

Wed, 07/27/2011 - 14:37 | 1498737 mt paul
mt paul's picture

damn ungrateful  pesants 

are buying gold and silver...

instead of worthless 

plastic, fiat consumer bait...

Wed, 07/27/2011 - 14:47 | 1498776 lolmao500
lolmao500's picture

http://www.postchronicle.com/commentary/Obama_Very_tempting_To_Become_A_...

Obama: "Very tempting" To Become A Dictator (Video) Where Is The Media?!

Obama: But that's not how...that's not how our system works...

President Barack Obama: "Now I know some people want me to bypass congress and change the laws on my own..."

-Applause-

Obama: Believe me, and...(smile) and, and, and believe me right now dealing with congress...the idea...

Crowd erupts saying: "Yes You Can! Yes You Can!"

Obama laughs and smiles

Crowd gets even louder: "Yes You Can! Yes You Can!"

Obama: But, but, but believe me...uh...believe me the idea of doing things on my own are very tempting.

Crowd laughs

Obama: I promise you, not just on immigration reform...

Crowd laughs

Lady in the crowd: Change it!

Obama: ...that's now how our democracy functions.

Wed, 07/27/2011 - 15:31 | 1498922 Loose-Tools
Loose-Tools's picture

Aren't you just a teenie-weenie bit off topic, AGAIN. What's the "500" for, ... maybe how many miles you would walk to piss on Obama?

Wed, 07/27/2011 - 15:07 | 1498844 antidisestablis...
antidisestablishmentarianismishness's picture

I'm not worried, I'm buying stocks, the plague of locusts will be contained.

Wed, 07/27/2011 - 15:23 | 1498889 KeyserSoze
KeyserSoze's picture

If you think those excuses are bad, the BBC was stating that the very slow growth in the UK this past quarter (stated at 0.2% official numbers) was partly due because of ONE EXTRA BANK HOLIDAY.

Yes one extra day off impacted severely on the British economy.... yeah. Clutching at straws.

Wed, 07/27/2011 - 15:36 | 1498949 vocational tainee
vocational tainee's picture

OK ,guys we all in this country did such a good job during the last six month, so I decided  to get drunk tonight.It`s already a quarter to ten here in europe and in front of me are two temting old bottles of a rare bordeaux red wine ,so i`m taking that challenge may be the world will look different tomorrow...

Thu, 07/28/2011 - 00:49 | 1500350 StychoKiller
StychoKiller's picture

Winston Churchill was once at a soiree when a woman noticed that he was inebriated:

Woman:  "You're drunk!"

Churchill:  "And you're ugly!  In the morning I shall be sober, but you will still be ugly!"

 

Wed, 07/27/2011 - 16:00 | 1499059 Josephine29
Josephine29's picture

To UK readers blaming the weather for poor economic numbers seems rather familiar as pointed out by the quote below.

The danger of the ONS looking like Goldilocks

With its estimate of growth for the last quarter of 2010 the ONS told us this.

The change in GDP in Q4 was clearly affected by the extremely bad weather in December last year. The disruption caused by the bad weather in December is likely to have contributed to most of the 0.5 per cent decline.

Now with this report it tells us GDP was affected by.

Record warm weather in April

As the ONS does not seem to like cold weather but also does not seem to like warm weather either would it be kind enough to tell us as Goldilocks put it what weather would be “just right”?

http://t.co/oItDVw6

Wed, 07/27/2011 - 16:41 | 1499205 PulauHantu29
PulauHantu29's picture

Wall Street (and the Fed) may not want free Markets....but Free markets want Wall Street.

Tue, 08/23/2011 - 23:38 | 1593603 karmete
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