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Big GDP Miss: 2.2% Vs Expectations Of 2.5%, Composition Even Uglier

Tyler Durden's picture




 

So much for the +3.0% GDP whisper number. Instead of printing at the expected number of +2.5%, the first preliminary GDP data point (two more revisions pending) came out at 2.2%, a big disappointment for a quarter which had a substantial boost from the weather. And while of the 2.2%, Personal Consumption came in strong - as expected, as it was precisely the factor most impacted by pulling in demand forward courtesy of "April in February", 0.59% of the 2.2% was an increase in inventories, something which was not supposed to happen as it means that the quality of the economic growth in Q1 was far worse than expected. Cementing the ugly composition of Q1 GDP was fixed investment which added just a paltry 0.18% - this is the number which is critical for ongoing cashflow generation and unfortunately, the very low print means that growth outlook for Q2 is now even worse than before and we expect economists will promptly trim their already bearish predictions for Q2 GDP. Finally, government "consumption" subtracted just 0.6% from the total number, a decrease from the 0.84% in Q4, which means that once again the government is starting to become less of a detractor to growth - a dagger in the heart to anyone who claims there is "quality" in GDP growth. And the number you have all been waiting for: At March 31, US Debt/GDP was 100.8%.

Full breakdown by category:

 

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Fri, 04/27/2012 - 08:42 | 2379694 icanhasbailout
icanhasbailout's picture

quick, someone upshift the fraud machine!

Fri, 04/27/2012 - 08:46 | 2379708 GetZeeGold
GetZeeGold's picture

 

 

Missed it by jiiiiiiiiiiiist that much.

 

Fri, 04/27/2012 - 08:54 | 2379754 SilverTree
SilverTree's picture

fukushima reactor 4

Fri, 04/27/2012 - 09:09 | 2379813 Oh regional Indian
Oh regional Indian's picture

Apples to apples...

ori

Fri, 04/27/2012 - 09:18 | 2379833 King_of_simpletons
King_of_simpletons's picture

Great news for another 300 point upswing in the stock market. Boy, the economy has been getting better over the last decade will probably overheat before the elections. FED Reserve, DC and the Media deserve congratulations on this marvellous feat !!

Fri, 04/27/2012 - 09:41 | 2379940 JPM Hater001
JPM Hater001's picture

Yes, this is quite bullish.

Fri, 04/27/2012 - 09:57 | 2380017 Whoa Dammit
Whoa Dammit's picture

Outsource the GDP calcs to China, then they will always be 9%. :-).

Fri, 04/27/2012 - 09:33 | 2379911 jus_lite_reading
jus_lite_reading's picture

I hope you are not being facetious.... one M7+ earthquake near reactor 4 could topple the whole unit and that would indeed be an ELE...

The world is one hair away from global collapse on so many levels... if you don't have guns gold and green beans then you have only yourself to blame...

Fri, 04/27/2012 - 09:44 | 2379953 JPM Hater001
JPM Hater001's picture

Oh I've got green beans and led all right.

Do you have trader Joe's rack Of NZ lamb chops?

Don't go into the collapse without lamb.

Fri, 04/27/2012 - 09:51 | 2379992 Silver Bully
Silver Bully's picture

Does this mean yer on the lamb?

Fri, 04/27/2012 - 10:13 | 2380070 jus_lite_reading
jus_lite_reading's picture

Funny^

Fri, 04/27/2012 - 10:07 | 2380054 urbanelf
urbanelf's picture

No, but I have an awful lot of Trader Joe's canned beans.  I really hope the collapse doesn't happen because I will be farting until civilization gets rebuilt.

Fri, 04/27/2012 - 09:02 | 2379789 JustObserving
JustObserving's picture

The US official inflation number is massaged to be a few points lower than the actual number.  So if we correct the GDP growth for actual inflation, we probably had a negative number for growth.  So much for the great growth in the US economy - unless you want to include fraudulent economic data.

This is bullish for QE and real money, i.e, precious metals. Let's see how long it takes gold to get to $1700

Fri, 04/27/2012 - 09:09 | 2379812 azzhatter
azzhatter's picture

it's all inflation

Fri, 04/27/2012 - 09:30 | 2379895 Comay Mierda
Fri, 04/27/2012 - 09:48 | 2379975 thecoloredsky
thecoloredsky's picture

This means the government isn't spending enough.

/sarc

Fri, 04/27/2012 - 09:07 | 2379800 bernorange
bernorange's picture

Sounds bullish. /deadpan

Fri, 04/27/2012 - 09:18 | 2379829 Sudden Debt
Sudden Debt's picture

IT'S BULLISH BECAUSE AMERICA ISN'T SPAIN!!

True fact actually! Don't let the Spanish speaking majority fool ya!

 

Fri, 04/27/2012 - 09:24 | 2379880 DOT
DOT's picture

No hay problema.

Fri, 04/27/2012 - 08:55 | 2379758 Born Patriot
Born Patriot's picture

This is the sad reality of multicultural America. The economy simply cannot function with such a multitude of competing cultures. But for some reason, most of the idiots on this board are incapable of seeing this.

Fri, 04/27/2012 - 09:00 | 2379779 tmosley
tmosley's picture

Would you get the fuck out of here, you fucking racist peice of shit?

Yes, everyone knows its you, RNR.  Everyone knows you hate anyone different from yourself.  Give it the fuck up.

Fri, 04/27/2012 - 09:34 | 2379913 DeadFred
DeadFred's picture

Have you noticed how the paid trolls largely dropped off the boards when the skank ads started? Now that they are on the decline we seeing reversion to the mean on the troll index. I conclude that the banks have limited funds for the anti-ZH campaign. I wonder if the current market ramp will falter for the same reason.

Fri, 04/27/2012 - 09:42 | 2379943 Bansters-in-my-...
Bansters-in-my- feces's picture

Fred..!

What "skank ads" ?

You turned yourself in.

Fri, 04/27/2012 - 10:06 | 2380050 DOT
DOT's picture

Get a shot from the Doc; you clicked through one too many McBaggs posts !

Fri, 04/27/2012 - 09:53 | 2380002 Silver Bully
Silver Bully's picture

Cap'n Ben is givin' it all she's got! The money printer is in overdrive and he doesn't know how long he can keep 'er together!

Fri, 04/27/2012 - 15:12 | 2380876 EINSILVERGUY
EINSILVERGUY's picture

You're te best engineer in the fleet. If you can't get her out of here then I'll have to fire you

Fri, 04/27/2012 - 10:13 | 2380071 fuu
fuu's picture

I dunno Truth Team 6 still swoops in with coordinated thread shitting quite often.

Fri, 04/27/2012 - 10:37 | 2380149 Woodyg
Woodyg's picture

I thought it was Ted Nugent....

Fri, 04/27/2012 - 09:00 | 2379781 Waffen
Waffen's picture

Lots of things can be blamed with multiculturalism, but to blame bullshit numbers and manipulation of statistics by government on it, is well beyond silly.

Fri, 04/27/2012 - 09:18 | 2379846 Ivanovich
Ivanovich's picture

Cant....stop...looking at....avatar.

Fri, 04/27/2012 - 09:04 | 2379792 Kina
Kina's picture

Yep TPTB to distract from their insane corruption and destruction says.....look over there, race against race, thats a nice emotive issue that gets everybody going, lets create more controversy and circuses to keep the peasants distracted. AND of course there are always too many easy takers read to vent their hatred on something.

 

Lowest common denominatior TPTB best friend.

 

 

Sat, 04/28/2012 - 06:52 | 2381933 jeff montanye
jeff montanye's picture

so true.  the bushobama administration made clear for many more what ralph nader could not convince the people of in 2000 (parties essentially the same) despite the lieberman nomination.

Fri, 04/27/2012 - 09:37 | 2379921 victor82
victor82's picture

Look, Pickett's Charge didn't quite get the job done, okay? In fact, it was complete bollocks. You can't even blame Bernanke and the Fed for it, okay? Hang all of it on Bobby Lee.

However, there must have been Jooos about somewhere in Pennsylvania in 1863, I'll give you that.

Sat, 04/28/2012 - 06:52 | 2381935 jeff montanye
jeff montanye's picture

it's not the jews.  it's the zionists.  try to keep up.

Fri, 04/27/2012 - 10:02 | 2380036 DOT
DOT's picture

No Pluribus => No Unum.

Are you wanting to quit the experiment ? 

 

Oh, just a suggestion, but you should really man up you sniveling, wretched, whiner. This ain't the place for the insecure and ineffectual.

Fri, 04/27/2012 - 10:30 | 2380119 i love cholas
i love cholas's picture

I think i'm more shocked at 6 people voting you up. Oh yah, go fuck yourself Born Patriot 

Fri, 04/27/2012 - 09:20 | 2379854 DeadFred
DeadFred's picture

The fraud machine never sleeps so this is the number they wanted to print. We don't trust the positive prints so why do we think this miss is real? What are the options?

It's worse but they couldn't fudge it higher

They wanted a downer number now when the market is rising on a bounce so later upwards 'revisions' will support the market when it's needed

The other-than-above reason (which is most likely)

There is the possibility that a cigar is just a cigar, but I doubt it.

Fri, 04/27/2012 - 09:21 | 2379856 slaughterer
slaughterer's picture

Guys: less growth in our abnormally-warm Q1, means MORE GROWTH left over for Q2-4.   BULLISH!

Fri, 04/27/2012 - 09:38 | 2379926 victor82
victor82's picture

Yes, but its Q2 and Q3 that matter to this White House.

Fri, 04/27/2012 - 09:51 | 2379990 Stax Edwards
Stax Edwards's picture

Personal Consumption is the takeaway.  De-leveraging making way for old friend pent-up demand to rear his head.  Bullish!

Fri, 04/27/2012 - 09:22 | 2379863 Stuck on Zero
Stuck on Zero's picture

While ramping up the fraud machine don't forget to channel stuff and print another trillion and give it to the 1%.

Fri, 04/27/2012 - 08:43 | 2379697 Cdad
Cdad's picture

Tyler...you rock, man.  You are reality.

Fri, 04/27/2012 - 08:51 | 2379743 ZippyBananaPants
ZippyBananaPants's picture

I am just trying to get a better look at the chicks boobs on CNBC!

Fri, 04/27/2012 - 08:58 | 2379772 jus_lite_reading
jus_lite_reading's picture

And this number is with record M1 money supply flowing like the Niagra falls AND it's massaged which means in reality, if you subtract all the phoney pnozi money that has been injected and subtract the hopium quotient the US has a negative GDP of -5.0%+ in my opinion. How do I know? Just looking around at Main Street USA...

QE3 is now certain!!! (Shhhhhh don't tell anyone but GOLD and SILVER are about to skyrocket...)

Fri, 04/27/2012 - 11:32 | 2380298 DosZap
DosZap's picture

Planned destruction of America ON COURSE..............................who do they think they are fooling.

You cannot HOPE to control the people until they are starving, and on the streets.

WTF UP!

Fri, 04/27/2012 - 08:43 | 2379698 SeverinSlade
SeverinSlade's picture

Only question is, was this a big enough miss to spark New QE rumors?

Fri, 04/27/2012 - 08:51 | 2379742 Dr Benway
Dr Benway's picture

Gold reacted well.

Fri, 04/27/2012 - 09:25 | 2379882 narapoiddyslexia
narapoiddyslexia's picture

And the leakees pre-reacted well using gold...

Fri, 04/27/2012 - 08:54 | 2379755 spastic_colon
spastic_colon's picture

QE or not europe is up which is all that matters for our markets

Fri, 04/27/2012 - 08:43 | 2379699 the not so migh...
the not so mighty maximiza's picture

Uh o, free money junkies are on the move

Fri, 04/27/2012 - 08:43 | 2379700 SheepDog-One
SheepDog-One's picture

So Yurip double dips, we double dip. 

Fri, 04/27/2012 - 08:43 | 2379701 Cassandra Syndrome
Cassandra Syndrome's picture

And the GDP deflator is only 1.5%. Inflation is what in real terms? 10% or more? 

Also Private Investment dropping is a tell tale sign of where the economy is going. 

Fri, 04/27/2012 - 09:19 | 2379751 Cult_of_Reason
Cult_of_Reason's picture

Core PCE (personal consumption expenditures price index -- Bernanke's favorite measure of inflation) is above 2% (2.1%) -- NO QE3.

Fri, 04/27/2012 - 08:58 | 2379774 AbelCatalyst
AbelCatalyst's picture

Cassandra: the deflator issue is a significant story that few talk too much about. Thanks for pointing it out! If they used the real inflation rate we'd be seeing close to negative numbers. So the only "growth" we are seeing is inflated prices, not an actual increase in production. This kind of manipulation is truly pathetic and at some point a total loss of confidence will destroy this financial system... How many times can they lie and the people believe???

Fri, 04/27/2012 - 09:08 | 2379799 LawsofPhysics
LawsofPhysics's picture

Bullshit.  Commodities have not been "deflating".  Moreover, we have been producing more than ever (I am in agriculture) and while we have enough diesel stored for this year, 2013 will be interesting.

Moreover, deflation rewards savers, and after 30+ years of ass rape, you would think it would be about time to reward the savers and let them drive the next recovery, but that would require a large shift in power away from the banks.  Not going to happen in a country with two flavors of a single party, for the banks, by the banks.

Fri, 04/27/2012 - 09:37 | 2379922 SoNH80
SoNH80's picture

"Deflator" is Orwellian/stat speak for "inflation rate".  You apply the INflation rate as a DEflator to GDP.  So, if the inflation rate is 6%, the "GDP deflator" should be around 6%.  If you lowball the deflator, you're lowballing the inflation rate, and pumping up the GDP growth rate artificially.  They've been doing it since LBJ-- when inflation went up around 1966, he'd take a colored pencil and mark down what HE thought the deflator should be, and the bean counters got the message.

Fri, 04/27/2012 - 09:20 | 2379855 youngman
youngman's picture

All I heard this quarter is "beat estimates"...now what is an estimate..and who made them?.....if you raise prices 5%..your sales will go up....so will your bottom line....but are you gaining sales...market share...new stores...I think we need to dig into the numbers a little more to see if we sold 10 widgets ..or 15....I know companies have cut costs....I don´t think they can do more in that area other than shutting down factories or stores....but at 10% inflation...everyone should "beat estimates" every quarter

Fri, 04/27/2012 - 08:44 | 2379702 moskov
moskov's picture

So much for the coming QE3

Fri, 04/27/2012 - 08:48 | 2379713 GetZeeGold
GetZeeGold's picture

 

 

Yeah....because we can service the debt with all the tax dollars that won't be coming in.

 

Fri, 04/27/2012 - 09:18 | 2379842 SheepDog-One
SheepDog-One's picture

Theyre not worried about 'servicing' the 100.8% debt/GDP....theyre just looking for some way out of this mess theyve made.

Fri, 04/27/2012 - 08:50 | 2379732 chinaguy
chinaguy's picture

No, I think you missed it, it was (exactly) just low enough, to keep the threat of QE on the table, but not so low to prove that further QE would be wasted money.

Fri, 04/27/2012 - 08:44 | 2379703 Temporalist
Temporalist's picture

Beauty is in the eye of the debt holder.

Fri, 04/27/2012 - 08:44 | 2379704 lizzy36
lizzy36's picture

I smell a massive rally.

This has to be good for green lighting QE3,4, 5, 6.........

Funny Q1 2011 advance GDP was 1.8%.

2012 same as 2011, same as 2010.

Fri, 04/27/2012 - 08:50 | 2379726 qussl3
qussl3's picture

Question is will Banana Ben pull the trigger come June?

We're probably cleared for takeoff till then, but he better deliver.

 

Fri, 04/27/2012 - 08:57 | 2379760 GetZeeGold
GetZeeGold's picture

 

 

In the distance you can hear the sound of the helicopter engines winding up.

 

Romeo Foxtrot.......shall we dance.

http://www.youtube.com/watch?v=Gz3Cc7wlfkI

 

Fri, 04/27/2012 - 09:20 | 2379851 BLOTTO
BLOTTO's picture

I think most of us agree that QE+ is coming...either with the same name or a different look to it.

I just think the timing of it is still on hold - short term - until the U.S Presidential elections,

Queens Jubilee and

London Olympic Games are over.

In the interim, more heavily fudged, manipulated and perverted numbers to come...across the board as much as possible.

And a lot of symbolism on the way im sure...

 

Fri, 04/27/2012 - 08:45 | 2379706 Cursive
Cursive's picture

Would love to see quarterly GDP for last 5.25 years expressed in 2006 constant dollars.

Fri, 04/27/2012 - 08:48 | 2379720 kridkrid
kridkrid's picture

Why do you hate America?

Fri, 04/27/2012 - 08:46 | 2379709 MFL8240
MFL8240's picture

Anyone know the nominal growth number?

Fri, 04/27/2012 - 08:56 | 2379764 Cassandra Syndrome
Cassandra Syndrome's picture

I think its about 3.75% before the deflator of 1.5% is applied. Imagine what the real GDP figure would be if the real rate of inflation is applied via the deflator?

Fri, 04/27/2012 - 08:46 | 2379710 kridkrid
kridkrid's picture

Posted this in the last thread... all add it here as well...

I think I'll take it upon myself, whenever there is a tread about GDP, to remind everyone of just how retarded of a measure it actually is.  And before anyone goes all PC on my use of "retarded"... this is actually the correct use of the word. 

GDP says absolutely nothing about our condition as a people or our economy.  Instead, growth in GDP correlates better to the growth of the money supply which correlates to the growth of debt, all of which is emblematic of the Ponzi scheme that is our monetary system.

GDP is a distraction... fodder with which our two false parties will claim success or point out failure, simultaneously.  It's retarded.

Fri, 04/27/2012 - 08:53 | 2379733 Melin
Melin's picture

I love watching retarded people's heads spin when I correctly use "retarded."

Fri, 04/27/2012 - 08:52 | 2379741 EscapeKey
EscapeKey's picture

Imagine everyone forming a circle. A single item is introduced by person #1, who sells it to the man to the left of him, who in turn immediately sells it to the man to his left. This carries on until everyone collapses from lack of sleep.

Now, what's the GDP increment as a result of this ridiculous transaction?

And what would the GDP increment be, if they all broke a window immediately after selling the item?

Fri, 04/27/2012 - 08:46 | 2379711 EscapeKey
EscapeKey's picture

BETTER THAN EXPECTED (everything is)! DJIA +400 pts.

Fri, 04/27/2012 - 08:46 | 2379712 ZippyBananaPants
ZippyBananaPants's picture

pretty colors

Fri, 04/27/2012 - 08:47 | 2379714 Spartan
Spartan's picture

Risk On! Ben will print.....

Fri, 04/27/2012 - 08:49 | 2379719 Non Passaran
Non Passaran's picture

And G and S are doing great, thank you very much!

Fri, 04/27/2012 - 08:47 | 2379715 PR Guy
PR Guy's picture

So, that sucks then.

But if it sparks QE3 rumours then it's turtles all the way up.

Do you think QE will end up like movies with loads of sequels or those 'Now That's What I Call Music nnn'.

In 2015 we'll be on QE 97

Fri, 04/27/2012 - 08:49 | 2379724 SheepDog-One
SheepDog-One's picture

Definitely takes more and more now, same as a junkie at the stage they need to shoot up not to get high, but to just not be sick.

Fri, 04/27/2012 - 08:47 | 2379716 SheepDog-One
SheepDog-One's picture

Yea they can print more money or whatever and piss off the general public because theyre not dumb enough to not get that the money definitely doesnt end up going to them, and get $5 gas by late summer....go for it FED boys I dont really care I'm sitting on cashs and PM's. Do your worst, it will help me, hurt you.

Fri, 04/27/2012 - 08:47 | 2379717 hankwil74
hankwil74's picture

2.2% growth for 1.3 trillion in annual debt.... a bargain at twice the price!

Fri, 04/27/2012 - 08:51 | 2379736 the not so migh...
the not so mighty maximiza's picture

yeah you would think all citizens would have got at least a t-shirt for all the money spent for shit numbers that are cooked anyway.

Fri, 04/27/2012 - 08:52 | 2379746 fonzannoon
fonzannoon's picture

that would escelate cotton prices even more

Fri, 04/27/2012 - 08:55 | 2379763 EscapeKey
EscapeKey's picture

Well, CLEARLY (according to Keynesians), the "solution" is MORE PUBLIC SECTOR SPENDING!

Fri, 04/27/2012 - 09:07 | 2379802 Dr. Engali
Dr. Engali's picture

Why not? It is working so well in Japan.

Fri, 04/27/2012 - 09:25 | 2379883 youngman
youngman's picture

They just called for that exact same thing on CNBC..Cramer said Krugman is right....and Merkel is out....wow..so when the socialist really take control....Weinmar here we come...now how the EURO and the Dollar have stayed so close to each other amazes me...its got to be in some under the table agreement...

Fri, 04/27/2012 - 10:01 | 2379893 Dr. Engali
Dr. Engali's picture

The Euro/USd stays close because both teams are taking their turn printing. And Cramer is a stupid fuck.

Fri, 04/27/2012 - 09:30 | 2379892 EscapeKey
EscapeKey's picture

But of course it is. 220% public debt/GDP rising at 20% p.a. is totally sustainable, and the fact that only a 2% rise in yield would make interest payments outstrip tax receipts is also not an issue.

I mean anyone who even believes that is just a crazy conspiracy theorist.

Fri, 04/27/2012 - 09:40 | 2379919 Dr. Engali
Dr. Engali's picture

Pffffttt  don't muddy up the picture with facts. $2.52 worth of debt is clearly worth $1.00 of new GDP. Somebody is making good money. Besides who needs taxes when we can just print what we need.

Fri, 04/27/2012 - 09:40 | 2379930 victor82
victor82's picture

As a matter of fact, I have a hundred billion dollar high speed rail project I'd like to sell you in California.

Fri, 04/27/2012 - 09:28 | 2379768 gaoptimize
gaoptimize's picture

This is the most important point.  I would love to have a flows model that would show how the $1.3T gets diluted through a sick economy with only a fraction of the wealth destroying consumption ending up in corporate cash hoards.

Fri, 04/27/2012 - 09:10 | 2379810 LawsofPhysics
LawsofPhysics's picture

The capital mis-allocation and mal-investment continues, same as it ever was.  call it what it is already.

Fri, 04/27/2012 - 08:48 | 2379718 youngman
youngman's picture

It will be a rally.....this is the new normal.....8% unemploymnet..46 million on food stamps...2-2.5% GDP....the economic bar is much lower with a Democratic President...much lower

Fri, 04/27/2012 - 08:50 | 2379731 max2205
max2205's picture

What!  Obamaerama has the best market performance of any post war president....STFU and be grateful!

Fri, 04/27/2012 - 08:52 | 2379748 SheepDog-One
SheepDog-One's picture

They'll soon flip the script though to get the Romney in there to take all the blame soon though. OK then in the meantime gold and oil, resume your rising.

Fri, 04/27/2012 - 09:41 | 2379941 victor82
victor82's picture

If you only knew how many "conservatives" have flipped and are now supporters of this store mannequin, even though he is a Bushie Clone.

Makes one sick. I'm probably going to write in Palin or Ron Paul.

Fri, 04/27/2012 - 08:49 | 2379721 Let The Wurlitz...
Let The Wurlitzer Play's picture

I cant wait to see what the personal consumption exp will be next month.

 

Fri, 04/27/2012 - 08:49 | 2379722 max2205
max2205's picture

Market Makers will be clearing their inventory at higher prices for a while

Fri, 04/27/2012 - 08:50 | 2379730 SheepDog-One
SheepDog-One's picture

Selling to who though? Retail never did show up. Theyre just sloshing it around...someones going to panic and bolt for the door watch and see.

Fri, 04/27/2012 - 08:53 | 2379750 fonzannoon
fonzannoon's picture

or maybe people are more scared of cash than they are of stocks.

Fri, 04/27/2012 - 09:00 | 2379780 SheepDog-One
SheepDog-One's picture

Well at least people do know cash is worth SOMETHING, even if its really just a Monopoly game. You can take $20 to the store and buy food....sure not much food, but some. But 'stocks'? Here today *poof* its gone tomorrow for most people. 401K's are sucking ass so besides the 'CNBC stock supermodel lineup' most of the rest are dumpy Walmart women.

Fri, 04/27/2012 - 08:49 | 2379723 HyperLazy
HyperLazy's picture

Global market dip is over. Hope everyone loaded up on 3rd world exploitive corporate slave driving stocks!

Fri, 04/27/2012 - 09:43 | 2379945 victor82
victor82's picture

I see you've bought AAPL!

Fri, 04/27/2012 - 08:49 | 2379725 Temporalist
Temporalist's picture

Gold likes the GDP number.

Fri, 04/27/2012 - 08:51 | 2379738 PR Guy
PR Guy's picture

For a minute there I thought you said 'God likes the GDP number'.

Sounds like the kind of thing Sarah Palin would say (am I allowed to say her name on ZH?).

Fri, 04/27/2012 - 08:53 | 2379749 Temporalist
Temporalist's picture

If it takes you a whole minute to figure out that "gold" is not "god" then you may be related to Sarah Palin.

Fri, 04/27/2012 - 09:08 | 2379807 gaoptimize
gaoptimize's picture

Junked you both for being main stream media brainwashed critic of a genuinely kind and thoughtful woman.  Why don't you look at your lives and compare them honestly with hers. I could easilly create a "top ten reasons Sarah Palin is a goddess".  There was a better time in America when she was not that unusual, and in today's f'd up world, she was thrust into an unusual situation.

Fri, 04/27/2012 - 09:15 | 2379827 Temporalist
Temporalist's picture

Wow I guess I'll never call Sarah Palin a dumb fucking religious fanatic bulshitter again because of you.  The mainstream media didn't tell me that Sarah Palin can't read I figured that out on my own.

Fri, 04/27/2012 - 09:22 | 2379866 kridkrid
kridkrid's picture

If she were genuinely thoughtful, she wouldn't have accepted a spot on the ticket.  If she's genuinely narcissistic, she would.  There is nothing genuine about her, at least publicly.  She may have a real relationship with her husband, with her kids, etc. 

Fri, 04/27/2012 - 11:04 | 2380214 PR Guy
PR Guy's picture

I'm not sure which is the scarier thought 1) someone thinks I might be related to Palin or 2) you think she's a goddess. Get a grip of yourself man. We can help pull you through this..

Fri, 04/27/2012 - 09:45 | 2379960 victor82
victor82's picture

Yeah, junked your ass as well. Palin had a great record as Governor. Didn't leave her state with toxic debt. Not to mention S&P uprated AK's bond rating to AAa precisely because of the policies she instituted as Governor.

Don't be a prat and believe what you read in HuffPo.

Fri, 04/27/2012 - 08:51 | 2379739 bshirley1968
bshirley1968's picture

Gold likes the fact that the euro is getting pumped and the dollar is getting dumped.

Fri, 04/27/2012 - 08:51 | 2379744 youngman
youngman's picture

Every time we get a number like this or a piece of fact....more and more people/ countries  bail on the paper "markets"and go to the real money....GOLD...its a lack of confidence.....and a fear of the future

Fri, 04/27/2012 - 08:55 | 2379759 SheepDog-One
SheepDog-One's picture

Real people are piling into safety....they can ramp stocks all they want theyre just playing with themselves. They held a bubble rally, and no one showed up....good luck with that secret central banksters.

Fri, 04/27/2012 - 08:50 | 2379727 bshirley1968
bshirley1968's picture

BFD!  The market will be another 150 today.  Spain and Italy are falling apart, blah, blah, blah.......Someone needs to tell them that.  Both of their markets are up 2% today.  Maybe if we get another downgrade we can hit a new high on the DJI.

This is the biggest manipulated, bullshit I have ever seen in my life.  It will get worse because once they become shameless, they will be no different than a crack whore who would give blow jobs on the sidewalk if that is what it took to get more crack.

Euro up right now because they will be the next to print.  When they print, they will go down and dollar will go up because by then it will be our turn to print.  Then the dollar can go down again and the euro up.  That way they can print a couple of more trillion and yet on the Forex exchange it will still be dollar .76-.82 while the euro stays in the 1.28 to 1.34 range.  You and I will know that a dollar buys a helluva lot less this year than it did last, but on the exchange, by God, all will be fine.

Fri, 04/27/2012 - 08:58 | 2379773 EscapeKey
EscapeKey's picture

Yep, and the GBP is strong right now, as they said "no more printing".

Of course, it sucks just a little bit for me, as I sit with a large amount of Dollars in my Dollar-denominated business account, but hey, I'm sure they'll start the printing presses back up again soon.

Fri, 04/27/2012 - 08:50 | 2379735 VonManstein
VonManstein's picture

dollar not to happy about this

 

Fri, 04/27/2012 - 08:51 | 2379740 mayhem_korner
mayhem_korner's picture

 

 

Personal consumption boosted by blatant miss by Punxatawney Phil and hair-of-the-dog savings drainage.  Second-revised number prolly prints at 1.8% in July, which really means -0.4%.  Q2 much, much worse.

Can we get a word cloud on the MSM coverage of this?  ...just wanna see how often the word "recovery" shows up, and what adjectives are wrapped around it.

Fri, 04/27/2012 - 08:55 | 2379762 chinaguy
chinaguy's picture

When Q2 GDP numbers suck they will blame it on warm weather in Q1 - LOL

Fri, 04/27/2012 - 08:54 | 2379756 ekm
ekm's picture

As if it matters. It's been few quarters already any news, any any news or data DOES NOT matter.

All market is concentrated in few Primary Dealers' hands using Fed funds. Nothing matters until they buy up all market, same as in 2007-2008.

Fri, 04/27/2012 - 08:56 | 2379765 SheepDog-One
SheepDog-One's picture

Yep...no point at all to the pump, without the dump. Problem is this time retail did not participate, so they have to dump on themselves. 

Fri, 04/27/2012 - 09:14 | 2379828 ekm
ekm's picture

That's exactly what happened from 2007 till 2008 dump.

Fri, 04/27/2012 - 09:21 | 2379861 SheepDog-One
SheepDog-One's picture

Except in 2008, retail was all-in the markets....today, not so much.

Fri, 04/27/2012 - 09:52 | 2379996 ekm
ekm's picture

Yes up to point. After retail was maxed out they still kept buying since retail couldn't absorb all the dump available. That's why Bear Stearns and Lehman fell. All the suckers were maxed out.

Fri, 04/27/2012 - 08:57 | 2379766 Silverhog
Silverhog's picture

PPT will force a half ass rally anyway just to piss us all off.

Fri, 04/27/2012 - 08:59 | 2379776 LawsofPhysics
LawsofPhysics's picture

Hey, I'll take their money.  same as it ever was.

Fri, 04/27/2012 - 09:00 | 2379782 mayhem_korner
mayhem_korner's picture

 

 

Of course.  First 3 words of CNBC headline are "US Economy Grows"...algos don't need anything else.

Fri, 04/27/2012 - 08:56 | 2379767 cooperbry
cooperbry's picture

Ever notice that GDP increase figures seem to match inflation numbers?  Leads me to believe that our economy is actually contracting because we know that inflation is understated.

So I always seem to conclude that GDP increases is ALL inflation and that our real economy is shrinking. :(

Fri, 04/27/2012 - 08:57 | 2379769 LawsofPhysics
LawsofPhysics's picture

Will be spun as a "positive GDP" number.  Same as it ever was.  Trade the dollar Euro pair (which has been range bound for quite some time).

Fri, 04/27/2012 - 08:59 | 2379770 dryam
dryam's picture

On growth.....

Sustainability 101

http://www.youtube.com/watch?v=o0ghHia-M54

Fri, 04/27/2012 - 08:59 | 2379771 Hubbs
Hubbs's picture

So if market declines at outset on this news then insiders reacting to underlying issues of moribund economy.

 

If market rises, then we  can infer that it is due to increased expectations of QE3.

Fri, 04/27/2012 - 09:02 | 2379788 SheepDog-One
SheepDog-One's picture

And we can definitely conclude if QE were actually ever delivered, then we can see stocks rise, which no one is impressed with and more likely just making people more mad, and oil and gas and inflation rise. Well, good luck to them, they'll need it.

Fri, 04/27/2012 - 08:58 | 2379775 TradingJoe
TradingJoe's picture

You folks call this "news"?! :))) Hehehehe

Fri, 04/27/2012 - 08:59 | 2379777 firstdivision
firstdivision's picture

QE3 trade is on.

Fri, 04/27/2012 - 09:04 | 2379796 SheepDog-One
SheepDog-One's picture

Cool, make stocks go higher, that should really piss off most of americans who are now broke, Barrys already dismal 40% approval will be 30 by late summer with $5 gas by fall, that should be fun to watch.

Fri, 04/27/2012 - 09:31 | 2379898 firstdivision
firstdivision's picture

The average American doesn't care.  That's why this country is such a clusterfuck of corruption and inequality.  The government puts policies in place to supress the masses, shred the bill of rights, ignore the constitution; yet the only thing on American's minds is if the gay hispanic shot the black kid unjustly.  People don't seem to care about issues that directly effect them, only want to focus on what effects that are disjointed from their lives.

Fri, 04/27/2012 - 09:30 | 2379894 Village Smithy
Village Smithy's picture

Wait for 9:30.

Fri, 04/27/2012 - 09:01 | 2379783 bshirley1968
bshirley1968's picture

I can't believe all the goobers on this board still talking that QE crap.  Never going to happen boys.  That's because it is happening right now and will continue until the collapse.  QE is NEVER going to be announced again.  There will be creative terms for it like "twist", "LTRO", (the japs got real creative last night in what they called it), etc., but QE like int he past is a pipe dream.

The last two QE's were like emergency blood infusions.  Since then, the market has been hooked up on a permanent Bernanke IV.  They are not going to let the flow get that critical EVER again.  The economy will just become more and more immune to the effects but the IV will never be unplugged.  So enough already with the; their going to print, they gotta print, they will print, this will make them print, etc.  Time to step into the next level.  The printing is going on, and we now wait for the fall out which will come.  It will just take longer than most of us thought.

Fri, 04/27/2012 - 09:07 | 2379803 fonzannoon
fonzannoon's picture

assuming most people on here own pm's...do you think they give a shit if is announced or not?

Fri, 04/27/2012 - 11:11 | 2380227 blueskies123
blueskies123's picture

How much longer will it take for the markets to finally stop being pumped up on permanenet IV support?  Markets go up on bad news and go down on good news.

 Grece defaults, over 19 European countries soveriegn debt are downgraded, dozens of banks are also downgraded and the f'riggin markets keep going up in Q1, jan/feb/mar as if we're in the middle of some incredible economic recovery. What a crock of shiite.

Fri, 04/27/2012 - 11:11 | 2380230 blueskies123
blueskies123's picture

How much longer will it take for the markets to finally stop being pumped up on permanenet IV support?  Markets go up on bad news and go down on good news.

 Grece defaults, over 19 European countries soveriegn debt are downgraded, dozens of banks are also downgraded and the f'riggin markets keep going up in Q1, jan/feb/mar as if we're in the middle of some incredible economic recovery. What a crock of shiite.

Fri, 04/27/2012 - 09:02 | 2379786 lizzy36
lizzy36's picture

March 2009....Bernanke saw "green shoots"

June 2010......Geithner welcomed us to the recovery

December 2010......Goldman saw 4% US gdp growth in 2011.

April 2012......Rumor was 3% GDP growth.

On the back of growing the deficit by almost $6T, and DM CB's growing their balance sheets by almost $7T, the best the US can come up with is 2.2% growth.

Call me crazy, as i am no Ph.D economist, but is might be time for Plan B and Plan A seems to have hit a wall.

Fri, 04/27/2012 - 09:04 | 2379795 Temporalist
Temporalist's picture

Plan B: See Plan A (print)

Fri, 04/27/2012 - 09:32 | 2379902 youngman
youngman's picture

You are assuming the people in charge LEARN from their mistakes.....they do not...they have inner feelings that what they are doing is working...it is the RIGHT thing to do....so they will nver change..never learn from their failures...it comes from book learning..not knowledge learned from the street....

Fri, 04/27/2012 - 09:02 | 2379787 dwdollar
dwdollar's picture

Rally on bitchez!!! Inflate this new bubble to its maximum potential.

Fri, 04/27/2012 - 09:06 | 2379797 SheepDog-One
SheepDog-One's picture

Yea, really get in there and really rub the shit deep in the avg americans faces who are broke. And also give them $5 QE gas by mid summer too...the riots should be going great by then.

Fri, 04/27/2012 - 09:03 | 2379790 CreativeDestructor
CreativeDestructor's picture

This is gonna be a mother of all face ripper rallies!!!!

Fri, 04/27/2012 - 09:03 | 2379791 SmoothCoolSmoke
SmoothCoolSmoke's picture

Wow.  Market drop on real bad GDP lasted...... 24 mins!  Buck Fernankie....... to the rescue!!!!!

Fri, 04/27/2012 - 09:18 | 2379845 HyperLazy
HyperLazy's picture

In the ZH chat I predicted a 0.3% dip with a 23 minute duration... LOL

Fri, 04/27/2012 - 09:04 | 2379793 Village Smithy
Village Smithy's picture

The Republicans right now have probably the best insider trading advantage in history, but their stuck. If they blow the whistle on QE they risk crashing their own, and their corporate masters' equity funds. The upside though is an election win. If we ever find out that Republicans are dumping equities we'll know the party is over.

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