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Bursting The Permabullish Bubble: 11 Out Of 13 Economic Indicators Have Missed
Back in early 2011, even as the global economy was at best flatlining, the one goalseeked explanation to justify a levitating stock market (which was rising solely due to the short-term effect of transitory QE2 liquidity), was soaring corporate profitability (which only lasted as long as companies could trim some residual SG&A fat; they have now cut into the bone in terms of layoffs). This time around, with corporate margins having peaked, there had to be some other validation to explain away the "narrative" of the latest bout of central bank infused stock market levitation: it just happened that this time it was once again that old faithful, and always wrong, justification - decoupling. After all one just has to listen to 5 minutes of CNBC to hear it taken for granted that the US economy is doing oh so swimmingly. Here is a newsflash for all the permabulls out there. It isn't. Not only that, but as David Rosenberg highlights, 11 of the 13 most recent economic indicators have missed consensus expectations, and one can demonstrate that the other 2 - car sales and jobs - have been simplistically manipulated into a favorable outcome. So now that the market is turning over, with Europe and China both solidly into contractionary territory, with Corporate profit margins turning over, and with US data missing virtually every print, how long until the permabullish validations all go up in smoke, and the one true source of stock market "nirvana" - cheap money - is once again in high demand from the central planning cabal. In turn, the Chairsatans of the world will do as requested, as they always do, however not with crude (the real one - Brent, not that Cushing-buffered substitate) at $125, and with the risk that Israel may attack Iran any day now, with or without the blessing of the Fed's Class A director.
From David Rosenberg:
It is truly amazing how many people out there believe the economy is improving just because the S&P 500 managed to get to 1,400 this past week. The market doesn't always get it right.
But a look at the data flow suggests that beauty is in the eyes of the beholder.
Much emphasis is being put on the employment data. Outside of that, only auto sales really managed to surpass expectations regarding the U.S. data flow that has been released since the start of the month.
Meanwhile, personal income, consumer spending, ISM, net trade, NFIB, IBD/TIPP economic optimism, industrial production, NAHB, housing starts, University of Michigan consumer sentiment, and now, existing home sales, all came in below consensus estimates. So 11 indicators have missed, just 2 have beat, and supposedly we have some sort of nifty growth spurt going on. Incredible.
Speaking of the "auto sales recovery", we have previously demonstrated that this is purely on the back of yet another record month of channel stuffing by GM. Alas, just as the AOL coasters, pardon AOL OnLine activation CDs, channel stuffing always ends up in catastrophic failure. And this time around we doubt that the US population will have the stomach for yet another bailout of the insolvent automotive company whose crowning post reorganization moment has been the retraction of the Chevy Volt.
As for the other "beat" - jobs: why it is simply a case of applying the wrong seasonal adjustment factor to the months of one of the warmest winters on record.
The current edition of Maclean's runs with this on its front cover: The Year That Winter Died. This is the warmest winter in 65 years and with the least amount of snowfall as well. In fact, going back to 1960, I found a dozen times when it felt a bit like March in February. This past January was warmer than each of the prior two Februaries and four of the past five; January felt like February; February felt like March. And somehow nobody outside of us, the economists at my old shop at Merrill and NY Fed President Dudley have figured this out — how the data have been completely distorted by this weather pattern.
We estimate that if we had applied the February seasonal factor to this past January's raw payroll data, and if we had applied the March seasonal factor to the February data, both months would have shown a decline! Instead, the world buys into to the reported data that suggests that payrolls surged 511k in the first two months of 2012 (even better, the Household survey shows +1.28 million ... the best in 12 years!). Sure ... and the Leafs are making the playoffs.
The take home message here is that the redirection narratives (those displacing the true cause of the market ramp: CTRL+P) explaining the market rise have now been disproven. Which means that the magician behind the curtain is about to be exposed, and the only thing that can prevent that is for more printing to distract those who are more than happy to be distracted with yet another 5-10% rise in stocks on the back of nominal currency devaluation.
Because now that the permabullish bubble has popped, woe to the market unless the Consortium of Chairmen does not step right back in, and further 'expound' the already exponential chart of central bank balance sheets...
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Bullish!!
Car sales (GM channel stuffing) and BLS (employment farce) are both CONTROLLED by the govvy, so ya.... should be 13/13.
Bubblicious!
Green shoots.
The Leafs are making the playoffs!
Please, how NOT?
Check out this video with Rosenberg today:
http://www.planbeconomics.com/2012/03/22/david-rosenberg-on-the-crap-rec...
Print until this whole shit house goes up in flames. I say increase the money supply until the scam can't be hidden any longer; let them eat green backs
only 1 economic indicator is important....
money supply in the system.
Yep....what does reality matter when you can print money? After all, when you run out of money, only then does "reality hit"....right? Unless, of course, you are a target of those who don't share your value for "money". Then you're simply dead.
I assure you, my WIFE is in control of channel stuffing. I tried to stuff the channel last night and was told "No!"......
Rodger that
Thanks for the affirmation spinone. Today, as I knew, my "other dealer" had no problems accepting more inventory........
I highly suggest having a second dealership as a backup plan.........."backup" being the key word...........
Guess I got dinged by a pissed off married woman. If so, I'm USED TO IT!!!!! I just happen to be a fan of Bill Clinton. And given Hillary, well, you can probably understand the situation I'm in.........................
Oh dear...someone may need to, hummmm, work more on their technique? Mr Miffed just needs to smile and crook his finger and he's counting ceiling tiles. No, I didn't ding you, post is too sad to ding. Seems like there are lots of frustrated males at ZH. Good grief guys, there's one thing this government hasn't taken from you! Oh wait....my bad.
2 words to describe you:
Virgin and naive.................now please go to the Justin Bieber website and enjoy.............
Whoa...don't know who Justin bieber is. Being 51 and not watching tv must have left me a bit behind in the times, don't think I'm missing much. Can't say I'm a virgin either...wow total strike out. Well, just got back from the shooting range, gotta clean the Glock and wash up. Better luck next time.
Miffed:-)
stupid to call someone else a "virgin" when you're the one who can't get laid
Don't worry the Bernake can keep things going forever right? right? I think not.
http://ericsprott.blogspot.ca/
All I know is PCLN is a super buy here at $700 according to CNBS...and they say it's going over $1,000. Shit, good enough for me...I'm all in balls deep.
"...I'm all in balls deep"
Oh really, does your significant other know you're laying the wood to Priceline???????
Did these expert economists adjust their monthly data down to reflect an extra selling day in February? An extra day to buy cars, homes, retail products, ect.....probably not.
Perma Broke, Bitchez.
Perma-fried
Perma-grin \________/
When the tech bubble had finally popped well and true, and the floor was giving way, what happened?
9/11 happened, followed by an energy grab. Afghanistan first bc its a roadblock on the route to power projection in the ME for Russia and China. Iraq second because they had oil and it was easy.
The Chairsatan will not be allowed to let the eltes be well and truly exposed, the naked emperor. Nope, there is a false flag coming, and it can be seen a mile away. World War 3 is on the docket.
The bankers, corporations, and corrupt politicians are the real TERRORISTS. Not a comfortable thought, but dont worry you are not going to actually DO anything about it, are you?
Very few of you realize we are already at war.
"I pledge to defend the US Constitution against all enemies foreign and domestic." Sound familiar? Fuck the cops, politicos, and military for forsaking their oath. They are traitors, with all that word entails.
Oath Keepers
Oh yeah, the oath keepers have made a real difference....
Tax season is a boon in the car business. You can't get financing? Then you scrape together whatever you can find, wait for your tax refund and then grab the best deal you can find. This also works for people who can afford financing, but not a down payment. After May, the salesmen are back to having to earn their commissions.
Recently I have been in the market to purchase a used pick up for my hobby farm. So after scouring the classifieds, craigs list and determining that all the private sellers were buried in their vehicles, I started looking at used inventory at dealerships. I am here to tell you, they are choke full. GM was running a deal here in the mid-west on pick-up trucks 0% for 72 months, also I think there was some cash back too. Who in their right mind would finace a vehicle for 6 years? Good Grief. I asked the salesman if the new trucks were moving, he said, no not really because of gas prices. Most folks were bringing in their 4 door trucks, and trying to trade down, but they couldn't do those deals because the margin was not in the new smaller cars. Most of the used trucks that I inquired about were traded in on a smaller vehicle.
Gas prices are biting, and all folks are buried in the cash for clunker units.
@ReallySparky
I'm in Louisiana/Deep South. We just had our best February ever for car sales, but our economy does not track the broader American economy and our entire local economy gets a huge boost from the EITC and tax refunds in general (the average person really appreciates Uncle Sam's forced savings). For instance, we had a porter at the wash rack who walked off the job becuase he got an ~$8000 tax refund check. That will buy you a lot of Mad Dog 20/20.
Car sales are very dependent on location.
Just to the north of you we sold 35% more new cars YOY for the month of February. That is a pretty good sign.
Of course, 4 of the 5 top sellers were full size american pick up trucks, with the camry coming in 3rd. I don't think fuel prices took any sales away last month, but it will be another 3 weeks until I see March numbers.
Fuel prices sure haven't affected used prices in the slightest. In Summer 08 I purchased a 06 Dodge 2500 diesel with 20k miles on it for $20k. I'm about to sell it with 120k and a couple dings for $15k. I'm seeing a few 07-09 trucks asking within $5k of new pricing for that year model. I'm friends with a local GM of a honda dealer. He cannot get good used cars for his lot without paying well over loan value. His new cars sales have been pretty average this winter.
hobby farm? you gotta splain that for me.
Farming for fun, for excercise, for good food, and maybe to ride ol' thunder for an hour a week.
Profit is NOT part of this plan. Ask me how I know.
Well that explains it.........I've been hobby investing.
That makes my whole life a freakin' hobby.
If your looking at a used GM truck, have the brake lines checked. The brake lines on my 2003 Sierra have to be replaced because they rusted away.
7 hrs and 13 mins ago
Just saying
Timothy Geithner-
"We are encouraged that GM has repaid its debt well ahead of schedule and confident that the company is on a strong path to viability."
Timmy just said GM is not a viable company. Interesting.
What about that secret email weeks back saying that Greece will default on the 24th?
If it's secret how do you know about it?
The SPX is probably most highly correlated with jobless claims. I believe the index will follow jobless claims. As long as they trend lower, SPX will trend higher.
Silly rabbits have you not learnt anything these last 3 years... fundos don't matter. Recovery is hat trick away....QE3 biachezzz...
qe3 is a great mantra......a bit overused already....perhaps you can try ohmmmmmmmmm................
Ohmmm? WTF you learn that at some boys club ashram?
I like ohmmmmmmmmm's law.
Trifectalicious!
They're building a THIRD Queen Elizabeth?
dirty bird
We estimate that if we had applied the February seasonal factor to this past January's raw payroll data, and if we had applied the March seasonal factor to the February data, both months would have shown a decline!
______
If this is the case, can you explain when the jobs numbers will be bad? Since we are taking jobs from the future due to warm winter, when will we see the bad numbers?
I have been focused on this seasonality story for some time.
I am not confident it plays out as evidence of near term damage to the numbers. Case in point, New Claims. Those are weekly. They are seasonally adjusted, and it's late March. We should be seeing seaonality advantages diluting by now, but the numbers don't seem bad.
Published numbers will never be bad, relative to the official interpretation.
Reality on the other hand..... is in some other galaxy, drifting away at 1000 km/s.
For example, instead of tortured "jobless numbers"... how about looking at all gov expenses towards people unable to sustain themselves with their income..... in gold. (Hint: Don't calculate it, if it is late in the night, and you're scared of monsters).
Those green shoots again? Ugh!
beggar's dozen!
11 is called the banker's dozen. No, really.
Facts, fundamentals? Who needs those when you have the central bank to prop everything up?
All eyes on Monday morning. I think I got time for one more trip down the rabbit hole... then the next few years are all business.
Saw a Lexus salesman pal this morning. He was putting sales flyers on cars coming in for maintenance, which is not normal. Tried to sell me the '13 GS, which is normal. He said sales fell off a cliff Feb and Mar, which is not normal. Usually he says units are flying off the lot no matter what. And tax season is like Xmas for the car guys. A gigantic tell....!!
We are so screwed. I really don't want my Parent's to move in with me when their pension, SS check and IRA all become worthless.
You will need them then as long as they can shoot.
Marry a woman they don't approve of.
If they move in anyway just repeat this mantra over and over:
My rules, My house...
My rules, My house...
My rules, My house...
[out loud, dummy]
Sign them up for ObamaCare. Problem solved.
I don't think that will happen for a few years from now. We'll probably be hit with a bout of deflation first.
Why not move in with your parents instead? That'll shut 'em up!
Someone should tell the Conference board. Their 'new and improved' leading economic indicators says the economy will improve until summer.
http://econintersect.com/wordpress/?p=20248
Boom! Market is trying to correct now
anyways can Congress grow some f*cking testicles and get rid of Bernanke. He is insane. "Low rates didn't push up oil prices." Yes of course not, just the massive money supply, swap lines and covert QE3 pumps.
ECB and the Fed should be sent to a Ebola invested island somewhere
I've invested in Ebola - it's catching!
lol.
Well, a significant part of what he's doing is allowing them to avoid making any hard decisions like actual men should when a disaster's about to hit. So, no, I don't think they'll get rid of the man who makes astounding debt casually possible in the short term. If they had the balls to do that they would have the balls to cut spending. They don't.
Do they have an ETF for Ebola?
No matter how much fiat they try to bury it under, the market will assert itself. I don't know when, but it will.
a bubble economy to match the bubbled waist lines of egotistical bubble headed consumer driven Americans..
Possibly. But how about we acknowledge reality for a change? Here's one from Rasputin over on wallstreetbear.com
Heh, "Zero Bound Ben" will indeed go down as THE greatest central banking Pigman in history.
For, not only did he and his buddies at the Fedge (and all the other central banks, too!) stop "The Great Disintegration" dead in its tracks...
Not only did he manage to turn the stock markets around from totally crashing to totally skying...
Not only did he morph the Fed into the Fedge, the largest, most powerful hedge fund in the world...
But now he has gone on the offensive, touring the country like some kind of rock star, indoctrinating a whole new generation of fiatsco-worshipers.
By the way, were you aware that, in order to even be INVITED to this popular lecture, the students had to write an essay extolling the virtues of the Fedge?
Well, it's true.
(Ras Conclusion): And this is why there is ZERO, ZIP, NADA hope of ever returning to a gold standard, outlawing fractional reserve lending, or--especially--abolishing central banking.
Because the Fedge is too powerful, too smart, too pro-active, and the GUMS are too stupid, too willing to be enslaved to the Ponzi Pyramid of Debt and Derivatives Death, and the GHSers/SHSers are all hunkered down in their bunkers, isolated and too paranoid to band together to change the system.
We're scroomed.
Scroomed to endless cycles of "Infinite Fiat/Wash, Rinse, Repeat".
http://wallstreetbear.com/board/view.php?topic=96827&post=352314
+1 Except for the conclusion.
It seems like Ron Paul's End the Fed campaign has young people quite attracted because they know it's their futures at stake. They may represent the first generation in generations that understands the connection between sound money and liberty.
I think the next generation will have a far more liberty-focused dialogue than our current crop of "adults" and "representatives."
RP may have young people getting that something is going wrong, BUT: What percentage of them will consider non-political means, after political mechanisms exculde them?
This is an open question... i'm not implying something either way. It is (relativitly) easy to donate to someone, vote for somone, heck even spread the word.... granted, all of this is very noble in an utopian fair society.... but how many will stand up, if the supposed "fair" and "proper" way turns out to be fake?
Bottom-line is young people today were born into the Empire. The concept of "limited government" means about as much to them as 1970's Ukranian history or what kind of underwear the Shakers wore.
It's not until.gov starts taking away people in the dead of the night that future generations will care. On paper, they should care now. But real life doesn't = on paper. I learned that the hard way having studied economics in school but seeing how people live in the real world. LOL
Don't fight human nature and don't fight the Fedge.
In the meantime, if anyone wants to update the "world's most accurate encyclopedia" to note what kind of underwear the Shakers wore, that would be a more productive way to spend your Thursday night. Was it sexy thongs or grandma-panties? LOL again
http://en.wikipedia.org/wiki/The_Shakers
The fledge will destroy itself with it's own hubris.
We'll never return to a gold standard because there isn't enough gold to support the currency. An oil standard, now that could work...
There's enough of anything to support a ____ standard. I have been a long-time suporter of a Family Ties DVD standard. But I am a lone voice in the wilderness, not unlike the goldbugz. LOL
C'mon now "real estate speculator". You are better than that.
I'm praying like hell we go back to the Beanie Baby standard. Those were the gold years.
Nice joke.
How about we end on a serious note - buy physical. You still can so you should do.
I'm looking for low maintenance, low mileage, and will stay bought.
Just think...How many of us would be in the camp of "economy is improving" if not for MY MAIN MAN?
Now, tell me you can find a more dedicated, reliable source!...After all, he sleeps with one eye open, ear to the wind and an nostril, sampling the air, AT ALL TIMES!!
"Tyler Durden", whomever, you are...DON'T GO NOWHERE!!
Today was the bottom, hope you bought the dip
well then, I guess all them insider sellers are going to get hosed when they have to buy back their own stock at super duper extrafrajadotious astrocomical prices.
"Ben you are a go with throttle up"
"Roger that, go with thrott...................................................................
Bottom of jobless claims? Claims to the sky from here.
1900 jobs cut at t-mobile usa
http://www.huffingtonpost.com/2012/03/22/t-mobile-layoffs-2012_n_1373793...
Briggs & Stratton Co says it's laying off 210 employees from its Poplar Bluff, Mo., plant\
http://www.jsonline.com/business/briggs-to-lay-off-210-employees-in-miss...
hp restructuing - mas layoffs to come
http://online.wsj.com/article/SB1000142405270230463640457729524072303455...
11,700 teacher layoof in LA
http://www.neontommy.com/news/2012/03/schools-11700-teacher-layoffs-los-...
American airlines layying off 600
http://www.chicagotribune.com/site/newspaper/business/ct-biz-0322-eagle-...
my fav - bloomberg tv laying off
http://www.mediabistro.com/tvnewser/bloomberg-tv-cuts-30-staffers-adds-d...
bank of america still in process if laying off 30,000
http://www.reuters.com/article/2012/03/21/us-bankofamerica-jobcuts-idUSB...
Monster - yes the job searching website laying off 400
http://www.reuters.com/article/2012/03/22/us-monster-strategy-idUSBRE82L...
And this is just from todays news! Oh yeah, great economy we got.
In the province of the mind, what one believes to be true either is true or becomes true—within certain limits—to be found experientially and experimentally. These limits are further beliefs to be transcended.
--John C. Lilly
Did I miss something but if I recall every one of the Obaoma media outlets have been on the news over the past few months telling this country we are in a "recovery". In fact, Mr. Campaigner himself was out tell the people that things have turned the corner. Maybe someone can answer because I dont understand this anymore, at what point in time do the Republicans call this man to the carpet to tell the truth?
Seriously?
The Republicans are far too busy helping the media make them look like rabid mysogynists to concern themselves with trivial matters.
Really. The first and most elementary level to achieve is the knowledge that between Rethuglican and Demoncrat, there ain't no substantive difference. Obama is the best friend Wall Street ever had - are you kidding me?
I have found that using the term "Demopublicans" is a short and easy way to get the conversation going about how the two parties are the same.
It's short and catchy and sticks in their minds.
"...at what point in time do the Republicans call this man to the carpet to tell the truth?"
Some R's have tried, including Ron Paul. The media simply gives them no coverage. The media are lapdogs for Obama.
I don't believe them damn gummit numbers. Maybe the economy's really boomin for real.
Really, like where in Istambul?
I heard it's going to be booming in Tehran pretty soon, but that might be the shrapnel-filled thunderheads....
Apple has learnt none of you nothin' ? "if the product...." think of Ford...a rock star design for a thing called "the F150" and the company has enough borrowing authority not to go under. Too much abstraction. "tell me what you really hate" first...then at least I'll think you're not just blowin smoke up the world's behind.
And, a rally that 4 out of 5 zero hedge writers missed as well.
Correct, but the game is not over.
Chartist
Missed? Rallys are made these days. If you know one is going to be made you can call it. Not many here at ZH have the feds inside info however. In spite of 11/13 misses we could still have a rally..if Ben sez so. We no longer have a market. The idea of predicting anything up or down is like betting on red or black...except that the future is known by a select few.
Agree with the sentiment, but can't say I like the idea of economists missing their magic number as an indicator of economic growth. Seems to better reflect the state of the "profession."
If they are concerned about confidence now, just wait. I really think it's finally caught up to them.
Long bullets, guns, PM's, and non perishables. Short everything paper.
I think preppers are keeping the economy alive.
I'm a prepper he's a prepper she's a prepper wouldn't you like to be a prepper too?
Do NOT forget canned bacon!!! I laughrf too until I tried it. It will be more sought after than Cuban cigars and VSOP.
what brand do you recommend? I've been eyeing the CMMG tactical bacon
BTW im wondering if we are at the point where instead of everything being "better than expected" it will turn to "worse than expected"? I just don't see how they can bullshit anyone else into this market unless it's total liquidity purchases from our list of favorite assholes.
I think the rally is being funded by the fed Chartist. They want this dumb ole man to hop back in. I made more investing in commodities then I would have made to date with this rally. I will be honest I am afraid to jump back into the markets and see it as topping out for now. Of course I am not an economist or a savy investors, but I did no well amongst all the turmoil last year.
We can all call each other names or how some authors here missed the call, but I can do the same thing for almost all sites and the main stream media. Hell I wanted to invest 100k in BAC when it was down to 3.73 the day before buffett went in. Not on fundamentals but because based on my research and from this site and alot of others the Fed would never let BAC fail. I would have tripled my money almost now but my wife and broker talked me out of it. I missed a call and yes can kick myself in the ass for not doing it. But that is life i missed the fucking call and I am sure you have missed them as well. Alot of what goes on here at ZH in my mind is exposing the system for what it is.
I do not see this rally as a real rally. 76% of corporate profits right now are from government spending. What happens when the fed stop spending? We are basically toast so to me this is not a rally just more governement spending to support corporate profits. I maybe seeing this wrong as I am doing my best to learn but I can see bullshit when it is in front of me. So I am out of the market and as you look all over te world something bad is going to happen. I do not think it will be this year but after the elections all hell may just break loose. If I miss I am happy but will never call someone stupid because they warned someone. I will call someone stupid when they just keep spouting the party line and they are lieing and screwing over innocent people. This rally is to try and get people like me back into the market and it will not work this time.
GCT
that is funny: when the fed stop spending
hilarious
I don't think that is possible is it?
lol point well made lasvegas. But at some point in time do you not think they are going to have to cut back on spending. I am still learning! Trying to figure it all out.
So 13 of 13 Economic Indicators have missed.
Good thing there are (to name a few) alternatives to help one from having an ETrade Baby Shocked Face.
http://www.shadowstats.com/
http://theinternationalforecaster.com/index.php
http://www.trendsresearch.com/index.php
http://www.leap2020.eu/
http://www.zerohedge.com/
http://globalresearch.ca/
Time to buy
I get what David is writing. The CBs probably can't stop themselves from printing. Or if there is one bad day in the markets (ie. 1% downside), I'm sure the screams for Fed to do something about it will be very loud.
I have an idea!
Let's connect the dots!
Jobs are DECLINING, not Increasing!
Think about this, as of 03/19/2012, NEW JOBS WERE 227,000 (LAST WEEK),
If it's true that first-time unemployment claims on 03/23/2012 were 355,000, a decrease — then we have a BIG problem . . .
Both are weekly numbers, are they not? I calculate that 128,000 jobs were lost in that 1 week. THIS is can not be good news.
If you could show any period in the last 2 years where there was a net increase in jobs, (after the usual 2 month re-statements),
That would be GREAT news!
I really hope that my simple extrapolation to 6,650,000 jobs lost in the last 52 weeks is wrong!
Unless I'm mistaken, the new jobs numbers are monthly numbers, while initial claims are weekly. Much worse. This has baffled me for a while now. The unemployment number goes down, while we have a net loss of more than a million jobs a month. If someone can explain this, I'd love to hear it.
Sue whoever says they educated you. You have a great case.
Another bullish indicator. Clearly:
Detroit bond rating downgraded for second time this weekThe ratings downgrade has "triggered a termination event" regarding its swap agreements related to pension obligations that requires the city to pay $50 million each year plus interest on the unpaid balance for the next seven years, the report states.
If an emergency manager is put in place, Detroit faces a potential immediate payment equal to up to a third of its fiscal 2012 general fund budget, the report says.
Now that California has gone the way of Greece, the rot is spreading across the fruited plain.
test
Hahahahahahahahahahahahah...behold my new avatar and despair , suckerz .
How can this be bearish? the government will just give the corrupt automakers more free money. more money means more inflation means higher equities! YAY!
Fascinating this year is the wide-open cash that families are rushing in droves to get... by using their kids. Because re-fi's and home-equity loans are not possible, families that need continued life-style spending, are flocking to the one wide-open source for easy unsecured cash.... student loans. The features are awesome and families are not missing this so easy play:
First, families needing cash can send their kids to school where student loans cover the costs of the child.... reducing the family burden significantly ("one less mouth to feed"). Just gotta say "we just can't afford you at home anymore honey; you need to go to school". This alone saves a bundle to spend elsewhere.
Second, any money that parents had previously held for education can now be raided. Oh yeah! Cash in those savings bonds from grama... bonus!
Third and best of all, parents don't have to pay it back! Its the kids problem. Extend and Pretend bitchez!!! Families learning from our Government that you don't have to pay debt, just get someone else to worry about it.
Far better than a re-fi or a mortgage. Wide open and unsecured cash. No wonder that about a trillion dollars of new student loans have occurred in the past few years. Who says Americans are not the smartest consumers in the world? Where's there's a will and an unplugged hole, then there is a way. Its too good to pass up.
PS: first post
We will never see the Sucker Punch coming.
I hereby nominate the LA times for today's permabulliciousness prize for their assertion that gas prices are rising because the economy is good.
http://www.latimes.com/business/la-fi-gas-economy-20120323,0,7347982.story
It's the Demand, bitchez!
Perma-bull___ prize?
Cool sn. I almost went w/Mitch Cumstein--almost.
How to Identify a Stock Market Bottom
http://stockmarketbottom.com
The Chairsatan says its your fault. the households are not spending the money they (do not) have so you chairsatan worshipers need to get out and help .
http://www.bloomberg.com/news/2012-03-23/bernanke-says-higher-consumer-spending-need-to-sustain-growth.html
Bernanke Sees Need for Higher Household Spending to Fuel Growth Good luck on that Butt boy
One keyword for you Bennie > JOBS otherwise known as Work.That would truly help your sick agenda Chumpfuck
I'm waiting to see how the inventory is winding down.
http://www.cnhedge.com
http://www.jinrongbaike.com
What's a chevy Volt??