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Did The Philly Fed Just Signal The End Of Obama's 'Jobs' Recovery?

Tyler Durden's picture




 

Hidden under the covers of this morning's already dismal headline print in the Philly Fed data was a considerably worse than expected employment sub-index. Historically this has correlated highly with the non-farm payroll print and suggests (albeit correlation is not causation but gathering real evidence of a slowdown is) that we are heading for a negative print in the next employment report.

 

 

(h/t Brad Wishak at NewEdge)

 

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Thu, 07/19/2012 - 13:57 | 2632876 Jlmadyson
Jlmadyson's picture

Very nasty stuff.

It's coming.

Thu, 07/19/2012 - 14:05 | 2632919 redpill
redpill's picture

The BLS will NOT print negative prior the election.  That is not how this game works.

Thu, 07/19/2012 - 14:08 | 2632944 DoChenRollingBearing
DoChenRollingBearing's picture

Jim Clifton (CEO of Gallup) says that our leaders are digging in the wrong places re creating jobs, see what he writes in his book:

http://tinyurl.com/83np6p7

Thu, 07/19/2012 - 14:13 | 2632963 TruthInSunshine
TruthInSunshine's picture

Chucky "I Only Care About Wall Street- Fuck Flyover Country" Schumer gave his little bitch Bernank 2 weeks "to get to work."

Will Bernank roll out Mission Impossible QE3 without equity markets tanking, allowing a Hank Paulson v2.0 "martial law & tanks in streets"/GoldmanMorgue gun-to-the-head-of-401(k)s ramping lower moment?

Thu, 07/19/2012 - 15:08 | 2633188 redpill
redpill's picture

Hey at least Gordon Brown isn't around to sell it.

Thu, 07/19/2012 - 14:47 | 2633099 Not Too Important
Not Too Important's picture

How does GS bitch Schumer and Obama feel about their master sucking up to the Russians on human-rights violations?

http://freebeacon.com/bank-of-putin/

Or how about Mitt Romney? GS is Romney's top contributor, too, at $593,000 and growing:

http://www.opensecrets.org/pres12/contrib.php?cycle=2012&id=N00000286

What does our glorious Presidential candidate have to say about this? Or are they both not remotely concerned about human rights?

This election isn't between worse and worser. It's between two shades of evil. I mean really, as bad as they are, the Russians are starting to look like the good guys. What the hell has happened to this country?

Thu, 07/19/2012 - 15:12 | 2633203 pods
pods's picture

Since the first unconstitutional act was comitted by the FEDs long before I was born, we have been "voting" for a different shade of tyranny.

It has been that way for a long time.  I would either argue the war of Northern aggression, or to the adopting of the Constitution.  When a black man is determined to be something other than a man, you have tyranny.

When you can decide that God gave rights to some but not others, (and this goes on today with us blowing up brown skinned men that wont accept debt for oil), you have tyranny.

Sure the ideas of the Declaration of Independence were sound, but were implemented capriciously.  Which started us down the tyrannical road.

pods

Thu, 07/19/2012 - 16:16 | 2633517 moneyline
moneyline's picture

"the Russians are starting to look like the good guys." I have been there several times. Believe me, they are NOT the good guys. Russia/Moscow profiles like what the U.S. would look like/will look like when the !@#% really gets bad.

 

 

Thu, 07/19/2012 - 14:28 | 2633026 DosZap
DosZap's picture

DoChen,

Jim Clifton (CEO of Gallup) says that our leaders are digging in the wrong places re creating jobs, see what he writes in his book:

The sooner people learn that there never has been,never will be any attempt to create jobs, but the opposite,we may finally awaken the Sleeping Giant.

Thu, 07/19/2012 - 14:58 | 2633145 DoChenRollingBearing
DoChenRollingBearing's picture

+ 1, DosZap, I concur.  Washington, DC has actively been undermining our economy, making things worse.

I did not need Obama's help in helping to found our Peruvian company in 1991, back when he was in diapers...

And many of the answers are NOT in Washington anyway.  Clifton argues that it is the cities where large numbers of jobs CAN be created.  It's all local, although DC has been actively gumming up the works.

Green Shoots?  Bah...

Thu, 07/19/2012 - 14:08 | 2632945 jtmo3
jtmo3's picture

I agree with a big fat bull shit. The bureau of lying shits will NOT print a negative before the erection. Not gonna happen!

Thu, 07/19/2012 - 14:20 | 2632995 mess nonster
mess nonster's picture

unless... Unless the PTB have decided that Willard is supposed to be next figurehead. Then BLS comes out with bad, bad numbers. Will it happen? watch MSM for small stories about Obama's birth cert and or SS#. If these stories don't appear, then no bad numbers. If you start seeing them, then the bad numbers will come.

Thu, 07/19/2012 - 15:21 | 2633232 sdmjake
sdmjake's picture

There will be a Birth/Death model adjustment of a couple 100,000 and that'll fix the headline number... "These aren't the droids you're looking for"

 

http://weheartit.com/entry/703322

Thu, 07/19/2012 - 14:17 | 2632985 Frastric
Frastric's picture

Depends who the BLS is sleeping with, wouldn't put it past the Republicans to pay those BLS guys a few visits... The BLS skews data to their master's wishes...

Thu, 07/19/2012 - 15:06 | 2633177 MFL8240
MFL8240's picture

 

The BLS needs to change how they arrive at employment numbers by counting all the jobs we created in the Philippines, China, and India.  That is a more accurate picture of NFP created by stupid American consumers buying this junk and, this will help Obama which is their job, not to post accurate numbers.

 

Thu, 07/19/2012 - 15:25 | 2633243 r101958
r101958's picture

Easy, just drop a million or so workers off the back end and voila! Less than 8% UE.

Thu, 07/19/2012 - 16:09 | 2633486 disabledvet
disabledvet's picture

I thought the BLS was "fixed about as good as LIBOR"? If so "why not show a million jobs"?

Thu, 07/19/2012 - 16:11 | 2633490 moneyline
moneyline's picture

Yes they could and they will. Big biz and big banks want Obummer outta the White House SOOOoooo bad they might just crash the equities pre-election. BTFD.

Thu, 07/19/2012 - 16:49 | 2633641 Quantum Nucleonics
Quantum Nucleonics's picture

Exactly, any BLS monkey that puts out a negative jobs number before the election will either be sent to run a radar station in Alaska or rended off to Gitmo.

Thu, 07/19/2012 - 21:28 | 2634526 earleflorida
earleflorida's picture

Nor will they print a mediocre to a realistic number - obama wants, and needs a huge QE3 from the FED - this will be the catalyst --- the markets are telegraphing it from the rooftops on Broad & Wall

jmo

Thu, 07/19/2012 - 14:06 | 2632928 Silver Bug
Silver Bug's picture

The recovery never started!

 

http://jamesturkblog.blogspot.ca/

Thu, 07/19/2012 - 14:07 | 2632936 Raymond K Hessel
Raymond K Hessel's picture

Looks bullish for bonds... and equities. 

Thu, 07/19/2012 - 14:12 | 2632964 MillionDollarBoner_
MillionDollarBoner_'s picture

I say old chap...

Would that be "nasty" in the normal sense?

Or "nasty" as in the "gangsta" usage?

Pray tell...

Thu, 07/19/2012 - 14:14 | 2632970 t_kAyk
t_kAyk's picture

O/T, but speaking of very nasty stuff...

http://www.pantagraph.com/news/national/hot-dry-weather-likely-will-linger-into-fall/article_7d927c54-d1c4-11e1-b20b-001a4bcf887a.html

WASHINGTON, D.C. — Federal weather forecasters predict the unusually hot dry weather that has gripped much of the nation will linger into fall, especially for the parched heartland.

The National Oceanic and Atmospheric Administration’s outlook for August through October shows that nearly every state likely will have hotter than normal temperatures. Much of the Midwest is likely to be drier than normal, too.

The forecast, issued Thursday, indicates a high probability for little rain for all or parts of 15 states for August. The region encompasses Illinois, Indiana, Missouri and Iowa and the states generally surrounding them. The outlook improves a bit over three months, shrinking to just eight states.

Above normal rainfall is forecast for New Mexico, Arizona, Colorado, Utah and parts of Nevada and southern California through October.

Thu, 07/19/2012 - 14:57 | 2633143 vast-dom
vast-dom's picture

not yet. we need to see a bit more here. certainly trending ugly. the charts can be faked to buy some more time to buy more time.

Thu, 07/19/2012 - 14:00 | 2632890 TwoJacks
TwoJacks's picture

you are correct, sir

Thu, 07/19/2012 - 14:15 | 2632973 MillionDollarBoner_
MillionDollarBoner_'s picture

Agri-Subsidy and Food Stamps

It's freedom, democracy and the American Way ;o)

Thu, 07/19/2012 - 14:00 | 2632891 fonzannoon
fonzannoon's picture

A negative NFP number combined with a flatline gdp will be enough to get Bernanke involved. Oil and AG can be blamed somewhere and people will buy whatever stupid explanation comes their way.

Get to work Mr. Bernanke

Thu, 07/19/2012 - 14:12 | 2632959 ATG
ATG's picture

BB knows another QE means food and fuel cost riots.

That's why he passed the buck to Congress...

Thu, 07/19/2012 - 14:16 | 2632981 MillionDollarBoner_
MillionDollarBoner_'s picture

To you...to me...to me...to you...

All captured live on Chuckle-cam...

Thu, 07/19/2012 - 14:53 | 2633126 FL_Conservative
FL_Conservative's picture

Honestly, in watching the tape of his testimony, did Bernanke not have the "holy shit....he's gonna hand me the hot fucking potato" look when schmucky told him to "get busy".  That wasn't a happy look for Mr. Keynesian.

Thu, 07/19/2012 - 14:00 | 2632892 zebra
Thu, 07/19/2012 - 14:06 | 2632934 Nobody For President
Nobody For President's picture

As sung by the Mormon Tabernacle Choir? You can NOT make this shit up...

Thu, 07/19/2012 - 14:01 | 2632895 zero19451945
zero19451945's picture

The BLS just needs to adjust for the fact that the warm weather created more air conditioning repair jobs and POOF!!!!---> +150,000 jobs print.

Really don't think that's coming?

Thu, 07/19/2012 - 14:07 | 2632940 laomei
laomei's picture

And where's the money to pay for the repairs gonna come from?  You're all poor.

Thu, 07/19/2012 - 14:01 | 2632896 Squid Vicious
Squid Vicious's picture

jobs are for suckers!

Thu, 07/19/2012 - 14:01 | 2632903 t_kAyk
t_kAyk's picture

..."The End of Obama's 'Jobs' Recovery"...

Was there a beginning? 

Thu, 07/19/2012 - 14:06 | 2632929 sunny
sunny's picture

January 2009.  He got a job.

sunny

Thu, 07/19/2012 - 14:12 | 2632954 DosZap
DosZap's picture

..."The End of Obama's 'Jobs' Recovery "...

Was there a beginning? 

 

No, they just named it incorrectly,

..."The End of Obama's 'Jobs' Destruction"...

Thu, 07/19/2012 - 14:15 | 2632977 t_kAyk
t_kAyk's picture

Unless he leaves office next January, I believe his jobs destruction has just begun. 

Thu, 07/19/2012 - 14:32 | 2633040 Hohum
Hohum's picture

Jobs destruction started around 2000. Look at total non-farm employment.

Thu, 07/19/2012 - 14:50 | 2633107 Taterboy
Taterboy's picture

The only "jobs" Obama was ever involved with took place at Man's Country in Chicago.

Thu, 07/19/2012 - 14:02 | 2632905 cougar_w
cougar_w's picture

That's what you get for looking behind the curtain.

Thu, 07/19/2012 - 14:04 | 2632909 Cognitive Dissonance
Cognitive Dissonance's picture

But this doesn't mean that the stock market will stop its rally. In fact the pupett masters will be frantically pulling on the strings to lure back in the last of the rally suckers, those poor souls who don't want to "miss the market".

Next sucker stop is S&P 1,400. All aboard!

Thu, 07/19/2012 - 14:10 | 2632952 ATG
ATG's picture

With much respect CD,

this is the kind of thinkiing that makes a top... 

Thu, 07/19/2012 - 14:14 | 2632969 Dr. Richard Head
Dr. Richard Head's picture

All I know is that the 401K manager came into the office with an actuary touting the great benefits of a profit sharing program.  The vehicle for saving in that profit share?  The same fucking stocks touted for the 401K plan that not 20% of our employees contribute towards.  Snake oil salesmen peddling the same liquid in a different bottle. 

Thu, 07/19/2012 - 15:55 | 2633386 Goldilocks
Goldilocks's picture

Make Mine Freedom! (1948)
http://www.youtube.com/watch?v=8ECwYexm-UM (9:30)

Thu, 07/19/2012 - 14:19 | 2632991 Cognitive Dissonance
Cognitive Dissonance's picture

Sorry! Forgot the /sarc tag. :>)

Thu, 07/19/2012 - 14:10 | 2632955 Jlmadyson
Jlmadyson's picture

No need to stop the rally. Higher they go the more they push out QE which will be far too late.

Thu, 07/19/2012 - 15:07 | 2633187 ghostfaceinvestah
ghostfaceinvestah's picture

I would argue that it means the market WON'T stop its rally.  The "wealth effect" from equities is the only card Bernanke has left to play.

Does anyone really believe the Fed wasn't involved in the stock market starting in 2009?  Of course they were, and still are.

Thu, 07/19/2012 - 14:05 | 2632923 slaughterer
slaughterer's picture

Sorry, although DXY is just right, WTI too high for QE, and everybody knows it.  Need some de-escalation in Middle East.  I think that is why the story of the Swedish guy leads in the direction it does.   

Thu, 07/19/2012 - 14:07 | 2632938 Son of Loki
Son of Loki's picture

 

UPDATE: Karstadt to Cut 2,000 Jobs(WSJ)

 

By Nicky Redl

FRANKFURT--German department store chain Karstadt plans to cut 2,000 jobs by the end of 2014 as part of its restructuring program, in a further sign of the deepening problems faced by Europe's retailers.

"The measures are painful for our staff, but necessary," ...

 

http://online.wsj.com/article/BT-CO-20120717-708079.html

The infection creeps into the Deutschland.

 

 

 

 

Thu, 07/19/2012 - 14:10 | 2632951 slaughterer
slaughterer's picture

Didn't Karstadt just get bailed out from the Squid?

Thu, 07/19/2012 - 14:12 | 2632958 magpie
magpie's picture

Theatre props since 2008

Thu, 07/19/2012 - 14:17 | 2632983 walküre
walküre's picture

Schlecker tits up and Neckerman (Versand) went BK this week.

So much for the strong German job market. I hope the Greek and Spanish workers hoping for employment in Germany bought roundtrip tickets.

It's only the beginning.

Thu, 07/19/2012 - 14:43 | 2633088 JohnKozac
JohnKozac's picture

"Shovel ready jobs" (Schaufel bereit Arbeitsplätze [sp?]) is what the Germans need.....it worked well here.

Thu, 07/19/2012 - 14:09 | 2632947 ATG
ATG's picture

Looks like the end of the trend on the New Moon Sunspot high:

http://richcash8tradeblog.blogspot.com/2012/07/rich-cash-overnight-options.html

 

 

Thu, 07/19/2012 - 14:09 | 2632949 The Gooch
The Gooch's picture

hope and change

SCOPE AND RANGE!

Thu, 07/19/2012 - 14:10 | 2632953 kevinearick
kevinearick's picture

The Looking Glass: Labor’s Perspective

"We don't need no stinking jobs..."

New family labor pursued dc automation to off stupid, efficient, busy work onto machines, in a quantum negative feedback development, to the end of improving gravitational performance. Legacy capital pursued dc automation to marginalize labor, incrementally stepping up stupid, efficient, busy work, based upon the theory that intellect trumps physics, is its own end, and upon the assumption that the universe is a closed system, which is a self-fulfilling prophesy, until it’s not. The universe creates and destroys relative dimensions accordingly.

Labor separated from spirit over time, failing to seek the unknown, to be of the unknown, is not physics. And intellect, in and of itself, is simply a reductive transmission system in a positive feedback loop, a pattern matcher, albeit in multiple dimensions. Aging labor, sans spirit, the semi-neutral insulator conductor, simply responds autonomously to environmental stimulus. Together, sans spirit, the only possible outcome is replication acceleration, efficiency, a separation of charge in a short, implicitly controllable by spirit. The relativity circuit is a return, extending time accordingly.

Begin with a simple circuit – supply, return and meter. Add delays faster than the circuit can detect addition, by increasing top-down complexity. The old devices will “detect” birth, life, and death, as noise in the cabinet. All devices are motors, transducers, blah, blah, blah. The atom is not static, though it may appear to be relatively static. The spirit provides negative feedback balance. Without it, life is tuned out.

Legacy, labor that has fallen into derivative capital, assumes that complex electronic control of antiquated and mechanically simple humans is more versatile and cheaper than nature, that others are at least as stupid as they are, because so many are so willing to abandon their own designs for that of others, which the empire reinforces, on reality TV. As some tune the empire out, the less energetic are captured, transforming the middle class into a self-defeating insulator. Add impurity as required for your semi-conductor.

Take a good look at that reflection in the glass again. Do you see yourself, empire, or God? Take another look at History, through the eyes of others. Begin with the definition of beauty, through paint. The world is what you make of it, aggregated.

You were granted free will at birth. By now, you should see that human law follows behavior, not the other way around. Don’t let your eyes fool you. They are connected to a machine, specifically constructed to do so. Don’t be so quick to sell your free will for a few pieces of shiny metal, script, or anything else, but if you choose to do so, to believe in good and evil, the big, bad empire, don’t expect all others to follow your example.

Look around. How many effective parents do you see? Who is driving the rabbits out of school, which the dogs chase to improve overall performance? Who is creating crime out of thin air, to remove the example of effective behavior from the streets? Who is selling your children drugs, at a cost increasingly in excess of salaries, all at the company store?

If you were the boss, how difficult would it be to discern effective work ethic in this environment? Do you really think you can fool God, within an empire that is constructed to believe it is God?

I am a parent, with more children than the empire, which bets all against me, can count. Gravity is gravity is gravity, a shared perspective of false assumptions. Drive right through it. Define yourself with reciprocal separation from others, equal but different. Parenting is a function of will unencumbered by false assumptions, and children learn by example.

I throw my kids right into the empire churn pool. Those with the will to swim out I train. They hate me at first, but grow increasingly loyal with discernment. If it’s war the empire chooses, war it will be. Iran and Saudi Arabia are irrelevant. I can’t speak for others, but don’t expect my kids not to charge straight through the line and decapitate the empire’s leaders. There is no shortage of gravity in the universe.

From the empire’s perspective, kids are weapons, which is why it must adopt more and more laws, with more and more exceptions for itself, just to exist, if you call a machine existence. My dad taught me to expect Statey, and I taught mine, with exponential growth. You do as you like, but stupidity is not bliss.

I could care less if Kissinger and Co. thinks it’s a bully, or has an empire of followers, in Israel or the US. F-ing cavedwelling lobbyists couldn’t work one day on a real job if their life depended upon it, and sooner or later it will. Wh-s on earth or in heaven are not my prerogative. Prepare for labor reflation like your life depends upon it, because it does, regardless of who occupies the White Shanty. Don’t stand in the way of a bulldozer and expect a happy outcome.

Time is misdirection for the weak of heart. Buy all you want. Attack at will, but don’t assume anonymity and expect anything other than your own self-destruction. The Law is simple. You are better off with the devil you know than the devil you don’t, regardless of time, KISS. My kids don’t hide in caves, begging for retread derivative empire weapons. They are, experienced weapons.

Don’t f- with other people’s family, or expect the favor in return. Do unto others…police your own.

Thu, 07/19/2012 - 14:26 | 2633016 NotAMathWhiz
NotAMathWhiz's picture

I'll bet you have a manifesto posted somewhere....

Thu, 07/19/2012 - 14:28 | 2633018 magpie
magpie's picture

If it wasn't this way before, but by now it's a four or five way fight. And there are always people better suited to it.

Thu, 07/19/2012 - 17:05 | 2633691 tip e. canoe
tip e. canoe's picture

check this one out kev:

http://www.bloomberg.com/news/2012-07-17/how-summer-is-making-u-s-kids-dumber-and-fatter.html

Comrade Orszag's post-Bilderberg extra credit assignment

looks like the peanut gallery gave it a resounding F

Thu, 07/19/2012 - 14:12 | 2632960 Deep79
Deep79's picture

The Fed is terrified of launching QE, if it fails, game over, the Fed will have lost all their credibility (the fact they have any credibility is amazing in itself, but that is another story)

They will not launch QE til their is panic, aka SP approaching 1000, then it might have some effect. 

As well, the fact that EVERYONE is waiting QE to board the train and get an easy 20% return should scare the shit out of the QE brigrade.

 

Thu, 07/19/2012 - 14:16 | 2632974 the not so migh...
the not so mighty maximiza's picture

Its academic now, where the S & P is , the QE timing, The real economy is fucked.  

Thu, 07/19/2012 - 14:16 | 2632980 fonzannoon
fonzannoon's picture

The fed loses credibility by saying they will launch QE if needed and then standing idly by when it's needed.

Thu, 07/19/2012 - 14:20 | 2632996 Deep79
Deep79's picture

My friend QE is never needed. We will never recover with all the QE's. The system needs a purge, not more debt.

 

Thu, 07/19/2012 - 14:26 | 2633008 Dr. Engali
Dr. Engali's picture

Agreed. The system needs to reset ,but I think he means the fed is talking like they stand ready, but they are doing nothing. Then they will run in when the system is crashing and have to pint twice as much to catch it. They show they are behind the curve.

Thu, 07/19/2012 - 14:29 | 2633028 Deep79
Deep79's picture

I dont believe in the "powers" of the FED. 

So if we crashing to 1000-1100 and then FED launches QE, we bounce to 1300, was it a techinal bounce or QE?

Market will say look QE saved us, i say it was just a techniacal bounce. The Fed is powerless

 

 

Thu, 07/19/2012 - 15:40 | 2633103 Dr. Engali
Dr. Engali's picture

Now I totally disagree with that. Markets are all about flow of money. When new money comes in markets rise. When money is withdrawn markets fall There is no new money coming in,investrs are pullng it out. The only new money flowing in is when the fed prints.

Thu, 07/19/2012 - 14:30 | 2633033 DosZap
DosZap's picture

Dr. Engali

The system WILL reset, but none of us here will want ANY part of it.

Thu, 07/19/2012 - 14:12 | 2632962 Dr. Engali
Dr. Engali's picture

Clearly bullish.

Thu, 07/19/2012 - 14:33 | 2633043 I Am Not a Copp...
I Am Not a Copper Top's picture

Clearly!

Thu, 07/19/2012 - 14:13 | 2632968 the not so migh...
the not so mighty maximiza's picture

SPUTTER , SPUTTER , CACHUG, CACHUG

Thu, 07/19/2012 - 14:14 | 2632971 gjp
gjp's picture

I guess that's why momo is on fire then with NASDAQ 100 PE stuff lighting it up wherever you look.  Every day the same, only more obscene.

Thu, 07/19/2012 - 14:15 | 2632972 miker
miker's picture

All the US Chamber of Commerce has to do is put out a "layoff" order to all the crony corps that support it.  If they want Romney elected, they have to make the economy really bad by voting day.  Expect to see enough layoffs to exceed the 400K number for a number of weeks.    Expect to see Romney's poll numbers improve.

See why Obama (or any politician for that matter) has to play "nice" with the business community?  Only if you're a one termer, can you say and act the truth.

Thu, 07/19/2012 - 14:17 | 2632986 pasttense
pasttense's picture

Almost everyone in Washington realizes there are economic statistics a lot more important than the unemployment rate--for example the profitability of the Wall Street banks.

Thu, 07/19/2012 - 14:20 | 2632993 walküre
walküre's picture

August 2008 - October 2008

Bejing Olympics ended, oil spiked to $147, election year, market CRASH

August 2012 - October 2012

London Olympics ended, oil spiked to $110, election year, market CRASH

It is so slow out there, even the crickets stopped chirping. DEAD silence in retail and construction.

Thu, 07/19/2012 - 14:23 | 2633006 Beam Me Up Scotty
Beam Me Up Scotty's picture

Im going to buy some FAZ calls.  Just in case....

Thu, 07/19/2012 - 14:24 | 2633009 digalert
digalert's picture

I'd like to thank Obama for single-handedly creating ZeroHedge.

Thu, 07/19/2012 - 16:21 | 2633507 Illegitimi-Non-...
Illegitimi-Non-Carborundum's picture

Zerohedge was actually even better before Obama in some ways. At the peak of the crisis the inofrmation that went out over this website was absolutely outstanding. I may have not had a screen name then as I lurked because of my employer, but a lot of the guys that used to contribute either turned into Tyler's or they disappeared. Not to say the current contributors aren't great it just had a different flavor back then.

Thu, 07/19/2012 - 14:25 | 2633013 Hype Alert
Hype Alert's picture

Oh's no's.  Time for extended-extended unemployment benefits.

 

QE losing potency, Trennert.  http://finance.yahoo.com/blogs/breakout/qe3-easy-way-not-much-162040953.html?l=1

A better entry point in the next 6 months.

Thu, 07/19/2012 - 14:50 | 2633113 Jlmadyson
Jlmadyson's picture

Questioning the efficacy of QE? Going to get scarlet letter for that one heh.

Thu, 07/19/2012 - 15:11 | 2633198 Quinvarius
Quinvarius's picture

QE did a great job of keeping the banking system limping along.  That is all it was supposed to do.  I suspect it will remain potent in that respect because there is no limit to how barely alive we can keep the banks with fresh money.

Thu, 07/19/2012 - 14:38 | 2633049 Jlmadyson
Jlmadyson's picture

Here is another great one from Yahoo: 80% of consumers believe recession will last three more years.

But, but, but National Bureau of Economic Research said.....

Thu, 07/19/2012 - 14:43 | 2633087 Hype Alert
Hype Alert's picture

Which recession?  The last one we never left or the one we're headed into?  [/sarc]

Thu, 07/19/2012 - 14:39 | 2633068 Nobody For President
Nobody For President's picture

Short answer to Tyler's question: Naw.

Thu, 07/19/2012 - 14:50 | 2633111 zeneta
zeneta's picture

Turning Japanese

I really think so !!

 

deflation is a bitch.

Thu, 07/19/2012 - 15:05 | 2633172 Meesohaawnee
Meesohaawnee's picture

no it just reiterated how meaningless data is.

Thu, 07/19/2012 - 16:02 | 2633436 orangegeek
orangegeek's picture

Not as a replacement - this the employment index is directly connected.

 

However, market indexes tend to lead the economy by about 3 months.

 

The top for the SP500 (more broad based than the Dow) was in April.  Three months later and the economy starts to reflect this.

 

http://bullandbearmash.com/index/sp-500/daily/

Thu, 07/19/2012 - 16:03 | 2633450 daveeemc2
daveeemc2's picture

just 400 or so odd years before our society hits the utopian socialist state Gene Roddenberry dreamed of.

http://alexandertumilty.net/post/2635297481/building-roddenberry-utopia

So a couple generations of peeps go hungry, die broke and have no way to support themselves?

</sarcasm>

Thu, 07/19/2012 - 16:57 | 2633663 HardAssets
HardAssets's picture

They could afford to dump capitalism in Star Trek. They had machines that materialized any meal you wanted to eat.

Maybe we'll have roles in 'Hunger Games' for a few centuries before they let us play Star Trek.

Thu, 07/19/2012 - 16:50 | 2633643 HardAssets
HardAssets's picture

Who needs 'jobs' when youve got a Big War on the horizon ?

For that matter, who needs an election ?

Thu, 07/19/2012 - 16:57 | 2633665 Chaos_Theory
Chaos_Theory's picture

Will hammering chains in a FEMA camp count as fully employed? 

Thu, 07/19/2012 - 16:58 | 2633667 Snakeeyes
Snakeeyes's picture

Maybe. The Administration have GUARANTEED no employment recovery by Obamacare and Dodd Frank.

Dodd-Frank: on target to be 30,000 pages of rules and regulations. Yeh, THAT will help recovery!

http://confoundedinterest.wordpress.com/2012/07/19/jobless-claims-rise-d...

Thu, 07/19/2012 - 17:04 | 2633689 JamesBond
JamesBond's picture

people, despite the jobs outlook and overall state of the economy, obama is still polling neck-and-neck with romney...

what don't you get?  1/2 the voting population don't give a fuck about the chart reported in this article.....

 

jb

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