Goldman Denies CNBC Report It Raised Its Payroll Forecast: Squid Sees Only 50,000 Increase In NFP, And Expects Downside Risk

Tyler Durden's picture

Remember when some soon to be without any credibility media outlet (BLOOMBERG - GOLDMAN BOOSTS FORECAST FOR SEPT.PAYROLLS TO 91K:CNBC) reported less than an hour ago that Goldman hiked its NFP forecast? Well, said media "outlet" got it wrong. In fact Goldman's forecast is only for a 50,000 increase in NFP. Just out from Goldman: "The ISM non-manufacturing index was about unchanged in September at 53.0, and close to the consensus forecast (52.8). Encouragingly, the indexes for new orders and overall business activity both increased during the month (the new orders index rose by 3.7 points to 56.5). The new export orders deteriorated, suggesting the improvement in new orders reflected domestic demand. The uptick in orders and overall business activity sentiment are good signs for near-term growth momentum.In contrast, the employment component of the report fell by 2.9 points to 48.7. This indicator suggests downside risks to September payroll employment growth, at least partly offsetting the better-than-expected news from the ADP report this morning. Overall we see a bit of upside risk to our forecast for a 50,000 increase in nonfarm payrolls, but we have not made any changes to our estimate (an incorrect report that we changed our estimate was circulating this morning)." And as Zero Hedge already explained, "Interestingly detailed comments from survey participants suggest that confidence and uncertainty may be weighing on activity, and that firms are downbeat about the 2012 outlook." Sorry guys, Goldman hates this economy, and will not relent until Bernanke launches a $2 trillion LSAP. But feel free to sell your gold to Goldman which is buying up every ounce.

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.
GeneMarchbanks's picture

'But feel free to sell your gold to Goldman which is buying up every ounce.'

Yea, that's not going to happen.

When even Bloomberg has caught on to how worthless CNBC is, you know the end is near... How does a person short CNBC? GE?

Frog-And-Toad's picture

This whole "Free market" is a joke.  


As Al Capone said about the stock market in 1927:  "It's a racket. Those stock market guys are crooked."

LRC Fan's picture

You're "free" to simply not participate. 

Lots of money to be made in markets like this, if you're good/lucky the high volatiity is exactly what you want. 

Mr Lennon Hendrix's picture

Agreed.  I trade worthless fiat in for silver and I have stockpiled quite a lot of monie.

Smiddywesson's picture

The only trick CNBC hasn't tried is to add stripper poles to the newsroom.  It won't do squat for their credibility but it will help with the ratings. 

Chain Gun Smoke's picture

Still better than 0. Markets will be green at announcement.

GolfHatesMe's picture

Bloomberg is a joke.  Every Friday I email a link to to Christopher Wellisz, editor, to find a new word for Unexpected.


Tyler Durden's picture

Bloomberg was merely citing CNBC on the issue.

SheepDog-One's picture

The rumor is what counts...they can settle who got what wrong and out of context later after the stock ramp up.

wang's picture


Bloomberg is fine sometimes, like when they sued the fed. But their on air (especially TV is becoming more and more CNBSish). It is hard to believe that Mikey doesn't somehow bring to bear his political preferences both in selection of guests and hostesses. You've got Arthur Levitt almost  every morning on the radio usually on the phone from the terrace of his palatial residence  in Westport fronting on Long Island Sound, Bloomys political reporters like Al Hunt (Harwood clone) and a bunch of anchorettes trying to 'toe' the MSM line wanting to be the next CNN prime time news queen. 

Dick Darlington's picture

OT: Look at the unbelievable CORRUPTION and FRAUD in Spanish banks. We all know they are doomed while receiving billions after billions of tax payer money in order to pretend all is well and the ordinary people get hosed day after day.


And this is what the people are facing while corrupted and insolvent banks enjoy their lives like it's still 2006.

Don Birnam's picture

Still waiting for that retraction/correction, Liesman, et al.

gojam's picture

Don't hold your breath.

"Who controls the past controls the future. Who controls the present controls the past - Orwell

au_bayitch's picture

And all this time I thought Rage against the Machine said that. Testify. 

Temporalist's picture
Anonymous Vows to Attack NYSE

"Anonymous, a group of self-styled hacker-activists behind attacks on corporate and government websites, vowed to support the Occupy Wall Street protests by erasing the New York Stock Exchange “from the Internet” on Oct. 10."


Money 4 Nothing's picture

IMHO, Never happen unless it's Hari Kari. Columbus Day? I dunno...

john39's picture

anonymous smells like GOV to me.

Josh Randall's picture

exactly - true activists don't have a manifesto for Open Borders, with no mention of the Fed, etc..

Plus true Hacktivist would not broadcast where they would hack next...his plays right into the Govt's hands to regulate the internet because of all these nefarious types out there threatening our financial systems.

The well meaning good folks at the occupyWallSt are having their message hijacked - BIG TIME

Temporalist's picture

What is scarier than knowing something is coming and being unable to stop it?  The threat, followed by "success" in an attack, would be much more worrisome than just a random attack.


That being said, I was just sharing the story. 

DosZap's picture


I am dead certain Benny B, would love ANON to erase HIS books on the 10th.

When & if the books are ever opened 100%, they will be mass imprisonment.

Smiddywesson's picture

Now THERE is a good conspiracy theory.  Oct. 10 Wall Street is "attacked" and all the incriminating documentation disappears.  I like it.

Money 4 Nothing's picture

I'm going to go with.. Pant's on fire for $500 Alex. 

RobotTrader's picture

Now that many ST momentum indicators have turned up after yesterday's assblast.

All dips are going to be bought with a vengeance until every idiot that bought puts when the VXX was over 50 gets vaporized.

SheepDog-One's picture

MomoFader back in the zone, sniffing out bullshit FT driven rumor momo pops, reporting on them well after the fact of course. Pathetic paytroll.

Pladizow's picture

And this relates to the subject matter how?

John Law Lives's picture

Too bad ZH doesn't have a yawn meter. Robo would rack up on the yawns.


Yahoo! Some one is going to buy the Robo dip, and put his bitch ass to work for a living! Man' you are so fucking predictable - like a dog that licks his asshole, then looks to plant a wet one on his master, you are the best friend a guy could have! BSARK!

fuu's picture


Mercury's picture

 But feel free to sell your gold to Goldman which is buying up every ounce.

Fiatman Sachs just doesn't have the same ring to it...

Mercury's picture

God's work (and thumbs on the scale) or no, those boys can sniff out relative value when they have to...

Moneyswirth's picture

It's a truism to anyone paying attention that CNBC is a partisan propaganda machine, an organ of leftist elites.  Yet, every time I read stories like this, it never ceases to amaze.

Can't wait to watch on Friday AM just to see the hysterics as a yet another ugly NFP print comes out.   

SheepDog-One's picture

A depression market now reduced to 1 fundamental, well timed strategic rumors. Just pathetic.

Smiddywesson's picture

No, it's a puppet show for all the tiny little creatures to hit each other over the head while the people who really count look on and laugh.

s2man's picture

Yesterday, Bloomberg rumored that Sprint was going to pay $600 for the new iPhones and sell them for $200.  S tanked 18% in minutes, only to recover just as quickly when folks figured out it wasn't true.

The jerks didn't mention the other iphone carriers.  I guess they were short S and wanted to cash out.

SheepDog-One's picture

What new Iphones? I was just reading last nite the 'Iphone 5' announcement fell theyre pricing it in?

catacl1sm's picture

iPhone 4S. coming to a store near you. You can get one too for $199 + a new 2 yr contract. It has a better camera than the iPhone 4!

Temporalist's picture

Don't forget that for just that $200 you get to be instantly cool to people who live at Apple stores...and other zombies.  If you like zombie sex get the new iPhone!

Hansel's picture

It's so stupid to predict a change smaller than the margin of error, which for the establishment survey is 100,000.  "I'm predicting that I cannot confidently measure a change."

Vincent Vega's picture

For giggles and grins I just looked on Bloomberg. GS does show their forecast for Friday's NFP number as +50,000.

SheepDog-One's picture

And just this morning CNBC was whining about ZH spreading rumors? 

catacl1sm's picture

"Do as I SAY, not as I DO!"

dracos_ghost's picture

Except ZH usually posts supporting documents/links to support their claims with full disclosure that humanity is corrupt with personal agendas so take it with a grain of salt. CNBC/FT/Bloomberg are just little sycophants defending the machine. I love that most of these rumours are now spread with highly dramatic headlines so the algos can sweep and trade too.

I cant believe 10 years ago the US locked up a 19 year kid for pumping and dumping on forums but CNBC, FT can do "social engineering" rumours to support th PTB without fear of prosecution.

I use to say that the markets have become like casinos. Casinos have more integrity nowadays.

vote_libertarian_party's picture

What are 'export services'?  Is that like sending hookers to Saudia Arabia?

catacl1sm's picture

Yes, but they're not hookers. They're sex slaves. Hookers get paid and 'choose' their lifestyle.

nyse's picture

+1 (Ya beat me. I must reload page before making nonsensical/redundant jokes.)

nyse's picture

Kind of... but instead of sending its selling, and instead of hookers it is blonde women.

SteveGennisonBallWasher's picture

Ive got a friend in finance for one of the bigger regional banks here in Cleveland.  I tell him to read ZH all the time.  He says he does from time to time, which is probably a lie.  I talked about how yesterday's rally was completely comical.  But he can care less.  He touts Buffett as his hero, even though I've made references to how bad of a recent investor he was... case in point BofA and Goldman purchases.  These are the type of people we are dealing with, no one gives a shit how its done.  As long as the money is made.  I'm a fairly new commentor here, but thanks a lot ZH, for making me insane amongst my family and friends.