Goldman On The NFP Number: "Good Not Great"

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Fri, 08/05/2011 - 09:21 | 1526484 Archimedes
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Said it earlier and I will say it again. I am shorting this Rally....

Fri, 08/05/2011 - 09:28 | 1526508 GeneMarchbanks
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... and so you should. This is just what Goldman has already done.

Fri, 08/05/2011 - 09:49 | 1526566 r101958
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Agreed. Looking at the BLS statistics, it shows -193k in the work force participation number but.....and here is the kicker........Not in Labor Force increased by ....374k! So, the fudge factor here is over 500k....567k to be exact!

Fri, 08/05/2011 - 10:37 | 1526751 Tom_333
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Me too. Will be interesting to see future NFP numbers. If I am not mistaken - das Gestalt of the debt ceiling deal is more cuts (some at least) and less tax increases than what was originally dreamed up by Dem´s. This shows that the U.S. is between a rock and a hard place. It´s a good idea to cut but these cuts will increase redundancies in the bloated Fed budget and lead to more folks in public sector moving into the unemployed pool. Todays NFP is therefore a more than ever backwardslooking figure and does not reflect the increasing current dynamic.Any "rally" based on todays figures will be shortlived.

Fri, 08/05/2011 - 10:45 | 1526776 Widowmaker
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Who cares what the liars and thieves at Goldman schlepps have to say?

Really. Fuck Goldman Sacks.

Fuck every person that collects a paycheck from that fraud factory.

Fri, 08/05/2011 - 09:26 | 1526493 Boilermaker
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Who gives a damn?

Fri, 08/05/2011 - 09:30 | 1526513 GeneMarchbanks
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Uncle Sam. Or so I've been told.

Fri, 08/05/2011 - 09:34 | 1526524 DonnieD
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My thoughts exactly. Why do we care about what Goldman wants us to think. He should send his reports directly to Bernanke and spare the rest of us.


Fri, 08/05/2011 - 09:45 | 1526535 DaveyJones
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Goldman on the 666 number: Great not good

Fri, 08/05/2011 - 10:28 | 1526727 Spastica Rex
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616 is the new 666.

Fri, 08/05/2011 - 11:15 | 1526861 DaveyJones
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even Satan's losing value

odd since so many folks are buying in

Fri, 08/05/2011 - 09:26 | 1526494 iNull
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It's just so comical.

The world is burning to the ground. And you, YOU, have signed on to this Satanic system. And the comical thing is you look around and say "I don't understand what's happening." "I don't know what's happening."

What a circus. You see the circus tents being erected, and then are surprised when the circus comes to town. Fools. Goddamn fools.

Fri, 08/05/2011 - 09:49 | 1526567 SheepDog-One
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Who has signed into a satanic system?

Fri, 08/05/2011 - 10:05 | 1526627 DaveyJones
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Just look for the red ink

Fri, 08/05/2011 - 09:26 | 1526497 Gert_B_Frobe
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My view out the Titanic's porthole says different

Fri, 08/05/2011 - 09:58 | 1526608 snowball777
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Oh, that's a porthole! I thought it was an aquarium.

Fri, 08/05/2011 - 09:27 | 1526499 slaughterer
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Archi, tell us when you enter your shorts. 

Fri, 08/05/2011 - 09:32 | 1526517 Archimedes
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One of my rules of investing / Trading: Never place a trade before 10:30 am.

Fri, 08/05/2011 - 09:53 | 1526581 DonnieD
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Don't forget to never take seriously an economic forecast from someone working at a TBTF or the government

Fri, 08/05/2011 - 09:28 | 1526500 writingsonthewall
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Wheels coming off? - This hasn't even been mentioned by MSM media in Britain - or anywhere else for that matter.

"The dramatic fall in the share price caused a temporary suspension in the trading of RBS shares, making it the third of Britain's major banks to have had trading halted in its shares in the last 24 hours after Lloyds Banking Group and Barclays yesterday. "


How can you just halt trading - and won't it just resume selling when it's back? I see that the share prices of these banks staged a miraculous 'recovery' (if you can call it a recovery - well going by the Governments definitions - I'd say so!)


Is this plunge protection in action? Doesn't this mean everyone will take their chance and get out - leaving the PPT holding the baby?

Fri, 08/05/2011 - 09:48 | 1526562 SheepDog-One
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Capital and real confidence will never form in systems as corrupt as these. The markets are dead empty, the only players in the casino are the mob bosses there to receive their free money directly from the 0% window. Its all BS.

Fri, 08/05/2011 - 09:31 | 1526515 fuu
fuu's picture

Good for +167 in the first minute.

Fri, 08/05/2011 - 09:32 | 1526521 Gert_B_Frobe
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We'll see about the last 30

Fri, 08/05/2011 - 09:34 | 1526527 Iriestx
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Why wouldn't it last all day?  In this bizzaro world, a NFP number massaged by 230k B/D adjustment is proof that the global economy fixed itself over night.

Fri, 08/05/2011 - 10:34 | 1526737 Spastica Rex
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Every piece of "good" data proves that past fears were unjustified. Every piece of "bad" data is spurious and should be ignored. In our world, water only flows uphill long term.

Fri, 08/05/2011 - 09:43 | 1526553 SheepDog-One
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Just some short covering.

Fri, 08/05/2011 - 09:55 | 1526588 docj
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WEll, the bounce didn't even last until 10:00 - most of the market is in the red already in spite of this "Strong Jobs Report" (at least it's "Strong" according to the Ministry of Truth - AP branch).

Fri, 08/05/2011 - 10:21 | 1526680 fuu
fuu's picture

Chart looks like a sine wave through 80 minutes. +1.55% to -1.55% and back to 0.

EDIT: Google finance summary chart that is.

Fri, 08/05/2011 - 09:37 | 1526537 iNull
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It's just the price of "high society." There is no "law" that applies to the elite. How long has this been going on? Oh, I don't know. A good 2,000 years at least.

Fri, 08/05/2011 - 09:38 | 1526548 dexter_morgan
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So when do the real (i.e. revised down) numbers come out?

Fri, 08/05/2011 - 09:46 | 1526559 fwchiro
fwchiro's picture

Isn't GS commenting on the NFP numbers a bit like an author critiquing his own work?

Fri, 08/05/2011 - 09:46 | 1526560 Texas Ginslinger
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What's with the Goldline Internation ad, which is pushed by Glenn Beck..???

Are you recommending that we buy gold from them..???

Do you endorse your advertisers..??

Fri, 08/05/2011 - 09:55 | 1526592 snowball777
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Do not blame TD for what you make AdSense do.

Fri, 08/05/2011 - 10:07 | 1526641 dexter_morgan
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google puts that shit out there, not Tyler - been looking at any PM sites? Thats why that's there.

Fri, 08/05/2011 - 09:46 | 1526563 youngman
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They are trying to talk it up...but I think the Europe close will set the stage for the day....CAC is up.....?????  others down.....I think bank runs this weekend in Europe...

Fri, 08/05/2011 - 09:59 | 1526609 Version 7
Version 7's picture

Bank runs in the EU have been quietly ongoing for months now (Greece, Portugal, Ireland and so on) but the ECB is desperately trying to keep the zombies alive with repeated liquidity windows and buying sovereign debt.

Fri, 08/05/2011 - 10:27 | 1526712 Zedge Hero
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Bank runs in Europe and Bank Protests in Israel, the Global Banking Cartel is feeling the heat.

Fri, 08/05/2011 - 09:50 | 1526568 nowhereman
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The fact that everyone, and I do mean everyone, knows that government statistics are dubious at best, or more to the truth, outright lies only proves to me that there is no such thing as a "true" investor.

It boggles the mind that there are people willing to play this corrupt game, and yet I see daily instances of people playing at this casino as if somehow they can't get there minds around the fact that the house always wins.

P.T. Barnum was a very wise man.

Fri, 08/05/2011 - 09:54 | 1526583 snowball777
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It makes perfect sense, if the marks all think someone else is the mark.

Fri, 08/05/2011 - 10:16 | 1526675 Abitdodgie
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Most people who are still playing the market are compulsive gamblers and they will play it till it dies and takes them with it , why would you still risk your money when you can make a dumb investment in AU/AG and sit back and make lots of money , because compulsive gambling is a mental problem ( that should piss off the gamblers,please feel free to junk because you dont have a problem you have it totally under control)

Fri, 08/05/2011 - 09:50 | 1526569 Sour Grapes
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Look at the household survey, non-seasonally adjusted, year-over-year employment number:

Number of jobs added in one year - only 250,000

Fri, 08/05/2011 - 09:52 | 1526579 SheepDog-One
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And I dont even believe that...250K jobs added where? What companies are hiring big time? None that I know of at all. 

Fri, 08/05/2011 - 09:58 | 1526603 WoodMizer
WoodMizer's picture

The porn industry still dominates internet traffic.

Fri, 08/05/2011 - 09:57 | 1526599 r101958
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I don't buy this number either. Here are a couple of facts....straight from the BLS pdf:

July 2010:

Civilian labor force: 153.6m   

Not in Labor Force: 84.2m

July 2011:

Civilian labor force: 153.2m   (-400k since Jul2010)

Not in Labor Force: 86.4m (+2.2m since Jul2010)

-2.6m in 12 months???

This does not even count the Birth/Death model monthly fudging.

Fri, 08/05/2011 - 10:30 | 1526724 r101958
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By the way, just so you all know, the 'Not in Labor Force' number increased by 374k last month alone.

Fri, 08/05/2011 - 09:48 | 1526574 Catullus
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The AAPL/NASDAQ just went negative. It's on.

Fri, 08/05/2011 - 09:51 | 1526575 Cassandra Syndrome
Cassandra Syndrome's picture

Proletarian Translation - "Shite not Ok"

Fri, 08/05/2011 - 09:54 | 1526586 Cassandra Syndrome
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What put Skynet into the red?

Fri, 08/05/2011 - 09:52 | 1526587 digalert
digalert's picture

Mr. Market just read ZH



Fri, 08/05/2011 - 09:55 | 1526590 buzzsaw99
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Dig Goldman talking like it isn't all going to collapse into a heap of rubble. It's a man baby.

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