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Here Is This Morning's Massive Econ Data Dump

Tyler Durden's picture


Just the summary for now:

  • CPI: 0.4%, Core 0.2%, consensus for both was 0.2%; Inflation higher than expected
  • Initial Claims, +428, Exp. 411K, up from 417K (414K was revised upward of course); 22 out of 21 400K+ prints; Employment looking bad again
  • Empire Index: -8.82; Exp. -4.0, , decline from -7.72 previously; 4th consecutive decline; Manufacturing continues to look ugly
  • Q2 Current Account: -$118 billion, exp. -122.4 billion; Previous revised lower from -119.3 billion to -$119.6 billion. Irrelevant for current GDP data, and only relevant for the final Q2 GDP revision.

Visualizing the initial claims:


Empire Fed:


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Thu, 09/15/2011 - 08:37 | 1672613 101 years and c...
101 years and counting's picture

prices and firings surge.  ben is 0-2 in achieving his 2 mandates.  even a weatherman has a better record.

Thu, 09/15/2011 - 08:44 | 1672653 hungarianboy
hungarianboy's picture

Oh really? Looking at gold it seems he is scoring this time :-)

Gold to 1700 first then 1450 and maybe even lower.

Thu, 09/15/2011 - 08:46 | 1672664 HelluvaEngineer
HelluvaEngineer's picture

Short it or STFU

Thu, 09/15/2011 - 09:10 | 1672779 fuu
fuu's picture

99 weeks ago today was 10/22/2009

151 weeks ago today was 10/23/2008


151 week tally given in case this thing gets passed now.

Thu, 09/15/2011 - 09:53 | 1673050 r101958
r101958's picture

"Initial Claims, +428, Exp. 411K, up from 417K (414K was revised upward of course); 22 out of 21 400K+ prints; Employment looking bad again"

Let's just drop the 'again'. It has never gotten better. The 'perception' of getting better was created by fudging numbers and creating temporary, gov't paid, stop gap jobs.

And now, fudging and/or hiding UE numbers by reducing worker participation is keeping the published UE number from going where it actually is; above 11%.


Thu, 09/15/2011 - 11:15 | 1673433 LowProfile
LowProfile's picture



"They" will whack gold HARD.  "They" HAVE to, they have nothing to lose but their ponzi banker scheme.

So rosin up your hands and get a firm grip on your sack, because this shit will be V O L A T I L E.


Thu, 09/15/2011 - 12:19 | 1673707 boiltherich
boiltherich's picture

All I know is hamburger has gone from $2.79 a pound for 7% fat meat last year to $6.59 a pound for the same thing this year (236% increse), if that is price stability I will gladly switch to eating the Feds bogus reports.  I need not even comment on employment. 

Thu, 09/15/2011 - 08:50 | 1672683 kurzdump
kurzdump's picture

Mein lieber ungarischer Freund, I think you already informed us about your idea of whats going to happen to GLD. There is no need to post it over and over again.

Thu, 09/15/2011 - 08:54 | 1672703 taraxias
taraxias's picture

Don't feed the trolls

Thu, 09/15/2011 - 09:01 | 1672723 Dr. Richard Head
Dr. Richard Head's picture

Trolls need to eat too.  Plus, bashing them is good for our soul. 

Thu, 09/15/2011 - 09:28 | 1672903 MFL8240
MFL8240's picture

Smart comment, how about expalining why?

Thu, 09/15/2011 - 11:28 | 1673491 LowProfile
LowProfile's picture


The FED does not have political cover for direct monetization.  A massive decline in the stock market will do this.  Margin calls will be forced, even on gold.

Expect a hard decline, just not quite as bad the last time it happened.  "They" may even use this to naked short gold further as "They" have nothing to lose if they fail.

Might even happen a third time before "The Great Reset".

Thu, 09/15/2011 - 08:44 | 1672656 cossack55
cossack55's picture

Maybe we should assign the Fed 10 mandates. Rudy von Bernankenstein would then be 80%.

Thu, 09/15/2011 - 12:24 | 1673726 boiltherich
boiltherich's picture
The Fed has only ever had a single mandate, protect and increase the real wealth of the top 10% of households by income, and concentrate that defense in the top 1%.  Because we all know that is the tide that lifts all our ships, even if the rest of us see water coming over the gunwales and have to bail like mad just to slow the sinking. 


Thu, 09/15/2011 - 08:38 | 1672614 oogs66
oogs66's picture

Bullish right?

Thu, 09/15/2011 - 08:40 | 1672629 DirtMerchant
DirtMerchant's picture

around 2:30 EST it will become bullish, just like every other trading day...

BTFMU (Buy the Fucking Melt Up)

Thu, 09/15/2011 - 08:43 | 1672650 bam_son
bam_son's picture

great pic

Thu, 09/15/2011 - 08:40 | 1672630 bob_dabolina
bob_dabolina's picture

Nancy Pelosi said that unemployment benefits was the best economic stimulus you could provide. 

Thu, 09/15/2011 - 11:29 | 1673501 LowProfile
LowProfile's picture

Nancy Pelosi has an aggressive brain parasite.

Thu, 09/15/2011 - 08:41 | 1672636 HoofHearted
HoofHearted's picture

Looks like Obama saved a lot on our car insurance...we saved $4.4billion in the current accounts. Now let him show us where he is going to spend that...

Thu, 09/15/2011 - 08:41 | 1672638 HelluvaEngineer
HelluvaEngineer's picture

This is all so f*cking bullish I just came in my pants.  At the bell I'm buying NFLX with both hands.  Booyah, bitchez!

Thu, 09/15/2011 - 08:42 | 1672647 traditionalfunds
traditionalfunds's picture

Exactly. Options on Ultra Long ETFs the onlyway to play it.

Thu, 09/15/2011 - 08:38 | 1672618 Zgangsta
Zgangsta's picture

"22 out of 21 400K+ prints"

Over 100%! That can't be good.

Thu, 09/15/2011 - 08:40 | 1672632 Drag Racer
Drag Racer's picture

wait for the revision later...

Thu, 09/15/2011 - 08:40 | 1672634 DRT RD
DRT RD's picture

Refer to yesterdays articles about the intelligence of Amerikans!

Thu, 09/15/2011 - 09:03 | 1672735 Dr. Richard Head
Dr. Richard Head's picture

What is this intelligence thing you refer to?  I can quote football statistics like a baller and can name all of the Real Housewives of Fucked-Up County - aka real knowledge.  What more do we need?  Jailbreaking a smartphone?  I gots that too bitchez. 

Thu, 09/15/2011 - 09:07 | 1672734 serndipity
serndipity's picture

A terrific leading indicator, to predict the level of uneployment and new claims each week, is only to count the number of posting here.

Note: The under 30's are in the streets, the under 60's post and the rest are watching TV and/or listening to Bloomberg, reading the WSJ etc..

Thu, 09/15/2011 - 08:39 | 1672620 EscapeKey
EscapeKey's picture

I thought Bernanke recently reassured that the deflation we've been fightnig all this time in fact had been inflation, but that we shouldn't worry about it, as it was now on the decline?

Jeez, does that guy ever tell the truth about anything? How can such a lying sack of shit keep his job? I suppose he's compared to the likes of Geithner, but still...

Thu, 09/15/2011 - 08:54 | 1672699 Ponzi Unit
Ponzi Unit's picture

His job IS to lie.

Thu, 09/15/2011 - 09:06 | 1672745 Dr. Richard Head
Dr. Richard Head's picture

He reminds me of a man that has been caught by his wife in an affiar.  Deny, deny, deny until the divorcepapers are signed.  I am just wondering when the rest of the Americant public will finally file their divorce papers to the stock and banking markets,  Mine have been signed, sealed, and delivered since 2008.  Economic divorcee fun has it benefits you know. 

Thu, 09/15/2011 - 08:39 | 1672622 LawsofPhysics
LawsofPhysics's picture


Expected update, but hey look the Chinese are complaining about U.S. tresuries being a "bad" investment.  My guess is that we will have a few good auctions shortly.

Thu, 09/15/2011 - 08:39 | 1672623 papaswamp
papaswamp's picture

Looks like another green close today right? Bad news is good news? Unstable and collapsing banking systems are positive?


I think I'm starting to get the not really.


Thu, 09/15/2011 - 08:48 | 1672672 SheepDog-One
SheepDog-One's picture

Remember the daily mad pumps that made no sense at all back around DOW 12,000-12,700 right before it sold? 

Thu, 09/15/2011 - 08:39 | 1672624 Gandalf6900
Gandalf6900's picture

Europe shrugged it off like hot peepee

Thu, 09/15/2011 - 08:41 | 1672637 digitlman
digitlman's picture



Thanks, Gandalf!

Thu, 09/15/2011 - 08:42 | 1672644 DirtMerchant
DirtMerchant's picture

There was a rumor that it was raining

Thu, 09/15/2011 - 08:39 | 1672625 scatterbrains
scatterbrains's picture

I say lets print now and worry about 140 Brent later

Thu, 09/15/2011 - 09:25 | 1672870 hedgeless_horseman
hedgeless_horseman's picture

I say lets print now and worry about blame China for 140 $200 Brent later

Thu, 09/15/2011 - 08:39 | 1672626 Who is John Galt
Who is John Galt's picture


Thu, 09/15/2011 - 08:40 | 1672635 papaswamp
papaswamp's picture

Here is the key...

 August Real Earnings: -0.6% for real average hourly earnings M/M, -1.9% Y/Y. Real avg. weekly earnings -0.8% M/M, -1.8% Y/Y.

Thu, 09/15/2011 - 08:41 | 1672639 overmedicatedun...
overmedicatedundersexed's picture

markets are going down the FED needs the cover..Ben will not commit to any QE today..Obuma will scream pass the GDamn bill please please it is ruining my gold swing I am so wee weed up.

Thu, 09/15/2011 - 08:43 | 1672649 DirtMerchant
DirtMerchant's picture

Hold the Gold

You won't be sorry

Thu, 09/15/2011 - 08:49 | 1672679 SheepDog-One
SheepDog-One's picture

You knew it was over when we had presidential comments about how things are all wee wee'd up.

Thu, 09/15/2011 - 08:41 | 1672642 Gandalf6900
Gandalf6900's picture

this hurts so bad, but we are not worried about economy, the mkt has to go up regardless so BUY bitchez!!!

Thu, 09/15/2011 - 08:41 | 1672643 mvsjcl
mvsjcl's picture

And the Detroitification of America continues!

Thu, 09/15/2011 - 08:44 | 1672655 Iriestx
Iriestx's picture

Obama is the new Kwame Kilpatrick

Thu, 09/15/2011 - 08:50 | 1672681 EscapeKey
EscapeKey's picture

Detroit's decline started way before his time. Didn't they start openly discussing "spreading the wealth" schemes, and attempting to implement them in the 60'es and 70'es?

There's no well-functioning society, which socialism can't destroy.

Thu, 09/15/2011 - 09:59 | 1673087 Rodent Freikorps
Rodent Freikorps's picture

The Model Cities program was another gift of Johnson's War on Poverty.

Thu, 09/15/2011 - 08:44 | 1672657 DirtMerchant
DirtMerchant's picture

I'm in Detroit, we are experiencing deflation here, the crack whores are offering 2 for 1 now, the rest of the country has a long way to go to catch up to us!

Thu, 09/15/2011 - 08:50 | 1672687 EscapeKey
EscapeKey's picture

You sure that's not just increasing supply and lowered demand?

Thu, 09/15/2011 - 08:44 | 1672645 Killtruck
Killtruck's picture

Bullish for everything but PMs, Bitchez.

Thu, 09/15/2011 - 08:45 | 1672659 hungarianboy
hungarianboy's picture

YEH! PM going dow the toilet now.

Thu, 09/15/2011 - 08:51 | 1672685 HelluvaEngineer
HelluvaEngineer's picture

Yeah, check out that massive bounce on silver @ 40.  Bearish!

Thu, 09/15/2011 - 08:42 | 1672646 mayhem_korner
mayhem_korner's picture

Can we concoct a chart of the spread between reality and disreality? 

Thu, 09/15/2011 - 09:06 | 1672673 Esso
Esso's picture

The scaling would be a bitch. I don't think we make numbers that big.

Edit: We used to make numbers that big, but it's been offshored to China & India. Big numbers require a 20 week leadtime now.

Thu, 09/15/2011 - 08:43 | 1672648 SheepDog-One
SheepDog-One's picture

All conditions set for another rip-up green equity market open....hell we got to price in QE3 at least 1 more time.

Thu, 09/15/2011 - 08:51 | 1672689 HelluvaEngineer
HelluvaEngineer's picture

Actually, I think we're up to QE7 now.

Thu, 09/15/2011 - 08:57 | 1672711 SheepDog-One
SheepDog-One's picture

Yep, and none of em are going to be actually delivered because it would blow the wheels right off the hoopdie.

QE 'ghost in the machine' is what we got.

Thu, 09/15/2011 - 09:45 | 1673001 espirit
espirit's picture

Hopium users say buy the rumor, sell the news. Must be a bunch of those suckers out there.

Thu, 09/15/2011 - 08:43 | 1672651 spiral_eyes
spiral_eyes's picture

One question for today is what ramifications a $2 billion UBS write-down might have on the bank’s liquidity. In this cloudy and dark financial atmosphere, fire-sales of assets to pay down such a loss might spark panic.

Another question is how — after the Jerome Kerviel and Nick Leeson debacles — does a large financial fail to effectively monitor its staffs’ trading activities? Hasn’t investment banking experienced enough of these rogue trading shocks to put a system in place to prevent these kinds of activities?

Thu, 09/15/2011 - 08:58 | 1672718 Ponzi Unit
Ponzi Unit's picture

After that move in CHF it would be a surprise if someone didn't get hurt. Even if forex risk tolerances are managed in a tight band, what happens to the poor bastard who gets caught in the Swiss peg and then waits to unwind it while it just gets worse? 22% move from 1.44 to 112? Bring out your dead...

Thu, 09/15/2011 - 09:14 | 1672805 ReactionToClose...
ReactionToClosedMinds's picture

what I am about to say ... makes my head spin .... .... kind of like when  I started getting information (some of it first hand via family friends who inter-acted closely with Chicago mob) that JFK was taken down because they viewed Old Joe as a double -crosser .... they gave him WVa & Illinois  (maybe others ala New J, etc.) then AttyGnl BobbyK goes 'clean' ... perfect cover for dblcrs ... and local New Orleans intermediate level, no junior punk was he, mobster 'just happens' to be in Dallas, JRuby, to publicly take out the perpetrator on tv (I literally saw it happen that Saturday morning ... surreal then & now) ..... truth is always stranger than fiction.   Want to believe the Warren Commission depserately but tough to ignore realities.

Point:  the UBS 'debacle' will be perfect 'cover' to shovel a boatload of 'emergnecy liquidityy' in a few directions. 

Why do I feel that hte Claude Raines character, the Vichy French Inpsector in movie Casablanca, runs the 'central banks' and 'regulators'?


Thu, 09/15/2011 - 08:44 | 1672654 Marley
Marley's picture

"Manufacturing continues to look ugly" Manufacturing, what manufacturing?  Oh, yeah, Baristas is now a manufacturing job.

Thu, 09/15/2011 - 08:46 | 1672663 DirtMerchant
DirtMerchant's picture

Printing money is considered manufacturing

This is code for "no QE3 for you!"

Thu, 09/15/2011 - 08:49 | 1672674 cossack55
cossack55's picture

What do you mean "What Manufacturing"?  Those hamberger patties, lettuce, tomato, castup, mustard and pickles do not jump on the sesame seed bun all by themselves.  Sheeesh.

Thu, 09/15/2011 - 08:45 | 1672661 jbc77
jbc77's picture

And the market ramps on this news......

Thu, 09/15/2011 - 08:46 | 1672662 traditionalfunds
traditionalfunds's picture

Suppose gold seems to think no QE3 based on high cpi?

Thu, 09/15/2011 - 08:52 | 1672691 SheepDog-One
SheepDog-One's picture

Yea another QE clue. Gold limp, people with money putting it into 0% bonds, very easy for them to rip stocks higher, hell the equity markets are empty.

Thu, 09/15/2011 - 08:57 | 1672715 Oxytan
Oxytan's picture

Gold cares not if it is QE3 or not to QE3.  If not, then deflation overruns the landscape pretty quickly and money becomes more valuable (because there's less of it as it's destroyed).  Oh, I forgot gold is NOT money.  Sorry, never mind.

Thu, 09/15/2011 - 08:46 | 1672665 jjsilver
jjsilver's picture

All lies, by lying criminals that want you enslaved

Thu, 09/15/2011 - 08:49 | 1672678 Who is John Galt
Who is John Galt's picture


But seriously, time to buy some PSLV bitches!

Thu, 09/15/2011 - 08:50 | 1672680 adr
adr's picture

Well I can tell you in the real world gas didn't get any cheaper. Even though nat gas is much lower at the wholesale level retail prices are higher than last year. There have been some decent prices on ground beef but chicken and pork are through the roof.


My company has lost almost half it's purchasing power over 5 years, got to buy my prouct from Japan.

Instead of trying to actually sell a product to people my company should have just bought stock in our biggest competitor, could have retired.

That is the economy now. Nothing but bullshit, we only produce manipulated paper. If you try to run an honest business you'll be bankrupt faster than you can blink.

Thu, 09/15/2011 - 08:55 | 1672705 SheepDog-One
SheepDog-One's picture

Solvents are 100% higher for me now. A gallon of reducer that used to cost me $30 is now $60, and the shipping charges are also way higher thanks to .gov so what used to cost me $30 costs $100, thanks Zerobama.

Thu, 09/15/2011 - 09:08 | 1672760 Oxytan
Oxytan's picture

With all of the cash being held imagine the velocity, and thus inflation potential. As Jens Parsson points out in Dying of Money "People cause velocity, and they only cause hypervelocity after prolonged abuse of their trust."

Thu, 09/15/2011 - 08:51 | 1672688 SilverIsKing
SilverIsKing's picture

OpEx tomorrow

Thu, 09/15/2011 - 08:59 | 1672721 machineh
machineh's picture



Overall consumer prices increased 3.8 percent in the 12 months ended August, matching the year-over-year gain the prior month. The core CPI rose 2 percent from August 2010, more than the median forecast of a 1.9 percent increase and the most since November 2008.


The consumer price report follows Bernanke’s comments last week to the Economic Club of Minnesota that central bank officials expected inflation to slow as prices for oil and other commodities ease.

“We see little indication that the higher rate of inflation experienced so far this year has become ingrained in the economy,” Bernanke said. “Inflation is expected to moderate in the coming quarters,” he said, citing the waning of “transitory” influences like high fuel prices and global supply disruptions linked to Japan's March earthquake and tsunami.

This purblind central bankster fool would add more economic value by picking tomatoes, instead of wrecking a $15 trillion economy. 


Thu, 09/15/2011 - 09:05 | 1672741 Ponzi Unit
Thu, 09/15/2011 - 09:20 | 1672835 Silverhog
Silverhog's picture

Ponzi monster putting on it's Little Debbie outfit today. Feel safe to invest sheep.

Thu, 09/15/2011 - 09:22 | 1672849 Zgangsta
Zgangsta's picture

Wow, GS actually nailed the Industrial Production call.  Strange times indeed...

Wed, 12/21/2011 - 02:57 | 2000226 kevin22
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