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All in all, by our estimates federal fiscal policy will subtract around 1-3/4%-points from GDP growth next year
All in all, by our estimates federal fiscal policy will subtract around 1-3/4%-points from GDP growth next year
but I thought the Boener/Obama sell out had no 'real' cuts in it
(edit) I forgot Jamie and Obama have a thing going, but that would never influence one of JD's economists
and i'd have to say michael feroli was in turn scooped centuries ago by a few ancient mayans.
This is sector warfare. Private sector vs public sector.
The public sector will never suffer the pain of layoffs as the private sector does. And why should they?
I just thank god the complete and total economic collapse trajectory has not been altered.
I need to have the amount, of catastrophic economic destruction in it's final phase, maximized for my own entertainment thrills down the road. Got It?
I sure hope the Bernank starts QE3 soon.
"666" Remember that number. S&P is going back to it thanks to Senate Republican Leader McConnell.
McConnell just shut down the whole stock market economy. Oh well, it is not the real economy anyway. That part is even worse now.
Which sector would you put the TBTF banks? The debt ceiling increase, puny jobs reports, ongoing market collapse, PIIGS, consumer numbers, ISM are just pieces of the puzzle all coming together to reveal the Big QE3 Picture. Which is just another step in the Really Big Picture of ObamaBankCare. Wouldn't a sound and prosperous private sector support a strong public sector and stronger banks in the long run? Is that so hard for our "Elites" to comprehend? Is economic collapse the Really Really Big Picture?
To paraphrase that New Orleans NFL coach (sorry, senior moment) "Growth?! Growth!? Are you kidding me? Growth?!!"
DA Doooooh -
1:14p Obama eyes payroll tax-cut extension beyond 2011
Here comes our hero to blow budget deficits for 2012 (remind me, is that an election year?) out of the water. There will be no cuts, there will be extensions to the spending. Always budget cuts for the mid term outlook, record deficits for the short term...
GOLDS RESPONSE - $1,653.00
And remember this, -GATA Gold conference, London, August 4th-... I like that meeting better.
Wow, starting to look like 2012 is going to suck ass, guess I better start over feeding my dog, fatten him up, just to make sure the family has something to eat next year.......
Give this a read http://www.chrismartenson.com/blog/food-storage-dummies/55478
You are on the / DOGS/ Menu...!
You dog people are funny. You want a good read? Try the unedited Lewis and Clark diaries. They ate a lot of dog meat, and actually started to like it towards the end, oh and the Indians also pretty much only kept dogs for that purpose. Oh and FYI it was a sarcastic joke...
sub 1 %
might be wishful thinking .....
sub 0 %
more than likely ....
boat lift long
Don't a lot of the molds and fungi that grow on corpses put out green shoots?
Yeah but the explosive growth in rotisserie leagues and smart phone games will more than compensate and pull GDP growth back to industrial revolution levels. Booyah!
I like those REPO charts Tyler.
JPM: Long Prozac
So..................when is Jackson Hole?
Warren and his / READING RAILROAD.... <
It was already less than 1% for the 1st half of 2011. Hatzius has been consistently wrong about stuff cause of smoking too much shit.
i like the part where you say gold trades at $1647.16.
Whoa, $1648.8 -looks like it had a nice little pop.
pops are nice.
the marginal productivity of debt is now negative....the usa economy has contracted continuously since 2000....every additional dollar of debt will accelerate economic contraction.
This is clearly unacceptable... How are the robots supposed to jump the DOW back over 12k with all this negativity around?? And not to mention the incoming Dagong downgrade they promised last week... sometime after market close no doubt... Gotta capitalize on the US market being closed while asia continues the sell off...
Ah... every day my shiny preciouses in my safe look more shiny and more precious.... ;-)
Geeez if he is calling 1% we had better think -2%.
and suppose no QE3 announcement on 9th aug...then.........
That SOB Chairsatan had better not endorse a formal QE3 program next week. QE1 and QE2 didn't work, and there is no reason to believe QE3 will work.
The Great Chairsatan = Enemy of freedom!
Gold 1650. Where is Momo, that coward? General Jim is waiting for an apology.
I was too slow :-)Salute to Jim Sinclair!
in his next post he'll be saying something along the lines of: "as i predicted gold did hit my $1650 target before summer was out, and gentleman jim sinclair and i are gonna celebrate together."
Right on Queue Jaime...well done.
And Ben is pleased with JPM's performance I might add.
Man....these fuckers ARE predictable...aren't they?
Now that Jaime is screaming and crying that we are heading back into recession (without using that nasty little word)...there will be NO STOPPING Ben now....he has been greenlighted (actually...Jaime probably called him and told him to quite being a pussy and start the presses)
Afterall...Jaime Dimon and JPM ARE the NY Fed... and what they ask for - /demand...they will get.
This is perfect....see, August 9th is coming up qucik...and by then, the S&P should be sub 1200. This will give cover to even the most hawkish fed governor . . .who will be begging the bernank for some more liquidity.
Equities are the last piece of the puzzle that needed to be aligned...Once we get a nice sustained drop in equities... it will be smooth sailing all the way to QE land.
Things are gonna get real interesting real soon . . . me thinks
Now....is there anyyone out there who still thinks that all of the events of the last 1-2 months have not been pre-configured and coordinated? Anyone????
there is so much gamesmanship going on with the numbers it's hard to take anything serious, other than the shiny. still, it's nice to see them backtrack.
They can print all they want and nothing is going to happen to the upside. GDP was .4% in Q1 when the effects of QE2 should have been most apparent. Stick a fork in this bitch.
Who were the BIG LOSERS resulting from QE1 and QE2?
Savers and Retirees says Forbes:
"Monetary stimulus is supposed to bolster the economy by encouraging borrowing, investment, and spending. But there is also a downside, which has largely been ignored. By lowering interest rates to historically unprecedented levels, the Fed's policy has deprived savers of interest income they normally would have earned on savings accounts, certificates of deposit, money market funds, short- and long-term Treasury and municipal bonds, and interest-sensitive variable annuities, held mainly by retirees."
"Even by our most conservative estimate, which only looks at the $9.9 trillion in assets most directly affected by depressed Treasury yields, the income losses are huge."
"With the additional jobs that might have been created by higher interest income levels at this mid-point estimate, the unemployment rate could have fallen to 6.8%. Output could have grown more than twice as fast as it has, and the economy would be well on its way to a vigorous recovery, rather than struggling as it is."
full thought-provoking story at Forbes:
Off topic for a complete joke:
" Murdoch shaving foam attack: 'Jonnie Marbles' jailed "
With prior QEs ineffective at bringing the US out of depression, what will be the rationale for more QEs?
Jump in unemployment to follow. Recall a negative YoY change in GDP? "Yeah... now this is happenin"
Welcome to the Japan scenario. Where are all those guys this won't happen here in the US??? Where is all the "We're not Japan" guys??? The 10y is clearly forecasting a long period of pain, unemployment, low inflation and basically close to zero new growth.
Not a problem.
Let's just attack another nation and piss away a few trillion in a failed attempt to rebuild them into a western style democracy even if they are nothing but a un-salvageable barbaric shithole.
That is just all win.
QE (quantitative easing) is now a politico periah for an economic phrase. To use it in any financial setting is to commit political suicide. It will now be called... lets see; so many to choose from... Hmmm...
Rate Protection Facility. Basically the same bond flip scheme to keep treasuries and equities hoppin'. Most people honestly don't give a shit, which is sad, but that's the reality of our situation. They may back pocket Ron Paul's "light the t-bills/bonds on fire" idea as a way to shore up room to reload as needed. If the overall idea is to devalue regardless, that's probably a more convenient way to avoid the whole tea party/debt ceiling inconvenience.
But, oh hey, reading the top bullet points on Murdoch’s MarketWatch today, the savvy investor needs to make note of one of the critical developments following the smoothing of the debt crisis waters: “Obama calls for measures to create jobs”!
I hear Johnny Cash singing!!!!!!!!!!
WallStreet is a burning thingAnd it makes a fiery ringBound by your wild desireWallStreet fell into a ring of fire
WallStreet fell into a burning ring of fireWallStreet went DOWn, DOWn, DOWnAnd the flames went higher
WallStreet fell into a burning ring of fireWallStreet went DOWn, DOWn, DOWnAnd the flames got higherAnd it burns, ooh it burns
Well, I just lost July. Kudos to those who stayed short.
Call ratio backspread if you're feeling bullish next time. Great ass coverage.
Jesus, did anyone learn econ in college or public school. I was talking to a co-worker about housing and how we are at the end of phase 1 for 3 phases. So we are talking and I brought up higher interest rates which mean CHEAPER homes, he says no, higher interest rates mean MORE EXPENSIVE HOME PRICES and home values would soar UP, UP, UP. I'm like WTF?? If interest rates go up, and no one, or very few have 20% to put down, as the rumor for banks is next year, the vast majority are f@cked... not to mention higher unemployment, over 4 million homes hitting foreclosure status at the end of this year, and several million 99 weekers getting dumped... How does Amerika function these days?
The failure of massive government thru "Central planning" was assured by Obama and the lefties. Socialism has run thru the democratic Party From FDR to Carter to Obama. (And Bush also abandoned conservative fiscal principles.) More debt, more spending and more promises of an entitled Utopia. And the result on the economy now seems apparent and unavoidable.
Here's the PM's response to Central planning and fiat madness since the last Presidential election.
Obama Presidency Gold $850 - $1600.
Obama presidency Silver $12 - $40.
As Tyler has shown thru charts, the debt and metals have a coorilation in movement over many years. I expect fully, for it to continue.
Subtract the deficit spending for the last 10 years from GDP and we were probably negative
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