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July Non Farm Payrolls Slam Expectations At 163,000K, Unemployment Rate 8.Rises To 3%

Tyler Durden's picture





 

Expectations were +100,000, NFP prints at 163,000K. Goodbye QE in 2012.

From the report:

Total nonfarm payroll employment rose by 163,000 in July, and the unemployment rate was essentially unchanged at 8.3 percent, the U.S. Bureau of Labor Statistics reported today. Employment rose in professional and business services, food services and drinking places, and manufacturing.

 

Household Survey Data

 

Both the number of unemployed persons (12.8 million) and the unemployment rate (8.3 percent) were essentially unchanged in July. Both measures have shown little movement thus far in 2012. (See table A-1.)

 

Among the major worker groups, the unemployment rate for Hispanics (10.3 percent) edged down in July, while the rates for adult men (7.7 percent), adult women (7.5 percent), teenagers (23.8 percent), whites (7.4 percent), and blacks (14.1 percent)  showed little or no change. The jobless rate for Asians was 6.2 percent in July (not seasonally adjusted), little changed from a year earlier. (See tables A-1, A-2, and A-3.)

 

In July, the number of long-term unemployed (those jobless for 27 weeks and over) was little changed at 5.2 million. These individuals accounted for 40.7 percent of the unemployed. (See table A-12.)

 

Both the civilian labor force participation rate, at 63.7 percent, and the employment-population ratio, at 58.4 percent, changed little in July. (See table A-1.)

Participation rate drops to 63.7%, 3 month low and back to secular low levels:

 


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Fri, 08/03/2012 - 08:32 | Link to Comment LoneStarHog
LoneStarHog's picture

BULLSHIT !!!!!

Fri, 08/03/2012 - 08:33 | Link to Comment malikai
Fri, 08/03/2012 - 08:36 | Link to Comment flacon
flacon's picture

If the markets go down today, does that mean the VIX will tank as well like it did yesterday?

Fri, 08/03/2012 - 08:40 | Link to Comment Patriot Eke
Patriot Eke's picture

All unemployment problems are easily fixed by simply adding more debt. Let's all get government jobs and see how that works out. har har

Fri, 08/03/2012 - 08:42 | Link to Comment Debtonation
Debtonation's picture

It must have something to do with the weather.

Fri, 08/03/2012 - 08:54 | Link to Comment TruthInSunshine
TruthInSunshine's picture

Transitory job creation due to seasonal factors led to an overall greater print, but this is an absolutely terrible, terrible report, thus necessitating a further round of printing money to distribute to the bff of the FRBNY....errr....a further round of QE in order to create fiat from thin air and finance deficit spending...........errrr......a further round of monetarily stimulative bond and toxic asset buying by the Fed in order to try and jolt life into the economy- yeah, that's the ticket.

 

Sincerely,

 

Ben S. Bernanke


cc:     William Dudley

cc:     Timmmmay

cc:     Lloyd & Jamie

bcc:   The Hon. Jon S. Corzine

Fri, 08/03/2012 - 09:29 | Link to Comment flacon
flacon's picture

I am glad you didn't forget to add the descriptor "honourable" to Jon Corzine. ;)

Fri, 08/03/2012 - 09:32 | Link to Comment flacon
flacon's picture

VXX DOWN FUCKING FOUR PERCENT at open! Fuckers! Damn you fuckers!

Fri, 08/03/2012 - 08:42 | Link to Comment brewing
brewing's picture

had to increase jobs in "drinking establishments" to accomodate all the new users of prozac...

Fri, 08/03/2012 - 08:43 | Link to Comment HelluvaEngineer
HelluvaEngineer's picture

Apparently the VIX is being managed to go down every day, no matter what.

Fri, 08/03/2012 - 08:46 | Link to Comment orangedrinkandchips
orangedrinkandchips's picture

every single fucking day.....

 

talk about out-of-whack indicators.....

 

bonds, vix , domestic stocks, international stocks.......

 

one of these things is not like the other!

Fri, 08/03/2012 - 09:15 | Link to Comment Everybodys All ...
Everybodys All American's picture

think Li(e)bor and you'll begin to understand what is going on with the Vix.

Fri, 08/03/2012 - 09:42 | Link to Comment singsing
singsing's picture

...and you know this because?   Insider?  Not disagreeing but there has yet to be any real discussion on this.  What is the benefit of of a suppressed VIX?  Can't figure it out.

Fri, 08/03/2012 - 10:00 | Link to Comment MachoMan
MachoMan's picture

What is the benefit of suppressed metals?  Perception...

Fri, 08/03/2012 - 08:33 | Link to Comment Shocker
Shocker's picture

Close but its actually being called a recovery :)
Yes Some are standard business as normal, but several are not.
Full Reference List Below

http://www.dailyjobcuts.com

 

 

Fri, 08/03/2012 - 08:33 | Link to Comment GetZeeGold
GetZeeGold's picture

 

 

Your Nobel Prize is in the mail.

 

Fri, 08/03/2012 - 08:39 | Link to Comment Patriot Eke
Patriot Eke's picture

A PhD in economics too!

Fri, 08/03/2012 - 08:42 | Link to Comment GetZeeGold
GetZeeGold's picture

 

 

Plus free shipping....hell of a deal.

 

Fri, 08/03/2012 - 08:42 | Link to Comment Jason T
Jason T's picture

Germany, in the summer of 1922, had a 1% unemployment rate.   14 months later, millions were starving to death.

Fri, 08/03/2012 - 08:44 | Link to Comment GetZeeGold
GetZeeGold's picture

 

 

So in other words......don't worry about it.

 

Fri, 08/03/2012 - 09:20 | Link to Comment Sigep0612
Sigep0612's picture

Read the book "When Money Dies."    It's a history of Germany after WWI and the consequences of reparations demanded by Britain and France.  Germany had no choice but to print...print and print.   Inflation went nuts. Their total economy collapsed.  Germans were selling pianos for a loaf of bread.  Merkel is a student of German history...hence her hard line stance in bailing out other countries.

The parallels to the USA today to Germany 1923 are unbelieveably similar.   The unintended consequence in Germany was a guy named Hitler.    The US can look at a 163K number and say whopee we're back....but the reality is we have $16T in debt, adding $1.3T annually for the foreseeable future and a government that is disfunctional.  Debt has consequences.    

Fri, 08/03/2012 - 09:38 | Link to Comment Patriot Eke
Patriot Eke's picture

Yes, just add more debt!  That'll fix all of our problems... until it doesn't.  Most of us get it, but apparently at least a couple do not (down votes above).

Fri, 08/03/2012 - 08:39 | Link to Comment Silvergood
Silvergood's picture

The data is clearly fraudulent.  Politicians are using tricks to get re-elected!!

Fri, 08/03/2012 - 08:46 | Link to Comment Boilermaker
Boilermaker's picture

Wow, no shit?

Sat, 08/04/2012 - 05:40 | Link to Comment clearcoated
clearcoated's picture

na

Fri, 08/03/2012 - 08:49 | Link to Comment d edwards
d edwards's picture

How much was June's number revised DOWNWARD?

Fri, 08/03/2012 - 08:53 | Link to Comment LoneStarHog
LoneStarHog's picture

Follow This Link, Obozo Supporters, With Your Negs> http://www.zerohedge.com/news/seasonal-and-birth-death-adjustments-add-4...

Fri, 08/03/2012 - 08:53 | Link to Comment Peter Pan
Peter Pan's picture

Those figures did not happen on their own !!!

Fri, 08/03/2012 - 08:59 | Link to Comment Sofa King
Sofa King's picture

Amen.

 

They actually said "essentially unchanged at 8.3" as opposed to "rises to 8.3"

 

Talk about blatent misrepresentation of data.  Holy Crap.

Fri, 08/03/2012 - 12:01 | Link to Comment Renewable Life
Renewable Life's picture

I don't know why I'm shocked everyday, Bernanke, Lil Timmy, the White House, CNBC, The Fed Gov's, and Wall Street have all said EXACTLY what they were going to do, and their DOING IT!!!

They believe they are in the middle of a liquidity and credit crisis, and that deflation is the enemy of growth and their expanding debt pool, is nothing more then future growth returns on the economy!!! Most of us on here disagree violently with that premise........ However we shouldn't be surprised by anything that has happened up to now......they told us they would do it and they are doing it!!!!

Plus now we have entered August of a presidental election cycle, which is known in the shadows of the IMC as "the national security window" of the cycle!!! So with trillions of dollars at stack for the status quo and with millions of soldiers, spies, diplomate's, contractors, mercenaries, suppliers, and NATO operating in the field!!! It will become urgent that the stays quo remain!!! It happened in 2004 and it has begun for 2012!!!!!

Fri, 08/03/2012 - 08:32 | Link to Comment lizzy36
lizzy36's picture

Revisions -6000k in June.

Revisions will be negative in July.

Sell off into the close.

NO QE

Fri, 08/03/2012 - 08:35 | Link to Comment Hype Alert
Hype Alert's picture

No QE before the election.  The numbers will support that.  Somehow.

Fri, 08/03/2012 - 08:33 | Link to Comment slaughterer
slaughterer's picture

Now markets have to price in a probable real recovery, an Obama victory, and no QE3.  Hmmm.... Where does that take us, Mr. Bear?

Fri, 08/03/2012 - 08:43 | Link to Comment spastic_colon
spastic_colon's picture

like i said yesterday, the interpretation was only good news no matter the jobs number, we all know its rigged.

interpretation of good number = No QE but it must be a recovery

interpretation of a bad number = QE

QE will not happen, but does not matter as all news is again bullish, plus europe is up 2%+ today so US markets have no choice but to follow

Fri, 08/03/2012 - 08:33 | Link to Comment 101 years and c...
101 years and counting's picture

Again: +1,163,000 temp job, -1,000,000 full time jobs.

Fri, 08/03/2012 - 08:35 | Link to Comment GetZeeGold
GetZeeGold's picture

 

 

I love the smell of temp jobs in the morning.....smells like.....VICTORY!

 

Fri, 08/03/2012 - 09:03 | Link to Comment mendolover
mendolover's picture

Yes Mr. President.

Fri, 08/03/2012 - 09:30 | Link to Comment GetZeeGold
GetZeeGold's picture

 

 

Told you it would work......you doubted me?

 

Fri, 08/03/2012 - 08:35 | Link to Comment phalfa5
phalfa5's picture

Wish my wife could cook this good....

Fri, 08/03/2012 - 08:34 | Link to Comment rodocostarica
rodocostarica's picture

goodbye Romney too.

Fri, 08/03/2012 - 08:35 | Link to Comment ThunderingTurd
ThunderingTurd's picture

Romney is toast. 

Fri, 08/03/2012 - 08:36 | Link to Comment firstdivision
firstdivision's picture

Blame the Republican party for allowing such loonies to run for their parties nomination.  It was like they wanted to lose on purpose.  Almost like when McCain picked Pailn.

Fri, 08/03/2012 - 11:31 | Link to Comment DosZap
DosZap's picture

McCain fried his own ass when he signed TARP, and Palin gave him a 6% increase, and a chance to win.

McCain lost all by himself.

Fri, 08/03/2012 - 08:36 | Link to Comment GetZeeGold
GetZeeGold's picture

 

 

That's comrade Romney to you. Let's show some respect.

 

 

Fri, 08/03/2012 - 08:48 | Link to Comment bigwavedave
bigwavedave's picture

I think many more people will vote for MR once they see 12 years of his tax returns. All he has to do is release those and he should start climbing in the polls. I dont know why his team dont realise that.

Fri, 08/03/2012 - 08:57 | Link to Comment the not so migh...
the not so mighty maximiza's picture

I think he can't because he actully did do some tax avoidance/borderline tax cheating.

Fri, 08/03/2012 - 09:14 | Link to Comment sessinpo
sessinpo's picture

"I think he can't because he actully did do some tax avoidance/borderline tax cheating."

 

Maybe he did and maybe he didn't. However, the fact that you have this information is amazing. The entire democrat party is trying to get his information. Dude, you are sitting on a gold mine. But a little advice. Your goldmine of information turns to shit before the end of the year so I suggest you get off your ass and sell to the highest bidder.

Fri, 08/03/2012 - 10:39 | Link to Comment Bananamerican
Bananamerican's picture

Romney's a cunt.

Borack's a dick.

the country is screwed.

you, i surmise, are also a cunt....

 

from below; the wisdom of Peter Pan:

"Americans need to realise that their only choice is between a red condom and a blue condom. The dick is always the same."

Fri, 08/03/2012 - 08:34 | Link to Comment ThunderingTurd
ThunderingTurd's picture

Ben just pulled the plug on the printer and closed the ink cartridge.  Stand on your own you piece of garbage equity market.

Fri, 08/03/2012 - 08:44 | Link to Comment SheepDog-One
SheepDog-One's picture

It will take a couple days for hockey-helmeted equities to figure out theyre cut off.

Fri, 08/03/2012 - 08:54 | Link to Comment ThunderingTurd
ThunderingTurd's picture

I wonder if the printer makes that powering down electronic sound like the first PCs did back when I was a kid.  You know it kind of goes like "bwyoooooooooooo".

Fri, 08/03/2012 - 10:05 | Link to Comment resurger
resurger's picture

It's a wonderful morning till ...

Fri, 08/03/2012 - 08:34 | Link to Comment firstdivision
firstdivision's picture

Sell the rally.

 

Fri, 08/03/2012 - 08:38 | Link to Comment Haager
Haager's picture

Buy the dip, there is no sell, we face inflation.

Fri, 08/03/2012 - 08:49 | Link to Comment scatterbrains
scatterbrains's picture

spurs the visual of someone pointing their sailboat in the direction they want to go with no regard for the wind blowing in their face (inflation) As you say there is no sell, only an invisible wind blowing in the face of the bears.  That said, I still expect sub 1100 /es if only contrived by our puppet masters.

 

Fri, 08/03/2012 - 08:51 | Link to Comment bigwavedave
bigwavedave's picture

your obviously no sailor. LOL

Fri, 08/03/2012 - 08:59 | Link to Comment scatterbrains
scatterbrains's picture

My sailing experiance was learned on a sunfish and on the go in the face of a squall that blew over the island of Antiqua where only too late did I realize I needed to drop the sail or fear taking off like a kite never to be seen again... they had to launch the boats to find my ass and even then they waited until the storm blow over.  Yea I thought sailing was easy up until that day.

Fri, 08/03/2012 - 08:50 | Link to Comment firstdivision
firstdivision's picture

Actually we will face deflation.  All those over-inflated asset bubbles have yet to deflate to sustainability due to intervention.  As you can see, it is a losing battle to try to stem deflation when it is the natural thing that needs to occur in order to get back to sustainability.  That is why QEn = ln(n).

Fri, 08/03/2012 - 08:34 | Link to Comment Meesohaawnee
Meesohaawnee's picture

one more time. its all become so silly,.

Fri, 08/03/2012 - 08:35 | Link to Comment Disenchanted
Disenchanted's picture

 

 

Vaporjobs for a VaporEconomy...

Fri, 08/03/2012 - 08:35 | Link to Comment Blopper
Blopper's picture

If the economy recovers -> stock market up.

If economy doesn't recover -> QE3 -> stock market up.

If economy doesn't recover & no QE3 -> algos in action -> stock market up.

Fri, 08/03/2012 - 08:40 | Link to Comment a growing concern
a growing concern's picture

All your markets are belong to us.

Fri, 08/03/2012 - 08:43 | Link to Comment Need More Cowbell
Need More Cowbell's picture

If WHEN Europe implodes -> Stock market DOWN!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

Fri, 08/03/2012 - 08:45 | Link to Comment GetZeeGold
GetZeeGold's picture

 

 

More than likely.....yes.

 

Fri, 08/03/2012 - 10:09 | Link to Comment resurger
resurger's picture

Must hold!

Fri, 08/03/2012 - 08:36 | Link to Comment rokakoma
rokakoma's picture

Meanwhile the Houshold Survey Data shows a 200k DECREASE in employed.

Fri, 08/03/2012 - 08:37 | Link to Comment Haager
Haager's picture

Participation down, NFP up and - what? Unemployment up? Must have missed something.

Fri, 08/03/2012 - 08:37 | Link to Comment fonzannoon
fonzannoon's picture

What about the argument that we must have qe to fund the defecit? I guess that is out the window?

Fri, 08/03/2012 - 08:50 | Link to Comment Hype Alert
Hype Alert's picture

What?  Didn't you get the memo?

Fri, 08/03/2012 - 08:52 | Link to Comment fonzannoon
fonzannoon's picture

shit it was in my spam box.

Fri, 08/03/2012 - 08:56 | Link to Comment tinsmith
tinsmith's picture

"Yeah, didn't you get the memo?  We're putting cover sheets on ALL the TPS reports now."

Fri, 08/03/2012 - 08:37 | Link to Comment Everybodys All ...
Everybodys All American's picture

Another bogus bs number. Who didn't see that coming.

Fri, 08/03/2012 - 08:38 | Link to Comment Clueless Economist
Clueless Economist's picture

WTF I just heard LIESman say tourism jobs are way up, that is a good sign that more people than expected are being hired to run roller coasters and things.

Will someone punch this bald sweaty pig in the mouth?

Fri, 08/03/2012 - 08:58 | Link to Comment WoodMizer
WoodMizer's picture

Last month my sister came home from France with her two young boys. During her visit My family went to the outer banks in NC; nearly every retail worker I had contact with was from a former eastern block country brought in for the summer. Just five years ago these jobs were given to local teenagers and college students. When we went to Busch Gardens I talked to many workers and learned that they were part time. Most of the park employees were between 40 and sixty years old; that's odd because 3 years ago the park was staffed by persons under the age of 30. This recovery will result in a lost generation just like Japan.

Fri, 08/03/2012 - 08:38 | Link to Comment DavidC
DavidC's picture

One of the few figures to have come in better than expected over the last few weeks. Must be a recovery.

DavidC

Fri, 08/03/2012 - 08:38 | Link to Comment Dr. Engali
Dr. Engali's picture

I guess the ministry of truth decided it was better to deny Romney any ammo to attack with and forgo the QE. The next couple months should be interesting.

Fri, 08/03/2012 - 08:41 | Link to Comment fonzannoon
fonzannoon's picture

I think that you summed it up right there Dr. Engali. The good news is I just shut my TV off. No need to be beat over the head with decoupling and America is different and all that crap.

Fri, 08/03/2012 - 08:44 | Link to Comment Dr. Engali
Dr. Engali's picture

If something doesn't hit out of the blue I'm probably going to have to buy a ham sandwich. Kito is going to be insufferable. ;->

Fri, 08/03/2012 - 08:46 | Link to Comment fonzannoon
fonzannoon's picture

Get it over with. I saw him chasing you around on here yesterday. I think he factored these sandwiches into his August household budget.

Fri, 08/03/2012 - 08:41 | Link to Comment SheepDog-One
SheepDog-One's picture

LOL I cant believe all the clowns Im seeing falling into red/blue politics nonsense, its sad really.

Fri, 08/03/2012 - 09:01 | Link to Comment Peter Pan
Peter Pan's picture

Exactly. Americans need to realise that their only choice is between a red condom and a blue condom. The dick is always the same.

Fri, 08/03/2012 - 09:18 | Link to Comment Abraxas
Abraxas's picture

Some people can't help it. It makes them feel good if they believe THEY choose their leaders, or condoms.

Fri, 08/03/2012 - 11:40 | Link to Comment Renewable Life
Renewable Life's picture

Oh they did choose, between two people out of 300,000,000 that were chosen for them........so they could choose !!!!

Fri, 08/03/2012 - 08:41 | Link to Comment Peter K
Peter K's picture

How can anyone spin this figure as USD negative, especially against the EURO? ;)

Unbelievable.

Fri, 08/03/2012 - 08:41 | Link to Comment Hype Alert
Hype Alert's picture

Bloomberg news has mentioned several times the rise in the unemployment rate is because of people re-entering the job market.  Trying to make that sound positive for their fearless leader in the white house.  With the number of people falling off the 99 week plan, I'm not surprised at any increase.

 

Anyway most of the numbers look flat and that's not good but it keeps QEx on the back burner until after the election.

Fri, 08/03/2012 - 08:44 | Link to Comment lizzy36
lizzy36's picture

Actually according to household survey labor force shrunk by 150K.

But the whole math thing confuses many a financial journalist.

Fri, 08/03/2012 - 08:55 | Link to Comment Hype Alert
Hype Alert's picture

It's Bloomberg.  I don't think they even considered the math thing.  They are just trying to soften the blow and make their guy in the WH sound less bad.  To say the media is biased is an understatement.

Fri, 08/03/2012 - 08:43 | Link to Comment Monedas
Monedas's picture

I've been unemployed for 25 years .... is there a category for me ?           Monedas       1929        Comedy Jihad On Strike Against Socialism

Fri, 08/03/2012 - 08:42 | Link to Comment billwilson
billwilson's picture

Its the birth/death adjustment. Last year in July 5K, this year 52K !!!!!!! That is the whole difference in expectations. Unbelievable!!!!

Fri, 08/03/2012 - 08:43 | Link to Comment RobotTrader
RobotTrader's picture

Hilarious.  Stocks up again as the bears are beaten again.

 

Green Shoots all over again!

Fri, 08/03/2012 - 08:50 | Link to Comment slaughterer
slaughterer's picture

Technical traders will lift the SPX to 1400 today on bullish signals on various chart indicators (force, stoch, MACD etc). 

Syndicate SPY/QQQ/RUT/XLY call holders will blast all indices to the upper BB band by close today.

 

 

Fri, 08/03/2012 - 08:52 | Link to Comment Central Bankster
Central Bankster's picture

But unlike you, the bears don't go broke in a day because they expect idiots like you to never give up hope.  How is that CMG going for you?

Fri, 08/03/2012 - 09:19 | Link to Comment sessinpo
sessinpo's picture

Up again, even before the open? LOL

Mon, 08/06/2012 - 22:51 | Link to Comment MeelionDollerBogus
MeelionDollerBogus's picture

and then down they go again. Will you ever learn? This is called volatility, it isn't an upward price trend.

Fri, 08/03/2012 - 08:45 | Link to Comment RobotTrader
RobotTrader's picture

John "Big Mac" Williams at shadowstats must be scratching his head.

Turned into an utter fool once again.

Fri, 08/03/2012 - 08:50 | Link to Comment Disenchanted
Disenchanted's picture

 

 

No, the utter fools are the ones who are guzzling anything from the BLS like it came down from the moutaintop etched in stone.

 

Good luck with that.

Fri, 08/03/2012 - 09:28 | Link to Comment oddjob
oddjob's picture

Did he reco Netflix at $300+ like you?

Mon, 08/06/2012 - 22:50 | Link to Comment MeelionDollerBogus
MeelionDollerBogus's picture

No one is a fool for using real math and real data. Williams has not yet been wrong so I guess that makes you the fool.

Shadowstats is perhaps one of the single most accurate inflation reports - not a forecast but a report - ever to exist that your eyes have ever seen or ears have ever heard.

Fri, 08/03/2012 - 08:44 | Link to Comment Boilermaker
Boilermaker's picture

Look at the ES just SOAR like an eagle.

Everybody just can't wait to get them sum stox.

Fri, 08/03/2012 - 08:48 | Link to Comment SheepDog-One
SheepDog-One's picture

No free monies! Lets buy sum STAWKS!

Fri, 08/03/2012 - 08:49 | Link to Comment El Hosel
El Hosel's picture

Rally has nothing to do with the jobbed "Numbers", the market goes up everytime the Banksters get caught in a major fist fucking of the financial system. Knight alog gone bad and Libor deserve some credit, so does JPM's run away whale trade... You people just don't get it,  BTFFF.....  buy the fucking fist fuck.

Fri, 08/03/2012 - 08:45 | Link to Comment Snakeeyes
Snakeeyes's picture

And U6 rises to 15%. 

And a print of 163k when there are more than 12 million unemployed really sucks!

http://confoundedinterest.wordpress.com/2012/08/03/july-jobs-report-underemployment-rate-rises-to-15/

Fri, 08/03/2012 - 08:46 | Link to Comment RobotTrader
RobotTrader's picture

Gold getting hammered.

 

Bye Bye King World News, another horrific forecast

Fri, 08/03/2012 - 08:51 | Link to Comment Squid Vicious
Squid Vicious's picture

wtf are you talking about? down 10 cents

Fri, 08/03/2012 - 09:31 | Link to Comment GetZeeGold
GetZeeGold's picture

 

 

The rumors of my death have been greatly exaggerated - Mark Twain

 

Fri, 08/03/2012 - 08:53 | Link to Comment El Hosel
El Hosel's picture

"gold getting hammered".... as it sits at 1540 ( for several weeks), middle of the range since May 9

Fri, 08/03/2012 - 08:57 | Link to Comment paint it red ca...
paint it red call it hell's picture

U shouldn't gloat to hard, the impetus for the next QE is not coming through the front door.

it is the back door that has to be watched.  even then, the QE will likely take a less than straight forward, unexpected form

Fri, 08/03/2012 - 09:14 | Link to Comment MsCreant
MsCreant's picture

I'm thinking the same, maybe some kind of swaps/programs to bail out europe?

Fri, 08/03/2012 - 09:07 | Link to Comment Peter Pan
Peter Pan's picture

Gold is getting hammered eh? I hope you did better by buying facebook.

Fri, 08/03/2012 - 09:27 | Link to Comment GeezerGeek
GeezerGeek's picture

It appears that 'gold getting hammered' was a transitory event.

It also strikes me that at around the same time, on most days, gold suffers a kinetic manipulative event to the downside.

The sun goes up, the sun goes down. The same holds true for many investments, although FB seems to be an exception. Such is life. I suggest you get one.

Fri, 08/03/2012 - 09:57 | Link to Comment fuu
fuu's picture

+10.30 is getting hammered? Did the hyperinflation start while I was sleeping?

Fri, 08/03/2012 - 10:03 | Link to Comment resurger
resurger's picture

$1,600 is the dip, get used to it

Mon, 08/06/2012 - 22:48 | Link to Comment MeelionDollerBogus
MeelionDollerBogus's picture

idiot. http://flic.kr/p/cgMBw3

Gold is at discount prices. 2400/oz by 2013 - http://flic.kr/p/bNoznc

Fri, 08/03/2012 - 08:47 | Link to Comment sells2soon
sells2soon's picture

Don't call it a comeback!

http://www.youtube.com/watch?v=vimZj8HW0Kg

Fri, 08/03/2012 - 08:47 | Link to Comment I Am Not a Copp...
I Am Not a Copper Top's picture

STFR

Fri, 08/03/2012 - 08:48 | Link to Comment notadouche
notadouche's picture

Lewis:  "One day the machines are gonna to break.  Then the system is gonna break.  Then its gonna be all about survival"  

Ed:  "Well the systems been pretty good to me"  

A little later...

Toothless man to Ed:  "You sure gotta purty mouth.  You better get to prayin' real good"

A little from "Deliverance" 

Didn't know at the time the "Toothless Man" was a euphamisym for the gubmint.

 

Fri, 08/03/2012 - 09:00 | Link to Comment paint it red ca...
paint it red call it hell's picture

squeal like a pig, citizen...............

Fri, 08/03/2012 - 09:02 | Link to Comment notadouche
notadouche's picture

Tried to edit and spell correctly "euphemism" but was denied access.  Whatadouche I am.

Fri, 08/03/2012 - 08:48 | Link to Comment Meesohaawnee
Meesohaawnee's picture

propaanda market is in overdrive. did you really think you would get any true reaction.. participation is the only number that matters.. thats good for a +1 % rip. wake me up after this clown show election and then maybe well get to fundamentals. Remember the term "buy the rumor sell the news" seems like from the dinosaur age.

Fri, 08/03/2012 - 09:30 | Link to Comment GeezerGeek
GeezerGeek's picture

Given four more years of Obama wee may very well see the SNAP participation rate exceed the labor workforce participation rate.

Fri, 08/03/2012 - 08:49 | Link to Comment GlomarHabu
GlomarHabu's picture

 

 

BOGUS NUMBERS

Fri, 08/03/2012 - 08:50 | Link to Comment BeetleBailey
BeetleBailey's picture

Gooooood for my USD/JPY

BAaaaaaaad for my EUR/USD short, as the WTF's are taking over.....

Analysis:

Slap Steve Liesman - hard...over and over again until he bleeds. Have Austain Googlesbee and Androog Russ Sorgum in a gay 69, with Becky Quick at the ready with a flogger, and LAUGH at the numbers.........

Happy Hour - early!

 

Fri, 08/03/2012 - 08:50 | Link to Comment Jlmadyson
Jlmadyson's picture

One of the more awe inspiring prints I must say.

Fri, 08/03/2012 - 08:53 | Link to Comment razorthin
razorthin's picture

Convenient, orchestrated noise.  Afterall, it was needed after the Fed non-move.

Fri, 08/03/2012 - 09:01 | Link to Comment Shizzmoney
Shizzmoney's picture

The only thing we are on pace for is stagnating wages and job growth. 

Remember, the Neo-Con and Neo-Lib "Elites" want unemployment to stay at around 7.5-8.5%. 

This will be touted as the new normal (they'll argue it reflects population growth).  It allows them to pit each other against us, to keep down wages (gives them an excuse to preserve corporate profits to prop up the stock market; remember, China's workforce is their model), and to give them the leeway to hold the gun to the bunny's head to keep us in control.  They want the majority of the youth of Amercia to accept that in order to get a job that pays anywhere near a living wage, you must go into 50, 100, 200K in debt via college.

Obama's new slogan should be, "Spin", because that's just what it is.  They don't want security; the Neo-Liberal class believes that security leads to an unproductive workforce who will rebel and protest with more haste.  In bad times, those who protest they can always say, "It's "bad" for "everybody", accept your handout and STFU!"

Fri, 08/03/2012 - 08:53 | Link to Comment caimen garou
caimen garou's picture

of course there was an increase in jobs, sombody has to service the welfare crowd!

Fri, 08/03/2012 - 09:22 | Link to Comment Shizzmoney
Shizzmoney's picture

You are right; those Morton's steaks that the corporate welfare recipients recieve with lobbyist money, and our tax dollars, ain't gonna sear-n-serve themselves!

Fri, 08/03/2012 - 08:54 | Link to Comment billwilson
billwilson's picture

The highest Birth/death model add in history for July!!!!!

In the past July was ofetn a negative adjustment. Today +52K. More jobs from thin air.

Fri, 08/03/2012 - 08:55 | Link to Comment orangedrinkandchips
orangedrinkandchips's picture

THERE IS NO LIQUIDITY! PERIOD.

 

Look at the swings....30 pt swing in a broad index daily? That smacks of an illiquid market. But the stats have shown that since the shit hit the fan! Retail is gone, boomers are gone and hunkering down like the penguins at the pole in winter.

 

Not only that but yesterday, for example, around 3pm(EST) it hits 135.78 roughly 3:03p.....then it goes up EXACTLY 1 dollar, (10 S&P points). EXACT!

 

Way, Way, Way to exact for humans! "but the HFT provide liquidity!" - only when they want too! Turn off the switch and bids drop like it's hot....smell ya later!

 

 

Fri, 08/03/2012 - 08:57 | Link to Comment Manolito
Manolito's picture

If you can "fix" the Libor rate for years then anything could be "fixed"

Unemployment Rate 8.Rises To 3%  ????

I do not believ you baby

:O)

Fri, 08/03/2012 - 09:04 | Link to Comment scatterbrains
scatterbrains's picture

I wonder if last night was a good example of how the nyfed can open a 60,000+ short position in /ES and only drop the market 4 points and then  buy to close at 2:00am and managed a 12 point rise?  How many contracts did they have to spend to get that midnight pop?  I'm sure with the use of computers it took very little effort.

Fri, 08/03/2012 - 09:14 | Link to Comment SokPOTUS
SokPOTUS's picture

They loaded that new software program from KCG, backwards...

Fri, 08/03/2012 - 09:07 | Link to Comment mendolover
mendolover's picture

FIGHT ORGANIZED CRIME!  RE-ELECT NO ONE!

PS - The ethnic numbers are quite interesting.

Fri, 08/03/2012 - 09:08 | Link to Comment dcb
dcb's picture

no qe, price of oil drops, people have more to spend, economy gets better. it's the qe that's killing us.

Fri, 08/03/2012 - 09:24 | Link to Comment sessinpo
sessinpo's picture

Since you brought up oil. I've noticed that gasoline has spiked up 7% in the last week where I live. It was $3.50/g, now it is $3.80/g. Anyone else experiencing similar circumstances?

 

Fri, 08/03/2012 - 10:01 | Link to Comment fuu
fuu's picture

~5% here this week.

Fri, 08/03/2012 - 09:08 | Link to Comment orangegeek
orangegeek's picture

The Dow has been up and down like a toilet seat since June.   This is very corrective.  Markets should turn over very soon.  Governments are running out of "positive news" to report - which is what is usually found just before a collapse.

 

http://bullandbearmash.com/chart/dow-jones-industrial-average-daily-augu...

Fri, 08/03/2012 - 09:13 | Link to Comment GlomarHabu
GlomarHabu's picture

 

 

"Employment outside the farm sector grew by 163,000 workers in the month, the Labor Department said. This is the fastest pace of job growth since February"

the Labor Department said ...... the Labor Department said ....... the Labor Department said  ........ the Labor Department said

 

 

Fri, 08/03/2012 - 09:23 | Link to Comment Getting Old Sucks
Getting Old Sucks's picture

Given this years drought, I wonder how many farm hands were laid off?

Fri, 08/03/2012 - 09:17 | Link to Comment Peter Pan
Peter Pan's picture

It doesn't matter what the statistics say because the people can see for themselves what goes in and out of their pockets and their mouthes. You can put out a weather report for sunny weather but people can tell f it's raining if they bother to stick their heads out the window. I guess that might be the hard bit.

Fri, 08/03/2012 - 09:26 | Link to Comment trillion_dollar...
trillion_dollar_deficit's picture

I suppose the historical positive correlation to the Richmond Fed is now inverse.

Fri, 08/03/2012 - 09:30 | Link to Comment Shizzmoney
Shizzmoney's picture

Bill Hicks: "America, you are free (to do as we tell you)!  You are free (to do as we tell you)!  You are free (to do as we tell you)!"

Fri, 08/03/2012 - 09:40 | Link to Comment nah
nah's picture

how many points do you get for a safety bitchez

Fri, 08/03/2012 - 09:55 | Link to Comment khakuda
khakuda's picture

Sure, he'll QE.  I don't think Bernanke cares that he has no justification for printing.  He's bastardized the whole thing now totally.  QE was justified when people were taking money out of the banks and putting it in the mattresses in 2008.  Break glass in case of emergency.

Now, with a 1400 S&P, the lowest mortgage rates in history, $90 oil, skyrocketing corn and wheat prices and a 1.5% 10 year, he is still finding ways to justify more printing because things aren't improving fast enough for his tastes.  The arrogance that this one man thinks he knows better than the markets in setting prices is astounding, particularly in light of the fact that he hasn't seen ANY of the bubbles/misallocations coming before.

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