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Manufacturing Decoupling Comes To America As Chicago Breaks Away From Rest Of Country

Tyler Durden's picture


Economic activity decoupling is no longer a phenomenon between the developed and developing world. It is between the Chicago region and everywhere else. And because the Chicago PMI is supposed to be representative of the Manufacturing ISM, the market just loves (or rather loved, considering the 10 minute leak of the data) that the PMI soared from 56.5 to 60.4 on expectations of a decline to 55.0. The internals were all hot, hot, hot as follows: "Business Activity: "EMPLOYMENT expanded to highest level in 4 months; NEW ORDERS erased net declines accumulated since April; ORDER BACKLOGS remained in contraction at a 23-month low; SUPPLIER DELIVERIES approached neutral; while the buying policy was as follows: PRODUCTION MATERIEL moved to an 10-month high; CAPITAL EQUIPMENT lead times ended a 4-month uptrend." Yet as usual the amusing part, which is straight from the respondents was the following: "We are seeing unannounced and incredible inflation on one product, multiple parts, that we are purchasing out of Europe. At 400% increase we thought surely must have been a mistake. This is not related to $ exchange since we pay in Euros already. Supplier says they cannot absorb costs anymore." And that's why Houston, we have a problem.

Compare Chicago PMI and Philly Fed:

Full survey panel response:

1.    "We are seeing unannounced and incredible inflation on one product, multiple parts, that we are purchasing out of Europe. At 400% increase we thought surely must have been a mistake. This is not related to $ exchange since we pay in Euros already. Supplier says they cannot absorb costs anymore."

2.    "Continued export of manufacturing with simultaneous mandates to reduce global raw material inventories while maintaining high customer service levels globally is the greatest challenge. Locating new localized sources for raw goods in new manufacturing locations also lenghty and expensive. Quality consistency seems to be the biggest headache for new factories attempting to qualify local suppliers. US based goods often continue to be used at a higher cost thus impacting the bottom line but keeping customers coming back."

3.    "Talk of tax increases has many of my suppliers nervous and they now are reluctant to expand their business with either labor or capital investments."

4.    "Business continues strong & the backlog remains good."

5.    "We are finally adding personnel on a regular basis to help meet the increasing demand we are
facing. Our standards are lower in terms of experience but not quality of the employee."

6.    "We buy gold for our manufacturing process. Pricing is Ugly!!!!"

7.    "Concerns with double dip recession due to short term strategies for raw material and energy pricing (example: oil pricing has dropped significantly; however, prices at the pump remain elevated). This approach to pricing appears to be systemic resulting in eroding margins and lack of capital to fund growth for manufacturers in USA."

8.    "Our production is slammed right now, but our backlog is still low, basically everything we are getting in we are pushing out the door as fast as we can complete them."


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Fri, 09/30/2011 - 10:05 | 1725618 flyr1710
flyr1710's picture

i live 35 miles outside Philly...guess I live in the wrong country then; time for chicagoland to secede and start its own country where hope is abound

Fri, 09/30/2011 - 10:15 | 1725651 moldygoat
moldygoat's picture

I have this vision of the Manufacturing Manager for company X on the phone, his thumb in a vise, Rahm turning the screw, "things are hot, hot, hot, no recession here"


Fri, 09/30/2011 - 10:28 | 1725694 narapoiddyslexia
narapoiddyslexia's picture

Signs of a Crash Ahead, Not a Recession - See the link.

Here is a rational argument that the Dow can head down to 3,600.

Look out below!

The only fault in the reasoning is the assertion that interest rates have to go up and when they do, the wheels come off.

But Uncle Ben can keep rates down for a long time. He knows that if rates go up, the government debt goes to hell, AND the market goes to 3,600.

What fun!


Fri, 09/30/2011 - 11:21 | 1725892 LawsofPhysics
LawsofPhysics's picture

Exactly. either way, the market is doomed.

Sat, 10/01/2011 - 00:06 | 1728240 FlyPaper
FlyPaper's picture

Well, no.  In this world, deflation will heat up and Fed will turn on the press; and the Markets will inflate away, gold will go up; and they will then back off; deflationary forces will hit - and this will go on until it can't.  Then they'll really print - and that's when money moves into hard assets.  

So in one sense if they don't intervene - then yes; the market is doomed.  If they do, my guess is up and down on a downward path.

Fri, 09/30/2011 - 11:00 | 1725811 Don Birnam
Don Birnam's picture

Chicago PMI notwithstanding, Dr. Copper remains unconvinced.

Down >3% as of this writing, to 3.13...

Fri, 09/30/2011 - 22:00 | 1728073 max2205
max2205's picture

All signed David Axelrod @)

Fri, 09/30/2011 - 10:16 | 1725655 SGS
SGS's picture

Que Blythe, time to smash the metals before the goyim buy them.

Fri, 09/30/2011 - 10:38 | 1725736 tmosley
tmosley's picture

Blythe, like most bankers, is not jewish.  This meme is tiresome.  Yes, Jews are overrepresented in finance, but they are over represented in the medical and legal professions as well.  This overrepresentation is 100% attributable to the value their culture places on education, even so far as to make it a prerequisite at a young age for becoming a man.

Fri, 09/30/2011 - 11:30 | 1725898 gmrpeabody
gmrpeabody's picture

Well said, tmosely. If only other cultures in America set high standards for their kids, this "gimme something" mentality might finally go away. Until "bagging bithez" is no longer THE prerequisite for manhood, don't hold your breath.

Fri, 09/30/2011 - 14:30 | 1726809 trav7777
trav7777's picture

Stupid is as stupid __________________________

Even a moron like Forrest Gump got this one...

Fri, 09/30/2011 - 15:21 | 1727051 gmrpeabody
gmrpeabody's picture

trav.... you're as pleasant as ever.

Fri, 09/30/2011 - 11:33 | 1725952 Are you kidding
Are you kidding's picture

So why don't thet USE that education and drop the religious bullshit?

Fri, 09/30/2011 - 12:00 | 1726057 JimBowie1958
JimBowie1958's picture

Also, historically, European nations would restrict Jews to urban ghetos and forbid them from owning any land. So they learned how to do these urban professions quite well. Why not go with your strengths?

Jews are the bird in the mine' as far as civil liberties go. When a state initially becomes tyranical, the Jews are the easiest target to go after, and everyone should take this kind of thing as a bellweather for further diminishment in every respect of wealthy professionals of any ethnicity.

Besides, it's those goshdarned Episcopalians that run everything, not Jews! lol

It just seems to be such a knee jerk to blame the Jews.

Fri, 09/30/2011 - 12:59 | 1726352 Diogenes
Diogenes's picture

In Canada it's the Scotch Presbyterians who end up with all the money.

Fri, 09/30/2011 - 14:35 | 1726827 trav7777
trav7777's picture

you're an idiot in the you know WHY it was that jews were faced with restrictions such as these?

Oh, right...RAYCISM.  That's what the media and all the books by Simon & Schuster told you right?  And you figured it all out based on all of one data point, right? was because those societies ended up like THIS ONE.  A group of jews ran their fucking usury ponzis and the entire place went to SHIT with them owning everything.  It was the same during Weimar.  Hell, a couple of jewish brothers were on opposite sides of the table to negotiate Versailles.  Who do you suppose that benefitted?  Look at the Fed you see diversity there?  How about in media?  Oh, but no, we have bagholders to sit around and sing the praises of a group that is notoriously xenophobic and proclaim that they acquired a stranglehold on the two industries you morons sit around and HATE MOST (finance and MSM) and you cannot seem to connect any dots?  It was all just merit, right?

The way you goyim bootlickers will carry water for a group that sees you as cattle just boggles my mind.  Well, maybe it shouldn' ARE cattle.

Fri, 09/30/2011 - 12:04 | 1726072 g
g's picture

Well said tmosley, I grow weary and disgusted with the Jew bashing. As enlightened as most ZH posters are, there is this pervasive anti-semite attitude. Personally if parents took responsibility for their kids, by teaching them respect, hardwork ethic, and the importance of education, then perhaps more groups would be represented in the same professions as Jews. What happend to living in a world where merit and hardwork was rewarded. If you have a problem with who the doctors, bankers, lawyers are, go out and become one your self and stop whining like a little bitch. We live in a lame, '...i want, give it to me culture..." work hard, save the money, and then buy what you want.


There is going to be nashing of teeth the day the young in the world have to actually work for something.


Full disclosure: I am not Jewish, I am young, I owe no debt, I am not wealthy, I am an American, I work hard, and I instill good values in my kids, including not hating Jews or any other group of peple, the importance of hardwork, they do NOT get what they ask for, they get what they need, and if they work hard then maybe they get what they want, and the importance of education, etc.....

Fri, 09/30/2011 - 14:41 | 1726859 trav7777
trav7777's picture

you don't have ANY FUCKING CLUE what jewish kids are taught.  You know only what they TELL YOU on their wholly-owned media channels and wholly-owned publishing houses and with their wholly-owned propaganda arms like the NAACP, ADL, and so forth.

You really have no motherfucking clue.

Merit and hard work?  WTF?  There is MERIT on a nearly 100% jew Fed Board that is A FUCKING SCAM?  How many times do you idiots have to call the Fed an act of PURE EVIL but you cannot seem to identify HOW the Board running it has always been MONOETHNIC?

Can you dumbshits not spell nepotism?  Jews unapolagetically practice PURE RACISM, the distilled, unalloyed version of it and they do it right under your fucking noses and you step back and proclaim it MERIT.

If you were smart you would teach your kids what other kids are taught- look out ONLY for their own, practice ruthless racism, never hire a jew, never hire a black, unless they can serve your interests...IOW, be exactly what everyone ELSE is.  Instead, you bought into this fairy tale that racism was a purely white condition (+1 to whoever identifies the ethnicity of the homo marxist who came up with that meme).

Hard work and all of that means shit.  What matters is who you are and who you know and if you're a jew, your resume goes to the top of a jew hiring manager's pile.  The stories people can tell who've intersected this clan are legion.

Fri, 09/30/2011 - 17:15 | 1727508 g
g's picture

I never resort to this, but you do not even deserve a well reasoned rebuttal.




Dude everyone deserves respect. Including you. Racism is alive and well I see with you. The focus should be on individual rights not group rights, wait I am catching myself in a well reasoned thought here, which you do not deserve.


Did I say FUCK YOU.


What is your solution douche bag? Another mass genocide? Did you learn anything from history? Where is your logical argument, you always seem to rant, your claims are unsubstaniated. Prove to me they are all Jews on the FED board, and then convince me as to why that is a problem. I want to FED abolished, but as long as the FED is there I do not care what the ethnicity of the members is. I do not care who does what as long as its based on individual merits. Damn it, thinking again. I am ranting here, because I want to, but that is the purpose of this post. I post well thought out points of view consistently here on ZH, same as almost everyone else. Man it feels good to unleash on someone, I should do it more often.

Fri, 09/30/2011 - 18:36 | 1727724 tamboo
tamboo's picture

sorry but adolf was a jew (nee scheckelgruber) funded by joo bankers to stampede jews to israel.

the holohoax numbers dont add up and why do they go apeshit when congress brings up armenian holocaust memorial?

young turks=jews.

Dissecting the Holocaust

The Jewish Genocide of Armenian Christians


tens of millions of christians slaughtered in post revolutionary russia:

The Secret Holocaust -

Fri, 09/30/2011 - 12:11 | 1726110 nodhannum
nodhannum's picture

Right on tmosley!  This type of bigotry is not just reserved for jews but for other cultures that put a high value on education.  Take the Hakas in asia (also referred to as "the jews of asia).  It's education, education, education.  My father in-law has seven brothers in the US and Taiwan...all are MDs.  My father in-law went crazy because his daughter (my wife) only has a master degree from UNC Chapel Hill.  My brother in-law has a masters in Electrical Engineering (Georgia Tech) and was roundly critisized for not pursueing a Ph.D.  The same goes for a certain african MD, Ph.D. (from Oxford no less) from west africa that did a post doc in my lab here in the RTP. He came from a tribe where it was the same learn, learn, learn.  All these groups are periodically slaughtered because they are too successful.  Remember the periodic slaughter of Hakas in Indonesia since Sukarno?  Go get em tmosley!

Fri, 09/30/2011 - 14:46 | 1726895 trav7777
trav7777's picture

and the pinnacle of their success is the FRBNY, the entire banking industry, and the MSM.  Global usury and central banking are their highest achievements from all this merit.  You want to hang the entire FOMC...dumbass, they were just being "successful."  Who cares if their success impoverished millions or billions?  It's just whitey hate that rounded them up into ghettos for past implementations of this same clan industry.

Do you idiots even THINK before you speak?  It utterly baffles me that you can lionize their success when their most notable successes are outright scams that you hate.

Fri, 09/30/2011 - 14:29 | 1726806 trav7777
trav7777's picture

but white overrepresentation is a result of....that's right, RAYCISM

black overrepresentation in jail or poverty or low IQ or lousy SATs or anything else is...RAYCISM

but, JEW overrepresentation is based it...MERIT.  OF COURSE.  Couldn't be anything like nepotism or shit like that.

Only whitey is ever overrepresented as a result of something OTHER than merit.  You are the definition of a useful idiot goy

Fri, 09/30/2011 - 18:48 | 1727747 tamboo
tamboo's picture

100% totally merit based!.

The Jews behind the Internet


Fri, 09/30/2011 - 15:24 | 1727064 TK7936
TK7936's picture

Im sure Harvard is completly unbias when it comes to non jews.

Fri, 09/30/2011 - 11:58 | 1726038 bonddude
bonddude's picture

Chicago and Ill. are the eurobanks of the US. What about The PMI upside surprises? Chi & Mich.

Fri, 09/30/2011 - 10:09 | 1725624 Oh regional Indian
Oh regional Indian's picture

The WORLD IS FLAT amigos. Or so they insist. Monocultured, diversity free FLAT EARTH, Bees!


Axis of Evil

Fri, 09/30/2011 - 10:10 | 1725626 lapedochild
lapedochild's picture

Sorry to be OT but can someone see if you can login to BAC online banking? I haven't gotten my daily balance update email either

Fri, 09/30/2011 - 10:12 | 1725634 sabra1
sabra1's picture

they charge $5.00 to log in!

Fri, 09/30/2011 - 10:38 | 1725737 Byte Me
Byte Me's picture

they charge $5.00 to log in!

per millisecond!

Fri, 09/30/2011 - 10:40 | 1725742 Byte Me
Byte Me's picture

..and $5 to logoff..

Fri, 09/30/2011 - 10:11 | 1725630 long-shorty
long-shorty's picture

Chicago ISM is released to subscribers 3 minutes early, which is when the futures ramped. Not 10 min early.

Fri, 09/30/2011 - 10:22 | 1725674 long-shorty
long-shorty's picture

Just upped our net equity exposure to 40%, while transitioning more of our hedge from short small cap to long volatility in case I am wrong.

Equity risk premium is the highest it has been in the last 55 years+. L/S equity as a class is already nearly market neutral, and global macro is net slightly short. All of the smart money has already pulled back here, as has the retail investor (massive mutual fund outflows for weeks). The only thing to fear at this point is counterpary failures and forced selling if prices fall further (admittedly, quite possible given low mutual find cash levels). Cramer is bearish as hell. Time to make a little bit of a stand in the most attractive equity names.

Fri, 09/30/2011 - 10:11 | 1725631 GeneMarchbanks
GeneMarchbanks's picture

Manufacturing is sooo 1950s.

Fri, 09/30/2011 - 10:35 | 1725725 DaveyJones
DaveyJones's picture

like our electrical grid, energy policy, and 100 other things.

Fri, 09/30/2011 - 10:12 | 1725632 Tsar Pointless
Tsar Pointless's picture

Not credible. Simply not believable.

That and the "Consumer Confidence" report released by U of Michigan.

As fabricated as the story of the sinking of the USS Maine by the Spanish.

Fri, 09/30/2011 - 10:12 | 1725635 pupton
pupton's picture

Don't despair, soon we'll all have "green jobs" building solar panels for King Barack.

Fri, 09/30/2011 - 10:15 | 1725650 Archimedes
Archimedes's picture

Right! The Dept. of Energy just gave 1 Billion to Solar Reserve a company run by none other than the brother-in-law of ....wait for it.......Nancy Pelosi! Americans are so stupid.

Fri, 09/30/2011 - 10:24 | 1725679 pupton
pupton's picture

Well...some Americans are stupid.  But we're not blind to what has been going on.  I'll give them (such as my wife's family) a chance to redeem themselves and vote Barack Usurpa out of office in 2012.  After that, yes, any white person who votes for him is stupid in my book. 

I guess I give the brown people a pass, because either I expect less from them (stupid) or I understand the pressure and groupthink they face, I'm not sure which it is...maybe both.  Call me racist if you that's how you define it.  I don't care, maybe I am racist.  The word has lost most of it's meaning these days.

Fri, 09/30/2011 - 10:30 | 1725700 donsluck
donsluck's picture

By definition, assuming someone is stupid because of the color of their skin is racism. Racism is a form of blindness. Where do you stand on the brown scale? In the winter? In the summer?

Fri, 09/30/2011 - 10:37 | 1725728 DaveyJones
DaveyJones's picture

dummer in the summer

Fri, 09/30/2011 - 10:50 | 1725778 pupton
pupton's picture

I am white Sherlock.  

But while we are trying to define the word "racist", (which by many people's definitions I admit I may well be) no, it is not "blindness" to recognize that 95% or more of the negros in this country voted for Obama in 2008.  Blindness, no.  Observant, yes. 

Again, I am not sure if 95% of one race voting for someone who happens to be of their race makes them a) stupid, b) racist c) subject to/victims of massive groupthink.  It could be any or all of those three, but I KNOW "C)" is one factor.  My MD and my chiropractor are both black, and they had a problem with Obama medling with health care, but they were unable to talk about it with their black friends and family because they would be slapped with the "Uncle Tom" label. 

So, I don't fault brown/black/negro/colored people for ending up voting the way they do, but I don't get the appeal for white people in 2012.  Fine, 2008, you exercised your white guilt and felt good about yourself and your country for a few weeks.  But let's grow up and make responsible choices people.

Oh, and if I'm racist I should probably get a white doctor, huh?

Fri, 09/30/2011 - 11:13 | 1725814 DaveyJones
DaveyJones's picture

would wager that most whites who voted for Obama did not vote out of "white guilt" they were simply conned. Would also wager that many votes were more anti prior admin votes than pro democrat / pro obama votes. Do you honestly think this place is going to get any better with either party in power? McCain was intimately involved with the Savings and Loan debacle and would have also kept the wars going full steam. The parties are simply global oligarch puppets and this place along with capitalism and the constitution have no chance until both are destroyed and the law is enforced.    

Fri, 09/30/2011 - 11:29 | 1725930 pupton
pupton's picture

I can't follow all the way down that rabbit hole, but I will agree that McCain was a shitty candidate. 

I was turned away from the GOP during the Bush administration, but haven't found any other viable option to vote for in most elections.  I voted for the Constitution Party guy when possible, but let's be frank, yes the two parties own the game.  If you want real change you have to take the game board and flip it over and rip it up.  The two party system isn't required by the Constitution, fuck it.  We should have at least three or four parties with a runoff election so that people can vote their conscience in the first round and then if there is no candidate with greater than 50% you have a second round of voting with just the top two candidates.  That would make for much more interesting elections results. 

What we have now is Libertarian candidates having to run as Reps because they know they have no chance as Independents.  But the GOP machinery rejects them, even if they have popular ideas.  (Yes, I'm talking about Ron Paul).

I guess I agree with you about 85% of the way...

Fri, 09/30/2011 - 11:41 | 1725984 earnulf
earnulf's picture

I admit that I voted for Obama in 08.   McCain was a continuation of the Bush Administration and would have put a woman who quits on everything a heartbeat (literally) away from being the President.    After Bush Sr. and Bush Jr, and the destruction to the economy through takeovers and buyouts, I was hoping that Obama would be good to his word.    I have since been seriously abused of that notion.    Neither party will change the general direction that we are headed, but they will sure jump overboard when the ship goes down. (after locking the rest of us in the steerage).

Ron Paul is worthy of my next vote, but doesn't stand a chance of being the Republican nominee.   The rest of the political field is worthless, kinda like my dollar bill.

We need to begin working at the local level for sustainability.    Accountability will not come before the crash and there will be all kinds of finger pointing after the fact.    We have to prepare for ourselves and not expect anyone else to help (they will be trying to keep thier own heads above water).     If we don't take care of ourselves, no one will.    Prepare yourself for the worst, hope for the best.

Fri, 09/30/2011 - 11:33 | 1725949 AnAnonymous
AnAnonymous's picture

Oh, and if I'm racist I should probably get a white doctor, huh?

Why so?

My MD and my chiropractor are both black, and they had a problem with Obama medling with health care, but they were unable to talk about it with their black friends and family because they would be slapped with the "Uncle Tom" label.

This part made laugh more than the others.

Again US citizens playing the card of ignorance.

Are they really ignorant they have established the commercial relationship as the standard relationship between subjects of the US world order?

Commercial relationship leads salers to sell what the buyers want to hear, in order to avoid alienating their customers.

In the same department, it reminds me of a US citizen who thought her vet loved animals. She really wanted that their vet loved animals.
So, one day, I exposed her vet as non being the pet loving vet, the character that the vet used to sale in order to keep that US citizen happy.

It is commercial relationship. These US citizens physicians have smelled the expectation and are answering to it in a way that does not hurt their customers.

So what? US citizens ignore the standard relationship they have forced on the subjects of the US world order? Of course not. But they want to depict it as having other value than a seller giving what a customer expects.

To the next customer, those two negroes would have served they supported Obama if they have felt the customer expected that answer.

Good piece of news though for this US citizen: his racism is so obvious, exhibited like a badge of honour, that other US citizens can see it in advance.

Isnt life wonderful in this US world order?

Fri, 09/30/2011 - 13:03 | 1726376 Diogenes
Diogenes's picture

After 8 years of Bush a stuffed dummy could have beat the Republicans in 08.

Nobody voted for Obama, they voted against Bush. Why is this so hard to remember.

Fri, 09/30/2011 - 14:52 | 1726925 trav7777
trav7777's picture

listen, surely watched all those people crying and fainting and shit when the MESSIAH HISSELF was speaking and proclamating and all of that?

You REALLY believe that people STILL have their fuckin Obama stickers on their volvos bc it was about Busch?  Get your head out

Fri, 09/30/2011 - 14:47 | 1726907 trav7777
trav7777's picture

fuck off

go play your race card in Detroit or somewhere

Fri, 09/30/2011 - 11:55 | 1726035 bruinjoe93
bruinjoe93's picture


Here is another fact.  Most banking executives are white.  Pick any big bank. 

Fri, 09/30/2011 - 12:46 | 1726291 HarryHaller
HarryHaller's picture

... and all banking executives are rich as well.  It all comes down to the invisibility of the dominant culture.  I'm sure Blankfein and Daimon are all saying 'What conspiracy?' but for those of us who aren't a part of that uber-wealthy .01% of the population we're painfully aware of it.

Fri, 09/30/2011 - 14:53 | 1726929 trav7777
trav7777's picture

funny how you mention two semites in response to a claim that the majority of banking execs are white

Fri, 09/30/2011 - 14:50 | 1726914 trav7777
trav7777's picture

the definition of racist is a white person.

Think I am lying?  Look it the fuck up.  Research who came up with the very WORD and what he defined it as.  Then look at his friends and those who took off running with that word and made it into an institution.

Oh...but there's MERIT and they were just successful and all of that shit.  Anyone who says otherwise is a RAYCIS.

Never apologize for being what others say is racist.  They all are.  Especially the group that brought us that word.

Fri, 09/30/2011 - 10:27 | 1725692 donsluck
donsluck's picture

Although I can't support Fascism, I'd rather see it in solar power than used for killing and torturing ala Bush and his Blackwater and Halliburton.

Fri, 09/30/2011 - 10:30 | 1725701 SheepDog-One
SheepDog-One's picture

Or the 50% ramp-up in torturing and killing since Bush?

Fri, 09/30/2011 - 10:44 | 1725738 DaveyJones
DaveyJones's picture

moral now

cause it's done by drones 

and blessed by press.

Fri, 09/30/2011 - 10:50 | 1725777 Dapper Dan
Dapper Dan's picture

Good article on drones, from Ralph Nader,

September 27, 2011
 37 War By "Lethal Autonomy" As the Drone Flies by RALPH NADER

The fast developing predator drone technology, officially called unmanned aerial vehicles or UAVs, is becoming so dominant and so beyond any restraining framework of law or ethics, that its use by the U.S. government around the world may invite a horrific blowback.

Fri, 09/30/2011 - 11:18 | 1725870 DaveyJones
DaveyJones's picture

yup, our government uses drones so they can call it something other than war and get around the rules ( and congressional approval). Funny thing, tastes like war to the kid with his leg blown off.

Fri, 09/30/2011 - 14:54 | 1726935 trav7777
trav7777's picture

pas de sweat; they have legions of ready-made idiots that will blame the inevitable blowback on the USG having masterminded another "false flag."

Fri, 09/30/2011 - 11:22 | 1725880 Moe Howard
Moe Howard's picture

Wow. You really are a drone, aren't you?

For your information, in 2009 Obama signed an "assasination order" on an American Citizen by birth who has never been convicted of any crime in a court of law. Yesterday he was executed by drone. I guess you are ok with real Facisim and Dictators, as long as they are from your team, just not "red state" ones.

Fri, 09/30/2011 - 10:27 | 1725693 Tsar Pointless
Tsar Pointless's picture

You must have a lever up your ass, Archimedes, and it has penetrated your brain.

Amerikkkans ARE stupid, but this isn't a reason.

Ronald Pelosi joined PCG this past spring, whereas the firm first invested in SolarReserve three years ago. More importantly, Ronald Pelosi does not have a financial interest in the fund that houses SolarReserve. If the fund generates big profits on its investment, Pelosi gets nothing. If the fund's investment gets wiped out, Pelosi's bank account won't take a hit.

Update: As of 4:20pm, Drudge has pulled the story entirely from his site.

Fri, 09/30/2011 - 10:30 | 1725699 Race Car Driver
Race Car Driver's picture



Pelosi brother-in-law not tied to solar project


Drudge Report, the widely read conservative online aggregator, picked up the story and soon conservative media circles were ablaze with what they thought was the next Solyndra - the failed Fremont solar firm that received a $528 million federal loan.

The story disappeared from the Drudge site by Thursday afternoon.

Ronald Pelosi joined Pacific Corporate Group in April, roughly three years after it had invested in SolarReserve, a company official confirmed Thursday. The official said Ronald Pelosi doesn't stand to profit or lose from the firm's stake in SolarReserve because he doesn't have an interest in the fund that made that investment...."


Generally, where there's smoke....



Fri, 09/30/2011 - 10:13 | 1725637 Jason T
Jason T's picture

debasement ..hyperinflationary policy to save banks.

ron paul 2012

Fri, 09/30/2011 - 10:13 | 1725638 dukeystick
dukeystick's picture

Sounds like its just more Chicago-Style economics...

Fri, 09/30/2011 - 10:13 | 1725639 High Plains Drifter
High Plains Drifter's picture

jack bogle of vanguard says............80 percent stocks and 20 percent bonds and hang out to your hats........HA HA HA HA HA HA ...

these stock pickers cannot bring themselves to admit that it is is done.  the obscure trader who was on bbc the other day is right. many, and i do mean, many will be totally wiped out...........totally..

Fri, 09/30/2011 - 10:15 | 1725649 Vic Vinegar
Vic Vinegar's picture

I don't get it.  Are you pre-partying for SlutWalk NYC or not?

Fri, 09/30/2011 - 10:17 | 1725658 Archimedes
Archimedes's picture

Well in mid July NFLX was a $291 dollar stock. Now it is at $109. That is almost a 66% retreat. I don't care what anyone says, many, many hedge funds and people got crushed on this one stock.

Fri, 09/30/2011 - 10:21 | 1725672 WonderDawg
WonderDawg's picture

Wish I'd have bought some puts, kicking myself right now. CMG is looking like it might be topping or has topped. Might be time to roll the dice on them.

Fri, 09/30/2011 - 11:24 | 1725911 Al Huxley
Al Huxley's picture

LULU too.

Fri, 09/30/2011 - 11:51 | 1726022 WonderDawg
WonderDawg's picture

Yep, I'm keeping my eye on them as well.

Fri, 09/30/2011 - 10:25 | 1725685 High Plains Drifter
High Plains Drifter's picture

it seems that whenever cramer starts pumping some stock if you go against his call then somehow you do pretty good. hmmmm

Fri, 09/30/2011 - 10:13 | 1725640 dasein211
dasein211's picture

It could be gettin while the gettin is good. I know im about to take a 31% paycut starting next week and im paying off bills and stocking up while i still have the money. Could be a similar response here.

Fri, 09/30/2011 - 10:14 | 1725643 dasein211
dasein211's picture

It could be gettin while the gettin is good. I know im about to take a 31% paycut starting next week and im paying off bills and stocking up while i still have the money. Could be a similar response here.

Fri, 09/30/2011 - 10:14 | 1725645 rajc
rajc's picture

bac site is down

wooohooo seems like they are out of moeny

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Fri, 09/30/2011 - 10:14 | 1725647 dasein211
dasein211's picture

It could be gettin while the gettin is good. I know im about to take a 31% paycut starting next week and im paying off bills and stocking up while i still have the money. Could be a similar response here.

Fri, 09/30/2011 - 10:26 | 1725690 pupton
pupton's picture

Very nice triple post...

Fri, 09/30/2011 - 11:04 | 1725824 Debt-Penitent
Debt-Penitent's picture

I believe it may be the slightly confusing "Save" button instead of a clearer "Post" button with a reminder that there may be a posting lag time.


Fri, 09/30/2011 - 10:14 | 1725648 papaswamp
papaswamp's picture

Govt loans to automakers resulted in purchases, upgrades etc.. Next month will be the down leg. 

Fri, 09/30/2011 - 10:21 | 1725667 FMR Bankster
FMR Bankster's picture

Suspect it's auto related as well. That's the big one off in this district. And remember this is a diffusion index.

Fri, 09/30/2011 - 10:15 | 1725652 monopoly
monopoly's picture

Why are you banking with BAC. That makes 0 sense.

Fri, 09/30/2011 - 10:30 | 1725704 Ruffcut
Ruffcut's picture

Banking with any bank makes zero cents, too.

Chicago: shit mayor, no handguns, flying carp. Something is really starting to smell in the windy city.

Fri, 09/30/2011 - 10:16 | 1725654 toady
toady's picture

The inflation v deflation fight is interesting again.

I was going to say deflation had a clear lead, but that 400% inflation, wow! Thats a real haymaker!

Fri, 09/30/2011 - 10:33 | 1725710 SheepDog-One
SheepDog-One's picture

Inflation in things you need to buy, deflation in things you have and are looking to sell.

Fri, 09/30/2011 - 10:44 | 1725752 Smiddywesson
Smiddywesson's picture

Yes, and currency destruction to end the tug-o-war between inflation and deflation. 

Fri, 09/30/2011 - 10:17 | 1725659 cabtrom
cabtrom's picture

What is Washington buying from them?

Fri, 09/30/2011 - 12:20 | 1726166 Falcon15
Falcon15's picture

$100 hammers, $600 toilet seats, $3,000 coffee makers. You know. The ususal.

Fri, 09/30/2011 - 21:57 | 1728068 ZeroAffect
ZeroAffect's picture

Hey, they gotta obtain funding for all the black ops DARPA funds and do it without having to make disclosures...just sayin'

Fri, 09/30/2011 - 10:18 | 1725660 Outlaw Of The W...
Outlaw Of The Wasteland's picture

In soviet amerikwa, you no trade stock market, stock market trades against YOU (net open interest 24/7)

Fri, 09/30/2011 - 10:35 | 1725662 Archimedes
Archimedes's picture

Chigaco is booming! Just look at GM! A car company who's stock as been cut in half, has 800K vehicles on dealer lots yet still has the assembly line humming!

Fri, 09/30/2011 - 10:21 | 1725669 kito
kito's picture

i just dont understand these numbers, and nobody has any explanation as to how there can be this much of a jump. many of the comments coming out of the survey were not nearly as bad as i anticipated. i guess for now stagflation is the soup de jour

Fri, 09/30/2011 - 10:34 | 1725718 SheepDog-One
SheepDog-One's picture

Rahm Emanuel runs the place, I wouldnt trust 1 word out of there.

Fri, 09/30/2011 - 10:48 | 1725768 Smiddywesson
Smiddywesson's picture

i just dont understand these numbers, and nobody has any explanation as to how there can be this much of a jump

You lie the most when you need to deceive the most:

Q:  Have you been drinking?

A:  No officer, not a drop.

It's the last day of the quarter.  That's why the numbers are so outrageous.  It's not the lie that surprises me, it's that the market ignored the news.  That says it all about what next week will look like.

Fri, 09/30/2011 - 10:21 | 1725670 Mister Ponzi
Mister Ponzi's picture

@TD: As far as I know the calculation of the Chicago PMI uses a different seasonal adjustment procedure compared to the rest of the relevant economic data which explains why a) there are big differences between Chicago and other PMI and b) the Chicago PMI is a completely worthless statistic.

Fri, 09/30/2011 - 10:21 | 1725671 dasein211
dasein211's picture

Sorry about the multipl posts. Tyler feel free to delete extras!

Fri, 09/30/2011 - 10:22 | 1725676 sabra1
sabra1's picture

thinkorswim is down to! soon, markets will collapse, and nobody will be able to get out of their positions!

Fri, 09/30/2011 - 10:27 | 1725691 junkyardjack
junkyardjack's picture

Its a good way to stop selling, shut off everyone from the market.  Market is going back towards the green

Fri, 09/30/2011 - 10:52 | 1725785 Smiddywesson
Smiddywesson's picture

I wouldn't put it past them to pull those shennagans.  They've pulled the "technical difficulties" ploy overseas, and their willingness to play games is clear from how they use margin hikes and have changed the circuit breakers.  Anyone holding overnight is at risk.

Fri, 09/30/2011 - 10:23 | 1725677 ZeroPoint
ZeroPoint's picture

And why hasn't this been moved to China yet?


Fri, 09/30/2011 - 10:23 | 1725678 adr
adr's picture

Well when there is about 1 factory in the Chicago area it is pretty easy to goose statistics.

The state of manufacturing in America is so bad being slammed is getting an order for 4 parts instead of 3.

I wonder how much of this manufacturing is stimulus based. Bet it's good for at least 250 Dow points in an hour though. Does anyone think 5% of the real economy is going to pul us out of the depression. It is such a joke.

Fri, 09/30/2011 - 11:13 | 1725854 Village Smithy
Village Smithy's picture

The Mid-west has always been portrayed as behind the times, simple and quaint. I hope this read is for real and the last bastion of Made in America manufacturing starts to show the rest of the country's "Globalized" CEOs how to rock it.

Fri, 09/30/2011 - 10:26 | 1725687 High Plains Drifter
High Plains Drifter's picture

we should all be very quiet now. the oracle is speaking.........

Fri, 09/30/2011 - 10:29 | 1725697 Outlaw Of The W...
Outlaw Of The Wasteland's picture

hope the fake bitch is in the ground before Christmas.

Fri, 09/30/2011 - 11:04 | 1725821 Silver Dreamer
Silver Dreamer's picture

My Christmas presents have already been bought (food, supplies, ammo, HT radio, etc.)

Fri, 09/30/2011 - 10:33 | 1725713 Outlaw Of The W...
Outlaw Of The Wasteland's picture

SO SICK of merissa ree's pear shaped body, broken-toothed moonface, and jew of asia attitude.

Fri, 09/30/2011 - 10:50 | 1725771 Vic Vinegar
Vic Vinegar's picture

Holy cow - three greens to zero reds as of 10:45 EST.  Tough crowd!

Of the three things you referenced, what bothers you the most?  And if you had to categorize one of these things as "not so bad", which would it be?  Inquiring minds want to know.

Fri, 09/30/2011 - 10:58 | 1725805 Outlaw Of The W...
Outlaw Of The Wasteland's picture

The whole package is FOUL. 

the jude law doppleganger homo dovetails nicely to insult every normal man unfortunate enough to not have Fox Business or Bloomberg.

Fri, 09/30/2011 - 10:32 | 1725708 MFL8240
MFL8240's picture


Fri, 09/30/2011 - 10:33 | 1725714 Badabing
Badabing's picture

Well today is my last day at my current position with my job in NYC. Working for one of the big film labs is a thing of the past.

The silver used in the film process is costly, the new digital formats, cameras, projectors and so on can deliver the same quality if not better than film and the price is now more competitive then ever. A big name lab like the one I work/worked for has no choice but to roll with the times , in this case getting involved in the post production end of the biz creating a surplus of post houses.  We merged with another post house and I’m one of the extra people. Sure redundancy is a good idea but not in this economy. I guess I can thank our banker friends for that.

I realize it’s not the end of the world well not at this moment anyway.

I will be added along with about 70 other employees to the unemployment lines. After updating my résumé and sending it out this weekend I WILL OCCUPY WALL STREET!!! Look for me ill be the old guy with the sign that says “ I just lost my job so I came here”  


Give me liberty or give me death these words will never die.

We have just begun to fight is a famous battle cry.

But what I really want to know is written anywhere.

How do the banksters feel when they stick you in the rear?   

Fri, 09/30/2011 - 10:46 | 1725759 Josh Randall
Josh Randall's picture

Hang Tough - give 'em hell down there at the Occupy party

Fri, 09/30/2011 - 11:16 | 1725862 JP McManus
JP McManus's picture

If you see an attention-starved celebrity, please deliver a vicious beat-down. 


Fri, 09/30/2011 - 10:34 | 1725723 nobusiness
nobusiness's picture

Does anyone believe anything that comes out of Chicago? 

Fri, 09/30/2011 - 10:36 | 1725726 brown_hornet
brown_hornet's picture

Must be the Illinois income tax hike taking effect.

Fri, 09/30/2011 - 10:37 | 1725730 monopoly
monopoly's picture

It really feels good to be all cash. Rarely do that but these numbers I just cannot believe has any relevance and all the shit hitting the fan. Then, you short and the head inmate pulls a dead rabbit out of his hat and the market jumps 300+. Cannot handle the volatility. Getting too old for this shit.

Anyone short NFLX at 300. lol...0

Fri, 09/30/2011 - 10:46 | 1725761 ClintBeastwood
ClintBeastwood's picture

Does anyone know what the product that's 400% more expensive is?  I got $10 that it has rare-earths in it. 

Fri, 09/30/2011 - 11:09 | 1725842 koot
koot's picture

European products are highly subsidized which is unsustainable.  "Austerity" is resulting in re-pricing due to reduction in subsidies.  This jump in prices is a result of sovereign debt which can no longer be funded.  It is inflation caused by policy inflection where governments are cracking.

Fri, 09/30/2011 - 11:12 | 1725852 RobotTrader
RobotTrader's picture

No inflation whatsoever in Los Angeles.

Housing prices still going down.

Car prices still declining.

And gasoline prices are in total freefall.

Fri, 09/30/2011 - 11:44 | 1725996 Ignorance is bliss
Ignorance is bliss's picture

how about Taxes? Are they going down?

Fri, 09/30/2011 - 17:53 | 1727640 -Michelle-
-Michelle-'s picture

We got our property tax estimate for the year.  Good news is that we'll pay about $200 less than last year.  Bad news is that our property value declined so much that the increase in the rate was offset by the decline in value, resulting in the lower level.

Or is that good news?  I'm confused.  It's like the extra money we spent adding insulation and attic fans in order to decrease our electric bill... only to have the bill remain the same when they raised the rates.

Can't win for losing.

Fri, 09/30/2011 - 11:56 | 1726037 markar
markar's picture

cut the BS robo. Gas prices on premium in S Ca have been up & down 5- 10 cents a gallon for months, week after week. I know. I buy it. Freefall my ass.

Fri, 09/30/2011 - 11:58 | 1726047 Smiddywesson
Smiddywesson's picture

No inflation whatsoever in Los Angeles.

Housing prices still going down.

Car prices still declining.

And gasoline prices are in total freefall.


Robo, You left out the balance of your trading account

Fri, 09/30/2011 - 13:46 | 1726596 PulauHantu29
PulauHantu29's picture

RE in SoCal in free fall is true. Read Dr Housing Bubble.

It's called Biflation...RE and other assets you own will continue to plunge while stuff you need like food and energy will rise with inflation.

Check out Wiki on Biflation and read Dr Housing Bubble for some good stuff.

Fri, 09/30/2011 - 11:55 | 1726028 mayhem_korner
mayhem_korner's picture



The stat that is most influencing these prints: the date.

If it was October 3, reality would be printed and the S&P would be pushin' 1075...

Fri, 09/30/2011 - 12:01 | 1726058 Smiddywesson
Smiddywesson's picture

Absolutely.  We see what's really going on next week.  This week is about tidying up the quarter and putting out the lights.

Fri, 09/30/2011 - 12:04 | 1726070 Georgesblog
Georgesblog's picture

This reads like a little boy about to be punished for breaking a window. It's a list of mitigating circumstances that "made him do it". Business is just trying to swim upstream , in a flash flood. It all traces back to starting behind the debt curve in the currencies. We should expect to see vendor inflation eating manufacturer revenues.

Fri, 09/30/2011 - 13:24 | 1726501 ThirdCoastSurfer
ThirdCoastSurfer's picture

Just as the Government is packed with Goldman insiders, so to is Chicago machine politics now packed with Obama & Emanuel acolytes. 

To the victor goes the spoils and,  when you compare the current month to the last 4 without considering the ramp up needed for the holiday season, you are setting yourself up for the multi-layered "fall". 

Fri, 09/30/2011 - 13:42 | 1726580 PulauHantu29
PulauHantu29's picture

"According to a recent study from the BlackRock Investment Institute, the ratio of household debt to personal income (wages and salaries only) remains at a staggering 154 percent, which is only 7.5 percentage points lower than in pre-recession peak"

"Consumer spending, once the driving force of the U.S. economy, is likely to remain stagnant for years as households struggle to cut debt and build up savings, economists say."


Fri, 09/30/2011 - 14:19 | 1726756 Strike Back
Strike Back's picture

Unprecedented inflation for European goods?  Hmmmm.

What goes around, comes around.  Krugman and his no inflation crowd can eat a dick.

Fri, 09/30/2011 - 15:05 | 1726985 bid the soldier...
bid the soldiers shoot's picture

You want honest numbers and you don't want this.  Well, you can't have your cake etc.

"You keep going your way

I'll keep going mine

River keep away from my door.

Don't come up any higher

I'm so alone

Leave my bed and fire

That's all I own

River keep away from my door."

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