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NFP Huge Miss At 69,000 On Expectations Of 150,000; Unemployment Rate 8.2%

Tyler Durden's picture


And we have NEW QE liftoff, just as we predicted yesterday: "That the ADP would miss today's expectations of 150K is no surprise: after all as we have been explaining for a while, the only way the Fed will have a green light to proceed with NEW QE if it so chooses at the June 19-20 meeting, is if the economic data suddenly turn horrendous. Which means tomorrow's NFP data is make or break: in fact, as far as markets are concerned, the worse the better - should a -1,000,000 NFP print come in, stocks will soar." It may take a little while for the realization to soak in. The actual number of +69,000 was a massive miss to both the expectation of 150,000, and the whisper number 100,000, and a drop from the massively revised April 77K, which was 115K before. And that is with a 204,000 addition from Birth Death. Just a total disaster for Obama who has decided to sacrifice the perception of an improving economy just so he can give Bernanke a green light to goose the stock market.

3rd monthly miss in a row...

A 4-sigma miss to expectations...

From the report, which was, simply said, ghastly.

Total nonfarm payroll employment changed little in May (+69,000), following a similar change in April (+77,000). In comparison, the average monthly gain was 226,000 in the first quarter of the year. In May, employment rose in health care, transportation and warehousing, and wholesale trade, while construction lost jobs. (See table B-1.)


Health care employment continued to increase in May (+33,000). Within the industry, employment in ambulatory health care services, which includes offices of physicians and outpatient care centers, rose by 23,000 over the month. Over the year, health care employment has risen by 340,000.


Transportation and warehousing added 36,000 jobs over the month. Employment gains in transit and ground passenger transportation (+20,000) and in couriers and messengers (+5,000) followed job losses in those industries in April. Employment in both industries has shown little net change over the year. In May, truck transportation added 7,000 jobs.


Employment in wholesale trade rose by 16,000 over the month. Since reaching an employment low in May 2010, this industry has added 184,000 jobs.


Manufacturing employment continued to trend up in May (+12,000) following a similar change in April (+9,000). Job gains averaged 41,000 per month in the first quarter of this year. In May, employment rose in fabricated metal products (+6,000) and in primary metals (+4,000). Since its most recent low in January 2010, manufacturing employment has increased by 495,000.


Construction employment declined by 28,000 in May, with job losses occurring in specialty trade contractors (-18,000) and in heavy and civil engineering construction (-11,000). Since reaching a low in January 2011, employment in construction has shown little  change on net.


Employment in professional and business services was essentially unchanged in May. Since the most recent low point in September 2009, employment in this industry has grown by 1.4 million. In May, job losses in accounting and bookkeeping services (-14,000) and in services to buildings and dwellings (-14,000) were offset by small gains elsewhere in the industry.


Employment in other major industries, including mining and logging, retail trade, information, financial activities, leisure and hospitality, and government, changed  little in May.


The average workweek for all employees on private nonfarm payrolls edged down by 0.1 hour to 34.4 hours in May. The manufacturing workweek declined by 0.3 hour to 40.5 hours, and factory overtime declined by 0.1 hour to 3.2 hours. The average workweek for production and nonsupervisory employees on private nonfarm payrolls was unchanged at 33.7 hours. (See tables B-2 and B-7.)

Remember when we were warning about seasonal adjustments? Well they work both ways. May is the first month of the year in which seasonal adjustment subtract from the unadjusted number. Sure enough: 718,000 jobs were statistically removed from the unadjusted Establishment Survey number, which actually increased by 789,000 in May.

The only silver lining: people out of the labor force declined by 522,000 in May.


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Fri, 06/01/2012 - 08:32 | 2483180 otto skorzeny
otto skorzeny's picture


Fri, 06/01/2012 - 08:32 | 2483185 Shocker
Shocker's picture

Here we go again, . This recoveery is surely taking its time


Fri, 06/01/2012 - 08:32 | 2483204 WonderDawg
WonderDawg's picture

I thought we answered the QE question for good yesterday?

Fri, 06/01/2012 - 08:40 | 2483267 GetZeeGold
GetZeeGold's picture



Ben Shalom is naked and hiding under his desk.......not a good sign.


Fri, 06/01/2012 - 08:45 | 2483319 NewWorldOrange
NewWorldOrange's picture

There will be profit for those here who ACT. I posted this a few days ago: Well at least one POOR guy is fast growing rich off these fucks:

Been short EUR/USD for nearly a month, as well as NZD/USD and AUD/USD. Scaled in for two weeks. ALL IN NOW. Do or die. Thanks Tyler. The incessant "gloom and doom" on Europe definitely encouraged me. I owe you buddy;:


Sun, 05/06/2012 - 17:37 | 2401652 NewWorldOrange "It's going to be a very interesting summer." Yes indeed it is. Perhaps even better than last summer (for currency traders.) As for this evening, I think AUD/USD and/or NZD/USD are better shorts than EUR/USD. Always great "risk off" trades, especially on a Sunday evening after such a weekend. Whether the markets perceive increased volatility much in part due to the Europe elections, a decline in global markets, or are still just pricing in the Friday's jobs report, there is likely to be a flight to the "safety of the US dollar" (yeah, I know - LMAO too) and when that happens the Aussie and Kiwi usually take a real beating. Especially if commodities markets are trending down as they have been.

Shorted both and EUR/USD Friday afternoon. Just closed EUR/USD. Just added BIG to my already sizeable shorts on AUD/USD and NZD/USD. I'll either wake up with a huge profit or most of my earnings from the past two months wiped out. Because sometimes you just gotta' go for the gusto.

[UPDATE 5-30-12: I got back in EUR/USD shorts the next week...closed my AUD NZD shorts last week...still in the EUR/USD short and in fact just went all in on that with a target of 1.21...}

[UPDATE 6-1-12: The Big EUR/USD SHORT: The gift that keeps on giving! Break below 1.23 imminent...]

(I think I'm allowed to gloat a bit especially after the past few days, heh. I'M RICH BITCHES!)

Thanks again Tyler! I owe you buddy!

Fri, 06/01/2012 - 08:47 | 2483332 Hard1
Hard1's picture

Media postive spin:  Well, after the revisions the 69 change in NFP print is only marginally worse than last month's 77!

Fri, 06/01/2012 - 08:52 | 2483377 Colombian Gringo
Colombian Gringo's picture

Of course. Our economy functions off of spin, manipulation of stats to pretend everything is ok.  This is how things are done in a fascist society

Fri, 06/01/2012 - 08:59 | 2483408 CClarity
CClarity's picture

Debt does not equal wealth.  Debt saturation must be expunged.  That means defaults, write downs, repudiations and no reason to be bullish about broad equity indices.  Specific companies maybe.  Gold certainly.  Fixed income in "reliable" names - which are a few sovereigns and a few companies.  Primary goal should be capital preservation.  Past time to get real.

Fri, 06/01/2012 - 09:08 | 2483460 hedgeless_horseman
hedgeless_horseman's picture



Debt does not equal wealth?  Watch what you say...California Congressman Pete Stark might throw you out a window!

Fri, 06/01/2012 - 09:23 | 2483562 eclectic syncretist
eclectic syncretist's picture

NWO - Getting it's one thing.  Keeping it's another.  Please be careful you don't lose your sense of balance and end up giving it all right back.  It's happened to me and countless others many times before.  Respect leverage.  It's your biggest enemy. 


Back on Topic with this post:  Obama's only political chance for re-election now is to try and harness the passion in the occupy movement and identify Romney with the 1%, and himself with the 99%.  It is a political strategy that could definitely work for him, but of course, that would mean he would have to take on the big banks and try to bring them to justice (he must publically blame Romney = big banks for our economic woes).  He hasn't shown anywhere near the balls needed for this political course so far, but desperation may be about to set in with this horrendous economic report.  Such a path would make for a very interesting rest of 2012.

Fri, 06/01/2012 - 10:07 | 2483858 smb12321
smb12321's picture

Obama cannot possibly run on his record so he has to try and make it about Romney.  The trouble is Romney is well-known as a very moderate, shrewd businessmans and making him into some rich, rightwing, evangelical screamer will be difficult at best.   Romney was my absolute last choice but when compared to Obama, there IS no choice.

Sat, 06/02/2012 - 04:16 | 2486944 StychoKiller
StychoKiller's picture

You could write-in Ron Paul, ya know!

Fri, 06/01/2012 - 09:23 | 2483573 phalfa5
phalfa5's picture

Dont' forget to hit the donate button.  And after buying a few t-shirts could you send me a coffe mug?  Dropped mine watching CNBS

Fri, 06/01/2012 - 10:06 | 2483853 Travis Bickel
Travis Bickel's picture

There will be profit for those here who ACT. I posted this a few days ago: Well at least one POOR guy is fast growing rich off these fucks...

We're so impressed with your expert trading skills. I bet your up over $300 today!

Fri, 06/01/2012 - 10:34 | 2484015 Harlequin001
Harlequin001's picture

just go ask Tyler, that's where he gets his info...

Fri, 06/01/2012 - 09:24 | 2483578 El
El's picture

As long as he doesn't start eating people's faces, it's all good.

Sat, 06/02/2012 - 04:14 | 2486943 StychoKiller
StychoKiller's picture

Everyone with a face should avoid him, then!

Fri, 06/01/2012 - 08:40 | 2483269 disabledvet
disabledvet's picture

again: this impacts EUROPE not the USA. Take a chill pill sheeple! You're Space RV has hit "hyperactive" today.

Fri, 06/01/2012 - 08:43 | 2483306 GetZeeGold
GetZeeGold's picture



again: this impacts EUROPE not the USA.


Heh heh.....good one chief!


Fri, 06/01/2012 - 08:44 | 2483311 Iam_Silverman
Iam_Silverman's picture

"this impacts EUROPE not the USA"

How so?

BTW, you should've used "your" vice "you're".

Fri, 06/01/2012 - 08:54 | 2483385 disabledvet
disabledvet's picture

If you don't have a US consumer "you'll be lucky to sell that Volkswagon for 50 bucks."

Fri, 06/01/2012 - 09:12 | 2483489 Iam_Silverman
Iam_Silverman's picture

"If you don't have a US consumer "you'll be lucky to sell that Volkswagon for 50 bucks.""

True, but isn't our largest trading bloc in the East, rather than Europe?  I know that I see far fewer VW's around here than I see Kia/Hyundai/Toyota/Nissan products on the roads.  Maybe French wines and imported German worst may take a hit, but I think that folks who buy European goods are far more insulated from these "little ups and downs" than the average buyer.

Fri, 06/01/2012 - 10:21 | 2483947 Kayman
Kayman's picture

"our largest trading bloc"

Doesn't "trade" require selling something to the other party ? What the fuck do we sell to China beside Benny Bucks ?

Fri, 06/01/2012 - 10:37 | 2484019 Harlequin001
Harlequin001's picture

all your secrets and other intellectual property, obviously...

Fri, 06/01/2012 - 14:25 | 2485211 Iam_Silverman
Iam_Silverman's picture

"all your secrets and other intellectual property"

I do believe he was talking about "sell", not "give" (or "allow" to be stolen).

Fri, 06/01/2012 - 21:55 | 2486608 Harlequin001
Harlequin001's picture

good point...

Fri, 06/01/2012 - 14:24 | 2485192 Iam_Silverman
Iam_Silverman's picture

" What the fuck do we sell to China beside Benny Bucks ? "

Just Treasuries (or, we used to).

But. my point is, what else would we trade with any other country/region?  What do we have that Europe wants, or will trade for luxury goods?

Fri, 06/01/2012 - 08:42 | 2483294 ArrestBobRubin
ArrestBobRubin's picture

Was the answer f*ck yeah, to Infinity

Fri, 06/01/2012 - 09:11 | 2483490 ghenny
ghenny's picture

There will be no QE 3.  The current politics simply will not allow it.

Fri, 06/01/2012 - 09:15 | 2483513 WonderDawg
WonderDawg's picture

I agree, but don't say that too loud around here.

Fri, 06/01/2012 - 10:24 | 2483966 DeadFred
DeadFred's picture

They won't announce it in June is my guess. The numbers aren't bad enough and despite what this post implies Obama doesn't call the shots. When they fail to deliver in June it will make people very unhappy. Then a bit later they can print. Printing with the S&P above 1200 will be hard to justify and the market won't drop below that as long as they think the goodies are just around the corner.

Fri, 06/01/2012 - 12:19 | 2484534 GCT
GCT's picture

I think QE will come when it has the greatest impact on the elections and not before.  Doing QE now will not have the impact this administration will need for their boost.

The crisis must be in full swing so they can capitalise on it!   We are still missing the riots in the streets.

Fri, 06/01/2012 - 09:51 | 2483748 eclectic syncretist
eclectic syncretist's picture

The magnitude of the downward revision for April suggests that this reported is fudged in the opposite direction it normally is in order to allow the Fed room to move.  In other words, to go ahead and print with the excuse that they are doing it to help the employment situation.

That said, they can't just print indiscriminately without risking bringing their house of cards down on their own heads, and with all the money pouring into UStreasuries at the moment, and the high uncertainty regarding policy responses in Europe, China, Japan, ect., it's unlikely that they are going to do anything until something very bad happens.  The reason they allowed such a bad report today is that they know something bad is going to happen, and they need the employment situation excuse to print when it does happen.  What that something bad is exactly no one can say, but it will surely be a result of too much credit and not enough assets.

Fri, 06/01/2012 - 08:34 | 2483209 bdc63
bdc63's picture

10 yr is under 1.5 (1.46 and ticking down) ... holy fuck

Fri, 06/01/2012 - 08:36 | 2483244 Max Hunter
Max Hunter's picture

We don't need no stinkin jobs!

Fri, 06/01/2012 - 08:40 | 2483266 Widowmaker
Widowmaker's picture

Just call the unemployed terrorists and there is your economic stimulus.

Unemployed? Indefinite retention.

Lock and load.

Fri, 06/01/2012 - 09:08 | 2483464 Peter Pan
Peter Pan's picture

Who was the German who said that "when things get serious you have to lie" ? The 8,2% rate of unemployment is such a lie that it offends both our intellect but more importantly those who are well and truly unemployed but somehow don't fully meet the definition..

Fri, 06/01/2012 - 09:22 | 2483540 kridkrid
kridkrid's picture

lies, damn lies and statistics.

A mathematician, statistician and economist are all interviewing for a job. 

The interviewer asks the mathematician, "what is 2 + 2" to which the mathematician replies, "4". 

The interviewer asks the statistician, "what is 2+2" to which the statistician replies, "4 +/- 10%". 

The interviewer ask the economist, "what is 2 + 2"... the economists stands up, draws the shades, closes the door and replies, "what would you like it to equal"?

Fri, 06/01/2012 - 08:40 | 2483281 3MonthsZHober
3MonthsZHober's picture

Get focused on the real trade; sovereign credit.

Fri, 06/01/2012 - 08:40 | 2483282 Gene8696
Gene8696's picture

Yep.. Wheels up!

Fri, 06/01/2012 - 09:03 | 2483439 ArrestBobRubin
ArrestBobRubin's picture

Good on Jim Willie, he called this to the T

Fri, 06/01/2012 - 10:00 | 2483816 smb12321
smb12321's picture

I keep thinking that this is the point to jump in and short bonds but we could actually see negative rates.  If someone can hold on for the long run this could be one of the greatest coups in history.   No way bonds will stay at zero or negative forever (uh oh -Japan?)


Fri, 06/01/2012 - 08:37 | 2483238 jekyll island
jekyll island's picture

It's even worse than it appears.  The April NFP was revised down to 77,000 from 115,000.  Guess that couldn't fly under the radar.  Got gold?  

Fri, 06/01/2012 - 08:40 | 2483265 Sauk Leader
Sauk Leader's picture

Next month May will be revised flat.

Fri, 06/01/2012 - 08:41 | 2483286 bdc63
bdc63's picture

usually CNBC runs a banner showing the prior month revisions ... not today.  this shit is getting SO old ...

Fri, 06/01/2012 - 08:41 | 2483290 Debt-Is-Not-Money
Debt-Is-Not-Money's picture

Finally an admission that we have been lied to, lied to and lied to!

Fri, 06/01/2012 - 08:42 | 2483300 GetZeeGold
GetZeeGold's picture



Wow.....this is the first I'm hearing about this.


Fri, 06/01/2012 - 08:44 | 2483308 slaughterer
slaughterer's picture

Can't wait for the White House to make an announcement about NFP. 

Fri, 06/01/2012 - 08:48 | 2483343 Iam_Silverman
Iam_Silverman's picture

"Can't wait for the White House to make an announcement about NFP."

Should be easy enough to spin - "Since the Non-Farm Payroll numbers have been allowed to dip, Our President has created a great new demand pull in the Farm Payroll sector!

Background reasoning would be that all of those unemployed now losing their EUP payments will be raising Victory Gardens on their rooftops in the projects..

Fri, 06/01/2012 - 09:01 | 2483429 azzhatter
azzhatter's picture

Jay the Carney will say "We continue to add jobs"

Fri, 06/01/2012 - 09:15 | 2483503 GetZeeGold
GetZeeGold's picture



Well not so much add......more like created or saved.....ok strike the created.....just saved.


Fri, 06/01/2012 - 08:59 | 2483417 Common_Cents22
Common_Cents22's picture

Hilda Solis addressing this reminds me of a surreal SNL skit.


Obama can blame GWB for being in WH yesterday!

GW had a great line, obama will be asking "What would George do?" as he walks by his portrait.

Fri, 06/01/2012 - 09:02 | 2483435 dbomb12
dbomb12's picture

Wait until months end when another 600,000 lose employment benefits, bank Holidays and economic martial law "here we come"

Fri, 06/01/2012 - 17:28 | 2486070 Debt-Is-Not-Money
Debt-Is-Not-Money's picture

It's even worse than that.

The CES Birth/Death model showed that jobs increased by 204,000 (statistically made-up, fantasy, phoney jobs). If one considers the BD model to be total bullshit (as I do) then 204,000 - 69,000 = 135,000 jobs actually lost!

Fri, 06/01/2012 - 08:40 | 2483272 Gully Foyle
Gully Foyle's picture


Now I've Got It

In "What We Talk About When We Talk About Recession," Bloomberg reports on yet another survey where the majority of respondents view things differently than the so-called experts on Wall Street.

Do feelings trump facts for small business owners? Three years after the Great Recession ended, 71 percent of small business owners indicated they “believe the United States economy is still in a recession,” according to a survey (PDF) of just over 1,000 of them released today by U.S. Bank (USB).

According to Bloomberg, the disparity between what most people are seeing and what is "really" going on is a definitional problem, resulting from the fact that the average Joe doesn't really understand the economic lingo.

To economists, a recession is “a significant decline in economic activity spread across the economy, lasting more than a few months, normally visible in real GDP, real income, employment, industrial production, and wholesale-retail sales,” according to the National Bureau of Economic Research, which officially designates when a recession begins and ends.

That wonky definition doesn’t necessarily match how people perceive the economy, says Richard DeKaser, deputy chief economist at The Parthenon Group consulting firm. “It’s not uncommon to see these kinds of dramatic disconnects between experiences and perceptions,” he says. “Even though an economy may technically be expanding, as it has now for three years, most people feel the economy is in a recession if it’s operating below full employment” or its full potential.

The report also suggests that popular perceptions -- or rather, misperceptions -- about the state of the economy stem from a superficial and simplistic assessment of reality, made worse by sound-bite journalism.

Business owners’ view of the economy may also be colored by headlines about stock prices and unemployment that get more attention than the rather obscure calculations of turns in the business cycle, says Brian Headd, economist at the Small Business Administration’s Office of Advocacy. “What we see all the time are stock market levels and job levels,” he says. Neither the unemployment rate nor the S&P 500 have returned to their pre-crash levels, and Headd says many people think “my 401(k) isn’t back where it was yet, so it must be a recession.”

In sum, it appears, the reason why most business owners -- and most Americans -- believe the economy remains in trouble is because they don't have the same knowledge and skill set as the individuals who, as a group, failed to anticipate the worst financial crisis and most severe economic downturn since the Great Depression.

Now I've got it.

Fri, 06/01/2012 - 09:03 | 2483441 Max Hunter
Max Hunter's picture

Hope you take profits on EUR/USD at 1.23.. could see a nice shoot up.. need to be careful with this amount of shorts out there..

Fri, 06/01/2012 - 08:49 | 2483350 d edwards
d edwards's picture

For the fun of it, I just clicked over to Business Insider-even they can't put a happy face on this one!

Fri, 06/01/2012 - 09:42 | 2483695 Normalcy Bias
Normalcy Bias's picture

What?! Even that hack propagandist Joe Weisenthal couldn't spin this news as further evidence of Obama's godliness?

Fri, 06/01/2012 - 08:32 | 2483191 ihedgemyhedges
ihedgemyhedges's picture


Fri, 06/01/2012 - 08:33 | 2483200 ihedgemyhedges
ihedgemyhedges's picture


Fri, 06/01/2012 - 08:42 | 2483248 bdc63
bdc63's picture

prepare for margin hikes ... it's all they got left ...

Fri, 06/01/2012 - 08:56 | 2483394 disabledvet
disabledvet's picture

"prepare for a moonshot" actually.

Fri, 06/01/2012 - 08:48 | 2483347 LeonardoFibonacci
LeonardoFibonacci's picture

Rockefeller - Rothschild partnership will fix this problem!

Fri, 06/01/2012 - 08:32 | 2483196 Yes_Questions
Yes_Questions's picture



One of the 81,000?

Fri, 06/01/2012 - 08:44 | 2483309 financial apoca...
financial apocalyptic contagion's picture

fuck these faggots who comment "first"

This isn't a meme on facebook you are commenting on son, get a life instead of waiting like a little bitch for TD to post and then writing a single word that provides no value to the discussion.

I was 1st to fuck your mom and certainly wasn't the last

Fri, 06/01/2012 - 08:56 | 2483390 otto skorzeny
otto skorzeny's picture

if you would have finished up with sodomizing your dog a little earlier this morning you could have had the first comment

Fri, 06/01/2012 - 09:05 | 2483449 ArrestBobRubin
ArrestBobRubin's picture

Maybe go with the 1/2 caff?

Fri, 06/01/2012 - 08:45 | 2483314 Vergeltung
Vergeltung's picture

+1 for your name.  :-)


Fri, 06/01/2012 - 08:46 | 2483322 Gully Foyle
Gully Foyle's picture

Presenting The Most Unemployed City In Every State
Fri, 06/01/2012 - 08:54 | 2483381 jekyll island
jekyll island's picture

Detroit - 8.7% unemployment.   LMFAO.  

Fri, 06/01/2012 - 08:53 | 2483376 monopoly
monopoly's picture

And how does "first" add to the commentary and intelligent thought on Zero Hedge. Isn't that something a first grader would do? Absurd post;

Fri, 06/01/2012 - 08:57 | 2483395 otto skorzeny
otto skorzeny's picture

see above reply to financial apocolypse

Fri, 06/01/2012 - 10:03 | 2483833 smb12321
smb12321's picture

It's just a freaking joke.  Zh posters take themselves WAY too seriously. Lighten up and sit back for a first hand look at the fall of the greatest power that ever existed on the planet.

Fri, 06/01/2012 - 10:28 | 2483983 hoos bin pharteen
hoos bin pharteen's picture

Minus one otto, for improper salutation.  You forgot "bitchez." 

Fri, 06/01/2012 - 10:38 | 2484022 Peter Pan
Peter Pan's picture

Hey Otto, here I was thinking that Geithner is an idiot.

Are your parents aware of what you are up to or have they run away from home?

Fri, 06/01/2012 - 08:32 | 2483182 Sakka
Sakka's picture

"Like a storm in the desert"

Fri, 06/01/2012 - 08:33 | 2483183 flacon
Fri, 06/01/2012 - 08:32 | 2483189 silver500
silver500's picture

Bad news is good news..

Fri, 06/01/2012 - 08:32 | 2483193 ultimate warrior
ultimate warrior's picture

Obummer :(

Fri, 06/01/2012 - 08:33 | 2483199 Byte Me
Byte Me's picture

green shits

Oh sorry

green shits

(How'd that happen?)

Fri, 06/01/2012 - 08:33 | 2483202 Vincent Vega
Vincent Vega's picture

Release the Kraken! (QE)

Fri, 06/01/2012 - 08:41 | 2483288 Gully Foyle
Gully Foyle's picture

Vincent Vega

Marcus Antonius:
And Caesar's spirit, raging for revenge,
With Ate by his side come hot from hell,
Shall in these confines with a monarch's voice
Cry "Havoc!" and let slip the dogs of war,
That this foul deed shall smell above the earth
With carrion men, groaning for burial.

Julius Caesar Act 3, scene 1, 270–275

Fri, 06/01/2012 - 08:41 | 2483291 disabledvet
disabledvet's picture

More like "the Cracker." where is Bill Clinton these days anyways?

Fri, 06/01/2012 - 08:47 | 2483330 Gully Foyle
Gully Foyle's picture


Bill Clinton is at the Walker recall hootenanny.

And he is complimenting Romney/Bain.

Fri, 06/01/2012 - 08:59 | 2483411 disabledvet
disabledvet's picture

Wasn't he just talking about we all need to lose weight and "phuck your Slurpie"? I mean we are talking Bubba here are we not? WTF?

Fri, 06/01/2012 - 08:55 | 2483389 Thamesford
Thamesford's picture

QE = Quantitative Easing or Quixotic Enema?

Fri, 06/01/2012 - 08:34 | 2483205 otto skorzeny
otto skorzeny's picture

don't let the door of the Choom Wagon hit you on the ass on the way out of the WH

Fri, 06/01/2012 - 08:45 | 2483315 Taterboy
Taterboy's picture

Picking a president based on skin color is as stupid as picking a wife based on breast size.

Fri, 06/01/2012 - 08:48 | 2483335 Gully Foyle
Gully Foyle's picture


The second part of your statement is incorrect.

Sat, 06/02/2012 - 04:28 | 2486952 StychoKiller
StychoKiller's picture

Yeah, do YOU wanna feed the babies at 3am?

Fri, 06/01/2012 - 10:41 | 2484035 Peter Pan
Peter Pan's picture

Hey Otto, why couldn't this be your first omment?

Fri, 06/01/2012 - 08:33 | 2483207 Yellowhoard
Yellowhoard's picture

The worse things get, the greater the QE.


Fri, 06/01/2012 - 08:33 | 2483208 apberusdisvet
apberusdisvet's picture

triple the 8.2% to get the real number

Fri, 06/01/2012 - 08:34 | 2483212 cherry picker
cherry picker's picture

I am not unemployed, just self employed with a customer who isn't paying.  There are many like me, not on NFP.

What a cluster f___ this whole economic "dream" is turning out to be.

Fri, 06/01/2012 - 08:40 | 2483285 Widowmaker
Widowmaker's picture

Mission accomplished!

Can i see your papers?

Fri, 06/01/2012 - 08:42 | 2483302 Gully Foyle
Gully Foyle's picture

cherry picker

"I am not unemployed, just self employed with a customer who isn't paying."

Have you tried breaking a limb or two? I hear that is pretty effective on reminding debtors of their obligations.

Fri, 06/01/2012 - 08:43 | 2483304 disabledvet
disabledvet's picture

Looking for someone in the "pay me now phucker" department?

Fri, 06/01/2012 - 08:34 | 2483213 francis_sawyer
francis_sawyer's picture

8.2%... lol

Fri, 06/01/2012 - 08:34 | 2483214 Fantasy Planet
Fantasy Planet's picture

Asteroids pass the Earth closer than this.

Fri, 06/01/2012 - 08:36 | 2483229 francis_sawyer
francis_sawyer's picture

Are you sure you're not mistaking zem for 'ze planes'?

Fri, 06/01/2012 - 10:09 | 2483874 Fantasy Planet
Fantasy Planet's picture

Used to be.  Now it's drones.

Fri, 06/01/2012 - 08:33 | 2483215 insanelysane
insanelysane's picture

More QE because it has been working so well.  How about suspending income tax for everyone?

Fri, 06/01/2012 - 08:49 | 2483351 GeezerGeek
GeezerGeek's picture

How about suspending income (salaries) for all elected officials?

Fri, 06/01/2012 - 08:35 | 2483219 I should be working
I should be working's picture

It's funny how futures sell off until the actual number is released.  It's as if the lousy print was priced in beforehand...

Fri, 06/01/2012 - 08:54 | 2483382 Iam_Silverman
Iam_Silverman's picture

"It's funny how futures sell off until the actual number is released."

Surely you are not implying that there are those "in the know" trading on this information before it's released!  Isn't that illegal?  Except of course for our esteemed members of Congress and the Senate.

Fri, 06/01/2012 - 08:35 | 2483221 otto skorzeny
otto skorzeny's picture

bring it bitchezzzzz

Fri, 06/01/2012 - 08:34 | 2483222 infiniti
infiniti's picture

Always amazed by the reaction to a number that is subject to huge revisions.

Fri, 06/01/2012 - 08:38 | 2483255 azzhatter
azzhatter's picture

and manipulation

Fri, 06/01/2012 - 08:46 | 2483327 pods
pods's picture

It really is meaningless in the big picture.  Last month was about 40% revision, and the B/D portion was like 200k?

So next month we will could add 150k jobs, but twice that number is a fudge factor, and it has a +- of 50%?

This just adds in some randomness to the market so people don't get bored watching HFT bots playing ping pong with FB shares.


Fri, 06/01/2012 - 08:58 | 2483398 3MonthsZHober
3MonthsZHober's picture

And keeps Biderman busy counting off balancesheet beans.

Fri, 06/01/2012 - 08:35 | 2483223 midgetrannyporn
midgetrannyporn's picture

This means record executive bonuses again.

Fri, 06/01/2012 - 08:43 | 2483297 Widowmaker
Widowmaker's picture

America -- FUCK YEAH!

Fri, 06/01/2012 - 08:35 | 2483224 Poetic injustice
Poetic injustice's picture

That looks good for economy outlook!

On the other hands, that's 8,2% army ready people.

Fri, 06/01/2012 - 08:52 | 2483374 GeezerGeek
GeezerGeek's picture

Most won't join while there's a good chance of ending up in the Middle East or Afghanistan. Remember during the Iraq invasion how some National Guard troops complained about being deployed overseas? They said they only joined for the educational benefits and never expected to actually be asked to do anything.

Fri, 06/01/2012 - 09:11 | 2483485 Poetic injustice
Poetic injustice's picture

They will not be asked. Just a new law "For every month of unemployment, 3 months in army" or similar crazy stuff.

Fri, 06/01/2012 - 09:31 | 2483630 SokPOTUS
SokPOTUS's picture

B.S. - Not with a $500B sequestration coming...

Fri, 06/01/2012 - 08:35 | 2483226 valkir
valkir's picture

War just began ,bitchez.

Fri, 06/01/2012 - 08:36 | 2483227 hero HNL
hero HNL's picture

How do you miss so much????????????

Fri, 06/01/2012 - 08:35 | 2483230 Lord Maximus
Lord Maximus's picture was the weather!! It snowed in Alaska #spin

Fri, 06/01/2012 - 08:51 | 2483362 ArrestBobRubin
ArrestBobRubin's picture

....and his replacement can't wait to go to war with Iran, then it's on to Russia, whom he calls "public enemy no. 1"

the poison you know is often better than the poison you don't. There may be a tinge of doubt about who exactly owns Obama.

There is absolutely none when it comes to Mutt.

Just sayin', careful what you wish for here.

Fri, 06/01/2012 - 08:59 | 2483413 ArkansasAngie
ArkansasAngie's picture

Neither a Republican nor Democrat be.

Regime change starts at home


Fri, 06/01/2012 - 12:35 | 2484597 V in PA
V in PA's picture

It's just so darn cute when the kids think there is a difference between Republicans / Democrats.


Just to be clear, what you are seeing is two little puppets fighting on a stage. What you don't see, but all of the adults in the audience know, is that there is only one puppet master behind the stage.

Fri, 06/01/2012 - 08:36 | 2483232 Memphis10
Memphis10's picture

OOf... dam..

Fri, 06/01/2012 - 08:35 | 2483234 RobotTrader
RobotTrader's picture

Long bond, wow!

History in the making.

Fri, 06/01/2012 - 08:39 | 2483261 SheepDog-One
SheepDog-One's picture

LMAO! Now yer a bond dork? What happened to all those momo's? 

Fri, 06/01/2012 - 08:50 | 2483352 John Law Lives
John Law Lives's picture

RobotChump simply reports news.  If only ZH had an ignore button...

Fri, 06/01/2012 - 08:41 | 2483280 udaman
udaman's picture

nice pic

Fri, 06/01/2012 - 08:48 | 2483342 ihedgemyhedges
ihedgemyhedges's picture

That's the only good thing about Robo coming back to the board...........for a lower look at the good stuff, see Cranky Old Geezer........

Fri, 06/01/2012 - 09:01 | 2483386 John Law Lives
John Law Lives's picture

I thought Robo was gone for good.  I didn't miss him/her.

Fri, 06/01/2012 - 08:44 | 2483317 disabledvet
disabledvet's picture

Word is Elon Musk will now build a Spaceport in Alabama.

Fri, 06/01/2012 - 08:56 | 2483392 GeezerGeek
GeezerGeek's picture

Switzerland showed the way. Issue $1.6 quadrillion at -1% per annum and poof, no more debt after the first year. I'm sure the Fed will buy them, since they can just print more money.

Fri, 06/01/2012 - 08:36 | 2483237 pods
pods's picture

Just a bit outside.

Fri, 06/01/2012 - 08:37 | 2483241 BLACK_DOG
BLACK_DOG's picture

Was this the other shoe to drop!

Fri, 06/01/2012 - 08:36 | 2483243 Itch
Itch's picture

Births and deaths > 200k, what gives?


Fri, 06/01/2012 - 08:37 | 2483245 caimen garou
caimen garou's picture

the plunge protection team will have to call in their reserves!

Fri, 06/01/2012 - 08:37 | 2483246 JackT
JackT's picture

Ohhhh...this is where everyone is at. 

To the moon Alice!  Wait, why is the DOW red, QE is in the bag!

Fri, 06/01/2012 - 08:40 | 2483247 SheepDog-One
SheepDog-One's picture

'QE'.....pfffft yea sure. 

Fri, 06/01/2012 - 08:43 | 2483303 WonderDawg
WonderDawg's picture

Thank you. QE3/New QE has been talked about here since April of last year. I think the horse is sufficiently beaten.

Fri, 06/01/2012 - 08:38 | 2483250 RobotTrader
RobotTrader's picture

Tom Keene:

"The 30-year is now the 6 - mo. T-Bill"


Fri, 06/01/2012 - 08:48 | 2483341 disabledvet
disabledvet's picture


Fri, 06/01/2012 - 09:16 | 2483519 El
El's picture

Is that to the tune of Johnny Cash?

Fri, 06/01/2012 - 08:38 | 2483251 Zgangsta
Zgangsta's picture

Got Gold?

Fri, 06/01/2012 - 08:37 | 2483252 EmmittFitzhume
EmmittFitzhume's picture

But...But...Aren't more people leaving the work force?!?!  We gotta keep that unemployment rate down dammit!

Fri, 06/01/2012 - 09:14 | 2483507 El
El's picture

That's what doing away with the extension of benefits is for. Huge numbers will fall out of the work force when that happens. Good times!

Fri, 06/01/2012 - 08:37 | 2483253 ArrestBobRubin
ArrestBobRubin's picture

No wonder they've been shit kicking pm's in advance of an avalanche of new funny money that's not worth the paper it isn't printed on (h/t Gerry Celente)

Fri, 06/01/2012 - 08:38 | 2483254 LoneStarHog
LoneStarHog's picture

Birth/Death PLUS 204,000 ... WTF, again!?!?!

Fri, 06/01/2012 - 08:38 | 2483259 otto skorzeny
otto skorzeny's picture

I picked a bad week to stop sniffing maria bartiromo's ass

Fri, 06/01/2012 - 08:46 | 2483321 GMadScientist
GMadScientist's picture

Your UE claim is as valid as the next guy's...

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