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Philly Fed Is Out With Latest "Schrodinger" Economy Print
Remember when the Chinese PMI posted both a contraction an expansion for the month of March, with Markit showing a sub-50 contractionary print, while the Chinese version showed 51, or expansion, in other words China was both stagnating and growing at the same time, merely the latest indication of our modern day Schrodinger-ness macro insanity? Well, we just got the US version of this Heisenberg Economic Uncertainty principle, when as part of the just released Philly Fed index (which also printed better than expected despite a drop in New Orders and Shipments), we saw Priced Paid.... tumble from 38.7 to 18.7!!?? Why the surprise? Because 90 minutes prior to this, we just got The New York Fed telling the world that prices paid in fact soared by virtually the highest amount in real terms on record! In other words, in New York survey respondents are experiencing soaring inflation, while 90 miles Southwest, manufacturing firms were awash in deflation. Do they even try to manipulate the data anymore?
That said, while this is a carbon copy of what happened in early 2011, the final outcome was both series eventually succumbing and plunging far lower as the "economy" rolled over following the expiration of QE2 benefits. Sad to say, this merely confirms once again that 2012 will be nothing short of a 2011 carbon copy in virtually every regard.
And other charts from this latest contradictory indicator:
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Honestly, are there any shorts left out there in this market? This market never goes red for more than 10 minutes!
Well, I got a dozen of them sitting in my drawer that needs to be put into good use with the warm weather these days.
abracadabra
These are diffusion indexes. A drop from 38 to 19 says nothing about the magnitude of price increases just the number of people observing them. That's why this series bounces around so much. -50 doesn't have to relect a huge change in price from + 19.
And to add insult to injury, BBG Consumer Comfort is soaring in tandem with gasoline price. LOL!
reports have zero credibility
And you'll soon have zero stroke!
http://en.m.wikipedia.org/wiki/Zero_stroke
I hope it is clear to all now that multicultural markets have FAILED. We have to stop this madness before its too late! Vote Ron Paul 2012!
Guys like you make the rest of us Ron Paul supporters look bad.
That's probably the goal too of course. It's more of the Ron Paul and his supporters are all nuts meme.
He's not even good at hiding it. Every post is more or less the same and he never replies... he's a computer program. People can find the RFP that was put out, I believe it was by the Air Force, to acquire such technology.
Now that's what I call a blow off top. When this motherfucker finally goes it Will. Be. Epic.
Now that's what I call a blow off top. When this motherfucker finally goes it Will. Be. Epic.
When things the sum of all activity is changing from positive to negative, there will always be lots of conflicting data. I expect more in the next 6 months as it becomes clear to everyone that this "recovery" was a farce.
The mere fact that they, 4-5 years after the recession kicked in, still continuously talk about the "recovery" makes you realize there never was one.
I guess they still will be talking about the "recovery" in 2021.
I'm sure Steve Liesman has a perfectly logical answer to this dicotomy. Let me guess: Philly data is right where it is good to be right, and NY data is wrong where it is bad to be wrong.
All index indicators pointing to highly overbought.
It's what happens when the crooks don't collaborate on their releases..
There is so much crap even the banksters and their butt buddies at the FED can't even keep on top of it..
If SHTF in the Middle East this summer, then this data will be laughable at minimum in the months thereafter to say the very least.
That and the Fed's willingness to "act" at almost every turn.
Dig in deeper, Aziz!
'2012 will just be a carbon copy of 2011 in virtualy every regard' <---this is whats known as a 'fatal error'. Believe that at your own demise.
Theyre monetizing the debt, they dont care about massaging the data much because theyre done monetizing the debt anyway. Should I mention theyre monetizing the debt and thats all any of this is about? Theyre monetizing the debt and have been doing so under the guise of 'stimulating the economy, repairing the banking system'....lmao.
election year...
wait for 2013.. its gonna look like a hell..
alx
Election year doesn't matter, at least with respect to keeping Obama in office. It might matter with respect to who comes next in the long line of fascist presidents and when that transition happens... but propping up the economy doesn't have anything to do with the need to keep Obama in office, in my opinion.
I suspect our next fascist leader will look more the part. I don't think he's currently in the mix, so if it's this election, it will need to be brokered convention, which does seem to be the direction that things are heading. Lots can happen between now and November.
"you take the high road and i'll take the low road" http://scottishparodies.tripod.com/lyricsandfreesonglyrics/id43.html
Please. Pretty please, with a cherry on top. Leave poor Schrodinger's pussy cat alone and let it decompose naturally. You sick bastards keep playing with a dead cat.
I'm begging you. Just let it go already! :)
Get the impression they are getting careless with the data manipulation.
It comes with the realization they have total control, and most of the population is not seriously looking at their manipulated data anyway.
Why expend any unnecesary effort ...
could be. Or it could be the opposite... they may not have any control... there is just too much data that needs to be controlled that it becomes an impossible task. Complex systems, being what they are, provide an illusion of equilibrium just before they break apart. My money is on that.
Anyone with an I.Q. point above a sheeple, knows the print is ficticious.
Green is good, red is bad.
Is this a blow off top or not?
Stagflation
Maybe one is real, the other is not -- or maybe they're BOTH fake, and the real number is hidden or just unknown.
BTW, it's Schrödinger, with that German umlaut thing on the "o". The alternate spelling is Schroedinger.
Meow.
Dammit, fell for the old Suck and Blow trick... again.