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Richmond Fed Faceplants At -17, Expectations Of Rise To -1; Worst Since April 2009
And another epic miss in the slow motion trainwreck that is the US plowhorse economy now to its neck in quicksand. The latest B-grade economic indicator: the Richmond Fed, which was expected to rise modestly from -3 to -1. Instead it faceplanted to -17, the biggest miss since August 2010 and the lowest print since Apirl 2009. But at least US housing has bottomed. Just kidding. At this point there should be no doubt that the US economy is in freefall - and the only recourse we have is the definition of madness: more QE which everyone by now knows will do nothing but provide a brief sugar high, and spike inflation and stock prices, only for everything to implode demanding even more QEasing from the Chairsatan, and on, and on, until in the endgame, the USD finally loses credibility. Of course, if this horrifyingly bad economic print does not send stocks soaring, we don't know what will.
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ICollapse tonight?
Seems bullish.
Clearly.
Calling my broker right now.
I gotta' get a bigger piece of this.
A 1% target on the 10 year treasury will move prices.
i haven't seen this on CNBC this morning yet!!!!!
That's because the number of employees component went straight down the toilet, thereby hurting the narrative......
To quote one of my favorite songs:As I walking down the street one day. A man cam up to me and asked me what the time time was that was on my watch...and I said
very late...
The live version is best.
http://youtu.be/tBuUUBrC9eQ
<-- my business is doing better this year
<-- my business is doing worse this year
"More with less" seems to be a common mantra.
pods
Hope! CHANGE! Pie! oh, wait....
You forgot peas.
Their idiot writers need more time to spin this, or to outright say "its a great number, could have been much worse!!"
Dow 20,000 is in the bag.
BTFD
Revised down from 36,000? Humm even the mega bulls are getting bearish....
Collapse?
It's not happening....
http://www.youtube.com/watch?v=d8IBnfkcrsM
Invisible hand of Adam Smith. Errrrr..Brian Sack arriving in 8 minutes.
Vote to Audit the Fed could hit the floor as soon as tomorrow... H.R. 459 Vote YES
I'm not much of a believer that they listen, but
Urge them to vote yes on HR 459
http://www.contactingthecongress.org/
Thank you for the link. I just sent the following emaill to my congressman, Jeff Miller of Florida's 1st District:
Support HR 459.
Who knows who reads this in your office; I don't have any delusions Jeff actually does.
But just in case, let me add:
Jeff, for all these years all you've done is run down the Blue Key game of keeping your head down, your mouth shut, and doing what you're told.
Well, the wheels are getting ready to come off the wagon with the US economy. I realize you get paid regardless, so it's not like it really means anything to your wallet.
But it does mean a lot to those who actually have to hope they keep their job, and that their employer stays in business. You can't relate to that, but try.
The FED is nothing but a privately owned operation to keep banksters in business. You don't have the faintest idea what their books look like, and how much is on the hook.
Back in the 70s when the S & L's went under with the real estate scams, bankers went to jail.
Today, Jon Corzine "vaporizes" $1.2-billion, and walks. Not one banker went to jail for the massive fraud of the robo-signing scandal. Nobody went to jail for Lehman Bros., AIG, or any of the other criminal acts of the Too Big To Fail banks.
I haven't heard a peep out of you about everyone getting away with their criminal actions.
The FED was up to its neck in all of it. Yet you don't even know what their books look like.
It's called "due diligence," and it's your responsibility to know. But neither you, nor anyone else in Congress does.
So Jeff, it's time for you to come back to Earth and start doing something for us that actually makes a difference.
Will you? Probably not. You are the biggest disappointment I've ever backed for office.
But maybe your pals at the Fish House will get the idea through your head. God knows all the unemployed, foreclosed, and bankrupt haven't gotten you to open your mouth and do something.
Audit the FED, Jeff. Break out of the Blue Key mold and do something that will make a difference.
-30-
It will get worse! Die Fed! Die!
These are not the green shoots you're looking for.
Help me Obama-wan, you're my only hope.
I think he meant hope for change.
Mmmm, what happened just before that worst figure during March 2009?
but...but.... Cramer says it's all okay, US is strong. Follow the bulltard
After being down 100 pts in 2 days, Cramer finally pulled the plug on Chipolte...BOOOYAHHHH
http://truth-out.org/opinion/item/10476-the-careerists
SUPERB passage. Thank you for posting.
Excellent read... Chris Hedges sees the world as it is and isn't afraid to tell truth to power.
+1
Look! Enough with the housing bottom jokes. That's my business!
Or should I say, WAS my business. Or what's left of my business.
But that's OK, because I didn't build that business.
I'll be working on the gubmint farm soon enough.
It doesn't matter becasue; Now is the best time to buy a home...right?
I have a nice 3 bed 2 bath in the Missouri FEMA camp. I'm saving up for the downpayment.
with that kind of thinking old chap you will be in line for a gubmint managerial role. we need more like you
Do you dig basements for a living? Even my six year old knows that's the bottom in housing.
More QE next month just as oil is on the high end again AND global food inflation from drought is about to rocket higher.
Distraction war in 5...4...3...
Yup, the technicals on the Dollar Index show that its near the 87 QE handle to let the printers rip.
At least housing is saved...well according to FHFA pricing...which I'm sure they're unbiased
Depressing to watch...although I'm sure some get their kicks from it
Read "Hard Times" by Studs Terkel 1970
Windows of opportunity continue to open.
Come on guys. Quit with the Doomonomics. The private sector is doing fine.
Yeah quite paying attention to numbers. Obama, our dear leader, said the economy is moving in the right direction~! He should know he's the president, amirite?!?!
Please note he said right direction, not upward direction.
I think the "right" direction for President Sotoro is vastly different than you and I might choose.
Watching stocks these days is very similiar to watching a puppet show and noticing the strings.
Muppets?
Lacker = scumbag
"Sarcasm"...rhymes with "Spasm."
Confetti and physical. For now, a good combination. But I hate dollars.
Hey look a triple top, they should tie this in with the new Total Recal movie.
http://www.dailymail.co.uk/tvshowbiz/article-2174916/Meet-Total-Recalls-...
Fun writing. Thanks for the irony...
When you make Treasuries more atractive than housing by announcing purchases in perpetuity, its small wonder there is no capital for anything else. Giving money to the government is a strange way to kickstart an economy.
What a kick in the nards!
Take a look at:
http://www.richmondfed.org/research/regional_economy/surveys_of_business...
This is maybe the best intro to an abstract I have seen in these hallowed pages in three years.
"And another epic miss in the slow motion trainwreck that is the US plowhorse economy now to its neck in quicksand."
Made me smile.
Suckit, Richmond... Suckit long, and suckit hard...
we are definitly getting the change the great one told us were going to get just hope we dont get much more of it.
Market will be ripe for a rumor in a few hours.
Dip and rip. Who would be mad enough to play in this cess pit called a "market"?
Bad is good. Up is down. War is peace....
Love is hate, Freedom is slavery, Truth is lies.
You can count on Ben unleashing the next QE when they figure the heigth of the sugar high will be a few weeks before the election. The timing has to be just right. With the half life getting shorter and shorter they must calculate it properly. The screaming proletariat has too short of an attention span to be off. You can hear HIM now "we're turning it around people and I need your help to continue the job." Yada, yada, yada, ad nauseum.
Solution: The return of legitimate Treasury notes, the virtual dissolution of the federal government, and the MASS ARRESTS of thousands of top traitors from Obama and Brenanke on down. The fear-bots that dismiss this as fantasy are the same idiots who dismiss the power of tens of millions of American gun owners, patriots, active-duty military, reservists, veterans, police, federal marshalls, and so on, who took the oath to defend the Constitution. http://tinyurl.com/cd5cyjo/
Combine the Flash PMI with the Richmond Fed, and its bad day at The Whiskey.
http://confoundedinterest.wordpress.com/2012/07/24/recovery-house-prices-increase-while-flash-pmi-richmond-fed-down/
McCain would have had us in a world war within two years and everything would be different now.. The MIC would be creating jobs and the draft and mercenaries would be easing unemployment. Who sez Government can not create jobs.
Weeeeeeeeeeeeeeeee!!!!!!!!!111111
Got rope?
Oops?