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Today's Economic Data Docket - And The Depression Rolls On With Yet Another 400K+ Jobless Claims Number
Today we get jobless claims and the trade balance (which will have a large impact on Q3 GDP "growth"), both largely irrelevant as they will merely confirm the downward trajectory of the economy. What matters are flashing headlines, HFT kneejerk responses, lies, rumors, innuendo, and endless bullshit.
8:30: Jobless claims (Week of October 8): Still lower? Last week initial jobless claims remained low following an unexpected drop two week prior. Consensus forecasts had expected an increase, likely because the Department of Labor attributed the earlier decline to seasonal adjusted distortions. The fact that claims held at lower levels suggests those distortions may have been small.
Consensus: 405,000; Last: 401,000. MAP: 2
8:30: The US trade balance (August): Likely wider. Goldman forecasts that the trade balance widened to -$47.0bn in August from -$44.8bn in July. In July the trade balance narrowed sharply on a large increase in real export volumes and small decline in imports. Expectations are that the gain in exports in July partly reversed, leading to the modest deterioration. However, the forecast is that the trade deficit will remain smaller than at the end of Q2. The trade report could have a large impact on “bean count” estimates of Q3 GDP growth (Goldman's current forecast is 2.5%, annualized).
GS: -$47.0bn, Consensus: -$45.8bn; Last -$44.8bn. MAP: 2
14:30: Minneapolis Fed President Narayana Kocherlakota on monetary policy.
via GS
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So I guess this would be 'down twinkles', but still bullish?
The Europeon markets seem like hesitant pussies waiting on US markets to give them the okay to move higher, which will happen because everyone is speculating on earnings and dumping treasuries only to move into equities only to reverse as soon as earnings are over. Just as it happened during first and second quarter.
Thats the only game left to play. There are no real investments anymore. I think the point that really hit home for me was reading that article about how Boeing is now making jets in China. At that point you have to ask yourself, what chance does the average U.S. high school grad / college grad have of getting a job in the unfree market where their competition is getting paid 1/50th of what they get.
In China,University and College are not free. but in US, you can student loan as easy as you can.
No because you will be stuck with student loans that will stay with you for the rest of your life and you will be unemployed because china will work for 1/5 of your pay here.
But you have benefit and social security. You don't even need a job as you can still earn more than the low skilled Chinese worker. And you have more income left for consuming other things
I don't even know where to start with this. Perhaps you should visit Detroit sometime.
moskov - But you have benefit and social security. You don't even need a job as you can still earn more than the low skilled Chinese worker. And you have more income left for consuming other things
The money does not go so far here as it does in China, given the current exchange rates. A US citizen cannot ever hope to live an average life style and retire on Chinese level of income.
Everyone who's paying attention to the Boeing BOD's little outsourcing-to-cheap-labor experiment has noted how well that worked out them and their VERY late delivery of their 787 Dreamliner.
At that point you should also be asking yourself, "should I take a train?"
As long as bonuses JPM and GS are safe then the world will be safe.
You got that right, endless bullshit biatches.
cargo & port shipments down in Sept.
diesel fuel consumption down in Sept.
railway traffic stable in Sept.
Distribution, which is the lifeblood of the economy, bringing final products to consumers, these mretric are markedly down.
I'm on the recession boat. I can't believe the equity rally has been this strong, despite recessionary leading data.
posted earlier Faber on Bloomberg this AM
people are focused on Europe but they should be focused on China which is in a deep deceleration and will be the next shoe to drop creating a downward spiral in the world.
Loved the intro Tyler...
Woman came into the office and said her daughter was looking at William and Mary as her 1st choice for college. She sighed and said "with expenses thats aout 50K per Year". I told her this:" Tell your daughter to consider state univeristy. Tell her you will uset the 200k private college cost to buy her a 200K duplex, she can rent out one side, move some paying undergrads into her side if she wants, the mortgage-free rents will pay her instate tuition in real time and as a graduation present she gets the duplex and rental income for life." Keep it all, bitches!
for 200,000 you can buy an apartment building!
'HFT kneejerk responses, lies, rumors, innuendo, and endless bullshit'.
Got to love this line. Another Melt Up Day on less volume ???
GOOG will save the world BTFD
GOOG will save the world BTFD
Does the OWS crowd have an unemployment claims booth in lower Manhattan? Would boost their numbers right quick.
Getting a bit depressed aound here it seems. ZH keeps telling the world it has ended, but the world just won't listen.
Too bad so sad ZH. One day, you might be as accurate even as a broken clock. But not yet!
so friend, do tell us then, why are you here?
....because he is a troll, and troll's love getting as many junks as possible while they read ZH and masturbate.
I can´t believe the stock market is up so much also...it is very strange...and if I hear "beat expectations" one more time I am going to scream...
Ha ha! That post of yours beat expectations!