US Consumer Hopium Drops To February 2009 Levels

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Thu, 10/20/2011 - 10:00 | 1792622 101 years and c...
101 years and counting's picture

spending up 3.5% YoY.  Inflation up 6.9% YoY.  am i the only one that sees REAL spending is down?

Thu, 10/20/2011 - 10:08 | 1792654 mayhem_korner
mayhem_korner's picture

I'd love to see a reporter throw that fundamental question to the Joe-B and TOTUS show.

Thu, 10/20/2011 - 10:16 | 1792677 MillionDollarBonus_
MillionDollarBonus_'s picture

The libertarian crowd seems to have an ever increasing sense of superiority stemming from their belief that underground blogs are more credible than the mainstream media. I would like to point out that many mainstream media outlets were predicting this crisis WELL in advance. Here are some examples of the mainstream media predicting our current economic conditions:

1. This controversial BBC article discussed the possibility of a double dip recession long before anyone thought it was a possibility:

2. CNN was also proactively warning about the possibility of a downturn in the global economy, well ahead of mainstream thought:

3. This MSNBC article was considering the possibility of a double-dip recession all the back in 2010:

I think it's time for libertarians to grow up and admit that the mainstream news outlets are FAR ahead of the game when compared to discredited internet conspiracy-blogs, and that journalists with Ivy League degrees are far more qualified to analyse world events than spotty libertarian computer nerds.

Thu, 10/20/2011 - 10:17 | 1792703 mayhem_korner
mayhem_korner's picture

Now that I've junked you, let me read what you wrote.  :D




Yup.  I got it right.

Thu, 10/20/2011 - 12:28 | 1793491 Nom de Guerre
Nom de Guerre's picture

Why junk him? This shit is comedy gold.

Thu, 10/20/2011 - 10:20 | 1792716 Darth..Putter
Darth..Putter's picture

For my part I've increased my retail spending on survival food, guns, ammo, 4x4 truck, solar panels and seeds.

Oops, forgot bullion.


There's yer uptick!!

Thu, 10/20/2011 - 10:20 | 1792718 homersimpson
homersimpson's picture

"underground blogs are more credible than the mainstream media."

Surely you're not stupid enough to believe the opposite. If so, that'd explain why you posted what you did.

Thu, 10/20/2011 - 10:24 | 1792746 jdelano
jdelano's picture

Good satire has to occassionally venture a little too far into the absurd, thereby revealing to the reader that it is in fact satire rather than genuine idiocy... at least, that's what this "libertarian" learned while obtaining his Ivy League degree...

Thu, 10/20/2011 - 10:24 | 1792747 DosZap
DosZap's picture


I think it's time for libertarians to grow up and admit that the mainstream news outlets are FAR ahead of the game when compared to discredited internet conspiracy-blogs, and that journalists with Ivy League degrees are far more qualified to analyse world events than spotty libertarian computer nerds.


When your OWNED by the newsmakers, it's easy to get a leg up,there is no analyzing to be done.

Besides anyone with Sixth grade education new we never came out of the LAST one, It's So hard to figure this stuff out.

Thu, 10/20/2011 - 10:25 | 1792751 Dumpster Fire
Dumpster Fire's picture

journalists with Ivy League degrees are far more qualified to analyse world events than spotty libertarian computer nerds.


Yah like Cramer.  Preach it.

Thu, 10/20/2011 - 10:57 | 1792949 route40misery
route40misery's picture

Are you getting a nice cut, plugging them like this?

Thu, 10/20/2011 - 14:51 | 1794279 xcehn
xcehn's picture

Anything is more credible than the mainstream media, which is essentially a JOKE, a propaganda ministry serving the banksters and other corporate sponsors.

Thu, 10/20/2011 - 10:09 | 1792658 DormRoom
DormRoom's picture

yeah, why don't they normalize monthly retail spending to changes in monthly CPI?  And normalize yOy retail spending to inflation.  I"d like to see those charts.

Thu, 10/20/2011 - 10:11 | 1792668 mayhem_korner
mayhem_korner's picture

What?!?  Tell the truth???  Opacity is the linchpin of power retention.

Thu, 10/20/2011 - 10:20 | 1792700 Rynak
Rynak's picture

Spending that does not directly or indirectly come from shots via (stealth-)taxation, has been down like forever.

And you don't need any fancy stats for this. Just look at real practical price inflation, and compare it with the wage/hour of the bottom 95%.... dude, they cannot spend what they do not have! That is, unless the average reduction in real wages, is to a lower or higher extend compensated via..... well, guess what.

If you take imports, exports and misc wealth-transfer mechanisms out of the game, then over a longterm timespan: Wages == purchasing power == corporate revenue == corporate spending == wages == purchasing power.... and so on. The only thing that changes anything at all in that loop, is transfers into and out of the system (imports, exports, debt) and wealth-transfer mechanisms, and hoarding.


Thu, 10/20/2011 - 10:23 | 1792726 topcallingtroll
topcallingtroll's picture

Zombie banks
Zombie mortgages
Zombie homeowners
Zombie corporations
Zombie politicians.

The whole economy of the first world is becoming zombified.

Thu, 10/20/2011 - 10:01 | 1792630 Steel_Preacher
Steel_Preacher's picture

You know if I had a buck for every time I wanted to just grab a sheeple, family member etc and smack the piss outta them and yell..."WAKE UP" I could buy GS.   Hopium KILLS.

Thu, 10/20/2011 - 10:16 | 1792698 mt paul
mt paul's picture

"You know if I had a buck for every time I wanted to just grab a sheeple, family member "

you would have fiat currency...and thus have less than nothing 

Thu, 10/20/2011 - 10:25 | 1792755 Steel_Preacher
Steel_Preacher's picture

You got me, how about an ASE every time?

Thu, 10/20/2011 - 10:23 | 1792732 treemagnet
treemagnet's picture

Try living in rural farmville where everything that can be pushed up with a weak dollar is soaring - and they're loving it and livin large.  I feel like Noah building an ark sometimes.

Thu, 10/20/2011 - 10:02 | 1792634 reader2010
reader2010's picture

Refi didn't work the magic this time around thanks to the free market. 

Thu, 10/20/2011 - 10:06 | 1792648 mayhem_korner
mayhem_korner's picture

Didn't see the /sarc/ so I down-arrowed you. 

Thu, 10/20/2011 - 10:09 | 1792660 jdelano
jdelano's picture

you know you can go back and change it, right?

Thu, 10/20/2011 - 10:13 | 1792678 Janice
Janice's picture

Just playing change the arrow.

Thu, 10/20/2011 - 10:38 | 1792831 reader2010
reader2010's picture

Less than 15% of the population accounts for nearly 90% of non-discretionary spending, and  that's the trend. As Richard Russell wrote lately, "Strange, although crowds are gathering to protest the difference in income, this does not seem to register on XLY.  Wealthy people are still spending and buying whatever they want.  The chart below shows the erratic moves of consumer discretionary. 


The latest move is a break below the 200-day moving average.  That takes XLY below the preceding top.  Here in La Jolla, the latest fancy restaurant (valet is $8) is bustling.  For the most part, nobody is bringing home brown bags for dinner.  Dinner at Eddie V's can easily run to $80.  There's a recession on and people are rioting, but who cares except those who can't pay their bills. "


Thu, 10/20/2011 - 12:17 | 1793425 Temporalist
Temporalist's picture

You really should cite your sources when you steal stuff:


Richard Russel - This Market is One for the History Books

"Gold -- Despite daily warnings from amateur experts, gold continues to climb above its 200-day moving average (see chart below).  The last real correction occurred in 2009.  So far, gold has ignored the call for another correction.  Watch that 200-day MA, which stands at 1542."

Thu, 10/20/2011 - 10:03 | 1792637 Chuck Norris
Chuck Norris's picture

Is there an ETF to trade Hopium?  What symbol is it?  I think its a good short candidate.

Thu, 10/20/2011 - 10:10 | 1792662 buzzsaw99
buzzsaw99's picture

Thu, 10/20/2011 - 10:11 | 1792664 The Limerick King
The Limerick King's picture



We've entered the hopelessness age

Our freedom has turned to a cage

And those at the top

Unwilling to stop

Are about to unleash primal rage

Thu, 10/20/2011 - 10:13 | 1792673 mayhem_korner
mayhem_korner's picture


I don't think you've ever missed with a post, TLK.

Thu, 10/20/2011 - 10:16 | 1792696 The Limerick King
The Limerick King's picture

Thanks's nice to feel appreciated!

Thu, 10/20/2011 - 10:25 | 1792730 smithcreek
smithcreek's picture

I junked you because that's the first non-limerick post I've seen, don't want it to become a habit.  But I did up arrow the limerick.

Thu, 10/20/2011 - 10:48 | 1792883 The Limerick King
The Limerick King's picture



Thanks for the up arrow Creek

That non-limerick post sure was weak

It would make me smile

If once in a while

I'm permitted some non-limerick speak

Thu, 10/20/2011 - 12:40 | 1793543 smithcreek
smithcreek's picture



Thu, 10/20/2011 - 10:15 | 1792688 homersimpson
homersimpson's picture

It's called FAZ, but unfortunately there has been a lot more hope in it than I'd like to see...

Thu, 10/20/2011 - 10:16 | 1792693 DosZap
DosZap's picture

"how anyone can think housing will get worse from here is beyond me."

You were correct, IT IS beyond you.

Expect another 30-40% drop.

Thu, 10/20/2011 - 10:04 | 1792638 Irish66
Irish66's picture

Philly fed has been fiddled with

Thu, 10/20/2011 - 10:04 | 1792640 Trimmed Hedge
Trimmed Hedge's picture

I'm not feeling very comfortable reading this....

Thu, 10/20/2011 - 10:05 | 1792645 mayhem_korner
mayhem_korner's picture

according to Jim Cramer, who incidentally said back in May 2008 "how anyone can think housing will get worse from here is beyond me."

My "root cause" meter just pegged: we know the problem is FUBAR when folks like Cramer are employed.


But, the consumer is deleveraging we are told.

By "deleveraging," do we mean cutting back SSRI intake by 1/3 because they can no longer afford to dull their depression symptoms?

Thu, 10/20/2011 - 10:14 | 1792683 wisefool
wisefool's picture

Cramer is not dumb. Sell the hopium (taxable) on mad money, Then put sound money (gold) in his tax free charitable trust when the camera is not looking at his freinds and familiy.

And the casino stocks are down today. Must be some breaking news about the "Sushi Grade Tuna" in chinese fish farms really being tripe.

Thu, 10/20/2011 - 10:11 | 1792669 Belarus
Belarus's picture

And most companies are doing something that everyone wants to ignore: they are missing on the top line. AT &T, all banks, IBM, etc.....some by substantial amounts. You can only get efficiency and peak margins so high, but revenues are the lifeblood of any company and when they are falling in unision, which the market wants to ignore and would rather ramp the ES up 100 pts in nano-seconds based on the slightest uptick in the EUR/USD, things are indeed starting to deteriote.

But, heh, right now all that matters are rumors, failed plans, and innuendo.  

Thu, 10/20/2011 - 10:12 | 1792670 ZippyBananaPants
ZippyBananaPants's picture

Maybe Michelle Horseface Cabarara will go into the streets of Greece and get 'cornholed' Greek style!!

Thu, 10/20/2011 - 10:30 | 1792784 topcallingtroll
topcallingtroll's picture

I would do any of them

But I am in love with Maria Bartiromo. She is just so sweet!

Thu, 10/20/2011 - 10:12 | 1792671 ZippyDooDah
ZippyDooDah's picture

My crack pipe is all out of hopium.  Can you help a brother out?

Thu, 10/20/2011 - 12:24 | 1793463 Temporalist
Temporalist's picture

Switch to meth you can make it yourself in a gatorade bottle.  Or hillbilly qualudes:


Thu, 10/20/2011 - 10:14 | 1792679 nobusiness
nobusiness's picture

Hopium is becoming a rare earth element

Thu, 10/20/2011 - 10:14 | 1792680 Belarus
Belarus's picture

Oh, and isn't it just a bit wee strange that every index in the world is down but the U.S.? And almost every major heavey market cap weigthed stock is missing estimates. 

How does one short the CAC?

Thu, 10/20/2011 - 12:28 | 1793494 Temporalist
Temporalist's picture

DOW is down almost 100 now.

Thu, 10/20/2011 - 10:15 | 1792690 raki_d
raki_d's picture

Bought a Jim-Cramer costume for this Halloween
Trick for the savers, treat for debtors


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