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Wall Street Economists Once Again Prove Utterly Worthless As ISM Prints Below Lowest Expectation
There is nothing that needs to be said about this chart which compares the histogram of "expert" Wall Street predictions and the final outcome. Everyone was above the final number! All Wall Street economists should be immediately fired, and the money saved from their multi-million bonuses should be used to fund the US deficit (after all the banks they work for only exist courtesy to the US).
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Economists are worth every penny they earn
"Economists are worth every penny you earn"
Fixed it for you....
They have been completely accurate .... in misdirecting the public (which is their real mission).
Worthless Bitchezzzzzz!!!!!!!
Inflationary bloodbath will continue and get much worse 2012-2014 (QEs will continue)
Negative real interest rates as far as the eye can see.
No meaningful Cuts
Government continues to increase in size
More civil liberties raped away
More war
Increased gun restrictions
Amnesty for illegals (next on Obama's agenda, IMO)
@baby_BLYTHE
Pretty fair assessment of our current predicament. Real economy sucks, but FRB keeps paper assets inflated.
What I been sayin', baby_B.
THey screwed it up far worse than if they had allowed a contraction in 09. Then at least prices and debt would ahve come in line with incomes and emplyoment levels. The creative destruction would have permitted new entrants, fresh ideas, new industires and comeptition. INstead we have an aristocratic elite which is fighting to hold on to it's wealth and privilege, and to hell with anyone else.
It gets worse from here. Far worse
Gold
Yes, drinking harsh medicine in 2009 far preferable to swilling today's Kool-Aid.
He has to grant them amnesty to increase his voter base.
Baby Blythe....I normally love your comments. But you cn talk inflation all you want.
THIS EVENTUALLY ENDS IN NASTY NASTY DEFLATION, WHICH WILL BRING UPON THE DOWNWARD DEBT(DEATH) SPIRAL THAT DESTROYS THE ECONOMY.
They get garbage going in....and they get garbage going out. Standard throughput. Pretty logical really. Spinning the nightmare fantastic.
sing it!
Pink slips, please. Tens of thousands of banker pink slips...any second now...holding my breath...
Followed by "Nooses please. Tens of thousands of nooses."
At least HSBC is shedding 30k lol
Soft Patch....No Problem....Move Along......!!!
You can't have a con(fidence) game without con(fidence) men.
They don't get fired. They
And you cant have a confidence game when theres no one left to con.
There's one born every minute.
Well said, Dog. And that is the true problem with the equity markets...almost no participation. Remove the Bernank's trades and this would be much more apparent than it already is.
Our uber smart class of bankers have killed this market with their computers and the money printers behind them. This will go on for a few generations, I expect. The banker betrayal of 2008 will take a long time to forget. Until that memory is gone, they have but themselves to ping stocks back and forth to and from.
Way to go criminal syndicate Wall Street bankers! Good job!
Been breathing those fumes I see. This causes brain damage, this is the result. Like drowning.
Who had the 51.0 estimate???????
It's Now Global: HSBC CHina PMI, Taiwan PMI, Eurozone PMIs, UK PMI and now US PMI : a clean sweep of disapointments and in some notable cases outright contraction, Bitchez
The $16 Trillion slush fund gave us a 2 year reprieve, or rather, a masquerade party where the Depression looked like a recession. Party over.
What does "party over" mean in your eyes, Caviar?
What does "party over" mean in your eyes, Caviar?
I'm referring to the pig party that the Wall Streeters and well-connected corporatists have had since the obscene monetary and fiscal stimulus packages were unleashed. They gorged themselves on free money which is costing the country dearly not just in wealth, but ultimately in status, power and standard of living. So many got so wealthy off this crap but did it pull the country out of depression?
No. In fact what we're facing now is a far worse mess because it's going global and has sharp politcal ramifications. And here at home we get crushing biflation and the curse of a no entrenched elite who will continue to rob the nation's treasure and the middle class
I agree this is all bullshit, go ahead and announce $5 trillion QE, it fixes nothing! We're in a depression and printing money doesnt solve a bit of it, in particular in this case where only the top .01% see any of it!
QE not only fixes nothing, it accentuates the negatives: prices do not come into line with real incomes, employment levels and demand. And it short circuits capitalism's one key mechanism to right the ship: creative destruction through real competition. Instead we have an autocratic centralized economy. Many here call it socialism but it's not. It's crony capitalism which is one stepfrom fascism, where everything is sacrificed for the national cartels
They aren't trying to 'call' the market, the ISM or anything else. They are now all talking their Ponzi 'book'.
Everyone is so invested mentally and emotionally in the Ponzi that they must either support the Ponzi or re-examine everything. This is the classic all-or-nothing denial stage of the addiction, where near the end they must either support the insanity or face it.
CD
Are you a 'spiritual' man? Because I'm being overwhelmed with an urge to pray.
I think it's time for the world to meet The Spirit Molecule and try some Ayahuasca. Let the leaders go first. They will never be the same.
http://en.wikipedia.org/wiki/Ayahuasca
BTW for those who did not see it I posted a new article last night discussing addiction.
http://www.zerohedge.com/contributed/fiat-crack-addict-convulsing-and-headed-straight-dts
Or just slip em all a double dose of DMT straight. Maybe they can see some light when they all get a face to face with satan himself.
These would be meetings #2, where Satan collects on the deals made in meetings #1.
Yep, your usual bullshit.
Thanks CD, I missed the posting and I love your stuff...
@Cog Dis
Word. They are the enablers. As a zherohead blogspot alum, we've been waiting over 2 years for the return of reality. It looks like the central banker pixie dust has worn off and it's time to get back to the Grand Reset.
Theyre in denial of hitting rock bottom, memo to Ben- 'Stickin feathers up your butt does not make you a chicken'.
It is truly remarkable how long one can deny reality with a concerted effort to do so.
Perception is reality for as long as we can maintain the perception and ignore the consequences of that altered perception.
It's the "sunk cost fallacy".
http://en.wikipedia.org/wiki/Sunk_costs
Everyone is so invested mentally and emotionally in the Ponzi that they must either support the Ponzi or re-examine everything.
Very true, CD. But not me. And many here and fortuntely there are more of us out there. However the situation is dire because those in power support the Ponzi (I like to say Ponzi on!) They want more and more politicians to rally the sheep around the Ponzi so they can continue to gorge themselves on the national treasure and suck the marrow out of the middle class.
Meet The Ponzi Party : a new national party that actually wins elections and gets things done
"People are beginning to smell the credit cycle turning" ---- According to one Gary Shilling.
I'd just like to alter the quote a little: burning not turning. He was close though. See you on the other side where being an economist won't matter at all.
I robot
I Chinese robot
I come in peace
Show me your free trade area
Fucking paper-pushers continue to rape the productive people who bring goods and services of real value to the economy. The destruction of productive capital and real wealth continues as TPTB refuse to take their medicine in favor of preserving their power. Fine, crash the system, the sooner we do, the sooner compensation returns to people who are actually worth a shit. I can't not wait to put this economists to work on the farms across America now that we are sending illegals back to Mexico.
Many commentors are correct, QE will continue, but with a decreased impact on equities and a huge impact on PMs until capital controls, price controls, and confiscation is announced. The currency and trade wars continue until goods and services stop crossing boarders. Read a history book for a change, we all know what comes next.
I think its about time we see some BOJ intervention in a big big way! Long USD/JPY at 76.50, let's see if I am right.
Yes, yes......time to get long the FRN because the rest of the world is worse...no way BOJ leaves USD/JPY down here for long....they will pump it up!!!!!!!
Priceless. This will be hilarious if the DOW is down on a passed debt deal.
Worst economy in 50 years yet the SPY is still off less than 6%???
WTF???
http://bigcharts.marketwatch.com/charts/big.chart?nosettings=1&symb=spy&...
Sure, It only cost $3 trillion to prop it up. Great deal.
'tards coolness is turning to anger as the market doesn't perform as he commands. he sold the only winner he had - silver eagles - only to see them retrace higher than where he sold them. if you hear a crash somewhere in los angeles it might be the 'tard slamming his 4 monitors on the ground as he vents his frustration.
Tard sold all his PM's about 15% lower. Just sad to see his personal trainwreck.
looking down the barrel of 125% Dept to GDP ratio
A quick calculation last night. At the rates of 7% debt growth and 2% GDP it will be +250% in 20 years. Someone can double check that.
I'd only throw in the acceleration factor, as time goes on it gets exponentially worse at an ever faster more terrifying rate.
IMO, that is a conservative 'best case' scenario. It requires a stable GDP without QEn. Haha... Yeah right.
ISM. Supply-side manufacturing... of course it is trending downwards, month after month. Where are the buyers? And which crap will they choose? American? Who? Is services manufacturing now?
NUMBers anyways.
Aaaaaaaaaaaaiiiiiiiiii iiiiiiiiiiiiiiiiiiiiiiiiii have become...... cumfurtably NUMB!
ORI
http://aadivaahan.wordpress.com/2011/07/30/pre-cursor-01/
World record unemployment among young post-grads in history.
Yet they can still afford $125 jeans?
I'm speechless.
http://bigcharts.marketwatch.com/charts/big.chart?nosettings=1&symb=anf&...
If youre so speechless, then STFU!
You do realize A&F clothing is actually considered quite cheap, and definitely not a premium brand.
the next thing ya hear might be the 'tard telling us he shops at talbot's. or the tweener stores.
got skirts?
Robo loves sequined jeans. Pink unicorns are his favorite.
Congratulations ZH on your ISM call. Most impressive.
Eclown'o'mists!
eCONomists. In metals "we" trust.
They can still be used as the criterium for truthfulness, whatever they say being wrong.
When the captain of a sinking ship (the USS America) can convince the passengers and crew, the required action is to take on more water, there is no hope.
Yeah, another sharp by call by Tyler who predicted ISM 50.
hey guys. so, whats going on?
Nah, none of this adds up. Time for false flag attacks. Interestingly enough the Pentagon over the weekend announced Iran can now reach the east coast US with nukes. False flag attacks, quite terrible ones needed, then WW3, and just when everyone was convinced all is well because we got more free imaginary money.
Pick an upset iranian in good physical shape and he might throw a suitcase.
401k advisor implored my family members not to pull their money from stock holdings last week. Swore that the market would soar upon debt resolution---oops
They check the median forecast first and then send their 'own', which shamelessly agrees with the one of their competitor down the road. Then the original one comes in and chips in a 56 forecast... Fuckin' idiots, whooaaaa-ha-ha-ha-ha!
Haha! Brian Westbury.
Your government just brought you the next round of collapsing economy, collapsing wages, more job losses, collapsing dollar value
...and rising prices on everything you need.
...except housing. Welcome to the next round of housing collapse.
Carry on. Have a nice day.
Leo, you have officially taken over from Harry Wanger as the resident ZH first class wanker! Go have lunch with one of your "lame" friends!
Insanity is doing the same thing over and over and expecting a different outcome. More QE=INSANE!
Who was offering the 51 estimate?
What do you mean, worthless? Who else is going to lead the wildebeasts to the croc-filled river? That tard Leo?
The Wall Street economists did a fine job on that one. Earned a whole year of their pay in one day.
tyler puts a piece about the ISM being a 4-5 sigma black swan to the "economists" and freaking leo complains about censorship!
please renew my "subscription" and keep whatever is leftover, ok?
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