Trifecta Of Economic Horror: Trade Deficit Explodes To $46.3 Billion, PPI Rises Above Expectations As New Jobless Claims Surge

Tyler Durden's picture Submitted by Tyler Durden on 10/14/2010 07:39 -0500

China Trade SurplusContinuing ClaimsGross Domestic ProductTrade BalanceTrade Deficit

Today’s economic data avalance is a trifecta of horror: the August trade balance came at – $46.3 billion (deficit, duh), on expectations of $-44.0 billion, with the previous revised to ($42.6) billion. This is the second highest trade deficit in years. This also means the Q3 GDP will be revised lower again. Oh yes, and Schumer is currently frothing in the mouth as the trade deficit with China was at a record $28 billion, as expected based on the reverse lookup from yesterday’s China trade surplus (which dropped). Elsewhere, PPI came in at 0.4%, on expectations of 0.1%: congratulation Ben, you have your inflation, as the bulk of the increase was in food and gas. PPI ex Food and Energy was 0.1%, in line with expectations. Lastly, jobless claims surge from 445K to 462K, with the prior number revised higher for the 24 out of 25 times. And speaking of revisions, the prior week Continuing Claims number was revised from 4,462K to 4,511K: yes stunning, we know. Those on Extended and EUC claims plunge by 340,000 for the week ended September 25, taking away a few more pips from GDP. All in all, this further cements the economic suicide that is QE2.

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by Turd Ferguson
on Thu, 10/14/2010 – 07:43
#648774

I see that the EE is going to try to paint the tape with another reversal day today. These numbers certainly won’t help their cause.

Gold overnight high of 1388. Silver reached 24.95! Blythe didn’t sleep too well, that’s for sure. I wouldn’t want to be slow to get her coffee this morning.

Login or register to post comments by eigenvalue
on Thu, 10/14/2010 – 07:57
#648822

Gold and silver have been knocked down. Guess $1400 and $25 won’t be breached this week.

Login or register to post comments by Turd Ferguson
on Thu, 10/14/2010 – 08:01
#648835

It was unlikely, even last night. 

If recent history is a guide, I’d say probably Tuesday. Rangebound from 1350-1400 through next week and into the last week of the month. The next leg up should take us to 1440 or so.

Login or register to post comments by Clark_Griswold …
on Thu, 10/14/2010 – 08:07
#648857

Pre market saw gold at 1384…. yikes, can someone call Bennie and ask him to have the boys at JPM short a little more; I’d like to add to my position one last time…

Login or register to post comments by Instant Karma
on Thu, 10/14/2010 – 08:20
#648915

What do you guys make of this. I went to check my safe deposit box at a bank, and, due to a change in “filing,” the bank had lost the paper I sign into the vault with. Then, they could find no record of my box on their computer, because they said that some boxes opened in the past year had been “spit out” of the system. So, there was no evidence at the bank that my safety deposit box belonged to me, at least yesterday. Fortunately, one of the tellers knew me, and I was able to remove my little stash of precious metals. Very strange. Is there a conspiracy here?

Login or register to post comments by egdeh orez
on Thu, 10/14/2010 – 08:36
#648967

You look at the economic numbers posted today and you realize how harmful Ben Bernanke’s policies have been.

Login or register to post comments by DollarMenu
on Thu, 10/14/2010 – 08:37
#648970

 

i had a similar experience a couple of years ago with B of A.

They were closing the old vault area and building a new, smaller one.

When I came to visit my stuff at the old area,

I found that they had ‘lost’ all the signature cards.  

The key to my box and a driver’s license established

my right to enter, and the basis for a new sig card.

Very odd, and sloppy for a bank, but sign of the times…

or something else at work here?

Login or register to post comments by FEDbuster
on Thu, 10/14/2010 – 10:03
#649245

Wait till you pay off your mortgage, and you ask them to convey the deed of trust/title to you.  “You want what? A thrity year old piece of paper! ha, ha, ha, ha…”

Login or register to post comments by Ned Zeppelin
on Thu, 10/14/2010 – 10:36
#649348

Actually, you own your property – you’ve got a deed soemwhere, and if not, there’s one on record at the county.   Also, hopefully you have your title insurance policy somewhere gathering dust in your settlement file that insures the fact that you own the property free and clear of all liens and encumbrances other than those that are OK, such as phone, cable and powerline easements, and declarations of restrictions if you live in a planned community, and of course the first lien to the TBTF or shady mortgage outfit that originally financed your purchase of the home.

Now when you’re done paying, or refi-ing, if you are following ForeclosureGate, the issue then is getting the mortgage satisfaction issued by the party that actually owns your mortgage.

Of course, that also assumes you’ve been making your payments to the party that actually owns your mortgage.

Login or register to post comments by Return2Sanity
on Thu, 10/14/2010 – 09:04
#649069

Speaking of bank records, we had an odd little experience too, about a year ago. We received a summary our mortgage payment history in the mail, and there was a $25 unpaid late fee listed among the transactions from 2007. Now, we never paid late, we never received any such late notice at that time, and this summary we received wasn’t a late notice itself, it was just a detailed history of transactions. So, we called and asked what the deal was with the late fee and they say, “Sorry our records don’t go back that far, so we’ll just remove that charge.” It really makes you wonder.

Login or register to post comments by optimator
on Thu, 10/14/2010 – 09:44
#649194

No conspiracy.  I went to a local bank to negotiate a C.D., doing the math percentages in my head.  The person I dealt with dealing with told me to “Slow down, I’m not very good at math”.  These days when you go to a bank to get some change you better count it. 

Login or register to post comments by eigenvalue
on Thu, 10/14/2010 – 08:21
#648917

You still have cash? I have already put it in cotton and gold. I’m thinking of buying some silver but I have no money now. Perhaps I should sell one of my kidneys on Ebay and buy it back when I make money from silver…

Login or register to post comments by breezer1
on Thu, 10/14/2010 – 09:19
#649108

you should have not missed that biology class.

Login or register to post comments by Goldenballs
on Thu, 10/14/2010 – 07:42
#648775

When all around disaster lurks crap your pants and disappear or check your stash of Gold and Silver.

Login or register to post comments by Cruel Aid
on Thu, 10/14/2010 – 07:44
#648778

The market is blind to the horror, 10 minutes in. Maybe the market is retarded.

Edit: Challenged, sorry.

Login or register to post comments by unwashedmass
on Thu, 10/14/2010 – 07:47
#648786

 

nah, its the usual….the politicians — in their supreme wisdom, believe if the market is up, everything is alright….schmucks that they are, they believe Wall Street will game anything, except them…..they tell the truth the Congress…..

so, what we have in the markets is a private show being put on for the Congress by Wall Street…..

as long as the market is up, no one really, truly believes the country is standing on the edge of the abyss……

except retail money which is still moving out ….faster than their tiny legs can carry them…

Login or register to post comments by tunaman4u2
on Thu, 10/14/2010 – 07:47
#648790

Market is up because of dollar being CRUSHED right now… data showing that QE2 would be suicide SHOULD make USD rise. Fed already says more printed money won’t help jobs.

 

 

Login or register to post comments by cougar_w
on Thu, 10/14/2010 – 11:31
#649562

Challenged will get you in trouble, too.

Special. As in Special Olympics.

Login or register to post comments by papaswamp
on Thu, 10/14/2010 – 07:44
#648779

Did you see the NSA UnEmployment number?! +75,000?! I think that is the highest 1 week pop in a decade (2005 had one of +67,000).

Login or register to post comments by A Man without Q…
on Thu, 10/14/2010 – 07:45
#648780

Second highest trade deficit on record given the state of the economy is just fucking staggering.  I remember when people pointed out that the Greek government’s stimulus program was fueling the trade deficit as they simply didn’t make what people were buying.

Of course, markets still slightly higher pre-open…

 

Login or register to post comments by Turd Ferguson
on Thu, 10/14/2010 – 07:46
#648782

Is there any wonder why we’ve now had 24 straight weeks of outflows??

Login or register to post comments by Clark_Griswold …
on Thu, 10/14/2010 – 07:56
#648820

yeah but with news like that, Dow 12,000 by tomorrow, around 10:31-ish give a take a few pomos

Login or register to post comments by A Man without Q…
on Thu, 10/14/2010 – 08:02
#648845

I’m still pretty long stocks (though nothing US centric, mainly miners) and yet everyday for the last month, I have felt sick to see the market rise.  Yesterday I was staring at my portfolio feeling miserable, despite the fact it had gone up enough to buy a seriously nice car.  I had to slap myself and look at the upside, but all I see is a horror story approaching fast. 

I am not American, but I know many, decent hardworking Americans and they haven’t realized how badly they’ve been fucked by the elites.  These people think that as long as you can control the media and the stock market, they can do whatever they want behind the scenes.  

It’s almost got to the stage where the best thing that could happen to the country is a military coup.

Login or register to post comments by tmosley
on Thu, 10/14/2010 – 10:20
#649285

Convert your stocks into physical gold and silver and you will feel better.  I know I do.

Login or register to post comments by Cognitive Dissonance
on Thu, 10/14/2010 – 08:05
#648850

So can someone please explain to me the sudden wisdom being displayed by the supposed clueless investor class? Not being sarcastic here, but the “smart” money has supposedly manipulated the “dumb” money for centuries.

Why all of a sudden has the dumb money become smart? Or is it still dumb but scared? Because if the system collapses, all “money” no matter where it is held (forget about PMs for the moment because they aren’t widely held) will becomes worth a lot less than it was before it became “smart”.

I don’t really see this being discussed here on ZH, only that it is fleeing.

Login or register to post comments by A Man without Q…
on Thu, 10/14/2010 – 08:21
#648921

I remain convinced that the route to hyper inflation lies through attempts to stave off the deflationary collapse.  I still think we have at least one more downwave (banks will pull liquidity as a consequence of the housing chaos) and then people need to buy assets when the Fed prints $5 trillion.  I think forget gold and silver, these have flown.  

Login or register to post comments by Clark_Griswold …
on Thu, 10/14/2010 – 08:28
#648943

forget gold and silver, these have flown.  

so then what, farm land, crops, and lead?

Login or register to post comments by A Man without Q…
on Thu, 10/14/2010 – 08:49
#649021

Finest quality whisky, coal miners (thermal better than coking coal), fertilizer companies, lumber, sugar…. best things are essentials with constrained supply…. 

Login or register to post comments by Cognitive Dissonance
on Thu, 10/14/2010 – 08:54
#649032

so then what, farm land, crops, and lead?

“Human” capital, as in slaves. Big growth opportunities, particularly if you can cut a deal with the FEMA camp commandant to fill your raw material orders cheaply.

Hey, it worked for a few hundred years so why not again?

Sadly I don’t know if I’m being sarcastic or realistic.

Login or register to post comments by Clark_Griswold …
on Thu, 10/14/2010 – 09:04
#649065

I’m afraid to say both.

Login or register to post comments by tmosley
on Thu, 10/14/2010 – 10:26
#649320

Slaveowners tend to be brutally killed (note this is not murder) in slave uprisings.

Violation of natural rights will inevitably lead to depravity and violence.

Login or register to post comments by Punderoso
on Thu, 10/14/2010 – 11:23
#649540

“Slaveowners tend to be brutally killed”

Really, that is funny I haven’t seen any of that happen to our bureaucrats, politicians, or bankers.

Login or register to post comments by Trifecta Man
on Thu, 10/14/2010 – 09:27
#649139

The banks determine their wealth by FRNs.  So when the stock market goes up, and they channel money into it to make this happen, it increases the bankers’ wealth when the stock market goes up.

I’m guessing that you are in a quandary over why the dumb money is investing in the stock market, when it based on fictional accounting and the dumb notion that less workers in the long run is equal to more profits.  What choices do they have in their 401K plans to put money into?  Bonds are in a stupid bubble and low interest paying.  Stable Value is the safest, but doesn’t make up for the devaluing currency.  Real estate is in trouble.  Stocks are the only alternative, if you want a chance at a good gain.  Many company 401k plans offer nothing else.

The public is generally not aware of the potential of a currency collapse.  And the public will have their liquid investment savings in retirement plans.  They think twice before taking it out too early due to tax penalty.  So they leave the money in there and make do.  Many in stocks there are just diversifying, as financial literature and advisers constantly remind them to do.

My former company plan finally gave us a “real asset” fund.  I looked at it, and 50% of the investment is now in TIPS.  That’s a crock.

I use my “dumb” stock money to invest in foreign PM miners and similar, food stocks, an emerging market bond fund, and a few Chinese growth prospects, and some minor base metal or energy companies.  I’m not traditionally diversified.

Think of this.  If the banks own stocks, and they got the politicians in their hip pocket, the only way they they get out of their position is to sucker the vast public into taking it off their hands.  And since the public is largely scared, that may not occur as soon as you expect.  Meantime there is money to be made in the right sectors.

Incidentally I’m not so dumb that I own bank stocks.  Would never do so.

Login or register to post comments by Biggvs
on Thu, 10/14/2010 – 09:33
#649157

Perhaps the dumb money isn’t suddenly smart. Without a regular paycheck coming in, maybe they’re forced to liquidate a little every month to pay the iPhone bill.

Login or register to post comments by Founders Keeper
on Thu, 10/14/2010 – 09:40
#649179

[Why all of a sudden has the dumb money become smart?]

CD.

I agree.  It is perplexing.

The outflows suggest retail investors are gripped with fear, instead of greed.  My guess, people are running out of money.

 

 

Login or register to post comments by happybob007
on Thu, 10/14/2010 – 09:42
#649186

A certain amount of the retail money is leaving in response to prolonged unemployment and underemployment.  I suspect that is the root cause of most of the retail withdrawls.

Another possibility is that those of us who are paying attention and talking to our friends and family are actually being able to help them.  Many of these retail investors got hammered in the spring of 2009, but their portfolios are getting back close enough to the top that our telling them about the flash crash(es) and what that means in terms of them being able to get out the next time they want to sell in a hurry.

I know that these events and my explaining them helped my folks to decide to pull most of their holdings out, even without knowing where to move it to next.  Not even I like the idea of tying up most of it in short term CDs at the local credit union, but it seems like the best not-playing-chicken-with-the-Fed strategy to adopt when the people in question are in their 60s.

TL;DR: the dumb money is caching out month by month in order to continue making their house and car payments and to keep eating.  Maybe some portion of the retail investor is leaving because they can see that the game is rigged.

Login or register to post comments by FEDbuster
on Thu, 10/14/2010 – 10:10
#649257

CD, I think the old saying, “Fool me once shame on you, fool me twice shame on me” explains the withdrawl of non-401K investment money.  I would like to see an age distribution chart of the withdrawls.  My guess is the 60+ crowd isn’t going to go for one more ride on the rollercoaster.

Login or register to post comments by tmosley
on Thu, 10/14/2010 – 10:46
#649403

They have given up on playing the game.  Much like Global Thermonuclear War, the only way to win is not to play.  The “dumb” money doesn’t necessarily realize this.

But of course, since they don’t really know what is going on, they will lose out in the end as the smart money exits via PMs rather than cash and/or goods needed for survival.

Login or register to post comments by cougar_w
on Thu, 10/14/2010 – 11:45
#649623

The wheels are set to come of. Everyone is feeling it, nobody is talking about it. Lots of people are acting on their gut expectations even if they aren’t making a big deal about it, the latter in part because they might be wrong and in part because even if they are right they don’t want to be seen as swimming against the tide and in part because it is dangerous to contemplate the end of the world as we knew it. We understand instinctively that to speak its name is to summon it.

 

It’s one of those The Wisdom of Crowds moments, with a bit of black terror thrown in.

Login or register to post comments by Dagny Taggart
on Thu, 10/14/2010 – 07:49
#648798

No, it will be different this time. Its never different, until it is. Exponentially.

Login or register to post comments by UninterestedObserver
on Thu, 10/14/2010 – 07:46
#648783

Black swans bitchez

Login or register to post comments by Goldenballs
on Thu, 10/14/2010 – 07:47
#648785

Rationality,honesty,fear and common sense play no part whatsoever in the markets.They are banned by official decree forthwith.

Login or register to post comments by Thunder Dome
on Thu, 10/14/2010 – 07:47
#648791

Buy whiskey!!!

Login or register to post comments by papaswamp
on Thu, 10/14/2010 – 07:51
#648805

Buy a still and make your own. That is my next purchase.

Login or register to post comments by hedgeless_horseman
on Thu, 10/14/2010 – 08:09
#648863

http://www.coppermoonshinestills.com/

Get in (the very long) line.

Login or register to post comments by papaswamp
on Thu, 10/14/2010 – 08:25
#648931

Yep that is the place..I almost bought one last year…kicking self. there are a couple on e-bay, but low quality.

Login or register to post comments by Hulk
on Thu, 10/14/2010 – 08:38
#648972

Build your own

http://homedistiller.org/

Login or register to post comments by Cognitive Dissonance
on Thu, 10/14/2010 – 08:56
#649040

I remember many moons ago that you mentioned you had just completed your own.

How have the hangovers been? :>)

Login or register to post comments by tmosley
on Thu, 10/14/2010 – 07:52
#648806

I’m trying, but it disappears as fast as I buy it.

Must be sleep-drinking, because every morning I wake up and look at Zerohedge, I want to throw up. 

Login or register to post comments by Sudden Debt
on Thu, 10/14/2010 – 08:11
#648871

FINALLY SOME GOOD AND SOUND ADVICE!!

 

Login or register to post comments by frankTHE COIN
on Thu, 10/14/2010 – 08:43
#648993

In prison Bernanke can make toilet wine.

Login or register to post comments by Cognitive Dissonance
on Thu, 10/14/2010 – 09:31
#649148

Bernanke will die in the bunker with the other top stooges and front men.

A few minor officials and talking heads will be put on trial to soothe the few savage beasts who can find the strength to wander from the bread lines to witness the trials live and in color on the TeeVee.

Brought to you (or course) by GE. “Where good things are brought to light”.

Login or register to post comments by MarketTruth
on Thu, 10/14/2010 – 07:48
#648792

And CNBCBS will say at 4pm, as the market closes ~1% up for the day, that the market shrugged of the bad numbers as they see promise in the continued improvement in the economy.

The system in not broken, it is totally manipulated with out of control by the PPT and the Federal Reserve with their retail arms JPM, GS, etc. Dollar ‘value’ to the gutter and Dow to 14,000.

Login or register to post comments by dashingdwl
on Thu, 10/14/2010 – 07:48
#648794

Rally on folks.  Ben is guaranteeing that he is going to buy shit paper from the $140B dollar men later this Fall.  Bank on it.

Login or register to post comments by Chris Jusset
on Thu, 10/14/2010 – 07:52
#648809

Bernanke is the root of all evil.

Login or register to post comments by Miss Expectations
on Thu, 10/14/2010 – 08:56
#649041

Love of Bernanke is the root of all evil.

Login or register to post comments by doomandbloom
on Thu, 10/14/2010 – 09:53
#649216

my twin ..!

Login or register to post comments by SheepDog-One
on Thu, 10/14/2010 – 08:06
#648854

The surprise is there will be no Q/E2.

Login or register to post comments by Sean7k
on Thu, 10/14/2010 – 07:49
#648796

Tyler, maybe the Simpson’s can do something with this title for their halloween spectacular?

Login or register to post comments by lizzy36
on Thu, 10/14/2010 – 07:49
#648797

Up 2% today on QE2 being a Krugman like $5T (to be fair Krugman would like QE2 to be $8-$10T because apparently the Nobel commitee gives prizes to Zimbabwesque PH.d Economists)

Definity and Beyond.

Login or register to post comments by AccreditedEYE
on Thu, 10/14/2010 – 08:00
#648833

+1  I’m getting really sick and tired of these bearded fools pushing us into economic suicide. I would normally ask “when will these fools realize the end doesn’t justify the means”, however I now believe they know exactly the kind of economic terrorism they are promoting.

For God’s sake, just bring the One World Government and let’s be done with this…. BS.

Login or register to post comments by SheepDog-One
on Thu, 10/14/2010 – 08:49
#649016

Yes… ALMOST makes you conclude theyre doing it on purpose all along? Planned economic destruction in order to bring in 1 world govt, 1 world currency….NAH thats just ‘kook theory’, lol.

Login or register to post comments by Shameful
on Thu, 10/14/2010 – 08:34
#648960

Krugman is playing it smart, he takes the biggest craziest number he thinks anyone might use then doubles it.  It means that when it falls flat on it’s face he always has the argument “it wasn’t big enough”.  He’s a con man but he’s not stupid.

Login or register to post comments by FEDbuster
on Thu, 10/14/2010 – 10:45
#649309

The Robert Mugabe Prize for Economics is awarded to Paul Krugman today.  The paper chained necklace features a hand carved wooden image of President Mugabe.  When asked what the z$100 Trillion dollar prize money means to him? Dr. Krugman replied, “No comment”.

Login or register to post comments by HedgeFun
on Thu, 10/14/2010 – 07:49
#648799

Coming soon to a theatre near you….”Trifecta Of Economic Horror”

Ticket:  $2,375 each
Popcorn:  $1,275 (small)
Something to do while out of work:  Priceless

Login or register to post comments by doolittlegeorge
on Thu, 10/14/2010 – 07:50
#648800

and right on time comes “recovery.”  See ya’ later Benny and the Printo-crats.

Login or register to post comments by deez nutz
on Thu, 10/14/2010 – 07:50
#648801

negative feed back loop?  seek the cheapest cost and don’t worry about tomorrow

Login or register to post comments by Caviar Emptor
on Thu, 10/14/2010 – 07:50
#648802

As the crumbling continues all around, only gold shines out like a ray of sun in the darkness.

Login or register to post comments by strenue
on Thu, 10/14/2010 – 07:50
#648803

Now what, Bennie?

Login or register to post comments by Cognitive Dissonance
on Thu, 10/14/2010 – 08:01
#648837

More steam! Give me more steam.

Bring the rest of the boilers on line. I want to make NY by daybreak. Damn the icebergs, full speed ahead.

Login or register to post comments by Miss Expectations
on Thu, 10/14/2010 – 09:03
#649059

The sad story of Frederick Fleet, the man who saw the iceberg:

http://www.webtitanic.net/fleet.html

Login or register to post comments by FEDbuster
on Thu, 10/14/2010 – 10:29
#649324

The classic and missed Harry Chapin:

Login or register to post comments by crzyhun
on Thu, 10/14/2010 – 07:51
#648804

Add to this the horrible atmosphere for the $$ and well the stock market will rise, it has to. But once the QE II comes in watch the profit taking…..

Login or register to post comments by monkeyfaction
on Thu, 10/14/2010 – 07:52
#648807

If I were Ben Bernanke I would wait until November and then anounce just 1 million dollars of QE2 quantitative easing, Dr Evil style.

A potential comedy moment like that only comes once in a lifetime.

Login or register to post comments by Goldenballs
on Thu, 10/14/2010 – 08:01
#648836

Even better I,ve lost my cheque book and pen,QE2 cancelled.

Login or register to post comments by Movermike
on Thu, 10/14/2010 – 07:52
#648808

Actually, we have has trade deficits above $60 billion.  This is not a record or even close.

Login or register to post comments by HedgeFun
on Thu, 10/14/2010 – 07:53
#648811

Hahaha…dr evil style.  Nice one

One millllllllllllion dollars.   I mean…I hundred billion dollars…..

Login or register to post comments by Goldenballs
on Thu, 10/14/2010 – 07:53
#648812

I think Disfunctional is the correct term as in not reflecting reality in any way possible,Scarey stuff,on top of Scarey stuff on top of even Scarier stuff.Bit like playing Poker with a crap hand,the pot getting higher and higher,knowing that when the pot reaches unaffordable proportions someone is going to call your bluff.

Login or register to post comments by john_connor
on Thu, 10/14/2010 – 07:53
#648813

QE 1 aftershocks are now busting thru the manipulated data.

QE = higher input costs, higher unemployment, trade wars, and then world war

Login or register to post comments by I am more equal…
on Thu, 10/14/2010 – 07:54
#648816

Watch Zombieland and get the new rules of engagement for the life that awaits us all. 

Save those twinkies!

Login or register to post comments by Caviar Emptor
on Thu, 10/14/2010 – 07:54
#648818

Dear Ben: Send check $7.5 Trill, yours sincerely, Bankster Asscn of America

Login or register to post comments by bada boom
on Thu, 10/14/2010 – 07:57
#648824

“Nothing is fucked up here, Dude.”

Login or register to post comments by Cognitive Dissonance
on Thu, 10/14/2010 – 07:59
#648831

Said the man with a knife in his back and the unfinished frontal lobotomy. :>)

Login or register to post comments by the not so migh…
on Thu, 10/14/2010 – 08:46
#649006

Thats hillarious

 

Login or register to post comments by Sancho Ponzi
on Thu, 10/14/2010 – 07:59
#648830

At this point in the game only hyperinflation would drive up the price of real estate. Household income determines the average price of a home, not liquidity. Bernanke is freaking clueless. 

Login or register to post comments by Caviar Emptor
on Thu, 10/14/2010 – 08:04
#648849

Hyperinflation and hyperventilation

Login or register to post comments by aheady
on Thu, 10/14/2010 – 09:15
#649101

Seriously.

Login or register to post comments by sweet ebony diamond
on Thu, 10/14/2010 – 08:10
#648869

I want to know if Bernanke is an alien.

It is the only reasonable explanation left.

Login or register to post comments by Boilermaker
on Thu, 10/14/2010 – 08:06
#648851

Futures are UP!

Evidently…nobody gives a fuck!

Login or register to post comments by Cognitive Dissonance
on Thu, 10/14/2010 – 08:10
#648868

That’s gonna be one hell of a rush to the exits when they suddenly do give a fuck.

You know that’s gonna happen, right? It always does. The illusion stands only for so long before collapsing. And then it’s replaced with the next.

Login or register to post comments by SheepDog-One
on Thu, 10/14/2010 – 08:12
#648876

No one IN the markets except big dumb Bennie and his Inkjets. Their plan was to pump and pass off to retail. Not happenin. I dont care what anyone says, THIS was not how they thought their hand wringinly evil plot would turn out, AT ALL! No, the FED never imagined it would be sitting on about $5 trillion worth of stocks and MBS garbage with no one to dump it to. USA now on full blown false flag diversion alert.

Login or register to post comments by Boilermaker
on Thu, 10/14/2010 – 08:48
#649012

I would have preferred “mustach twisting sinister plot”…but

Login or register to post comments by Bob
on Thu, 10/14/2010 – 08:20
#648912

They play it all the way up (except for the insiders who continue to liquidate their shares in mindboggling numbers) and the banks position themselves to short it when the plug is pulled. We’ve seen it before.

Don’t think for even a moment that Big Money doesn’t  care.  They just await the memo from their buddies at the Fed. 

Login or register to post comments by SheepDog-One
on Thu, 10/14/2010 – 08:25
#648932

Short it to whom? 

Login or register to post comments by Boilermaker
on Thu, 10/14/2010 – 08:49
#649020

FRBNY.

Login or register to post comments by SheepDog-One
on Thu, 10/14/2010 – 09:20
#649112

Oh, well that’ll surely help them dig out of their hole by digging it far deeper.

Login or register to post comments by Boilermaker
on Thu, 10/14/2010 – 09:30
#649146

Well, they have to care about the depth of the hole first before they attempt to ‘dig out’.

Login or register to post comments by Clark_Griswold …
on Thu, 10/14/2010 – 10:56
#649444

“shovel ready projects”

Login or register to post comments by Eldo
on Thu, 10/14/2010 – 08:10
#648870

Bernanke like an actor that wandered off set and finds himself in the real world — Tropic Blunder.

Login or register to post comments by SheepDog-One
on Thu, 10/14/2010 – 08:13
#648878

LOL, good one!

Login or register to post comments by Sunshine n Lollipops
on Thu, 10/14/2010 – 08:12
#648877

“the bulk of the increase was in food and gas.”

 

So what. There’s no reason people can’t carpool to the grocery store. Plus, shoplifting in groups works so much better.

At least in my experience.

Login or register to post comments by bada boom
on Thu, 10/14/2010 – 08:19
#648911

Yeah, and we can also eat are own shit.

Login or register to post comments by system failure
on Thu, 10/14/2010 – 08:14
#648882

WTF THE RECESSION ENDED IN JUNE 2009, at least that is what they said. HOW CAN THIS BE????? LOL

Login or register to post comments by Sudden Debt
on Thu, 10/14/2010 – 08:42
#648986

didn’t you got the memo?

 

Login or register to post comments by BurningFuld
on Thu, 10/14/2010 – 08:15
#648885

I’m going with the forward slash shaped recovery.    \  

Note: In this analogy “forward” should not be taken to mean anything positive.

Login or register to post comments by system failure
on Thu, 10/14/2010 – 08:16
#648889

TRIFECTA HORROR = AND THE FREAKING MARKET WILL BE UP UP UP UP UP UP UP UP UP UP UP UP and AWAY………

Login or register to post comments by tom
on Thu, 10/14/2010 – 08:19
#648903

actually gas prices fell in september. that increase in “food and energy” was all due to a sharp increase in food prices. which, of course, is nothing anyone who sets economic policy should worry his pretty little head about.

Login or register to post comments by SoCalBusted
on Thu, 10/14/2010 – 10:35
#649345

The October numbers will be very interesting.  Gasoline is up around 15 cents/gal here in just a couple of weeks.

Login or register to post comments by Heroic Couplet
on Thu, 10/14/2010 – 08:20
#648913

There was a recent bill in Congress to end tax breaks for corporations that send US jobs offshore. Republicans voted against it, so don’t get too excited about jobless claims. Just ask any Republican to go to the smallest of small towns in their states, where they won’t be recognized, and look for jobs. Take Faux News, and show us how long it takes.

Login or register to post comments by SheepDog-One
on Thu, 10/14/2010 – 08:27
#648940

Whoa, now we’ve got Huffington blog political whores on zerohedge? That signals peak pump. Get out now.

Login or register to post comments by GoingLoonie
on Thu, 10/14/2010 – 09:26
#649136

Common SheepDog-One let’s be honest here.  The Dollar index was 121 in July 2001 and smart people started buying gold because W announced a strong dollar policy.  The decline started by Daddy (GHWB) continued.  The index spent most of 2008 at 73 until pumped up to a formidable 79 for the election.  And Gold?  Suggest you see the 10 year graph of Gold on Kitco.com (tried to place it here but was unable.)  But, basically gold went from about $280 a troy ounce in 2000 to about $1000 in 2008.  For simplification we will call this a 4 fold increase.  

Now let’s sum it up.  In 8 years of W the stock market dropped about 40%, The dollar relative to gold dropped about 75%, and for the “we love fiat group” the dollar relative to other “western culture” currencies dropped 40%.  Now what do you not get about the 8 years from hell W?  Now to make you feel better I will add, it is no better now.  We (those of us naive enough to believe in our Government voted for change.)  Yet, we got no change the baton march of dollar destruction continues unabated with the full knowledge of the “money changers” in power.  That is why I am going loonie.

 

Login or register to post comments by GoingLoonie
on Thu, 10/14/2010 – 09:33
#649154

Common SheepDog-One let’s be honest here.  The Dollar index was 121 in July 2001 and smart people started buying gold because W announced a strong dollar policy.  The decline started by Daddy (GHWB) continued.  The index spent most of 2008 at 73 until pumped up to a formidable 79 for the election.  And Gold?  Suggest you see the 10 year graph of Gold on Kitco.com (tried to place it here but was unable.)  But, basically gold went from about $280 a troy ounce in 2000 to about $1000 in 2008.  For simplification we will call this a 4 fold increase.  

Now let’s sum it up.  In 8 years of W the stock market dropped about 40%, The dollar relative to gold dropped about 75%, and for the “we love fiat group” the dollar relative to other “western culture” currencies dropped 40%.  Now what do you not get about the 8 years from hell W?  Now to make you feel better I will add, it is no better now.  We (those of us naive enough to believe in our Government voted for change.)  Yet, we got no change the baton march of dollar destruction continues unabated with the full knowledge of the “money changers” in power.  That is why I am going loonie.

 

Login or register to post comments by Clark_Griswold …
on Thu, 10/14/2010 – 10:58
#649451

News flash, Dems still control both chambers…..

Login or register to post comments by Trifecta Man
on Thu, 10/14/2010 – 08:43
#648991

The $1 trifecta paid $18.90.   You need to put more longshot predictions into your bets.

Login or register to post comments by sbenard
on Thu, 10/14/2010 – 08:43
#648992

Economic Horror? What do you expect!? It’s Halloween this month!

Login or register to post comments by SheepDog-One
on Thu, 10/14/2010 – 08:45
#648997

Indexes down or at least flat, dollar still collapsing. Peak BS reached, its near diversion time.

Login or register to post comments by jbc77
on Thu, 10/14/2010 – 08:45
#648999

Is anyone surprised the market is now green? I mean, heck, with all that good data this morning.

Login or register to post comments by Boilermaker
on Thu, 10/14/2010 – 08:51
#649026

I was so surprised I half-cocked open an eyelid before falling back to sleep. 

Isn’t SportCenter on?

Login or register to post comments by SheepDog-One
on Thu, 10/14/2010 – 08:53
#649030

I guess Id be mildly surprised if markets were up, but theyre not.

Login or register to post comments by Boilermaker
on Thu, 10/14/2010 – 09:10
#649088

Go take a dump and come back and look.  They’ll have had a shot of adrenaline by then.  It’s pretty clear, already, that they are going to not let it fall.  They’ll end up.

Login or register to post comments by SheepDog-One
on Thu, 10/14/2010 – 09:18
#649105

Well, they BETTER prop the crap up, because theyre going to need about 100 DOW points just to tread water above the toilet bowl swirling dollar decline! Get busy Bennie and the Inkjets! Chop chop!

Login or register to post comments by FEDbuster
on Thu, 10/14/2010 – 10:40
#649369

Maybe the HFT super computers lost reverse gear?  All that is left is 1st, 2nd, 3rd and overdrive.

Login or register to post comments by pile of poop
on Thu, 10/14/2010 – 08:48
#649010

The fact that the Fed strips out food and energy onyl reinforces the argument for total destruction of the dollar.  By the time inflation spills over into the “core” rate, it’ll be way too late.

Login or register to post comments by hugolp
on Thu, 10/14/2010 – 08:49
#649019

Stagflation here we come!!!

Login or register to post comments by Lord Blankcheck
on Thu, 10/14/2010 – 09:18
#649104

negflation

Login or register to post comments by sbenard
on Thu, 10/14/2010 – 08:56
#649039

Whew! I’m soooo glad we can just PRINT prosperity!

Login or register to post comments by Kina
on Thu, 10/14/2010 – 09:04
#649064

Excuse me Mr Bernanke, there is somebody here to see you..

 

 

Login or register to post comments by -Michelle-
on Thu, 10/14/2010 – 09:11
#649090

I’m feeling very uneasy and have had nagging thoughts for the past week.  The spot prices pre-market did not help. Another trip to the coin shop is in order.  I’ll have no peace until it’s complete.

Login or register to post comments by Common Man
on Thu, 10/14/2010 – 09:20
#649113

Remember remember the 5th of november

CM

Login or register to post comments by Biggvs
on Thu, 10/14/2010 – 09:29
#649143

So with 1.5% yoy core inflation, which seems not too far off the Fed’s target, and with 4% yoy headline price rises, and with still being on a ZIRP, does this diminish the chances for QE2? Or is Ben going to fire up the printers anyway? Must be sitting on a massive stockpile of ink cartridges at this point.

Login or register to post comments by Wyndtunnel
on Thu, 10/14/2010 – 10:14
#649158

Like all Global conflicts the livelihoods of the masses are being demolished as collateral damage in a war that is nothing more than a grudge match between the world’s global rich elites. Relative peace can only exist between these factions so long as THEY feel that none of their ilk is getting much richer at THEIR expense. Up until recently the American super rich were making money hand over fist but the credit crisis and subsequent system paralysis that has plagued their wealth extraction schemes has their backs against the wall. They do no give a flying fuck about the small people. In the same way that WW1 and WW2 seemed “inconceivable” to economists and ground level observers, the present global conflagaration will likely grow into something that defies logic…but only for people who think that the Global Elite have any compassion for their fellow humans. They don’t and neither would most of the commentators on this site with that kind of money and power at their disposal. I have worked on enough filmsets with hollywood stars ad know from first hand experience that people who earn 10s of millions of dollars per year simply because they are “talented” at pretending to be other people think that they are really extremely special and by divine right are to be treated like royalty. They are never to be told they are wrong and every whim of theirs, no matter how ludicrous or outrageous, is to be met short of which tantrums are to be expected. These are the ways of the super wealthy and even a good part of the wealthy. The only opinion that they care about is that of peers and people richer than they. The American Dream has become the American obsession: to become rich enough to get whatever you want by paying for it with complete disregard for the law or any other sense of morality and to send the middle class trash and the poor to Hell for their inability to cross over into the realm of the super rich which is clearly indicative of their inferiority as a class of subhumans not worthy of any compassion. Is it by a lark that the appearance of the New Testament is coincident with a reset of TIME itself as the civilization for which it was crafted collapsed into oblivion? Will Googles, Facebooks, Twitters and other of their ilk yet imagined be the churches of the Internet God that rule the future civilizations that rise from the ashes of our own? What plans do the National Social(ist) Networks have in store to help save the world from the horrors of fiat currency? It would not surprise me in the least that years from now the Fed will have been replaced by a digital equivalent owned and operated for the benefit of network aggregating agencies such as Google who will control digital money backed by a basket of PMs, rare earths and energy commodities that they control and exploit. Google’s Atlantic Wind Connection is just the beginning. http://mashable.com/2010/10/12/google-wind-farm-offshore/

Login or register to post comments by Jim B
on Thu, 10/14/2010 – 09:39
#649170

Who needs food?

Login or register to post comments by Downtoolong
on Thu, 10/14/2010 – 10:55
#649434

Is anyone surprised the market is now green?

What else, in a world where Wall Street always and completely trumps Main Street, even the one in Disneyland.

 

 

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