GDP Jibber Jabber

Supergeek

Oct 29, 2009 at 7:54 am

@y’all
Everything is on the ONE!!!

Bonn

Oct 29, 2009 at 7:57 am

SECOND ROFL yeah Stacey just saw it on CNN my god they got main stream media really coordinated my my

Mike2liverpool

Oct 29, 2009 at 7:58 am

I can only think the fact Saudi’s are jumping the Nmex 7 going to London?
Mike

Mother earth

Oct 29, 2009 at 8:08 am

GDP up in Lalaland…

But pretending is the only option the US corporations have at this point. The US taxpayer is to be depleted like any other resource corporations get their hands on..

Veritas

Oct 29, 2009 at 8:09 am

Love that Doublespeak. The recession’s over “in a technical sense” despite huge job losses.

Like saying the traffic accident is over “in a technical sense” despite the driver being dead and the passenger passing through the windshield & flying 30 feet.

Scott from Oregon

Oct 29, 2009 at 8:10 am

http://news.yahoo.com/s/ap/20091029/ap_on_bi_go_ec_fi/us_economy

Whew!! I can come out of the woods now…

Phil

Oct 29, 2009 at 8:10 am

@GDP growth 3.5% …

LOL .. did they just change the definition again ?

Phil

Oct 29, 2009 at 8:12 am

PS@GDP growth 3.5% …

OTOH, it must be true … the US$ is tanking again while stocks climb !

TJ

Oct 29, 2009 at 8:14 am

@all

Help a novice. Is there as shred of truth in any of this?

Phil

Oct 29, 2009 at 8:14 am

Army: 3 vials of virus samples missing from Maryland facility

…, spokesman for the command, said this latest investigation has found “no evidence of criminal activity.”

http://edition.cnn.com/2009/US/04/22/missing.virus.sample/

“no evidence of criminal activity.”
OK, the it must have been the Govt. right ?

Phil

Oct 29, 2009 at 8:15 am

@TJ … Help a novice. Is there as shred of truth in any of this?

Great opening line !
… in any of “what” ?

Mother earth

Oct 29, 2009 at 8:17 am

Funny gold begaves exactly as predicted. It was to be suppressed to avoid people taking delivery and to aid the sale of treasuries. It was predicted to jump back today..

WL

Oct 29, 2009 at 8:19 am

Marc Faber Dollar will become wall paper Oct 23, 2009

http://www.youtube.com/watch?v=VcXTnMxn1Bo

Bernanke “He issa munay PRinterr”

Danny

Oct 29, 2009 at 8:20 am

Matthew Hoh, State Department official, resigns in protest over Afghanistan war policy. Former Marine captain. State Department shill Ian Kelly downplays resignation.
http://www.google.com/hostednews/ap/article/ALeqM5j7-8TSw7G_wwHY-5sX8TTBjbJhrQD9BJLOH02

Obama names “Mr. ES&S” of voting machine fraud infamy the co-chair of the President’s Intelligence Advisory Board.
http://thecable.foreignpolicy.com/posts/2009/10/28/hagel_to_lead_obamas_intelligence_overisght_panel

Phil

Oct 29, 2009 at 8:21 am

@WL…Marc Faber Dollar will become wall paper Oct 23, 2009

So he papered his walls on the 23rd ?
I’d have waited a few months .. still too expensive, even for wallpaper !

TJ

Oct 29, 2009 at 8:25 am

@Phil … this?

I don’t know what the hell I’m asking. Maybe I want to know if this is the final invitation to the Sucker’s Rally?

Mohammed

Oct 29, 2009 at 8:26 am

So, why did Goldman lower their estimate to 2.7% just a day before the GDP comes out?

Hmmm!!!

Supergeek

Oct 29, 2009 at 8:31 am

@scott
post the link to your blog again, please… I have some photo’s I would like to post!!!

Photoception

Oct 29, 2009 at 8:33 am

This notion of being “out of the woods” is tremendously foolish and could have catastrophic consequences.

Consumer credit is falling with rising unemployment. Over- producing will cause a depression. We have to either raise incomes, or write off the bad debts. Right now we’re trying to dig ourselves out of a hole. Productivity is rising with incomes falling… anyone can figure out that the result will be excess capacity and falling demand. This results in unemployment resulting in a feedback loop.

By trying to bullshit our way out of this without fixing a single core issue, we will reinforce the cycle that started the collapse. This will lead to more overcapacity that will lower prices causing more dirty banks to explode. This is exactly what happened in the Great Depression.

Phil

Oct 29, 2009 at 8:39 am

@TJ … Maybe I want to know if this is the final invitation to the Sucker’s Rally ?

“The market is always right” … is a big myth !
… it should be “right”, but not when the Govt. is gaming it like a rigged casino.

Everyone is expecting a big pull back , so we may even see 14K soon ! .. but with the US$ Index at 60 maybe !
If they they (PTB) allow the market to adjust to reality, the DJIA should be at ca. 4K today.
It seems obvious that they do not want that, so I guess they’ll keep on inflating stocks , prevent the bond market from crashing completely, and continue devaluing the US$ on a slow burn…. unless … outside influences start a panic .

In other words, it’s anyone’s guess …
Nobody knows except Bernanke, Geithner and the WS crooks I suppose.

Scott from Oregon

Oct 29, 2009 at 8:41 am

http://aeleope.blogspot.com/

Supergeek, I am your

humble servent …

WL

Oct 29, 2009 at 8:41 am

Dr. Marc Faber concluded his June 2008 newsletter with the following:

The federal government is sending each of us a $600 rebate. If we spend that money at Wal-Mart, the money goes to China. If we spend it on gasoline it goes to the Arabs. If we buy a computer/Software it will go to India. If we purchase fruit and vegetables it will go to Mexico, Honduras and Guatemala. If we purchase a good car it will go to Germany. If we purchase useless crap it will go to Taiwan and none of it will help the American economy. The only way to keep that money here at home is to spend it on prostitutes and beer, since these are the only products still produced in US. I’ve been doing my part.

WL

Oct 29, 2009 at 8:43 am

oil and gold movin like a Snoot into a bottle of hootch

Bonn

Oct 29, 2009 at 8:47 am

@ WL
Dr. Marc Faber concluded his June 2008 newsletter with the following:

ROFL PMSL Nice one but i cant get over Max Keisers “Financial Anti-Matter”
All the reason why i think USA wants another War I heard around 4 months back on Squak Box one of the reporters saying US seems to be gearing up for War.
Heads up People one more False Flag operation

WL

Oct 29, 2009 at 8:54 am

@Mohammed

So, why did Goldman lower their estimate to 2.7% just a day before the GDP comes out?

Here:
http://www.youtube.com/watch?v=oMMTloO1H-U

Richard@lattitude30N

Oct 29, 2009 at 8:54 am

@TJ and @ Phil: “last chance for a suckers rally” Well it’s probably not the last chance…but a word to the wise…TJ: if you see the dead cat bounce now will there be a dead cat bounce tomorrow?? Similarly if you are asking Phil…well IMO…Phil sees the system has been hijacked….that we are witnessing the greatest heist ever…that trying to find day trades is a waist of time..but let him speak for himself…I believe all that I have just listed…on the other hand, Max might like to be in on a IPO for google, Amazon,twitter, FB, and the like if he was invited early in the underwriting…Max did work WS..and knows the quick deal and the quick profit…The guy that sold out Bear Stearns with a short sale just before the bankruptcy that made 3 or 4000% profit is a WS traders wet dream ( again IMO )…I see the vision of a world elsewhere…and hang in with metals and commodities

Supergeek

Oct 29, 2009 at 8:59 am

@scott
cheers!!!

Illya Kuryakin

Oct 29, 2009 at 9:11 am

Fucking GDP numbers are a joke: every time someone at Goldman Sachs has bowel movement the “jobless recovery” soars!

Illya Kuryakin

Oct 29, 2009 at 9:13 am

Great quote from Faber, WL!

Let’s just say I’ve been doing my part as well in Kanada…

Supergeek

Oct 29, 2009 at 9:14 am

@y’all
“if they take my stapler then I’ll set the building on fire.” Milton – office space

Collpaso

Oct 29, 2009 at 9:32 am

US economy exits recession LOL

http://www.irishtimes.com/newspaper/breaking/2009/1029/breaking43.htm

stacyherbert

Oct 29, 2009 at 9:34 am

via Glenn Greenwald; an op-ed by a former Soviet soldier who fought in Afghanistan: http://www.vigile.net/We-re-still-dying-in-Afghanistan

Troy Ounce

Oct 29, 2009 at 9:56 am

Denninger disagreed completely with the 3,5%.

Spin is everywhere as financial media parrots the good news.

Remi

Oct 29, 2009 at 9:58 am

Growth is back hard and that helps stocks up. It should.

stacyherbert

Oct 29, 2009 at 10:03 am

Here is Karl Denninger on those GDP numbers:

http://market-ticker.org/archives/1550-GDP-Is…..-Better-Than-Expected.html

Adam C

Oct 29, 2009 at 10:31 am

OT

Here’s a YouTube playlist for Fred Harrison from The Renegade Economist

http://www.youtube.com/watch?v=qHqrBb-nRbs&feature=PlayList&p=A0B6837CF05760E8&index=0&playnext=1

Very insightful on the bubble in land values being the main cause of the UK/US crash. He advocates a land tax as opposed to taxes on production and consumption.

A possible OTE guest? More info:

Wikipedia
“He is acknowledged as having predicted the 2008 subprime mortgage crisis, laying it out in his books as early as 1997.”

“Harrison’s macro-economic analysis is based on the theory that business conforms to a pattern of 18-year cycles, determined by the unique characteristics of the land market. According to Harrison, economists erroneously assume that the health of the property market depends upon the condition of the rest of the economy. In fact … property is the key factor that shapes the business cycle, not the other way around.”

http://en.wikipedia.org/wiki/Fred_Harrison_%28author%29

YouTube Channel
Includes some Michael Hudson interviews
http://www.youtube.com/user/RenegadeEconomist

frances snoot

Oct 29, 2009 at 11:19 am

Worrying about GDP is a total and complete waste of time at this point. The G20 is moving away from GDP and national sovereignty in a bid for balance of trade surplus and deficits. That is the point to ending the dollar as reserve currency: the dollar reserve enacts a command import-based economy with deficits…baked in the cake.

Mongo

Oct 29, 2009 at 11:21 am

Agree.. we are definitely in lala-land.

When Citi, CIT and/or WFC comes tumbling down real soon everybody will ask.. HOW DID THIS HAPPEN.. as usual!

Illya Kuryakin

Oct 29, 2009 at 11:36 am

“Chocolate rations were increased last month from thirty grams to twenty grams.”

Mini US

Oct 29, 2009 at 11:43 am

US needs to show GDP Growth/Recovery for a reason to raise Interest Rates sooner rather than later.

Gordo

Oct 29, 2009 at 11:45 am

@Photoception
“We have to either raise incomes, or write off the bad debts. Right now we’re trying to dig ourselves out of a hole.

By trying to bullshit our way out of this without fixing a single core issue, we will reinforce the cycle that started the collapse.”

Yes and that hole is actually quick sand.
These guys really believe that they are smarter than the people in charge in the 1930′s or the Japanese. IT is amazing.

Illya Kuryakin

Oct 29, 2009 at 11:58 am

US needs to show GDP Growth/Recovery for a reason to raise Interest Rates sooner rather than later.

They can’t. If they raise bonds to say Brazil levels the US will be looking at $1.5 trillion in interest payments alone that would increase the fed budget deficit from $1.5T to $3T – if it’s not there already.

The house of cards is ready to collapse at any minute.

My guess is they will bullshit their way through Christmas with some more faerie tale retail numbers and crash the system in Jan or Feb.

We could see gold at $5,000 by Valentines day.

Illya Kuryakin

Oct 29, 2009 at 12:00 pm

Speaking of which: anyone come across any new bullion retailers who aren’t on Quaaludes markup wise? Specifically in Kanada.

Dante

Oct 29, 2009 at 12:06 pm