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Tyler Durden's picture


The BLS beat the expectations game continues. While this week's number of people filing initial cliams surged to 410K, blowing out expectations of 380K, it is once again the prior revision that shows the true nature of the BLS. As we said last week when claims printed at 382K, better than expectations: "last week's 388K was revised up to 392K, declining to 382K below
expectations of 385K, which in tried BLS fashion will certainly be
then nobody will care." Sure enough: last week's number was revised... to 385K, meaning there was no beat. Obviously this week's number will be revised higher next week. As usual. Looking at continuing claims we see the same thing: the prior number was revised from 3,723K to 3,738K, meaning the drop to this week's 3,680K was better than expected. Lastly from the BLS, people claiming EUCs and Extended Benefits increased by about 40K in the week ended March 26 (full report here).

Elsewhere, PPI printed at 0.7% on expectations of 1.0%, down from 1.6% previously. PPI ex food and energy came at 0.3%, up from 0.2% previously, which also was the expectation for the March number. As El-Erian says on CNBC: "People may be surprised by the rate at which the core goes up." As for headline prices dropping, looks like once again nobody at the BLS actually bought food or filled up their car in the past month: the 0.7% headline number was the lowest since November 2010 (full release)


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Thu, 04/14/2011 - 08:40 | 1168274 NOTW777
NOTW777's picture


Thu, 04/14/2011 - 09:17 | 1168392 Thomas
Thomas's picture

Get Sophie on the phone. She's got some choices to make.

Thu, 04/14/2011 - 09:31 | 1168452 youngman
youngman's picture

As the BRIC´s are meeting about the demise of the US man

Thu, 04/14/2011 - 09:15 | 1168380 trillion_dollar...
trillion_dollar_deficit's picture


Thu, 04/14/2011 - 09:44 | 1168488 taraxias
taraxias's picture

brilliant ++++

Thu, 04/14/2011 - 11:27 | 1168860 AmazingLarry
AmazingLarry's picture

Nice! I'll need to borrow that at 0% if you don't mind.

Thu, 04/14/2011 - 09:45 | 1168496 oh_bama
oh_bama's picture

Why too negative and unamerican!!

  • Claims are high due to JAPAN and MIDEAST!
  • BTFD and you will be rewarded!!
Thu, 04/14/2011 - 08:42 | 1168287 101 years and c...
101 years and counting's picture

...BLS notes that jump in claims reflects quarter end.

So, companies now fire people at the end of the quarter? If thats the case, why did the retarded "economists" not know this and forecast it.  What a load of BuLlShit.

Thu, 04/14/2011 - 08:51 | 1168317 John Law Lives
John Law Lives's picture

It makes one wonder why the BLS should add any such comments to the data.  Shouldn't they simply report the data and let if go at that?  It seems obvious someone sent them a memo to put a positive spin on anything they report.

Thu, 04/14/2011 - 09:03 | 1168350 Confucious 222
Confucious 222's picture

Makes one wonder why the BLShit Bureau shouldn't be stuffed into the cracks at Fukushima to help revise the previous week's emissions.

Thu, 04/14/2011 - 09:22 | 1168409 WonderDawg
WonderDawg's picture

That's awesome.

Thu, 04/14/2011 - 10:41 | 1168654 smithcreek
smithcreek's picture

The reason doesn't matter, they just need to throw out one of these crappy numbers now and then so they can get back to the usual ways of describing the unemployment numbers:

  •  (this week and the next 4 weeks) the unemployment numbers have fallen x-1 of the last x weeks
  •  (after 4 weeks) the unemployment numbers have fallen x weeks in a row
  •  add in the always useful (when it goes in the right direction) 4 week average and you have data for every outcome
Thu, 04/14/2011 - 08:42 | 1168288 Global Hunter
Global Hunter's picture

this is one of those moments where I turn on CNBC for sport.

Thu, 04/14/2011 - 08:47 | 1168297 oogs66
oogs66's picture

I did the same thing :D  it was entertaining to watch liesman only talk about CPI and how food prices went down! 

Thu, 04/14/2011 - 08:51 | 1168322 Josh Randall
Josh Randall's picture

As long as the Truck Stop buffet stays the same price, Liesman thinks the economy is doing well

Thu, 04/14/2011 - 08:42 | 1168289 billwilson
billwilson's picture

Impact of Japan earthquake on US production?

Thu, 04/14/2011 - 08:49 | 1168304 I am Jobe
I am Jobe's picture

Bad weather in the East Coast was also the reason.

Thu, 04/14/2011 - 09:01 | 1168349 SheepDog-One
SheepDog-One's picture

No billwilson I think US production of #1 product, 'bullshit' is increasing.

Thu, 04/14/2011 - 12:22 | 1169100 Campagnolo
Campagnolo's picture

or maybe Peru elections?....or Chavez talking some bullshit?, what a joke

Thu, 04/14/2011 - 08:43 | 1168290 The Axe
The Axe's picture

I love this data!!!   I decrease in the FOOD component??   You kidding me?  right..Do they only collect data at Taco Bell...

Thu, 04/14/2011 - 08:50 | 1168308 MarketTruth
MarketTruth's picture

From one of the USA's LARGEST FOOD DISTRIBUTORS serving many chains and others, food prices have once again been increased from 4% to over 10% depending on product last week at wholesale level. Of course this is an APRIL number.

Thu, 04/14/2011 - 08:54 | 1168326 wang
wang's picture

Johnsonville Brats and food inflation - CEO prices are going up food inflation is here

Thu, 04/14/2011 - 08:46 | 1168293 tip e. canoe
tip e. canoe's picture

quick Timmay pull that 3rd thumb out your ass and stick it in the dyke toots sweet, cuz she's gonna blow!

Thu, 04/14/2011 - 08:46 | 1168295 Saxxon
Saxxon's picture

Fed reporting seems to be engineered to induce short-covering bouts.

I knew we were in trouble when the WH Chief of Staff said something about not letting a good crisis go to waste.

Thu, 04/14/2011 - 08:45 | 1168298 mpok8
mpok8's picture

i don't really understand the above article. Are you basically saying that bad figures (i.e. bad for the economy) are being slipped in by the back door? And this is done by revising the previously issued figures which people pay less attention to?

Thu, 04/14/2011 - 09:46 | 1168490 MachoMan
MachoMan's picture

Welcome to the party

Thu, 04/14/2011 - 09:46 | 1168493 hedgeless_horseman
hedgeless_horseman's picture

Sounds like you need to start here:

Thu, 04/14/2011 - 08:48 | 1168300 I am Jobe
I am Jobe's picture

BTFD, America keeps exporting jobs and then saying the tax receipts has dropped. The truth is coming out and it s looking uglier everyday. Created or saved jobs is a crock of shitz. More pain to come and more layoffs. Get ready for a ugly decade.Meanwhile we need more fucking programmers and crap which is of no value.

Thu, 04/14/2011 - 09:06 | 1168365 LawsofPhysics
LawsofPhysics's picture

Don't forget all the bankers and financial "experts".  Talk about useless crap.

Thu, 04/14/2011 - 08:49 | 1168314 oogs66
oogs66's picture

Translation - We tried really hard to seasonally adjust our way out of this number, and just couldn't so yeah, its quarter end related, yeah, that's it.  Nothing to do with tax cuts failing, QE2 causing inflation without growth, etc....nope, just higher than normal quarter end volatility.  

Thu, 04/14/2011 - 09:28 | 1168436 WonderDawg
WonderDawg's picture

Let's not forget the uncertainty in the cost of hiring someone thanks to Obamacare and the indecipherable tax code. All the while Hopey the Clown talks about cutting $4 trillion over 12 years, just like he was going to cut the deficit in half by the end of his first term. And $4 trillion over 12 years won't do shit, even if he did somehow manage to make it happen.

We're so beyond Fucked we can't even find it on a map.

Thu, 04/14/2011 - 09:49 | 1168500 taraxias
taraxias's picture

Remind me again, what did he say about increasing exports? LOL

Thu, 04/14/2011 - 11:27 | 1168867 Alea Iacta Est
Alea Iacta Est's picture

hmmm...and what, pray tell, do we export?

Thu, 04/14/2011 - 13:18 | 1169321 Printfaster
Printfaster's picture

Guns?  Butter?  Vaseline?  Jobs?  Pollution?  Dollars?  Treasury debt?

Thu, 04/14/2011 - 08:53 | 1168320 Global Hunter
Global Hunter's picture

BLS we don't just provide data we provide spin.

Thu, 04/14/2011 - 08:55 | 1168332 oogs66
oogs66's picture

they should just drop the L in BLS

Thu, 04/14/2011 - 10:57 | 1168721 Problem Is
Problem Is's picture

Where's My Fuckup Job at BLS??
Where can I get a statisticians job fucking up so constantly that my work has to be revised every week and not only not get fired...

but make $100k+ a year with full benefits, retire at 55 on 80% of my salary with gold plated government medical insurance??

Thu, 04/14/2011 - 08:58 | 1168347 SheepDog-One
SheepDog-One's picture

'Reflects quarter end' so they admit they lie? Or are they asserting unemployment always goes up at 'quarter end'. Theres really a lot of people that need a good neck stretching.

Thu, 04/14/2011 - 11:04 | 1168775 TexasAggie
TexasAggie's picture

so, should I short rope?

Thu, 04/14/2011 - 08:47 | 1168303 DavidJ
DavidJ's picture

One Word:  Oil! 

Thu, 04/14/2011 - 08:48 | 1168312 I am Jobe
I am Jobe's picture

Oil has not bearing on the Economoy and so is infaltion. Janet Yellen. yeap, I could not get inot Harvard. Damn, I guess i should have lied on my application to  get into Harvard.

Thu, 04/14/2011 - 09:37 | 1168462 youngman
youngman's picture

You don´t have to just have to be able to pay for it....

Thu, 04/14/2011 - 08:49 | 1168306 John Law Lives
John Law Lives's picture

This is a recovery?

Thu, 04/14/2011 - 09:21 | 1168413 Hedge Jobs
Hedge Jobs's picture

yep, the "jobless recovery" is back. who wants to take bets on when QE3 starts? I month, 2 months or straight after QE2 ending? 

Thu, 04/14/2011 - 08:50 | 1168307 GolfHatesMe
GolfHatesMe's picture

Snowing in the NorthEast at the end of March

Thu, 04/14/2011 - 08:50 | 1168309 youngman
youngman's picture

If I looked at Obama´s 12 year budget he announced yesterday...I would be looking to move my companies elsewhere....I did...I am in Colombia

Thu, 04/14/2011 - 09:46 | 1168492 topcallingtroll
topcallingtroll's picture

Good move!

The chics r hot down there and it is a real status symbol to have a.caucasian usa boyfriend.

Thu, 04/14/2011 - 10:35 | 1168646 Blano
Blano's picture

Oh hey thanks for the info!!  : )

Thu, 04/14/2011 - 08:50 | 1168310 Global Hunter
Global Hunter's picture

gold up a buck, silver a half buck, index futures down.  Rockin.

Thu, 04/14/2011 - 08:50 | 1168311 Cdad
Cdad's picture

This is just one of those rich mornings...when no matter where you look, nothing but FUBAR.  And yet, per the recent takeover of the BlowHorn [CNBC] by the New American Marxist/Banker party, we are about to be treated to a criminal syndicate Wall Street banker who is going to tell us just how bullish he is...on tech.

In the years to come, as we try to explain to our children just how and why we sold their liberty, it will be clips like this that will still be echoing in my mind, one of the hockey helmet wearing criminal bankers pushing "tech" as Japan nears complete nuclear holocaust, and the dollar collapses, and the China bubble pops, and the first rumblings of the zombie apocalypse shake the ground.  

And yet the idiot banker with his blinders on tells us how exciting the present moment is, in hardware and the Internet, how he likes iPads and smart phones, etc puking etc.

And I'm going to have to explain to my children that, on that whole liberty thing, that relic, unfortunately America decided to bow down to mentally retarded and immoral banker fuckwads...and sorry son...there you go.

FUBAR, brothers!  Even the government stooges cannot keep the FUBAR from leaking out today.  Weekly jobless claims....SURPRISE!  So much for an improving labor picture.

Thu, 04/14/2011 - 08:52 | 1168331 John Law Lives
John Law Lives's picture

If everyone did their part and turned CNBC off, it would go away.

Thu, 04/14/2011 - 09:05 | 1168357 Cdad
Cdad's picture

I would like to believe that, John.  However, since the New American Marxist/Banker party took over the BlowHorn [CNBC], their revenue stream changed.  I'm pretty sure it is not the return on advertising dollars that pay the bills at that network.  Just look at their ratings.  They are so unbelievably bad that, were you correct, the network would already be gone now...OR...COMCAST would be firing some pretty high profile personalities there in an attempt to re establish journalistic integrity. 

Nope...I think the money comes directly from...the New American Marxist/Banker party's propaganda wing...quarterly "contributions."  There is no other explanation for why the network is still on the air.  The criminal syndicate Wall Street banker network exists...for bankers.

Oh...and because I know the comment that will come next, I do not watch them to keep informed on economic issues...but rather for staying up to date on just how far down the Marxist road we are [so spare me those comments for the 100th time].

Thu, 04/14/2011 - 09:21 | 1168415 John Law Lives
John Law Lives's picture

Perhaps you are right.  There is an obvious bias to their content.


<<< Oh...and because I know the comment that will come next  >>>

You won't get that from me.  I haven't watched CNBC in ages.  You can spare yourself a headache by turning it off.  

Thu, 04/14/2011 - 08:54 | 1168335 SheepDog-One
SheepDog-One's picture

Lets see how bullish tech is when they realize no IPhone or other ICrap parts are available from Japan! These Criminal racketeers are going to have to eat crow by the bushel soon. Even the Geisha Bukakke girls Quick Burnett and Liesman wont be able to placate the 401K bathrobe brigades this time around.

Thu, 04/14/2011 - 09:04 | 1168359 Cdad
Cdad's picture


LOL!  Classic SheepDog-One ism.  Good one, Dog.

Thu, 04/14/2011 - 09:10 | 1168375 SheepDog-One
SheepDog-One's picture

I read a chilling article laying out just how far reaching Japan is for ALL cars, nevermind Toyota and Honda spin. GM and all the pther US cars are filled with Japanese parts, wiring harnesses, switches, we dont make any of that! And wormy Apple is Japanese parts assembled in China. What are they going to make Iphones out of now? 

That Japanese disaster was immediately kidnapped, thrown in the back of a black van with a blanket over its head. But they cant keep it under wraps for long.

Thu, 04/14/2011 - 09:28 | 1168433 Cdad
Cdad's picture

Correct Dog.  They just had to keep in under wraps long enough to take down the Japanese market, then mark it back up...while they also printed their double top in the US market.  Nothing has anything to do with anything...real.  That is the state of the state, the world that Ben Bernanke made, the institutionalized nature of pathological lying that the criminal syndicate known as Wall Street has established as baseline, or common.

They own the networks, and they can get away with it...for a while...but eventually, one or two criminal syndicate Wall Street bankers have flashbacks...and they remember things like credibility.  They talk, say something on the New American Marxist/Banker party network [there have been a couple].  And eventually, the herd is forced to turn.

Dog...NOT ONE CHANGE over at the BlowHorn [CNBC] since the merger.  Can you believe that?  So telling...blankets and being tossed into the back of panel you say.

Thu, 04/14/2011 - 09:46 | 1168494 aerojet
aerojet's picture

WTF is the problem?  We can start making all that stuff and go right around Japan if so desired. 

Thu, 04/14/2011 - 09:41 | 1168485 topcallingtroll
topcallingtroll's picture

ishit is about to hit the fan.

Thu, 04/14/2011 - 08:50 | 1168319 TumblingDice
TumblingDice's picture


Thu, 04/14/2011 - 08:52 | 1168327 AccreditedEYE
AccreditedEYE's picture


Thu, 04/14/2011 - 08:54 | 1168329 aVian
aVian's picture

normalcy bias...its all where to move to...any thoughts?

Thu, 04/14/2011 - 09:25 | 1168378 Dr. Richard Head
Dr. Richard Head's picture

The Icelanders seems to enjoy shoving the imposed debt back into the bankster's bernanke (aka ass - I will be using Bernanke as an expletive from this point forward).  I need to learn their language.  Is there an app for that?

Thu, 04/14/2011 - 10:52 | 1168696 Problem Is
Problem Is's picture

You mean a multi purpose expletive like:

"Hey Bernank you, you Bernank-hole!"

Thu, 04/14/2011 - 14:20 | 1169601 Dr. Richard Head
Dr. Richard Head's picture

Bingo.  It's bernanking fun too. 

Thu, 04/14/2011 - 08:53 | 1168333 Commander Cody
Commander Cody's picture

And the Titanic's bow takes a dip.

Thu, 04/14/2011 - 09:16 | 1168398 Dr. Richard Head
Dr. Richard Head's picture

No, no, no.  It was just Percy Cornelius Taylor's "A" string on his cello that broke.  That was the sound you heard and not the bulkheads filling with water.  That is all. 

Thu, 04/14/2011 - 08:55 | 1168334 Josh Randall
Josh Randall's picture

Wonder if the Toyota and other car mfg employees are rolled up in there yet

Thu, 04/14/2011 - 08:57 | 1168338 aVian
aVian's picture

they wont count them until they have too

Thu, 04/14/2011 - 08:57 | 1168341 Global Hunter
Global Hunter's picture

Damn you should work for the BLS, you could spin that.  "One time gain due to car manufactures shutting down".  Like it.

Thu, 04/14/2011 - 09:15 | 1168391 Herman Strandsc...
Herman Strandschnecke's picture

Employment in Japanese specialist  Junk Yard operations should increase?

I hear that Airbus A380 wing repairers are also in demand.

Thu, 04/14/2011 - 08:56 | 1168336 topcallingtroll
topcallingtroll's picture

the race between core and real gdp is heating up

Thu, 04/14/2011 - 08:54 | 1168337 Racer
Racer's picture

Ah yes, the Bureau of Lies and Scams can be relied upon to continue the lies and fiddles

Thu, 04/14/2011 - 08:56 | 1168344 topcallingtroll
topcallingtroll's picture

goldman had to know this before their topcall, those trolls

Thu, 04/14/2011 - 08:59 | 1168346 Oh regional Indian
Oh regional Indian's picture

With a SNAP of BLS fingers, all NUMBers are revised at will.

Meanwhile, sheeple wallow in the mire, what was once the exclusive domain of PIIGS.

Hmmmm, How to make Sheep Pigs in one fell revision.

I think that is revisionary mutation right here.


Thu, 04/14/2011 - 09:04 | 1168351 I am Jobe
I am Jobe's picture

Inflation Actually Near 10% Using Older Measure

Thu, 04/14/2011 - 09:03 | 1168356 Eireann go Brach
Eireann go Brach's picture

Ahhhh Ben, what do we do now, Print Barry Print! Ahhhh ok, order more printers then, we dont print money Barry, we just add zeros on a computer, stop confusing me Ben....

Thu, 04/14/2011 - 09:08 | 1168364 ivana
ivana's picture

Have to love such Dpt of Truth!

Thu, 04/14/2011 - 09:07 | 1168369 the not so migh...
the not so mighty maximiza's picture

one word " winning the future" 

Thu, 04/14/2011 - 09:13 | 1168381 SheepDog-One
SheepDog-One's picture

I knew with Barry Soetoros yammering about how things will be 30 years from now that all out depression for 2011 was confirmed.

Thu, 04/14/2011 - 09:32 | 1168446 the not so migh...
the not so mighty maximiza's picture

freudian slips, 30 year depression; i agree

Thu, 04/14/2011 - 09:09 | 1168371 Angry-Irish
Angry-Irish's picture

"A Labor Department spokesman said claims typically jump in the week following the end of a quarter. Workers who wait to file in the next quarter sometimes can get higher benefits based on periodic adjustments in how they are calculated."

Blah, blah, blah.

It's funny, you never hear the Labor Department explain why improvements in the New Claims number are the result of temporary anomalies that should be discounted.

This simple facts shows that the BLS's remit is the recording of labor statistics but the marketing of them - and always with a positive slant.

Thu, 04/14/2011 - 09:09 | 1168372 DoctoRx
DoctoRx's picture

Bullish for gold.  

Thu, 04/14/2011 - 13:20 | 1169341 Printfaster
Printfaster's picture

Not so.

You first have to have income and savings to buy it.

Thu, 04/14/2011 - 09:11 | 1168376 breezer1
breezer1's picture

everyone here is too negative. those guys are just trying to keep everyone calm.( while they dry ass fuck the rest of the population of the world)

Thu, 04/14/2011 - 09:14 | 1168383 cowpieflapjack
cowpieflapjack's picture

Why do they even bother to trot this shit out? There's a

load of hurt going on out there and from what I can tell the wrong people are feeling it.

Thu, 04/14/2011 - 09:16 | 1168393 SheepDog-One
SheepDog-One's picture

They really dont care and in fact wish all of us would just drop dead. When people realize that is the truth, they see everything in a completely new light.

Thu, 04/14/2011 - 09:46 | 1168498 aerojet
aerojet's picture

Yup, pretty much.  We're farm animals to them.

Thu, 04/14/2011 - 11:17 | 1168827 trav7777
trav7777's picture

and of course EVERY farmer wants nothing more than his farm animals to drop dead

Thu, 04/14/2011 - 14:31 | 1169646 ItsEvolutionBaby
ItsEvolutionBaby's picture

There comes a time where the farmer slaughters his animals for meat.

And the animals never see the farmer sharpening his knives.

Animals are caged on a farm, not free.

Thu, 04/14/2011 - 09:17 | 1168390 Fox-Scully
Fox-Scully's picture

It's all about WTF (winning the future)--please do not live in the present!

Thu, 04/14/2011 - 09:32 | 1168455 dexter_morgan
dexter_morgan's picture


Thu, 04/14/2011 - 09:19 | 1168402 I am Jobe
I am Jobe's picture

Percent of people working lowest since ’83…Only 45.4% of Americans had jobs in 2010

Thu, 04/14/2011 - 09:21 | 1168416 cowpieflapjack
cowpieflapjack's picture

A budding Steinbeck puts words to paper in a garret somewhere....

Thu, 04/14/2011 - 10:12 | 1168573 Josh Randall
Josh Randall's picture

Exactly - everyone thats ailing needs to hop on 66 while the ole Mother Road is still available and head West. Whether they find a Labor Camp, a Beach, or actually a new job is immaterial, because the drive will be good for the soul. The human highway is still out there for those whom seek help, love, and understanding from their fellow man

Thu, 04/14/2011 - 09:22 | 1168417 LawsofPhysics
LawsofPhysics's picture

At this point, eliminating the BLS might be a good idea.

Thu, 04/14/2011 - 09:26 | 1168422 web bot
web bot's picture

The solution is pretty simple.

The US needs to balance its budget within a 3 to 4 year time frame with measurable goals. Pure and simple. Otherwise, buckle your seat belt, and add a zero to the unemployment number.

Unless a clear plan can be signalled to the markets and they see an end to this structural deficit, we're headed for default.

Thu, 04/14/2011 - 12:26 | 1169110 mayhem_korner
mayhem_korner's picture

How about Congress gets 10% of what they cut, divided pro-rata among all the "yea" votes? And a bonus 2% for entitlement cuts... They'd be in permanent recess inside of 45 minutes and we'd have the entire slate to re-elect.

Thu, 04/14/2011 - 09:25 | 1168424 cowpieflapjack
cowpieflapjack's picture

Another bureaucratic backwater "office" whose relevance has passed.


Thu, 04/14/2011 - 09:31 | 1168441 jkruffin
jkruffin's picture

But, they said everything was great? They said job openings were everywhere. They were adding employees all year long? The jobless recovery was intact? 

Just like last time the QE was about to run out, everything went from rosy to dumpy. Bernanke has just ensured QE3 and DOW 16000.  Same crap, same story.

QE until the printing presses are demolished.

Thu, 04/14/2011 - 09:32 | 1168443 HedgeFundLIVE
HedgeFundLIVE's picture

The last time Obama went to war with Wall Street, the biggest of the taxpayers, the market sold off hard:

Thu, 04/14/2011 - 09:33 | 1168451 dexter_morgan
dexter_morgan's picture

Manipulating the numbers by this government? Shocking.

Thu, 04/14/2011 - 09:40 | 1168477 Cole Younger
Cole Younger's picture



So...I have to is raising the debt cieling going to avoid this? Is this a freudian slip or your first official warning?

Thu, 04/14/2011 - 09:46 | 1168495 web bot
web bot's picture

The fact that Geithner has uttered these words should send chills down our spines. The cardinal rule in public speaking is to NEVER admit the obvious. The fact that he has done this tells us how personalized this is becoming and how concerned the government is.

To have these words spoken by the Treasury Secretary is huge.

Thu, 04/14/2011 - 10:00 | 1168529 taraxias
taraxias's picture


massively huge

they CAN'T contain this anymore, plain and simple

Thu, 04/14/2011 - 10:29 | 1168625 Founders Keeper
Founders Keeper's picture

["We're only two years from a cataclysmic financial crisis..."--Tres. Sec. Geithner]---Cole Younger

Thanks for the post, Cole.

"Cataclysmic financial crisis."  Like that's avoidable.

The next step down is approaching. What I read into Geithner's comments is that the ground work for the blame game is underway.

No doubt the debt ceiling will again be raised by Congress. Kick the can down the road.

Get squared away. We're running out of road.


Thu, 04/14/2011 - 11:43 | 1168915 ConfusedIdiot
ConfusedIdiot's picture

"that risk is inconceivable." Really?

Thu, 04/14/2011 - 09:41 | 1168478 digalert
digalert's picture

BLS reports are like a moron Obama speech...all lies.

Thu, 04/14/2011 - 09:48 | 1168497 Rose_Colored_Glasses
Rose_Colored_Glasses's picture

Abbott: You throw the ball to first base.
Costello: Then who gets it?
Abbott: Naturally.
Costello: Naturally.
Abbott: Now you've got it.
Costello: I throw the ball to Naturally.
Abbott: You don't! You throw it to Who!
Costello: Naturally.
Abbott: Well, that's it—say it that way.
Costello: That's what I said.
Abbott: You did not.
Costello: I said I throw the ball to Naturally.
Abbott: You don't! You throw it to Who!
Costello: Naturally.

Thu, 04/14/2011 - 10:02 | 1168534 franzpick
franzpick's picture

A 2 line graph from 4Q '07 or so showing on the top line the upward-revised initial claims, and on the lower line the first-reported claims number, might reveal the manipulated and continual understatment versus the reality.

And similar graphs for the other statistics gamed by the federal cabals.

Thu, 04/14/2011 - 10:07 | 1168550 lunaticfringe
lunaticfringe's picture

Fuck Obama. Stock down. Losing. Link to Wirecutter.

Thu, 04/14/2011 - 10:08 | 1168563 Jim B
Jim B's picture

Suprise, the phony debt based, service, ponzi economy!

Thu, 04/14/2011 - 10:17 | 1168583 digalert
digalert's picture

"We're only two years from a cataclysmic financial crisis"

Is Turbo Tax Timmy talking about the future, or past when he and Barama said they saved us from the brink?

Thu, 04/14/2011 - 10:33 | 1168637 dexter_morgan
dexter_morgan's picture

Another issue to get Dickhead Durbin working on.........nah, not enough camera time involved for him.......

Thu, 04/14/2011 - 10:46 | 1168678 Problem Is
Problem Is's picture

Lie By Revision
Barry Obummer's favorite, go to lie...

Thu, 04/14/2011 - 10:51 | 1168685 web bot
web bot's picture

That ass puppet Haynes and his side kick Barbie Burnett on the blow-horn just posted the question, "Should the IMF be telling the US what to do"?

Here's the simple answer: No one else (ehemm... in government) is, so better them than the Obomatron or the Geitner Counter.

Thu, 04/14/2011 - 10:51 | 1168698 svc101
svc101's picture

BLS makes sense only if preceded by a "W".

Thu, 04/14/2011 - 11:06 | 1168782 wrongsideof30
wrongsideof30's picture

What does BTFD stand for?

Thu, 04/14/2011 - 11:26 | 1168863 AmazingLarry
AmazingLarry's picture

As far as I can tell; Buy The Fucking Dip

Thu, 04/14/2011 - 11:46 | 1168933 AldoHux_IV
AldoHux_IV's picture

The same very idiots that said we needed all the QE and fiscal stimulus to procure a recovery are now saying we need more debt and to implement austerity.  What a joke-- they were wrong before and they will continue to be wrong again as it is now painfully obvious that these monkeyfuckers only serve to implement policy that benefits the top 1% and that's it.

Right now of the bigger idiots is talking on Bloomberg-- the so-called chief economist of the IMF is trying to say that the everything is rosy and their bullshit models are in control and have a good grasp of what's going on-- please give me a break.  Their modeling is flawed, and listening to the interview it's also painfully obvious these morons are cut from the same rhetorical cloth.  Slavery for the peasants and the continued benefit for the elitards. Hey douchebag-- here's the best solution for the fiscal problem and providing for the other 98% of the world: destroy the meaningless debt.

END THE FUNDING FOR THE IMF AND WORLDBANK.  These financial terrorists need to be brought to justice.  They have the vaguest clues of how economics really functions-- the very face of contradictions.

It will end peacefully or violently either way this slavery will end.

Thu, 04/14/2011 - 12:15 | 1169052 mayhem_korner
mayhem_korner's picture

Maybe GS' bear-raid on commodities earlier this week was to help Benny buy the dip on cotton-linen paper and ink for his fiat-o-matic presses.  Looks like PMs are queued up again after two days of being in "time out." 

Speaking of PMs, anyone else notice that private deliveries of physical S&G taking a LOT longer to fill in the past couple months?  I think the x-squared term in the polynomial is starting to eclipse the x...

Thu, 04/14/2011 - 13:19 | 1169329 the grateful un...
the grateful unemployed's picture

el-erian has a good point. the difficulty with this inflation is that it the bottom of the curve, asset prices falling less quickly than personal income. those core items are being held up by the Fed, and is there anyway that raising interest rates will make homes and autos cheaper? Normally home prices would fall in a rising interest rate environment, but one suspects that sellers will learn to play the game. ex you want to sell a 100K home, but the bank will only go 75K on a loan because rates are going up. the seller then agrees to loan the buyer the money, at half the going rate, and in turn he gets full price. poor Bernanke, he taught us all the tricks. 
