Friday, December 3, 2010

The BLS BS

I just wasted 15 minutes of my life watching CNBS coverage of "BREAKING NEWS with Hampton Pearson at the Labor Department".

What a fallacy and outright joke our financial "media" have become. You can't get a straight answer out of anybody. Nothing but CYA and assorted BS.

First of all, CNBS parades the same three douchebags in front of their cameras every time. That coug from Mesirow, the Keynesian shill from Moodys and the guy from some website I've never heard of who looks like an old, fat, balding, Wyatt Earp.

At 8:27, the Moodys guy says that the economy is "approaching escape velocity" where we are finally breaking free of the doldrums. Nice call, shill. Then, at 8:29:30, Wyatt Earp starts waxing prophetic about how he expects "+250,000 non-farm payrolls" and blah, blah, blah. Hampton Pearson then breaks in with +50,000 and a 9.8% unemployment rate. The looks across the penta-box were absolutely priceless. Funniest thing The Turd has seen on TV since The Simpsons Halloween special 6 weeks ago. CNBS regularly uploads recent clips to their website, so, give it an hour or so and go there and watch it for yourself. I guarantee you'll enjoy it. Jeez, what a bunch of boobs.
http://www.cnbc.com/id/15840232/?video=1680661595&play=1

As for the all-important PMs, predictably they've taken off post BLS BS. The totally lame US economy guarantees a continuance of QE...to infinity. Gold, after reaching 1404 has pulled back to 1399. Silver  made 29.09 and is now 28.95. No reason not to expect strength all day. Blythe will certainly bare her fangs as we approach 1412 and beyond, if not before. Silver will, most likely begin to test the old highs of 29.40 or so, too.

It should be a very fun day. I need to s&s&s. Much more later.

20 comments:

  1. Houston, we have lift-off.

    By the way, Turd, what's so wrong about an old, fat, balding, Wyatt Earp? I resemble that remark. Too funny. I'll check out the video clip later. Thanks for your unvarnished take on things.

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  2. I haven't heard the S&S&S comment since the mid-1970's.

    It took me a moment...LOL!

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  3. Turd, your description of CNBC's peanut gallery is priceless.

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  4. I'd also throw in some nice background music to the PM's some melodic and some thrash...

    The melodic first...it would appear that recent COMEX data suggests some COMEX customers standing for delivery are being settled in cash + premium, let me tell you that if this is the case then this is a disaster for the shorts as what do you think anyone who just got paid a premium on their position is going to do with that cash? Yep they will take a new LARGER position KNOWING that they will either own scarce PM's or get bought off with cash + premium at delivery...this is the first step in an ugly spiral for anyone holding shorts in PM's.

    As for the thrash music ... is not so good for off 'vault' gold, and that is the emergence of 'fake' gold (who'd have thunk it eh!) in the investment market. Without details on scope, scale and how long this scam has run we simply cannot take a view on the depth of impact, but Im sure anyone who picked up a 'bargain' recently will want to double check the providence of their bars/coins.

    The flip side to this type of music is that there is always a melody somewhere to be found...the upside could be for silver as this has no authenticity issues (as far as I know).

    Enjoy the weekend.

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  5. Is this typical action? Patterns repeating like this seem fishy. I can see resistance at the 100's being natural barriers, but this timing is peculiar (noob?).

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  6. @ Sgt Iria-good point on the comex cash settlements. This is the M.O. of the evil empire, kick the can down the road to stave off a beating for another day.

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  7. JPM and the other bullion banksters hit Gold & Silver hard yesterday on the COMEX and again this morning.

    Their bosses at the FED obviously put out the hit in anticipation of a lousy Jobs Number this AM.

    Now look:

    Au back up through $1400; Ag takes out $29

    USD down hard & those pesky UST Interest Rates on take a big hit.

    A curious tell: Joe K. and his Squawksters --- even Fed Mouthpiece Steve the Liar-man --- are not at all upset about the job number. Talking it up, as a matter of fact.

    Oh, the tangled web we weave…..

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  8. This just assures more QE and thus assures higher PM prices. Best jobs result possible for PM investors.

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  9. http://www.youtube.com/watch?v=YshJV4yEokI

    i couldn't write anything funnier if i tried.. lol the back peddling is F'ing priceless

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  10. Sgt Iria: Absolutely 100% correct. Excellent point.

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  11. EE anytime soon? what you guys think?

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  12. They may have retreated to higher ground.

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  13. Double top pushback would be around 29.40.

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  14. The last two days "they" have counter-attacked between 12:00 and 13:00 eastern

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  15. @brandon:

    "http://www.youtube.com/watch?v=YshJV4yEokI

    i couldn't write anything funnier if i tried.. lol the back peddling is F'ing priceless "

    lmao. I haven't seen that much ridiculous dancing since Riverdance. Friggin Brusca's comments are just delusional at best.

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  16. Like a punch in the gut! The house organ for the banksters looks like they have seen a ghost

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  17. This kind of stuff makes me angry cause it's so stupid. Why is everyone hanging on with baited breath for a gov't report everyone knows is full of bologna? Just goes to show how far gone things are...

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