The Golden Truth: September Auto Sales And ADP Payroll Report Confirm The Economy Is Tanking

Wednesday, October 2, 2013

September Auto Sales And ADP Payroll Report Confirm The Economy Is Tanking

I have to say, Barack Obama is probably the biggest political sell-out in the history of the United States. Anyone who voted for him and still supports what he is doing is either tragically brain damaged or pathetically naive. That's not to say the Republicans are a better alternative but Obama sold out his supporters like plantation slaves in the 1800's.

Yesterday's auto sales report for September - led by GM's 11% plunge in sales and incredible bloating up of dealer inventory levels - confirms my view that the economy is tanking. Today's ADP (Automatic Data Processing, Inc) Payroll report for September further confirms, as today's payroll report was nothing short of disaster, with a big miss of the consensus estimate AND the two previous month's reports revised downward sharply. The dollar has lost the 80 level. The world isn't buying into the story being reported in the media by Wall Street and the President that the economy is improving.

I review this data plus three other observations in this article: September Auto Sales/Tanking Economy.

I further expect that housing sales will follow auto sales lower. September home sales data will start coming in three weeks.

11 comments:

AnonymousWednesday, 02 October, 2013
Jobs Report Won’t Be Released Oct. 4 If U.S. Government Shut

http://www.bloomberg.com/news/2013-09-30/jobs-report-won-t-be-released-oct-4-if-u-s-government-closed.html

I bet this will include unemployment numbers and bad retail sales as well. anything to hide months of negative GDP.
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Michael JacksonWednesday, 02 October, 2013
Very good article, Dave. I really liked the gambling data for the State of Nevada and plan to share it with everyone. Nevada depends on two major sources for revenue: Mining and Gambling. The mines are laying off miners right now. The other is gambling. With the largest unemployment nationwide and incompetent leaders interested only in their political power and party, I really do predict that this whole state will declare bankruptcy and be insolvent and will be the first. Right now, it's only cities but a major fire is bound to hit the fan soon. This State is not going to be able to pay its bill and it's not a "too-big-to-fail" state like kalifornia.
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AnonymousWednesday, 02 October, 2013
Economist: U.S. labor market recovery is a fraud

If payroll job growth were to persist at the average level of the past three jobs reports and increase at just 148,000 jobs per month, it would take until December 2021 for employment to reach its CBO estimated potential, he added.

In his 2013 third-quarter U.S. forecast, Snaith explains that by just focusing on the unemployment rate, many analysts erroneously are predicting a fast recovery that’s simply not there yet.

That’s why it’s not surprising that consumers are holding back on spending, which in the past has brought the economy out of the doldrums, he said.

Snaith was only one of four national economists to predict that the federal Reserve Bank would continue to funnel billions of dollars into the market on a daily basis as a way to help stimulate the economy and not begin tapering that process until 2014.

“Will the Federal Reserve’s exit be more like Ginger Rogers gliding across the dance floor or Miley Cyrus awkwardly twerking remains to be seen,” Snaith said. “But given the phony labor-market recovery it could be some time before the Fed hits the dance floor.”

http://www.bizjournals.com/jacksonville/news/2013/10/02/economist-us-labor-market-recovery.html?

poor guy ,,,by speaking the truth....he'll hurt his career.
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AnonymousWednesday, 02 October, 2013
Dave as I remember you favored William Kaye. He hit a dinger with his prediction for the metals drop in price for the first of the month. Credible individuals such as He and your analysis keep me checking in on the golden truth.

Thanks
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AnonymousWednesday, 02 October, 2013
Dave, still about the collateral in the OTC market.
According to the information on the LCH website, agency bonds like MBS issued by the Fannie Mae and Freddie Mac are acceptable forms of collateral although there is a small haircut.
http://www.lchclearnet.com/Images/lch.clearnet%20ltd%20acceptable%20haircuts%2016%20august%202013_tcm6-63891.pdf
Why does the Fed have to use QE to buy agency bonds from banks in order to inject cash for the margin requirements? Why don't the banks use the agency bonds on their balance sheets as collateral for margin requirement directly? If the QE is to keep banks solvent, it seems a bit superfluous in my opinion.
Off the topic. You mentioned Maria Bartiromo was so nuts about the guy that she shaved his initials "M.P." into her pubic hair. You even said "I know this story is true." I'm just curious how you managed to know that? Did you have any affairs with Maria Bartiromo? Why her? Beckie Quick is a much better than Maria, mate.
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AnonymousThursday, 03 October, 2013
Dave works as a paparazzo in his spare time...
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AnonymousThursday, 03 October, 2013
Silk Road (kill) Inflation-Deflation Labor Value Obamacare

Published on Oct 2, 2013

Youtube killed the first release of this video, this is the second release.. I talk about the shutdown of the Silk Road after reading the full text of the arrest warrant.. The US Government (NSA) has been a major user of that service as part of a jobs program in homeland security. The Silk Road has been allowed to operate by them for a long time; The Feds have a full copy of the Silk Road servers which they studied for months and months and, they spawned many transactions. "Dread Pirate Roberts" was caught because he used his own service! to order fake ID's via the mail. (I have not seen a single article that speaks to this point!). Nothing on the internet or in the physical world is secure from surveillance, NOTHING! You and I are allowed to be free based on the whim of the security state. This trend will continue as our inflation and deflation problems morph into deeper deflation. I explain the two simultaneous undercurrents now underway in response to a Bloomberg missive that got things entirely wrong! Some of my perceptions regarding the cost of the Obamacare tax are now being realized when people try to sign up for "free healthcare" only to get an expensive tax somewhere between $7500 to $12000! I mention the government shutdown with an eye to a reboot of the system based on needs.

http://youtu.be/CjkjaQW4khU

reduce your foot print....
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UnknownSunday, 06 October, 2013
Man... I really liked the gambling data for Nevada... In my honest opinion this State is not going to be able to pay its bill.

________________
xbox live gold prijs
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Why Gold?

Gold is the world's oldest currency. You exchange your fiat currency (dollars, euros, yen, yuan) into gold as an insurance policy against catastrophic Central Bank and Government policies which serve to destroy the value of fiat currencies and destroy democracy.

Gold can ONLY be considered an investment to the extent that it remains significantly and historically undervalued in relation to the fiat currencies against which its value is measured. Otherwise it remains the world's oldest currency and is completely free from the counterparty risk associated with currency by Government fiat (i.e. fiat currencies rely on a Government's "full faith and credit.")

Quote Of The Month Courtesy of "Jesse"

Unfortunately for Larry Summers, Ben Bernanke, and their friends at the BIS, they have not yet figured out how to print physical gold, silver, and other essential commodities, and the world is reaching the point where it might simply start ignoring the New York based markets with respect to essential commodities such as basic materials, oil, foodstuffs, and the like, as they become increasingly irrelevant, fraudulent, and Orwellian. And then where will the financial engineers be, except with no more excuses and no place to hide?

Here is the link to his entire commentary, well worth a read:

http://jessescrossroadscafe.blogspot.com/2010/07/gold-daily-chart-shock-and-awe-for.html

Great Quote From Jim Rogers On Govt CPI Reporting

JR: I mean, we have inflation now. If you go to the shop, whether it’s groceries, or education or insurance or health care, prices are going up for everything. The government lies about it in the US. Some countries lie, many countries don’t: Australia, China, India and Norway. Many countries don’t lie about it and acknowledge that we have inflation. Others lie about it, the UK and the US, but if you go shopping you know prices are up.

Q: Are you saying that the American Consumer Price Index (CPI) published by the US Bureau of Labor Statistics is a lie?

JR: In my opinion, yes, of course it is. Have you looked at it? They’ve changed their accounting several times in the past few decades. When housing was 20% to 25% of the CPI and housing was going up, they didn’t count it, saying rents weren’t going up, and then when home prices started going down, they counted it. It’s the same with many things. It’s staggering some of the tortuous reasoning that the BLS has used over the past 25 or 30 years. When the price of gasoline goes up, they say it’s not really going up because it’s better gasoline, better quality, therefore you’re getting more for your money. I mean, it’s endless, the stuff that they say and for some reason people sit there, although more and more people are catching on, and accept what the government says.

source: www.clusterstock.com

Quote of the Week

"The primary function of a Central Bank is to engage in the massive transfer of wealth from the middle class to the wealthy elite. The Federal Reserve was set up to do this with the blessing and support of Congress." - Dave in Denver

If you refuse to believe the above, please read "The Creature From Jekyll Island: A Second Look at the Federal Reserve" by G. Edward Griffin and then explain to me why the Senate voted down the Vitter Amendment and Congress refuses to pass a law requiring a full audit of the Fed, even though the Fed is using taxpayer-backed money to bailout Wall Street and Europe.