PPI up 1.8% – another classic smack down b/w Rick Santelli and Liesman

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US producer prices rose more than expected in November, lifted by a surge in energy costs, and recorded the first year-on-year gain since last November, according to a government report on Tuesday

…The Labor Department said the seasonally adjusted index for prices paid at the farm and factory gate jumped 1.8 percent, the largest gain in three months, following a 0.3 percent rise in October.

Analysts polled by Reuters had expected producer prices to increase by 0.8 percent last month. Compared with the same period last year, producer prices surged 2.4 percent in November, posting their first gain in a year and the largest rise since October 2008….

Empire State Index:

…The New York Fed’s “Empire State” general business conditions index fell (TO) 2.55 in December from 23.51 in November.

This was the biggest monthly decline on record and the lowest reading since July 2009 when it was at minus 0.55. The index has risen from a record low of minus 22.23 in March….

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December 15, 2009. Tags: , , , , , , , , . Economy, Politics, Wall St. 1 comment.

Rick Santelli smacks down Steve Liesman on economic data and unemployment

Steve IMO is smoking the CNBC Treasury Hopium. Rickster nails it, and Steve is arguing SEMANTICS!! Emergency UE, Extended EU, it is what it is Steve! over 3 million on extended EMERGENCY UE bens that don’t get reported on the top line UE data…..THE ECONOMY IS NOT ‘GOOD’ (note the REAL economy, not just markets), NOT RECOVERING, NOT PRODUCING JOBS, PERIOD.

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December 11, 2009. Tags: , , , , , , , . Economy, Finance, Obama Administration, Politics, Popular Culture, Unemployment Statistics, Wall St. 2 comments.

Update 2: DOW off a cliff: down 230…El-Erian on economic outlook & Santelli & Liesman on the data; Market Mover Friday: Consumer Spending plunges – down 0.5%

Update 3: Closing Bell DOW down 251 to 9710, S&P closed under that 1040 level, losing 30 to close at 1036, NAS down 52 to 2045.
grizzly1

Update 3: 309pm EST: we just broke under 3.40 on the 10, 3.39 and the traders have an eye on the S&P at 1040 1042 is the closing level to watch (1035 now) DOW near the lows off 263. as of 200pm 456 of 500 S&P 500 stocks are lower..

Update 2: Dollar up, and in tandem as has been its habit DOW falling. Methinks peeps saw the consumer spending and got with MiM’s analysis of the GDP for themselves. WHAT IS THE DRIVER OF GROWTH GOING FORWARD?

None , zip, zilch, the big goose-egg. What sane capital would take a risk in this political environment? Not I. I would keep my head down I wouldn’t even want to make ‘too much profit’. Pfft. Nowhere to go but down after a 3.5% GDP yesterday, the govt cant print fast enough to maintain the velocity of money to hit that number in 4Q, and 1Q 10? Housing should be collapsing again under unemployment.

DOW was down 270 now down 228 to 9735, S&P down 26 to 1039 NAS down 47 to 2050. Peeps watching 10 yr yield at 3.40, if we break that, they say hold on…

Update: PIMCO’s El-Erian on economic outlook & Rick Santelli and Steve Liesman debate the spending and income data:

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October 30, 2009. Tags: , , , , , , , . Economy, Music, Obama Administration, Politics, Unemployment Statistics, Wall St. 1 comment.

Market Mover Wednesday: CPI Rises Less Than Expected, Up 0.1% in May – CNBC.com

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June 17, 2009. Tags: , , , , , , , , , . Economy, Finance, Wall St. Comments off.

Golden Slacks, JPMorgan Chase and Morgan Stanley apply to repay TARP….spark monster rally….

Bloomberg:

DOW closed up a monster 200 off the news; still awaiting okay from FED

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May 18, 2009. Tags: , , , , , , , , , . Economy, Finance, Politics, Popular Culture, Wall St. Comments off.

Repost By Request: Liesman like Nixon: Rick Santelli to Steve Liesman: “Don’t Open Your Mouth and Say Dumb Things” – mediabistro.com: TVNewser

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May 5, 2009. Tags: , , , , , , , , , , , . Economy, FDIC, Finance, Politics. 1 comment.

State Budget Battles, CA Unemployment hits 11.2%…

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April 17, 2009. Tags: , , , . Economy, Labor Department, Politics, Taxes, Uncategorized, Unemployment Statistics. Comments off.

Tea Party – Govt Spending Debate: Santelli, Liesman, Kudlow

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For the Rickster, Learning to Drive the Long, Long Trailer:

Courtesy of appaulledwilly:

Here are 2 Approaches on learning how to drive “The Long Long Trailer”

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April 15, 2009. Tags: , , , , , , , , , , , , , , , , , , , , , . Comedy, Economy, Film, Housing, Obama Administration, Politics, Popular Culture, TARP, Taxes, Uncategorized, Wall St. Comments off.

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