Look out below

[pmbug]

Dallas Fed missing yesterday didn't move the market. Chicago PMI miss today looks like it's taking a toll.

Total collapse. That is the only way to explain what just happened with the Chicago PMI which imploded from 52.4, and printed at a contractionary 49: the first sub-50 headline print since September 2009. But that's not all: Deliveries, Prices Paid and Production all hit their lowest since 2009; Backlogs posted their tenth month of contraction in the past 12 months. And what's worst for the Department of Making Shit Up, Employment plunged from 551. to 48.7, its third month over month decline. Actually another way to phrase it: complete disaster. Obviously this number explains why S&P should have no problems crossing 1,600 today. Because for that other Department: of Propaganda and Creating money out of thin air, this means only one thing: the Fed is preparing to print ONE KROOGOL MORE!

http://www.zerohedge.com/news/2013-...-implodes-49-first-sub-50-print-septmber-2009

A Kroogol eh? Think that will be enough?

 

[DCFusor]

Glad I only capitulated on about half my shorts the other day, at least at the moment.

 

[ancona]

Pardon my stupidity Sir, but what the hell is a Kroogol? [Spoken with an English accent]

 

[pmbug]

It's whatever the Fed needs it to be.

 

[DCFusor]

I believe it's a reference to Krugman.

 

[Aubuy]

I wonder how much money I can borrow from myself before I realize I am not going to pay myself back?

 

[ancona]

I wonder how much money I can borrow from myself before I realize I am not going to pay myself back?

All of it. If you rehypothecate it, you can lever out about 40 - 50 times the base.:wave:

 

[pmbug]

I wonder how much money I can borrow from myself before I realize I am not going to pay myself back?

The real question is, after you understand that it will never be paid back, will you continue to lend?

 

[Aubuy]

Never lend money to a friend unless you plan for it to be a gift.