It looks like you're using an Ad Blocker.
Please white-list or disable AboveTopSecret.com in your ad-blocking tool.
Some features of ATS will be disabled while you continue to use an ad-blocker.
An “off-the-scale bad” -30.7 drop at the Philly Fed could indicate an upcoming loss of over 700,000 non-farm payroll jobs according to a technical analysis
Over at Zero Hedge, Tyler Durden has just posted a chart that is nothing short of scary.
As seen below it maps the Philly Fed verse the non-farm payrolls and implies that the Fed is a leading indicator of the non-farm payrolls.
Of course the Fed just took the worse dive off a cliff, posting -30.7 drop which Roubini calls “off-the-scale” bad, which is part of sharpest loss we have seen in recent history.
In fact it is a sharper loss than we saw leading up to the 2008 financial crisis even though the talking heads keep saying this is not 2008 — but then again they said Fukushima was no Chernobyl.