-30.7 Philly Fed Drop Could Indicate 700,000 Loss In Non-Farm Jobs

Source: members.beforeitsnews.com...:_Off_The_Scale_Bad_-30.7_Philly_Fed_Drop_Could_Indicate_700,000_Loss_In_Non-Farm_Job s.html

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.

There is the actual chart and more info at the story but this is insane if this correlation remains true. Can you imagine what would happen if this happens? markets would crash all over the world. there would be no doubt about a "2nd recession" and even perhaps the start of the anticipated "greatest depression". Currently the DOW is down -414 points, European markets are down even further than that... all economic reports today were bad and this was one of them. Once again the estimates were way off...

Bump.

Keeping my eye on this one.

The problem with stats and economic indicators is that at a glance of the worse, it brings out the fear in us all.

But there is nothing to be frighten of. Have faith in the spirit of humanity.

We arent gonna just roll over and play dead. Never had and never will, throughout the course of our current civilisation.

Today, we have the opportunity to see the final collapse of the banksters and corporations. This is a moment that ALL free mankind for centuries had been waiting for, to throw off that yoke of bondage.

That moment has come. 700,000 out of jobs soon will mean 700,000 workers freed to perform work on other aspects of the national economy, and no leadership congress of good men of great nations will simply just roll over and play dead, but to find solutions to progress and evolve, AND there are solutions avaliable.

The time for political bickering is over, and national reconciliation is on hand at this hour of humanity's need. Leaders will not and must not work alone, and will need the support of the majority with a CLEAR courageous vision for tomorrow, not only for ourselves, but our future generations as well.

Have faith and hope. It aint the end of the world, but only an indication of a new better beginning....

Yep. That -700k jobs report is coming on September 2. Better prepare for it.

And this time Obama won't be able to pin this on Bush.

reply to post by Vitchilo

And this time Obama won't be able to pin this on Bush.

He will still try to do that.

I'm waiting for him to say that it will take another 5 years of his hard work to fix it.

Good! Bring the whole G**damned thing to the ground! We are never going to free ourselves from these shackles until they are completely eliminated. The only thing that grants this unholy alliance of oligarchy their power is our continued acceptance of it through FAKE money. Destroy the fake money and you destroy the oligarchy that enslaves us. I realize that change is scary and learning new routines is difficult, but rest assured, mankind will be much better for it. So, I say bring the whole thing crashing to the ground! The sooner, the better!

i think seeker has it right!

btw, i dont believe anything i read on b4itsnews, it just a paranoia site, kinda like this one.

April: 18.5
May: 3.9
June: -7
July: 3
August: -30.1

Banskters and the Markets will bring down the nation first and its citizens than losing their profits.

Or everybody forgot that we were forced to bail them out the last time, perhaps people needs to understand once again who runs our government.

The loss in non-farm jobs is not new, and is not overstated is real, our datas has been sugar coated for years, even those years Under the Bush administration that he used to claim that our Markets were strong and our economy peachy.

Wake up people, the downfall of the America economy started no with Obama neither with Bush but many years earlier when Clinton gave away Americans job thanks to signing Free trade.

Learn your history children and stop been deceived by political propaganda.