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Q1 GDP Takes Another Hit As Factory Orders Miss
Yesterday it was construction spending that took the positive shine off a measly Q1 GDP print and today it is New Factory Orders. A mere 1.1% gain MoM, missing expectations of a 1.5% bounce (and down from a 1.5% rise in February) suggest anything but a post-weather bounce in the economy. This is the 4th miss in the last 5 months and missed even with a huge spike in defense spending (+21.5%). Who will be first to lower Q1 GDP final expectations today?
Of course, this is all in the past and so can be ignored in favor of hope... but wait - isn't the jobs data also from the past and yet we are happy to extrapolate that into Utopia?
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Whatever the official numbers are - lower them - then lower them again
Meantime two helicopters are down in Ukraine
Maybe Russia will sell them another couple?
Win Win, well, except for the pilots.
pods
~"Q1 GDP Takes Another Hit As Factory Orders Miss"~
But, but, but... According to Obama unemployment rates are down! And now two helicopters in Ukraine are down as well? How much good news can there be in one day? /sarc
Took em down with surface to air missiles. Damn, I've looked all over E Bay and they must be bought up when I am at work because I haven't seen any for sale.
Chart of the day, zero wage growth
http://www.forexlive.com/wp-content/uploads/2014/05/US-median-household-...
this NEW NORMAL shit makes me want to Puke..maybe i should just start smoking Meth or something and give up..
it can't be as bad for your health as buying silver has been for mine..."-)
I have heard you can meet some interesting people when you are on Meth.
Granted, most of them are not actually there, but still.
pods
Mark Zandi said the NFP report today confirms 3.5% GDP growth this Q.
Ha ha he
Oh and about that that big inventory build snap back coming in 2Q:14? The past 3Q of builds amounts to 14 quarters of builds at the average accumulation pace since 2000 or 8 quarters ex the crisis. GS is praying for an El Nino Utility Effect one way or the other
But...but....JAWBS!
Since the USA has a severe case of Memory Collapse Disorder, we should ALL recall what the healthy rate of unemployment is supposed to be:
HEALTHY UNEMPLOYMENT RATE: < 3.0 - 3.5%
This bears remembering and feel free to remind people you know.
Did anyone else notice the government economists over the past 6 years talking about healthy unemployment being 5.5-6.0%? Yes, they are moving the goal post and we are not supposed to notice.
A 6.5% unemployment rate means one important thing: YOU WILL NOT SEE A RAISE...EVER. Business will start you on a low pay track and you will "earn" the formula pay increases but there will be no shared wealth and prosperity when labor is so plentiful.
HEALTHY UNEMPLOYMENT RATE: < 3.0 - 3.5% Any higher than this is a FAILURE. Remember this!
Had to junk you on the basis that the unemployment rate is a managed figure to report so the masses can remain uninformed. I have long focused on the labor force participation rate. What will go widely unreported by the MSM is the exit of one million people from the labor force in April. Sure...288k jobs were created last month; but will the wages of those jobs and subsequent taxes offset the cost of one million more people receiving .gov love? I have my doubts.