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July Factory Orders Soar By Most On Record
Sustainable? Thanks to various massive airplane orders (as Ex-Im is threatened with extinction), US Factory Orders rose 10.5% MoM in July - the biggest MoM rise ever. However, this was a miss against expectations of an 11.2% rise and perhaps most critically, Factory Orders Ex-Transports dropped 0.8%, also missing expectations with its worst print since March 2013.
Factory orders spike (but miss)...
As Ex-Transports dropped most since March 2013.
So where did the boost come from? Same place where the record surge in durable goods orders arrived last week: Boeing airshow orders, funded courtesy of the ExIm bank and never before cheaper credit.
Finally, those curious what the level of inventory is, here is the answer: Inventories of manufactured durable goods in July, up fifteen of the last sixteen months, increased $1.9 billion or 0.5 percent to $401.5 billion, unchanged from the previously published increase. This was at the highest level since the series was first published on a NAICS basis and followed a 0.4 percent June increase.
Best wishes selling all of that record inventory.
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Why do we even look at data? Just BTFATH. Data isn't relevant.
Make me wonder how airplanes get repo-ed when so many are bought with sub-prime loans?
Ahh thats simple and a cunning plan.
They hire the goons in Kiev to do a bit of staged accidents and claim on the insurance.
Not sure what the whiplash claims figures are though
I read an article a few months ago that there are people who do repo's on everything from small private planes to big commercial jets including swiping planes from government carriers in foriegn countries.
The only factories doing well are airplane and bullshit factories.
pods
Dildo factories are also booming. Bend over US taxpayers.
Also mfg's of anything KY related. Mucho Lubo needed in today's economy, particularly Yellen; word on the street is she orders it by the tanker car load.
Oh shit! Those 14 inch monster black ones I'm shure are gonna hurt like a mofo
Biggest report on record, followed by the smallest on record! These reports are being pulled back and forth between liars and government idiots, until eventually they all collapse on the weight off their own bullshit!
Bad news for people who love bad news.
Great news for people who love bad news but need bogus good news to play the suckas.
In all cases, this means algos.
two MH 777s and 11 other commercial airliners "lost" in Libya. bullish.
You win the Krugman!
With the Boeing Honeywell Uninterruptible Autopilot in all Boeing planes except Lufthansa, http://en.wikipedia.org/wiki/Boeing_Honeywell_Uninterruptible_Autopilot , most definitely bullish!!
Cool, so rates to at least 2.5% announced today I'm sure.
And what does the Baltic Dry Index have to say about that?...
Oh wait a minute we fingered those numbers as well!
What factories are they talking about and where are they...? /s
Isn't it wonderful when we had an economic advisor in that past U.S. Administration that declared "hamburger assembly" a manufacturing related job to offset all of our IT going to India and China after 9/11?!!!
God Bless Goerge W. Bush! And God Bless America!
What factories are they talking about and where are they...? /s
.
Govt at it's best - employing people to do worthless things, like putting together worthless reports.
When the Fed says that the price of credit is zero, then credit no longer exists and economy become centrally planned and profit is banned, you know, gov never loses money right?
That is until commodity and energy suppliers wordlwide simply stop supplying them, which has already started.
World trade is dying.
Welcome world chaos.
Very soon countries one by one will follow Indonesia's example and simply officially ban commodity exports, not just reduce them.
Two very good points. And Columbia and India did indeed ban exports (coal and iron ore respectively.)
This is the problem with fiat money..."real goods trade in it." Yes, even gold.
Of course "when the price of said real good does not comport with value of said fiat" etc, etc...
You can't get from one ghost city to another without ghost jets.
Headline should read "July Factory". Give me a list, otherwise it's all bullshit.
I can tell you the Airplane orders game is A BUNCH OF CRAP! I live outside of Wichita home of Boeings largest fuselage contractor (Spirit formerly their largest plant outside of Seattle but spun off 6-7 years ago) just last week they had company wide meetings where they ratched up the twisted arms game as they have been putting the heavy pressure on forcing early retirements. I have friend in their finance Dept. and they have been laying off, squeezing and twisting arms like crazy over the last two years. People are leaving out of sheer exhaustion and frustration.
Now couple that with HQ for Cessna, Hawker Beechcraft and Lear Jet and guess what this FANTASTIC business has been layinging off folks at a pretty good clip for 4 years now. Employment in the sector (not counting suppliers) is down another 2.5% thru August this year.....The key thing to look at is the Bookings Vs. Sales and what is counted as sales is Bookings NOT Deliveries (similair to to the car sales scam were they count shipments to Dealers as sales instead of actual customers). Let me tell you the wiggle room on Bookings is HUGE. In otherwords they are intentions with extremely long leadtimes and cancellations. Anyone who does much flying knows Flights everywhere and anywhere are being cut like crazy. I'm sure you have all heard the stories or lived them. How this results in massive monthly increases in BOOKINGS every month is B.S. I maintain due to the big dollars involved and the black boxes of leadtimes and intentions this is a godsend to the Data Manipulators. More wiggle room than a size 58 pair of BVD's. What is being expressed is not reality its Manure.
Thanks for posting that.
"Long leasing...
Probably building them in China.
This makes it tougher for the Fed to reverse QE. But I'm sure Draghi can help out there. Mother Cluckers!
Ummm... I'm kinda new to this kinda thing. Sooo... do you think they'd let me order 3 (metric) tons of physical gold and put it on the new credit card they are gonna give me? Or maybe I could get a govamint subsidy? See, if I could get Reed and Pelousy (with support from McSame) to front me a special credit based on planned hiring of illegals... ummmm... I mean new humanitarian special needs imigrants in the not too far distant future, you know? I bet Goldman would under right it and float the credit insurance and even help with the paperwork to sell government certificates covering the loan!!! Of course, there would be considerable overhead from processing all the paperwork... Hummmmmm????? Whadda ya think? We good to go? (Disclaimer - even though I use the word "we", that doesn't mean YOU get anything. I'm just being inclusive.)
Is Boing finacing Kiev by any chance, Airbus ??, Do they have plans they are not telling us about yet.
I think I will take a parachute with me next time I fly
The factory orders, they could come in only from the Army.
Or is there anything else still produced in US?
Inflation kicks up GDP. It would be hella stupid to buy tons of inventories especially in volatile markets because inventories are illiquid.
If they're kicking up item count, look for discounts (that's what they should be doing with necessities, incl. food/oil/etc.)