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Government Construction Spending Surges Most Since 2006
After 4 months of missed expectations, US Construction Spending rose 1.1% in October, beating the 0.6% expectations, and the highest MoM since May 2014. Great news... the recovery is back, right? Scratch barely below the surface of this algo-loving headline though and the unsustainable reality peaks out. US Government construction spending spiked 19.3% in October, the most since 2006... seems like we need to dig some holes and fill them in again...
Yay! Headline construction spending rose more than expected....
Driven by a huge spike in government construction spending...
And stocks love it!!
Charts: Bloomberg
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Countercyclical spending!
But why?
MOAR FEMA "FREEDOM CAMPS"
Maybe it has something to do with those extra fortifications they just installed at my local military base.
Not sarc.
They'd better....the American public is armed to the teeth.
Shovel ready!! #Bullish!!
"we fixed some bridges..."
That ditch is Boss Kean's ditch. And I told him that dirt in it's your dirt. What's your dirt doin' in his ditch?
Please for the love of God send that money to Pennsylvania.
-Everyone
All contributions will receive a personal reply.
We immured some folks.
they must have known consumer spending was going to tank this year, so there you go. In a few months, when you are wondering how we managed to make a 3.5% GDP print despite really shitty holiday spending, and the fact that its cold and sometimes snows during winter, here is your answer. The govt taxed/borrowed/printed some moar money to waste on bridges to nowhere in order to keep the illusion alive for 1 moar quarter.
I dont mind construction spending if it really serves a need But all the construction going on right now dont make sense. I see tons and tons of construction going on across thr city but the unionized workers are taking their long sweet ass time doing it and in process hindering traffic and such. It only helps those unionized fucks to get a paycheck for their lousy work.
I see new street lights and median strips being installed where they aren't needed for another 10-15 years.
They just put new LED streetlights up in our hood. Things are like a quasar.
pods
Moar FEMA Camps?
We built a cage on the capitol
The government...building ugly, expensive buildings since forever....
Need moar .gov bunkers for WWIII.
building extra fema camps is good for the economy
TEAM 1!! DIG A HOLE!!
TEAM 2!! FILL THAT HOLE!!
team 3 print the money to pay for teams 1 and 2.
Krugman in a nutshell.
Moar high security golf courses?
Have to provide jobs for illeals. Their future democrats once they get amnesty.
http://cdn2-b.examiner.com/sites/default/files/styles/image_content_widt...
You gat to make that debt hit new record highs...18 trillion is chump change...set your goals higher,,,,,Obama is the man..go for 30 trillion
Obama tells the Oligarchs and more specifically the FED what to do?????
All this time i was mis-informed.
666 trillion since the fucker is a luciferian
In that case, I can't wait for the Q4 GDP "print"
Ludicrous
Moar Residence Inns for the illegals crossing our borders... Moar Ebola units for the non Amerikans working in Africa.
bridges to nowhere...
highways to hell....
USA, USA, USA!!!!!!
Does not matter as normal construction workers I know will not be able to work there. You know the kind either illegal to start with or its the dude that is missing a tooth, been divorced twice and had a past DWI. Has a unpaid speeding ticket in Kansas and owes 6 months back child support. You know the kind of guy that will and can bust his ass and actually do a job and get it done.
Then you look at the federal construction job requirements
Hair drug test
background check
no felonies
no misdemenors in past year
5 years verifiable experience
ect. ect.
So the cheerleader from high school qualifies but the average American construction worker is SOOL
All bald, hairless illegals (no FICO or FBI assumed) apply immediately.
not to put a damper on your rant, but MOST jobs require a background check, credit check, and a drug test these days.
I guess using the dollars to upgrade the electrical grid would make too much sense.
brother owned a very successful drywall business all through the 90s into early 2000's. He was in Michigan. I was transferred unfortunately to Chicago by employer in 1998. When I saw the number of illegals in drywall business hanging and finishing board at early 80s prices I called younger brother in early 2000's and told him to sell his business while it was worth something before the illegals moved to Grand Rapids. By 2007 he walked away it was worth nothing. But hey, who listens to the older brother right. After all,,, I did move my family to the government and crony capital of the world.
It is depressing Deerhunter. The hollowing out of the construction trades is slow but steady. Of course, we can just executive order everyone to be legal and all problems will be solved. At least so I am told, and I always believe what "big" brother tells me.
So....what are you all building over there ?
Something we over here should know of ?
Glory holes
Did they re-seed the White House putting green?
For sure it's not the Mexican border.
Are they STILL working on that money pit Congressional Museum?
edit: Capitol Visitor Center
Agenda 21 projects
i just want a job so i can buy a jar of peanut butter, and some bread, maybe a chocolate bar or two.