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Industrial Production Surges Most Since May 2010 Thanks To Subprime Auto Loans & Polar Vortex 2.0
Thanks to 'entirely sustainable' 5.1% MoM surges in both Motor Vehicle manufacturing (thank you Subprime) and Utilities (thank you Polar Vortex 2.), Industrial Production in November surged 1.3% (against expectations of +0.7%) for the biggest rise since May 2010. For context, November's surge is the 2nd biggest monthly rise since October 1998... sound right? With factory output now above late-2007 pre-recession peak levels, it seems The Fed will find it hard to talk this one down to justify lower-for-longer...
The 2nd best monthly surge since the crash... or October 1998!
Factory output is now estimated to have been above its late-2007 pre-recession peak in both October and November. In November, the indexes for both durables and nondurables increased more than 1 percent, and the output of every major industry group increased or remained unchanged.
Among durable goods industries, the output of motor vehicles and parts jumped 5.1 percent as a result of an increase of 900,000 units at an annual rate in total motor vehicle assemblies.
In November, the output of utilities jumped 5.1 percent, as weather that was colder than usual for the month boosted demand for heating.
Thank goodness for the Polar Vortex 2.0 and subprime credit. This is what the US economy has come to.
Charts: Bloomberg
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Raise those rates, Mr. Yellen!
Raise rates? Not,... gonna,... happen...
Funny thing: Over the weekend, TV was bombarded with car commercials all pushing 0% financing for terms of anywhere from 60 to 72 months. So let me get this straight: auto companies are willing to lend you $30,000 to $40,000 interest free for 6 years???!!!
If auto sales are looking so good, why do they have to extend those kinds of terms?
This is all going to end just like subprime...
Buy a car you can live in
And call yourself a "home owner with low property tax".
Those charts over the last 4 years look like something China produced out of their Ministry of Propaganda.
Oh....wait....
GM is alive bitchez but give us your soul for 7 years first.
I went looking for new vehicle, the new GMC Yukon Denali is 75K!
That is at least a 15 year mortgage
Industrial production surged....
So where are they storing all that produced shit because looks like nobody is buying.
recall ZH spot a few months ago of aerial views of new auto graveyards around the world
I would assume that our cars that we export are going to be a lot more expensive to buy....but that is so Econ 101....fewer exports...
If you cannot afford your own place to live, a new car is the next best thing.
lmao....that is hilarious and true. Here in shitville SE Illinois, you can drive around town and see big jacked up $50K 4x4's and $ 30K Harleys, and $ 10K ATVs parked in front of most old rundown 1,000 sq ft, Section 8 Houses and mobile homes. Gotta have a nice ride to get to the Food Pantry and Liquor store to get cigs, beer and lotto tickets....oh...and to get to ER evertime you sneeze for that Free ObamaCare. We're FUBAR.
Here in commie fornia every collage grad and every service employee drives new cars! Me the business owner still have my five year old Ford.
How could this be? ! Oh yeah I'm stuck with the social welfare costs!
Fuck you Barry!
In another topic someone asked "have you ever bought something that said 'Made in Russia' ? "
But here in Europe at least for the last decade or so i haven't seen a lot of products that said "Made in the USA".
"have you ever bought something that said 'Made in Russia' ? " Only my vodka and my ak47.
AH I see....so NO 'great connedsumer windfall' due to lower energy prices at all.
Industrial Poduction rose to a seasonally adjusted 1.3 That means we did fuck with the number just a little bit.
Fascism's the way to go. Long live Mussolini
I've never bought anything made in Russia....but I'm seriously considering one of those Russian Homegrown Babes on my sidebar ad.