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Factory Orders Plunge 5th Month In A Row As ISM New York Crashes Most Since 2007
On the heels of the biggest crash in ISM New York since May 2007 (swinging from 9 year highs at 70.8 to 6 year lows at 44.5 in one month), Factory Orders plunged 3.4% in December (against an expectation of a 2.4% drop) - the biggest drop since Mar 2013 (ex last year's Boeing swing). Factory Orders 3.6% YoY drop is the largest since Nov09. Which explains why stocks are soaring... (despite Fed's Bullard saying "there is a lot of momentum in the US economy.")
ISM New York Crashed...
and factory orders plunged...
The biggest YoY drop in Factory Orders since Nov 2009.
Charts: Bloomberg
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"Momentum"
To the downside.
Blame it on the brutal winter weather in 3.....2......1.....
Momentum means simply a movement in a certain direction. Velocity is a term that he conveniently left out.
"swinging from 9 year highs at 70.8 to 6 year lows at 44.5 in one month"
OK, THAT is finally a fair place to use the word "crashed" in an article.
This is an apt example of what is happening in the American economy (~1 minute):
https://www.youtube.com/watch?v=lksDISvCmNI
Sounds like the Fed will probably have to give up the raising rates plan for a while with all this fresh awful data coming out, but don't expect them to say so until they've shored up the dollars strength to the point they feel reserve status has been propped up as much as possible. The first prospective tip-off on a change of course would be worsening (fabricated) employment data on Friday, which they would point to in altering their high-priced blatherings from the next meeting.
Things are changing more quickly now.
Come on cant you see markets up oil up gold down all is same as ever was and they will never let it be what we expect.
How does that explain why stocks are soaring?
As long as stocks react positively to bad news, there will be no QE.
do stocks going up op bad news not reflect te expectation of more QE?
As the DOW skyrockets with a one percent jump up on this "excellent" news. <sigh...>
Up is down. Black is white. Being a leech, living on other people's money, when one is perfectly able to work, is noble.
Causualty of the Currency War?
Nahhh. No fucking demand. However, I am not an economist...this is just my take.
I think Bullard is telling the truth, there is momentum in the economy, just not in a positive direction.
So long as there are 7+ billion people (and growing) all competing for a higher standard of living and all the real resources and energy that is required for that standard of living, there is plenty of demand.
But perhaps you don't agree? In that case, perhaps I can interest you in a financial "product"...
...LOL!!
Perhaps no income to satsfy demand. I have demand for several goods but I only need a few of them. This fact has been in the forefront of my mind when making purchasing decisons. I think I am not alone.
If so it's lagged, as that would imply higher unemployment and lower hours worked due to lower margins. But if oil has fallen so fast in response to affordable levels with better margins, it can bounce around a bit.
In the end macro is down trending four years in a row and my guess is that will continue, for as long as toxic zombies keep attacking, and are not being put down. Certainly QE hasn't helped stop their steady downturn.
I have demand for Elle Macpherson (yes, even with her at 50 years old) but the supply side is not functioning properly. Maybe if I print some money...
Blame it on the snow, that was falling, falling.
Bullish!
No worries, in a few minutes Bullard will speak.
We still have a factory?
It only produces ink toner.
For printing money?
Everything is awesome!! No stopping the green ramp monster!
"most since 2007 [or '08 or '09]" is a common refrain around here. What does it all mean???
Like walking into a bar.
Its all down hill from there.
Looks to me like they are getting behind "the Curve".
bullard announce the top
A) I love how the prior release was revised a full 100 bps lower after the fact.
B) Notice how everytime prior to 2009 factory orders went negative YoY, we were entering/in a recession, and how many negative prints we've had since 2009?
The shit is heading towards the fan pretty quickly, can K-Hen get in between them to stop the impact?
Bullardish!
LOL!! Senators complaining about "currency manipulation" by other countries. The solution; print MOAR!!!
Fucking complicit criminals, nothing more. Start executing these fuckers already, nothing changes otherwise. How is Ryan still in CONgress? I thought he lost? WTF?
The circus is burning down and all anyone can talk about is the Super Bowl.
Cuomo is too focused on keeping himself out of jail than creating a business friendly environment in NY.
New York open for business
/s
Stawks shrug it off as oil crossed 50? 200 points on the Dow?
What matters anymore?
See how bullish this is? Dow up triple digits triple digits triple digits !!!!!!!!!!!!!!!!!!!
^^ That's the new catchline on the sqwakbox....TRIPLE FUCKING DIGITS!!!!
That "momentum" in the US economy appears to be down.
Terminal velocity has ben achieved.
Tallyho !
The entire fucking market for the last year has been see sawing between 18k and 17k. Lol what a joke! Dow will be up 200 today down 300 the next up 350 then down 400. Meanwhile the U.S. economy has stage IV cancer and is on life support, the patient smoked their whole life and got lung cancER but family is crying asking how did this happen!!!!!!
Fed's Bullard saying "there is a lot of momentum in the US economy."
this is in fact correct - downside momentum
fuck you bullard!!!
Momentum, as in a lot of people are hauling ass!
Bloomberg tv was scrolling that Chrysler has had sales gains for 58 straight months. Is that statistically possible???
How a people were raped: America treason of our leaders- plain as day...
"Sen. Jeff Sessions (R-AL) is calling for an investigation into the recently exposed “shadow” work authorization system, in which the Obama administration has allowed millions more immigrants than Congress mandated to obtain work permits.
“This massive increase in the labor supply has occurred simultaneously with a steep drop in family incomes and a sharp rise in the number of Americans pushed out of the workforce,” Sessions said in a statement Monday. “All jobs gains since the recession have gone to foreign workers, while the slack labor market has depressed median family incomes almost $5,000 in that time.”
That's only one of the orifaces in which we've been raped.
We've got Uncle Sam's cum dripping from every hole....
I have a list of things I want to spend money on (extra) that I am waiting to purchase as I perceive this ship to take the big hit. That is why I am here, to find the truth in the noise... and to downvote BS for sport.
FED VORTEX
Boring, silly, stupid stats, how long until the next football match?
Steve LIESman: "This just doesn't make sense, the fundamentals are strong"
Liesman is such an ass clown. He strenuousy defends our Fed and Sell Side like they pay him....hum, maybe they do...maybe he just plays a role....
Simple...market must be stable/up when first rate hike announced as they WILL normalize, they have to
The market is up due to oil prices rising? But it didn't go down with oil? ecuses for the market up but never going down?
Hurry Kevin ,crush the VIX and Gold! market is dropping!
It's my fault. I didn't run out and buy a big flat screen TV like I was supposed to. I didn't run out and buy a new car like I was supposed to. I didn't spend a lot of money on a vacation like I was supposed to. I didn't run out and buy an iPhone 6 like I was supposed to. I didn't run out and buy a roof full of solar panels like I was supposed to. I didn't hire a contractor to re-side my house and replace my windows like I was supposed to. I didn't replace my major appliances like I was supposed to. I also didn't quit my job and go on public assistance like I was supposed to.
Solar panels are actually a very good idea.
And you need to get fired/laid off, not quit. Not that it's too hard to do, if you really put your mind to it. Unless your job is like in Office Space and you end up getting promoted for slacking off.
I'm doing all I can to make sure that factory order plunge. Buying basics, withholding my consent via my wallet. We have to fuck ourselves in order to eventually fuck those, who are fucking us. Live, learn, fight back.
How true Col. Klink. Starve the beast of what it needs to most...money! If only more people would do it, we COULD make a difference. I sure don't want to see mad max, but if things continue on this trajectory, I might just invest in a certain factory that builds things to remove heads...and go long rope and pitchforks!
We may be heading that route anyway, I can't help but think this Ferguson thing ain't over, I still read stories about some bad stuff happening.
Tip of the iceburg is all we see anyway!
And yet there are still one or two innovators - not yet beaten down by the system:
http://www.cnet.com/news/freedom-clip-busts-your-keurigs-drm-coffee-shac...
Mind you - it is for awful coffee - produced in an awful manner - but still someone is trying to beat the "system"
ah, well, since we are producing less and less each year, due to offshoring of manufacturing, is it any wonder? It's a service economy now, soon we will all be selling each others services, if we're not already doing so.