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US Factory Orders Drop For 6th Month In A Row - Worst Since Lehman
Must be the weather... since August. US Manufacturers New Orders tumbled 0.2% in January (missing expectations of a 0.2% rise for the 6th of the last 7 months). This extends the losing streak for factory orders to 6 months, something we have not seen since the great recession in 2008... The drop was led by a plunge in Consumer Goods - not exactly what one would expect from all those gas savings? Just add it to the growing list of missed macro data expectations since the start of Feb!
We suspect this puts a final nailk in the coffin of low oil prices being positive for consumers...
This extends the macro misses for US data to dismal levels.
Charts: Bloomberg
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Yay.
US Factory Orders Drop For 6th Month In A Row - Worst Since Lehman
OMG this is horrible news, you mean both of them?
How are stocks up? I mean really nothing but bad news?
There's always a KA before the BOOM!
Plenty of slack left on the long burn fuse of this economic bomb...
I'm not worried, Apple and Boeing will save us...
Classified under the 1947 National Security Act.
Just remember to NOT buy gold or silver....that's the most important meme on CNBS
Even the local Fox radio station has had hit pieces on gold two days running.
Well, that explains my relative selling his stack of 125 ounces of gold recently. I cringed....
Listening to various Fox-affiliated stations recently has led me to conclude that someone high up is passing out a new, less conservative set of talking points.
Come on now, its three.
Its almost like everyone knew that when the Fed turned off the QE firehose, it was time to get out of the burning house.
Yay.
bullish
Always.
No! Don't talk like that! EVERYTHING IS AWESOME!
who has any money anymore?
People who own PMs. Everybody else has fiat.
Well spoken, Sir. Good day.
depending what you have to sell, people have money, that is see every day. just gotta have what they want...
Gold is still tied to the exchanges with fiat. When a deflationary collapse happens, Gold will drop like a stone. It's not a safe haven at all in that scenario. Just look at 2008.
You're assuming gold is an investment, which it's not. It's insurance against monetary madness. BTW, the next deflationary crash, physical gold will not be available at the paper price.
Um... Do you even look at a freaking chart before talking BS? After 2008, gold rose about 1000 bucks you moron ^^
Hey dont be callin peeps moron. thats my job fvkface
In USD terms, Gold ended 2008 less than $50/ounce from where it started 2008, and then it took off. Yes, it dropped some with the initial market crash, and then it started getting bid up like crazy.
The paper price did. As I remember it was impossible to buy phyz for about three months.
PM's have alredy had their deflationary drop, its the papers turn.
In 2008-2009, we had "counterparty risk" take center stage with the collapse of Lehman and AIG wobbling on the edge. Counterparty risk always exists, but people tend to get complacent about it in "stable" markets. A normalcy bias tends to creep into people's mindsets.
This next crisis will very likely take that counterpart risk to a new level: sovereign nations and central banks.
When people lose faith in central banks and their (in)ability to manage the crisis with endless money-printing, THEN you will see gold catch a bid like never before. When faith in central banks gets shaken, fiat will be called into question and we'll be forced to fall back on the one "relic" that has functioned as a store of value long before the USD was ever a twinkle in its papa's eyes....
Truth!
Damned snow in winter time. Who Besides Al Snore would have thunk such a thing was possible. Where is that guy anyway?
the big melt up a cummin. here in snota we get that wild water thing bout every 10 years. assume you be bostonian or there abouts...
He only surfaces during the summer.
as of today, based on "market" reaction to the horrible economic data, it can be confirmed without a shadow of a doubt that it is all completely manipulated.
european bond yields crashing and they have the nerve to push our yields higher at 10AM when factory orders come in NEGATIVE.
they just don't give a rats a$$ anymore, as long as the manipulation brings greenbacks to their wallets. there is no fear of being caught or going to jail.
Glad it is the new normal and the market will rally on awful news!
"We really should have seen more consumer activity this past month with the drop in oil prices. Americans have stubbornly chosen to save this money rather than help support the recovery and struggling Americans. We have laid the ground work for a strong recovery, but we need the American public to participate to keep this trend in tact."
-Bill Dudley
Ole Bill must not take into account that Obama Care has shoved a fucking baseball bat up the consumers ass.
bust, boom, bust, thanks to the fed we are on the 7 th yr of cycle, busted, empire naked with 2 inch dick. what the fuck you going to do with that little thing? it be happenin, plan up or down, oh, down to da cycle lows. all charts say updise down hockey stick cept fed balance sheet...
i tried to tell you bitchez that stocks would never be as cheap as they were yesterday ever again but you wouldn't listen. lulz
Stupid fvkin morons, I ran out and mortaged my house, car, and kids and bought apple. I am going to be rich. Thanks for the stock tip Buzz.
you are welcome. normally i would have to charge you 2 and 20 for that tidbit.
Dont worry about your reward, I told Vinney to take care of you. He said "no problem boss."
Since when did reality matter in the land of the free - stocks are only allowed to go up as that is God showering blessings on this land and the Nobel Prize Winner for bringing peace and sweetness and light to this world:
That’s not the way the world really works anymore,’ he continued. ‘We’re an empire now, and when we act, we create our own reality. And while you’re studying that reality – judiciously, as you will – we’ll act again, creating other new realities, which you can study too, and that’s how things will sort out. We’re history’s actors.. and you, all of you, will be left to just study what we do’ Karl Rove
"Bull markets are born on pessimism, grow on skepticism, mature on optimism, and die on euphoria. The time of maximum pessimism is the best time to buy, and the time of maximum optimism is the best time to sell."
– Sir John Templeton
We are about two steps away from any negitive news being banned.
These numbers will be the properly adjusted!
I work in a factory that's doing great. Buying new machines and hiring new people.
We make medical equipment. In south florida. Something like 80% of our employees are cuban.
Thats great! Americans are getting sick at an amazing rate and Obamacare bucks are flying in through the window. It sounds like a bullish sign for the economy.
It's the weather
what does it matter?
The blue queen will soon fix everything
the red king will soon fix everything
hope and change is around the corner
inflation is not happening
deflation is not happening
we are not in a recession
obamacare is working
people will soon all have high paying jobs
a minimum wage hike will fix everything
the right to work will fix everything
technology will fix everything
global warming will fix everything
not global warming will fix everything
fracking will fix everything
cheaper oil will fix everything
a pipeline from canada will fix everything
more government agencies will fix everything
more security will make us all safer
less guns will make us all safer
less ammo will make us all safer
a democratic Ukraine will fix the world
a democratic middle east will fix the world
a democratic china will make us safer
endless lies will fix everything
The worse the news gets the higher stocks go.
William Dudley, of the NY Fed, is the man behind the curtain. Yellen is just a figurehead.
Up, up and away!
https://www.youtube.com/watch?v=5akEgsZSfhg
Bad news is good for stocks and good news is bad for stocks. When will fundamentals ever return? orually all indicators and reports say we screwed yet stocks at all time highs. The. System is broken and the ones that are tasked with fixing it are the ones responsible for breaking it.
I did my part by not consuming, as I already have to many goods.
"Tis true! .....too many goods! The more they trumpet 'everything is awesome', buy more, spend more, indulge, convenience, must have, etc., etc., blah, the more I find I'm resisting spending on anything waiting on the proverbial economic shoe to drop. Given the Obama administration track record on healthcare, foreign affairs, leadership, etc., etc., you just know the economy is going to crash and burn.
Gun show this weekend. It's ammo time.
where is this US Factory?
what hell are they paying sales reps for?
now go get out there and sell sell sell.......
do i have to do everything?
Some anecdotal evidence:
My company makes corrugated fiberboard (cardboard), I do all the corporate analysis for 4 plants. We have done nothing but grow by double digits for the past 5 years.
In the last 2 months I have calculated and analyzed our worst production volumes YOY...and not because of the WEATHER. We are down double digits from last year when the weather was even worse!
We are hoping it picks back up but a couple of shifts may be laid off if it doesnt...
I can not think of a single thing that I really want bad enough to go into debt for.
There are factories in America?
Where?
Assuming that they are, I think they might be aided by using analytics from IBM Watson. Must be. I saw it on CNBC.
Analytics will solve everything.
Too much snow? Not enough analytics.
Too much formaldehyde in your flooring? Not enough analytics.
Woke up in a field with your pants down around your ankles and a used rubber up your ass? Not enough analytics.
Obvious. Simple. Analytics.
We don't need any factories anymore with the print-happy Fed.
We flew too close to the sun on the wings of pastrami.
Doesn't this coincide with Stanley Fischer's gimmick of a strong dollar?
Wouldn't a diminishing of export orders negatively impact factory orders?
This kind of data fits perfectly with shrinking trade and global GDP numbers. If people won't buy, manufacturers can't produce, shippers can't ship, world economies shrink. It's called deflation but nobody seems to want to call it what it is.
The CEO of Maersk Line, the world’s largest shipping company, warned that global trade growth is slowing. Søren Skou told the Financial Times recently that the sluggish global economy is having a “huge impact for us as an industry.”
http://www.globaldeflationnews.com/deflationary-forces-creating-global-s...