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Worst Drop In Core Durable Goods Since December 2012
Having missed expectations for 5 of the last 7 months, Durable Goods New Orders jumped 4% MoM in March - the biggest jump since the July Boeing aberration all driven by a 112% surge in defense Aircraft new orders. Not surprisingly the Department of Commerce tried to pull this trick off in late 2007 in a last gasp desperate attempt to mask the arrival of the US recession then.
Durable Goods New Orders (ex-Transports) fell 0.2% MoM (missing expectations of a 0.3% rise) for the biggest YoY drop since 2012, some -1/9%, and under the covers it is ugly - Capital Goods New Orders non-defense, ex-aircraft have now fallen for 7 straight months, missing expectatons dramatically (-0.5% vs +0.3% exp.). These numbers have never fallen for this long a period without a recession.
Durable Goods New Orders Ex-Transports... never fallen for this long witghout a recession...
and Capitakl Goods New Orders Ex Defense/Aircraft dropped yet another month...
Meanwhile, one can now add core durable goods to factory orders, wholesale sales, export growth, credit rejection and control retail sales as declining year over year.
... oh, and core capital goods orders as well.
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Yep, and there goes the S&P, up on the news.
People with QE cash have money to burn. People with 29.5 hr/wk jobs, not so much.
You know the end is near when more war machines are needed to boost the economy.
S'okay. Billy Buiter said we shouldn't be allowed to think about that cash as ours anyway.
That turd needs to slither back to that rock he crawled out from under.
With people start saying things as idiotic as banning cash it starts reading a lot like the stuff they were spewing back during Depression #1.
If by "spewing" you mean "issued executive orders", then yes.
" People with QE money ...."
Roger that.
The only folks remodelling, buying new BMWs, vacationing, etc are the QE recipients and/or gubmint workers. O&G people have now battened down the hatches and spend zilch except on necessities and join the millions of other private sector small business people and Middle Class private sector who have already been devastated or close to it by this "Robust Rekovery."
Markets love layoffs, yes they do.
Couldn't agree more
After Texas-based Schlumberger Buys Into Russian Oil Firm……It Lays Off 20k People
When peaceful people won't buy your plastic $hit, then make fearful people buy your war $hit...
Looks like another 100 points in the Dow. This news is just what they wanted to ramp up the algos. This will end in a disaster as everything this group in DC touches does. Which one of the clowns will get on the news today about the impending rate hike!
LETS RAISE RATES!!!!!!!!
"C'mon everybody...do the Volcker!!"
Mass suicide. Sounds fun.
"Does your Kool-Aid taste funny?!"
Jim Jones served grape Kool-Aid .... in his Guyana experiments .... curious, the grape is relatively unknown .... in central Africa ?
You're telling me there are black people who don't know the taste of a grape flavored beverage?
I don't believe you.
You need to stop drinking NeHis and get into the inner city more, Honky. :p
Also relatively unknown in Grape Kool-Aid. I think of it more as "The Flavor Purple", now with less Oprah.
Lets not and say we did.
Teribble is the new Awesome! If they keep destroying the middleclass it only gets better and better....till the shooting starts
Don't worry just buy Amazon because someday they're going to make $3-4 a share and will actually have a PE. It will be in the hundreds but it will have a PE.
They need to start including share buy backs and corporations buying each other in durable goods. After all stocks are "durable" and "good"
Worst drop? Expect new market highs then...
http://olduvai.ca
meaningless information in the current market environment. see below:
http://www.zerohedge.com/news/2015-04-24/i%E2%80%99m-not-crazy-i%E2%80%9...
We just "sold" a ton of F-35s to Israel. So the US taxpayer (or their children) add another couple billion to their debt to make the Jews more comfortable. A price we should all gladly pay for our role in the Holocaust. Wall Street bankers are still traumatized by that event. Besides Lockheed martin needs a few more billion too -they need extra cash and profit so they can figure oput how to make planes that really work. They better hurry up before the Russians start rolling out their new kickass fighter jet.
Thank God we are giving those flying coffins to the Israelis. Let their pilots go down instead of Americans.
I don't think the F-35 fares too well against the Su-27/30/35 variants.
More IPOs and stock buybacks, problem solved. Infinite Federal Reserve money for this purpose.
Why would anyone put their hard earned money into the stock market? If the government doesn't rig it, the insiders running the company will.
Lol.... that's not money you are working for.... it's an IOU.
Fiat currency is not YOUR money bruh.
Fiat sucks so bad the bank don't even want it!
pods
"fiat sucks so bad in the bank don't even want it." ~ Is that chase banks new motto?
As long as more bad news for the (middle modern day slave class) is abound, the market will continue to go higher. QE for the elite, crumbs for everyone else.
Durable .... good .... non-durable .... bad .... Harbor Freight .... so so !
Biggest miss since Lehman?
I miss the "worst since Lehman" headlines. :(
it isn't a recession if you ignore the data!
Govt sponsored Ragnarok anyone?....
Barry Soetoro isn't selling as many guns in America, so the durable goods number is now droping. He can boost the number by another gun control psyops.
Another day, 20 more bearish articles from ZH and another all time high on the NASDAQ.
Better be a new high at damn near a trillion dollars a month.
Here, go play checkers.
The new dance craze sweeping the nation...
Create moral hazard, so no 1 has to earn
$30 trillion for bailouts, now the middle class is fucked...
People with QE cash have money to burn
Those with part-time McJobs, not so much
Come everybody
Do the Volcker!
Written by DJ Yellen,
produced by ZIRP/NIRP Productions,
co-produced by Helicopter Ben
Better save some of that money-burning cash for bodyguard details, just sayin.
just make sure that those bodyguards aren't from the middle or lower classes, or have friends/family in those classes, they might just turn their guns on the bodies being guarded.
Good orders down - AMZN up. Central planning works.