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"Core" Durables Goods Orders Plunge For 10th Consecutive Month As Defense Spending Soars Most In 8 Years
If it wasn't for America's war machine, the economy would be deep in recession. Defense spending (aircraft and parts) soared 148% in the last 3 months - biggest such rise since 2007 managing to squeeze Durable Goods Orders overall to unchanged in Nov (vs -0.6% exp). That's the good news. Everywhere else you look bad. Core Capex fell 1.93% YoY - the 10th consecutive YoY drop - something not seen before outside of recession.
As Bloomberg breaks it down, the pause in equipment orders represents one of several challenges facing American producers, who are contending with a strong dollar, tepid overseas demand and a recent inventory overhang. At the same time, resilient consumer demand that includes steady growth in auto sales is helping soften the blow to manufacturers. Bookings for non-military equipment excluding planes declined 0.4 percent after a 0.6 percent October gain that was about half as much as initially reported, data from the Commerce Department showed Wednesday. The value of orders for all durable goods -- items meant to last at least three years -- was little changed
Shipments of non-defense capital goods excluding aircraft, which are used in calculating gross domestic product, decreased 0.5 percent last month after a revised 1 percent slump in October that was twice the previously estimated decline. The figures indicate fourth-quarter capital spending will cool after a jump in the previous three months.
Spending on equipment increased at a 9.9 percent annualized pace in the third quarter, the strongest since last year, Commerce Department figures showed Tuesday in its final estimate of GDP.
Defense Spending New Orders has soared 148% in the last 3 months... the biggest rise since 2007
As Bloomberg puts it, "orders for military equipment jumped 44.4 percent last month, the most since April 2014. Excluding defense hardware, durable goods bookings fell 1.5 percent."
The spike in defense spending dragged YoY Durable Goods Orders into the green
But in the core... we are flashing recession...
YoY, it's a disaster almost everywhere...
Charts: Bloomberg
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If you are arming and bombing ISIS at the same time as no one knows who is in command, defense spending has to rise.
$6 trillion already wasted in the wars in Iraq and Afghanistan - so few hundred billion more wasted will not be missed.
My latest Sam's flyer has $600 off one years survival food for a family of 4......I kid you not.
While supplies last.....move your ass!
Freeze dried food is the last resort. Better to create your own sustainable reality and grow most of your own food.
While indeed freeze dried food may be the 'last resort', it is in the end, still a 'resort'. And it will feel like one too when that's all you gots left. I would no more rely on my 'garden' to get me through an (extended) rough patch, than the .gov itself...
Please cancel your Samsclub membership unless you like to support a Racist Sexist Affirmative Action Leftist CEO
Boycott Sam’s Club After CEO’s Racist Comments About White Maleshttp://www.thegatewaypundit.com/2015/12/americans-boycott-sams-club-afte...
One man's waste is another man's profit.
Remember, everytime you see a campaign ad on TV, those are your taxpayers dollars at work. Built into the price of every bomb, tank and plane are lobbying bribes to our backstabbers in congress to promote the perpetual war.
I'm making over $7k a month working part time. I kept hearing other people tell me how much money they can make online so I decided to look into it. Well, it was all true and has totally changed my life. This is what I do... www.wallstreet34.com
Let's at least be honest and inscribe "In the MIC we trust" on our coins.
I dunno. Looks like we're on the upswing from the recent lows, just looking at the graph. Regardless, it doesn't matter because none of us will live long enough to see the next officially declared recession anyway.
All clear. Continue buying stawks.
In Colorado pot sales are highest ever...lol...pun intended....theyare using all the energy in the grid...grow lights
My bother was traveling lately.....coming across the Colorado border the state patrol pulled him over checking for pot.
Going back over the Colorado border the state patrol pulled him over checking for high capacity magazines.
Welcome to the balkanized United States of America....
Ramping up for war.
Merry Christmas.
Isn't a Tank a durable good? Fuck it, might as well manipulate those numbers as well.
The only thing the U.S. excels at is war and killing people.
We are great at killing people, but not so good at winning wars.
The is what happens when war-mongers like "Insane" McCain lead our country.
Sad days for Amerika.
McCain is POSOTUS? Wait, what timeline am I in? Stupid DeLorean! That's what I get for using sub-standard flux capacitors!
I disagree 100% We excell at wealth transfer from taxpayers to special interests like the MIC. Killing people is a minor side affect. To wit, we bomb lots and lots of empty buildings just so long as we bomb aka flushing money down the toilet. Then we turn around and send contractors to rebuild to gain the hearts and minds of the people we bombed at maximum taxpayer expense which almost NEVER reported in the MSM.
Winning has never been the issue. Why the fuck do you bring that up?
Its the PAC donation cycle. How the hell do you think all of those campaign ads are being paid for on TV? Where the hell do you think that money comes from? YOU IDIOT. Winning isn't an option. The perpetual war is.
McCain promotes the perpetual war because HE IS PAID TO DO IT (lobbying bribes).
You're about the 10 millionth idiot that complains about war and doesn't have a clue, why we do it.
It's not "defense" spending. It's WAR spending supported by the Department of WAR.
And if the tables were turned, the "other side" wouldn't give a fucking shit about you and would slaughter at will.
Be thankful that the insanity in Washington DC is the mildest tyranny this world has ever seen.
Or we could go to a genocide Russia system, a Chinese system, a Nazi system, a Napoleonic system, a Spanish conquistador system or we could join the land of "what's your last name" in England.
It's a business and it creates control for those who own it - the US. Stop fucking whining.
Or we could actually consider proper financial management. QUIT YOUR FUCKING WHINING!
The ones with the weapons don't whine. They exterminate.
Proper financial management? What the fucking hell does that mean? It's agendas dumb ass.
You sound like one of those minion, love to cue, limeys. Fucking alcoholics.
Right out of the classic Orwell text (paraphrasing): Denying the proletariat i.e. working man to the labor saving and wealth creating fruits of machines by using those very same machines to produce the weapons of war to both destroy the machines themselves and to deny said people the benefits of their wealth creating properties resulting in the impoverishment of the people...
War. What is it good for? Absolutely Nothing. OR
Profits. Economic Growth. Inflating the numbers.
Yup, Uncle Fraud displacing the consumer with more military spending. Blowing things up, that's our specialty. We don't care what it is, porta johns, dog houses, we'll send in a $65,000 bomb and take care of it. Its for our safety.
I'm sure glad Obama won that Nobel Peace Prize thingy ...
(that gives him cover to build weapons and blow up families)
(spreading peace)
(and our expanding "Recovery Summer")
(... almost recovered now)
Since when does US military expenditure qualify as DEFENSE spending?
Moar military spending = false rise in the GDP
Produces nothing to add to the nations GDP wotrthwhile. Simply lines pockets of the DC-area contractors, politicians and bankers.