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US Factory Orders Post Biggest Decline Since March 2009
That March factory orders declined 1.5% was not very surprising: the market was expecting a decline of 1.6%. However, this is not good news as the prior February increase of 1.3% was revised lower to 1.1%, netting out as a negative two month change. Where this number was troubling is that this 2.6% swing brought the index to its biggest decline since March 2009 when the pumping of trillions started.
And some other observations from the report:
Shipments, up ten consecutive months, increased $3.3 billion or 0.7 percent to $466.2 billion. This followed a 0.1 percent February increase.
Unfilled orders, up twenty-three of the last twenty-four months, increased $0.5 billion or 0.1 percent to $930.6 billion. This followed a 1.2 percent February increase. The unfilled orders-to-shipments ratio was 6.17, down from 6.24 in February.
Inventories, up twenty-nine of the last thirty months, increased $1.9 billion or 0.3 percent to $618.4 billion. This was at the highest level since the series was first published on a NAICS basis in 1992 and followed a 0.3 percent February increase. The inventories-to-shipments ratio was 1.33, unchanged from February.
And so on. This will shortly usher follow through revisions to Q2 GDP forecasts which is nearly half way into the quarter with less than a bang.
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Factory catastrophe!
The sad truth, and I cannot say it in Chinese, but :
All your factories are belong to us!
Chindia, giving it to the old manufacturing world on the Chin.
ori
It's called The New World Order.
The Careless Whisper Morning Update & Threadjacking
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Thank you CW, I really do appreciate your Updates & Threadjacking. I always keep a look out for them.
We will see about that. In the new People's Republic of America, all production assets belong to the people. Try to pry it from our tight worker's grips. NWO management will be replaced by Representatives of the Working Man and Woman.
There is no other solution. We're top heavy and need to feed 330 million people. Screw the Chinese and the golden dragons they rode in on. They bought our assets with obscene profits from decades of slave labor. We need to look after ourselves now. Let the Chinese worker fight in their backyard. Globalism be damned.
A factastrophe? Oh sorry, that's referring to Krugman:
http://www.nytimes.com/2012/04/27/opinion/krugman-death-of-a-fairy-tale.html?_r=1
My top wave counts as well as when the expect the next round of QE here: http://jmcaule-whatimlookingatrightnow.blogspot.ca/
I'm hoping for a down day today. That will give an aesthetically pleasing topping pattern for the S&P futures, three curled fingers surrounding an index finger standing straight up.
Launch QE3! the stock market must be saved!!!
RELEASE THE HOUNDS!
"Where this number was troubling is that this 2.6% swing brought the index to its biggest decline since March 2009 when the pumping of trillions started."
Tyler, you do have this right. It's flow, not stock. If QE isn't perpetual, there is no underpinning of a post Peak world.
It's their economy.
We just live in it.
I was being a bit nostalgic today, and was watching an NBC Evening News video from Summer 2006, with Nancy Pelosi screaming that creating 'Just' 450,000 jobs a month was the "WORST ECONOMY SINCE THE GREAT DEPRESSION!".
(Sigh...)
How could the sheeple have been so stupid as to swallow down spewing loads like this?
Does this mean channel stuffing has limits?
Someone tell Krugman and Liesman for me please.
interesting story about the Chicago Fed head wanting to keep pumping money into the economy;
http://www.theatlantic.com/business/archive/2012/05/a-rebellion-at-the-federal-reserve/256601/
Interesting how these folks don't care about debt growing as long as the economy is growing. Well, when the economy stop growing and the debt/GDP ratio goes haywire, what then..??
At some point in the future, when the economic picture looks a lot rosier, paying down the debt pile will be a priority, right..??
Are we heading for the same corner Japan has backed itself into - forced to keep interest rates at or near zero to afford servicing debt..??
come on bobola, it has never been the intention to ever pay back any of this debt, only to enslave everyone on the other side of it.
Law,
You could be right.
Greek and Roman history has shown that when most of the wealth eventually ends up in the hands a very few, then there has to be a reset.
Solon in Greece levied big taxes on the wealthy to move the money back to the common folk.
The Romans didn't do that and had 100 years of civil strife.
Another option is hyper-inflation to wipe away the debt. But before that happens the wealthy will be trading their fiat for other stuff that will hold value, such as farmland or oil, gas or water rich land. That may the the key to knowing when the shite will hit the fan..........
Awsome, it seems one can never "print" enough demand in the real economy. FAIL. Now about those wages.
It is hoped that this will be offset by asteroid mining operations.
and the coming Quadrillion trade volume with the martians...
and then teh martians nationalize them. or would it be solar systemalize?
Bullish :
500 Kiloton German Hydrogen Bomb Goes Missing
http://www.veteranstoday.com/2012/04/30/raw-reports-nuclear-threat-from-...
"There are several possible scenarios:
500 kilotons should be enough for israel to take out Cairo and get that natural gas flowing again and of course blame it on "terrorists".
Ze Germans nuking Alexandria, yes that movie i have seen before. But Cairo ?
Actually, the "pumping" of 7.7T began in Dec 2008 when nobody knew it was happening. By the time the stress test came along in March 2009 (results released in May 2009), Geithner had already recapitalized the TBTF banks and other financial institutions around the world (source Bloomberg courtesy of the FOIA).
Suspending FASB 157 did the trick as well.
HOCUS POCUS bitchez...
can you say malinvestment?
So inventories are almost double shipments, oh thats good...
I'm sure accounting rules allowing inventory to be marked as an asset has nothing to do with it.
The weird thing is unfilled orders, those must be cancelled orders because with the amount of inventory availble all orders should be filled.
Something isn't right. US manufacturing must be working on the bridge to nowhere concept. Somebody is placing orders, but never wants to actually take delivery.
The Fed?
The curtain is there for reason. The reason is not "to look behind it".
OK so pumpin in of trillions doesnt work....so what now?
Just good, old fashioned pumping SD1.
Q is, is one a pumper or a pumpee.
ori
Quadrillions!
Bullish, it can only go up!
/CNBC shill
But But But .....the ISM number was so good......that kind of sticks out like a boner in Math class in Junior High
Damn, I miss those Jr. High boners.... come outta nowhere.... hard as stone. You could hang a wet beach towel on 'em!
the manufacturing company I used to work for, it closed in 2007.. half the facilities are growing weeds all around it and the other half has been converted into ..self storage units.
The US economy is a basket case.
"the manufacturing company I used to work for, it closed in 2007.. half the facilities are growing weeds all around it and the other half has been converted into ..self storage units."
Been that way in the Midwest since the passage of the Clean Air Act, and the 1975 UAW strike, in the mid-70's. Democrat policies have been outforcing America's jobs for 40+ years. Did you really think all of this free schit was going to be FREE?
"Democrat & Republican policies have been outsourcing America's jobs..."
There. Fixed it for ya.
By your omission of Republicans you show your true colors as an establishment man. Sorry but no part of the current system is going to correct the problems that are causing this regrettable slide. You need to abandon the illusions provided to you first before you can see the path to freedom.
This was certainly predictable. Maybe if the idiots in Washington had not pulled forward demand last year by allowing businesses a one time 100% expense of capital purchases (aka another cash for clunkers move) this would not have happened. No mention of this in the stupid main stream media.
Regardless of whatever demand there was for manufacturered goods being sucked forward into 2011, the money supply is contracting and demand is clearly declining. Time for QE4 or Obumbo is in trouble.
And then even WITH 'QE4' or whatever, how is $5 gas going to go over for the Emperors election?
I mean, there IS a real world out there still, no matter what the bobble-heads tell us to the contrary. This idea that if stocks are higher, then everyone loves Obummer is really pretty silly, and QE means 'hand free money to the rich'...at least sheeple know that, they know when theyre getting screwed.
But, but, but, but, the ISM report was outstanding....
They lied!...again!
DOW expected to be up 1,056,578,946 pts today
Does it even fucking matter anymore?
A bit better than expected!
+1 NO, it clearly doesn't fucking matter anymore, between the bots and the PPT they just keep putting newly created fiat into the Ponzi. What does it matter to them they get the fiat for practically nothing and then they can lever it!
My Lord. ADP + Factory Order disaster. The amount of money the Fed must be burning through to keep the Dow at only -50 must be obscene.
Buck Frenankie!
No even a mention about factory orders on Marketwatch,
Of course not...
It doesn't fit the Democrat/Mainstream Media-approved CURRENT TRUTH, which can be very different from yesterday's Current Truth.
There are factories operating in America?