Well after the debale of house sales now we have orders od US manufactured Durable goods. And it too is not at all good.
The median growth expected by economists the Bloomberg has surveyed was 3% growth. That’s what economists IN the markets expected on the basis of their huge expertese and years of experience. The actual figure was 0.3%.
Now I don’t knw about you but an expert who misses by A FACTOR OF TEN isn’t going to get a return call from me. These people have not got ANYTHING right in nearly two years. And I mean nothing. Go back and look at the forecasts. They are all worse than random. A blind cretin with a pin would at least get 50:50. The experts are hitting failures almost every time. What does that tell you? Either we need look no further for why our banking sector crashed – these people are thicker than tree stumps, or they lie for a living.
Anyway, needless to say it gets worse. Doesn’t it always?
The 0.3% rise includes orders for aircraft. All those orders for Boeing and GE engines etc. If you exclude transport which means largely aircraft then orders dropped 3.8%.
If you think back a little there have already been a spate of Boeing order cancellations from Dubai and Arab Emirates. With a full blown slow down in the US looming, demand for oil will decline, the price of oil will stay as low as it is or decline firther. Which will hurt Oil producers and I expect we will see more cancellations from them as well as others world wide.
And if you exclude defence orders and aircraft then the figures show an 8% drop.
Any way you look at it these figures suggest the real economy is running on empty. Jobs, houses and indistrial orders are all AWOL. There is no recovery in the US.
I don't know whether it is more depressing that a) this (article specifically, and exposé commentary in general) isn't reported in cheerleading corporate enslaved MSM or that b) if it were, many (most?) would still rather get this knowledge.their heat and xfactor fix than do anything with
I try to not be a misanthrope at times, I really do…
Keep trying mate. I think things are going to get rather exciting soon.
Oops, that was mangled. Should have said:
many (most?) would still rather get their heat and xfactor fix than do anything with this knowledge.
Stories about cats being thrown into bins by old ladies are much more interesting.
And tea party members winning primaries. I can really see the US entering a long dusk now. And it won't be pretty. I feel very sorry for the rational inteligent US citizens and for what I suspect may be visiting their country. I hope they can just confine the turmoil to their shores.