| US Factory Orders Post Surprise Fall in April | |
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| Tweet Topic Started: Jun 4 2012, 01:10 PM (221 Views) | |
| LTC8K6 | Jun 4 2012, 01:10 PM Post #1 |
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Assistant to The Devil Himself
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http://www.cnbc.com/id/47674033 |
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| Joan Foster | Jun 4 2012, 01:23 PM Post #2 |
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So like...what's the "surprise?"
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| Baldo | Jun 4 2012, 01:29 PM Post #3 |
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Factory Orders declining in spring is not a good indicator. Very bad news for the Summer of Recovery Part III. One would think a sane electorate having seen $5.25 Trillion added to the deficit in 3 1/2 years would be saying, "Where's the Beef?" I believe they will. Americans know one thing, their pocketbook. |
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| Baldo | Jun 4 2012, 02:21 PM Post #4 |
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| LTC8K6 | Jun 4 2012, 02:32 PM Post #5 |
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Assistant to The Devil Himself
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| Baldo | Jun 4 2012, 02:36 PM Post #6 |
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They called it months ago. They were right! Schnapp's Macro Musings 6/4/2012: US Economy Weak and Getting Occasionally we can say, we told you so. So here it is: we told you so.î For months now we have been warning that U.S. economic growth was weak and getting weaker. Meanwhile Wall Street cheerleaders have been trumpeting that the U.S. economy was accelerating and that it was on the verge of reaching escape velocity and entering a sustainable economic growth phase. I did videos in March, April and May where I pointed out that trillions in monetary stimulus are merely papering over the problems of high unemployment, lackluster job growth, wage and salary growth barely above inflation, a consumer more intent on saving rather than spending, and a housing market mired in a depression. Until the economy is purged of the malinvestments accumulated during a 30-year debt binge, money printing will simply make the patient feel a little better, by a little time, but won’t cure the underlying illness. Add to this mess a sovereign debt crisis in Europe that is spinning out of control and we shouldn’t be surprised that the stock market is heading south and is back to where it started at the beginning of the year. Today’s dismal employment tally from the Bureau of Labor Statistics should put to bed any more wrong-headed notions that the economy is in good shape. The BLS reported today the U.S. economy added only a positively dismal 69,000 jobs in May and revised their April total down 33% from their preliminary estimate of 115,000 to 77,000. To add insult to injury, the May unemployment rate edged higher to 8.2% meaning almost 13 million people are unemployed. Worse still, the broader measure of unemployment which captures the unemployed plus the marginally employed gained 0.3% to 14.5% meaning that nearly 23 million people are working or barely working. It is no surprise to us that the Wall Street cheerleaders have been proven wrong again. The only reason U.S. economic growth has accelerated the past three springs, spring 2010, 2011 and 2012 is due to massive Federal Reserve stimulus programs, the current incarnation of which, Operation Twist, is ending June 30. The U.S. economy is now addicted to Federal Reserve monetary stimulus so the Fed has no choice but to continue to print billions if not trillions of additional dollars to provide the next fix. How long will the Fed be able to conjure up trillions of dollars out of thin air? That’s up to the global bond vigilantes who will at some point decide the U.S. dollar isn't worth the paper that it is not printed on. Video http://www.youtube.com/watch?feature=player_embedded&v=dLaUbUgpX_A IMHO Sadly we have a long way coming back, but its starts on Nov 6, 2012 Edited by Baldo, Jun 4 2012, 02:39 PM.
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| Joan Foster | Jun 4 2012, 03:10 PM Post #7 |
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Very cute! But these headline writers are so pathethic: "surprise?" Huh? It would be a "surprise" if Obama took his chokehold off of private industry; it would be a 'surprise" if he respected the rights of religious Christians; it would be a surprise if he quit lavishing taxpayer money on his "clients"; it would be a surprise if he moved against the Black Panthers when they obstruct voting or make public death threats; it would be a surprise if he looked even semi-competent. But factory orders down under this Administration? Only those who still dream of The One standing there in front of the Faux Pillars of his Pomposity...only those true beievers are "surprised." |
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| Foxlair45 | Jun 4 2012, 03:21 PM Post #8 |
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"Surprise" is right up there with "unexpected." |
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| kbp | Jun 4 2012, 03:58 PM Post #9 |
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To me it is that someone could bump the budget $400 billion and toss in $800 billion in play money and STILL create an economy that has drops in a weak factory orders segment a couple years later. |
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| Baldo | Jun 4 2012, 05:22 PM Post #10 |
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That is the discouraging part of the non-recovery recovery. Obama & the Congress has spent so much money & the Fed has pumped some much money into the economy and the results are a big thud! I read on an "insider" report that Obama is dumbfounded as to why it hasn't worked. Unfortunately no one ever talks about the back end of all this spending. When the bill comes due. |
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| LTC8K6 | Jun 4 2012, 05:34 PM Post #11 |
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Assistant to The Devil Himself
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I spent one trillion borrowed bucks and I have nothing to show for it. SURPRISE! You have to pay it back. |
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2:33 PM Jul 11