Skip to comments.BIG MISS: April Factory Orders Fall 0.6%, Ex-Cars Fall 1.1%
Posted on 06/04/2012 7:10:03 AM PDT by mykroar
ORIGINAL POST: Last economic datapoint of the day: April factory orders come out at 10:00 AM ET. Analysts expect an increase of 0.2%. That compares to a decline of 1.9% in the previous month. Given all the bad news in econ data-world these days, this one will be closely watched for confirmation or negation of the trend. UPDATE: The numbers are out and bad. Factory orders fell 0.6% in April, which is way worse than the 0.2% growth anticipated. Last month was revised to a decline of 2.1% from a decline of -1.5%. And ext-transport, the decline was a solid 1.1%. Not good. Markets are at their lows of the day.
(Excerpt) Read more at businessinsider.com ...
For the math challenged that constitutes a 40% net revision in the *bad* direction.
40%? Start calculating all of these monthly statistical revisions coming from the government. Not only are they always to the worse side of the equation, look at the percentage that they are off. We have moved out of the realm of legitimate error into the area of out and out propaganda.
The DNC has to be sweating bullets.
Still Bush’s fault.
I hope you're right. Sometimes I think their support is so heavily biased toward those who don't want to work that they don't really care about jobs. Sadly that percentage of the US population seems to be nearly enough to keep Democrats in power.
—We have moved out of the realm of legitimate error into the area of out and out propaganda.—
Personally, I think we did that years ago. Google Hedonics. It’s fascinating.
Was the same under Bush, especially employment statistics. In fact, Elaine Chao perfected the art of manipulational presentation while on CNBC the first Friday of each month.
They would be if they had to worry about the MSM accurately reporting facts, such as the fact that the economy was rolling along fine until the Democrats took control of both houses of Congress in 2006, and the fact that Obama and the Democrats had complete control over all branches of government from 2009 to 2010, or the fact that the Democrats still control the Senate and Republicans have only had control of the House since 2011.
But the DNC doesn't have to worry about any of those facts being reported, so they will be able to spin everything bad as the fault of Bush and the evil Republican controlled Congress.
...at least until the MSM loses its credibility.
Have you had a look at your area’s Big Time Media circulation/ratings lately?
DNC’s only losing elections and power, the MSM is the real Dead Man Walking. And they know it.
This economic propaganda has been a truly bipartisan effort for a long time.
More proof that curtailing the government's size and influence is the only sure way to defend ourselves.
Sort of that. DEM support comes from welfare recipients and government workers. The government rarely shrinks, and welfare recipients are looking out to keep the gravy train going. I agree, they number 51% of the voters. But, that doesn't mean they have the power to compel production. Who is John Galt?
Ahh yes, Mrs. Mitch McConnell.
Agreed that the federal government is a bunch of schemers and manipulators; both political parties.
Unfortunately, the "swing voters" (the idiots who don't know who Obama is, that the economy did not start to dive until the Democrats took control of Congress in 2006, or that the Democrats still control the Senate) still get most of their news from the MSM.
It is this 5 to 10% of the electorate (who will not make up up their minds who to vote for until a few days before the election) that decide the outcome of most national elections.
“Factory Orders Fall 0.6%, Ex-Cars Fall 1.1%”
NOW do you people understand why Government Motors Channel-Stuffing Cars nobody wants to buy, to boost the economic output numbers, has been so important to Obama and the Dems?
And why anybody who has dared to point this out has been villified as a racist by the Left Media?
What the hell, it’s not like it’s OBAMA’S MONEY, that is going to have to bail out GM, and ALLY, when this is over.
I tried to buy that car!
Well it’s about time someone posted her picture. I assume that’s MISS April, right?
Pretty much nailed it.
Nah, not when millionaire lefties are out there claiming business is evil (the irony is sick!)
They ignore the economy at their own peril.
There is a simple explanation of hedonics in the video I supplied and I offer a “readers digest version of that here:
Imagine a tv cost $300 last year, but this years model has a sharper screen. The Government says that makes it worth $100 more, even though it is still sold for $300. So the government says that the GDP went up $100 for every set sold, even though the price is the same.
So, you say, that means the CPI went up $100 too, right?
Nope. Now that you are getting a $400 set for $300, it means the price went DOWN by $100.
So, GDP is up $100 while CPI goes DOWN $100 when, in fact, no money difference occurred at all.
This means that they can show that the economy grew (good news) while the CPI was lowered. And that means Social Security, wages and other benefits which see increases triggered by CPI increases will not increase.
I have not taken the stats seriously for some time.
“that means Social Security, wages and other benefits which see increases triggered by CPI increases will not increase.”
The whole point of the exercise is to make sure CPI does not rise by much ‘officially’. Keeping interest rates at effective zero is a goal of the current regime, also.
What I don’t understand is how a recession materialized so quickly at the end of Bush’s presidency and how it ever got back into positive territory under Obama.