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BIG MISS: April Factory Orders Fall 0.6%, Ex-Cars Fall 1.1%
Business Insider ^ | 6/4/2012 | Joe Weisenthal

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 ...


TOPICS: Breaking News; Business/Economy; Government; News/Current Events
KEYWORDS: business; economy; factoryorders; miss; obamadepression; obamanomics; recovery; report; unexpected
Unexpected wins again. /sigh
1 posted on 06/04/2012 7:10:10 AM PDT by mykroar
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To: mykroar
Last month was revised to a decline of 2.1% from a decline of -1.5%.

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.

2 posted on 06/04/2012 7:20:04 AM PDT by ChildOfThe60s (If you can remember the 60s....you weren't really there)
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To: mykroar

Econo-misseds............


3 posted on 06/04/2012 7:20:04 AM PDT by Red Badger (Think logically. Act normally.................)
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To: mykroar

The DNC has to be sweating bullets.


4 posted on 06/04/2012 7:23:48 AM PDT by Erik Latranyi (When religions have to beg the gov't for a waiver, we are already under socialism.)
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To: mykroar

Still Bush’s fault.


5 posted on 06/04/2012 7:24:17 AM PDT by Bubba_Leroy (The Obamanation Continues)
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To: Erik Latranyi
The DNC has to be sweating bullets.

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.

6 posted on 06/04/2012 7:27:19 AM PDT by nascarnation
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To: ChildOfThe60s

—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.


7 posted on 06/04/2012 7:29:45 AM PDT by cuban leaf (Were doomed! Details at eleven.)
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To: ChildOfThe60s
We have moved out of the realm of legitimate error into the area of out and out propaganda.

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.

8 posted on 06/04/2012 7:30:39 AM PDT by steve86 (Acerbic by nature not nurture TM)
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To: Erik Latranyi
The DNC has to be sweating bullets.

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.

9 posted on 06/04/2012 7:35:00 AM PDT by Bubba_Leroy (The Obamanation Continues)
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To: Bubba_Leroy

...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.


10 posted on 06/04/2012 7:42:51 AM PDT by Unrepentant VN Vet ((228 and a wakeup) Truth, I know, always resides wherever brave men still have ammunition.)
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To: steve86; cuban leaf
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.

Agreed!

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.

11 posted on 06/04/2012 7:46:07 AM PDT by ChildOfThe60s (If you can remember the 60s....you weren't really there)
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To: nascarnation
-- 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. --

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?

12 posted on 06/04/2012 7:46:39 AM PDT by Cboldt
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To: steve86
-- Elaine Chao perfected the art of manipulational presentation while on CNBC the first Friday of each month. --

Ahh yes, Mrs. Mitch McConnell.

Agreed that the federal government is a bunch of schemers and manipulators; both political parties.

13 posted on 06/04/2012 7:49:45 AM PDT by Cboldt
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To: Unrepentant VN Vet
Have you had a look at your area’s Big Time Media circulation/ratings lately?

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.

14 posted on 06/04/2012 8:03:35 AM PDT by Bubba_Leroy (The Obamanation Continues)
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To: mykroar; All

“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.


15 posted on 06/04/2012 8:23:45 AM PDT by tcrlaf (Election 2012: THE RAPTURE OF THE DEMOCRATS)
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To: mykroar
blonde-ferrari Pictures, Images and Photos

Those ex's have had it good for too long.

16 posted on 06/04/2012 8:37:19 AM PDT by Snickering Hound
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To: Snickering Hound

I tried to buy that car!


17 posted on 06/04/2012 8:45:08 AM PDT by bill1952 (Choice is an illusion created between those with power - and those without)
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To: Snickering Hound

Well it’s about time someone posted her picture. I assume that’s MISS April, right?


18 posted on 06/04/2012 9:41:28 AM PDT by Ken H (Austerity is the irresistible force. Entitlements are the immovable object.)
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To: Bubba_Leroy

Pretty much nailed it.


19 posted on 06/04/2012 10:34:30 AM PDT by Obadiah (2008: Hope & Change -- 2012: Fear & Destruction)
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To: cuban leaf; ChildOfThe60s
...Personally, I think we did that years ago. Google Hedonics. It’s fascinating.

ROFL

Good ol' hedonics or quality adjustments to the CPI decreasing the actual cost of an item. In other words you did't actually pay what you paid.

In government speak: "...hedonic price indexes are simply statistical tools for developing standardized per unit prices for goods, such as computers, whose quality and characteristics are changing rapidly."

Now look up owners rent equivalence, chained dollars, intervention analysis, etc.

Conveniently core inflation devoid of the cost of food and energy is used to evaluate the effectiveness of the fed.
20 posted on 06/04/2012 10:43:46 AM PDT by khelus
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To: Erik Latranyi
The DNC has to be sweating bullets.

Nah, not when millionaire lefties are out there claiming business is evil (the irony is sick!)

They ignore the economy at their own peril.

21 posted on 06/04/2012 11:10:57 AM PDT by hattend (Firearms and ammunition...the only growing industries under the Obama regime.)
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To: khelus

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.


22 posted on 06/04/2012 11:12:25 AM PDT by cuban leaf (Were doomed! Details at eleven.)
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To: mykroar

"UNEXPECTED!
23 posted on 06/04/2012 11:16:38 AM PDT by BenLurkin (This is not a statement of fact. It is either opinion or satire; or both)
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To: cuban leaf; All
Thanks for posting. This is a great 'reader's digest' version of what has been done to stats for years!

It's sad that many do not realize it or worse deny it.

For those not familiar with shadowstats, the blue lines represent a good approximation of the CPI and GDP without 'enhancements' put in place by both R's and D's since the mid 1980's.




24 posted on 06/04/2012 11:54:21 AM PDT by khelus
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To: cuban leaf

“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.


25 posted on 06/04/2012 6:45:21 PM PDT by dynachrome ("Our forefathers didn't bury their guns. They buried those that tried to take them.")
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To: mykroar

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.


26 posted on 06/04/2012 10:08:43 PM PDT by Crucial (Tolerance at the expense of equal treatment is the path to tyranny.)
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To: bill1952

...what car..?


27 posted on 06/04/2012 10:26:01 PM PDT by spokeshave (If Obama is Lenin....and Van Jones is Trotsky.....where are Stalin....Mao....Pol Pot?)
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