Skip to comments.Chart Of The Day: Continued Collapse In Capital Goods New Orders Confirms US Is In Recession
Posted on 11/27/2012 6:55:44 AM PST by Perdogg
While the just released Durable Goods orders report for October came in modestly better than expected (which many thought would be a decline due to Hurricane Sandy), the primary driver of this continues to be record durable good inventory accumulation. Excluding the noise, and focusing only on real, non-noisy economic strength metrics such as New Capital Goods Orders (technically defined as the year over year change in Non-Defense Capital Goods Excluding Aircraft), a very different and far uglier picture emerges. In fact, the October Y/Y Plunge of -8.1% in this major indicator was the biggest drop since 2009.
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I don’t think the recession ever ended
Well, the re-election of The First Dictator is over. Next year will be the year of the last gasp of this economy. Save your money. You will need it.
Unfortunately, the realization that we did not change the political situation in Washington (in fact, we made it worse) will now be reflected in the future statistics.
I don’t know about anyone else, but people in my industry are scared ****less about the implications of Obamacare and cannot stop talking about it.
Annualized computer sales are down 10%.
That’s a reflection on the state of business in this country.
Don’t let the stats out of the Bureau of Lies and Stories, and all the other bureaus and agencies controlled by the current regime of communists, fool you.
What industry? Healthcare? Insurance?
” - - - I dont think the recession ever ended - - - “
Does that mean that it is still “Bush’s Fault?”
Under Obamacare there will be progressive organ taxes. If your healthy, fit then you might be Roberts taxed one of your hoarded kidneys. It would go to someone less fortunate. Say a obese AIDS low income minority who has suffered from generation of medical discrimination.
Or you could pay a keep your kidney tax. You will be free to choose, so you enjoy freedom.
nor do I
But lets move on and just begin calling “this one” the obama recession
The U.S. has been in economic decline for the last 4 years. The only question is how phony the numbers are and how long the decline will continue. Terms like recession, recovery and discouraged workers and only confuse the issue. The real situation is the middle class is being destroyed and our country is being destroyed.
reelected in 2012 he was and finally inherited a real mess he did
I’ve had this tagline since early Nov.
Your vote = Recession
Also, the Future Capital Expenditures Index is below zero for the first time since Sept. 08.
Importantly, large inventories imply durable goods deflation.
While this might imply a good time to buy durable goods if you can afford them, at the same time there is a flood right now of Sandy-damaged durable goods.
A car on sale is not such a good deal if it has been reconditioned after a flood.
Practically, it didn’t ever end.
The definition is X number of quarters of negative growth, which they’ve manipulated the numbers in order to avoid that definition,
but there’s not much difference between .2% “growth” and -.2% “growth” when our economy needs 4% growth to keep employment levels steady.