Day 57.
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Posted on 08/26/2013 6:06:47 AM PDT by John W
(Reuters) - Orders for long-lasting U.S. manufactured goods recorded their biggest drop in nearly a year in July and a gauge of planned business spending on capital goods tumbled, casting a shadow over the economy early in the third quarter.
The Commerce Department said on Monday durable goods orders dropped 7.3 percent as demand for goods ranging from aircraft to computers and defense equipment fell. That was the biggest decline since last August and snapped three consecutive months of gains
Orders for these goods, which range from toasters to aircraft, had increased 3.9 percent in June.
Economists polled by Reuters had expected durable goods orders to fall 4.0 percent.
Non-defense capital goods orders excluding aircraft, a closely watched proxy for business spending plans, fell 3.3 percent, breaking four straight months of gains. It was the biggest fall since February.
(Excerpt) Read more at reuters.com ...
Recovery Summer 4.0. Happy Days are here again! lol
Yes. Love this Obama covering paragraph-—
“The decline in orders for both durable and capital goods suggested manufacturing will probably not bounce back as quickly as many economists had expected after hitting a speed bump early in the year.”
How many “speed bumps” have there been in the last four and a half years?
Reporting By Lucia Mutikani, Editing by Andrea Ricci
When will the ObamaBots at CNBC admit that for eaach of the last three years their phony Obama “recovery” has turned into a “summer swoon”?
Meanwhile, the US national debt marches inexorably upward toward $17 Trillion. We should “arrive” at that number sometime next month. Unfrotunately there are no speed bumps on this road.
Someone recently described the US economy as being in a “stealth depression”. Pretty good description.
Who can buy big ticket items on part time pay?
This should come as no surprise with the ACA Monstrosity staring us in the face.
I’m still trying to figure out how many dips we’ve had. At one point economists were worried about a double dip. That came and went. I think we’re up to a sextuple dip or beyond now.
We need a cheer leading alert for the admin sycophants to tell us it isn’t as bad, still, as we think.
Recovery Autumn!
Who can buy big ticket items on part time pay?
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LOL! Champagne tastes on a beer budget. :)
Seriously, you’re absolutely right. Even if you have a full time job there’s the worry that the ACA monstrosity could reduce your hours and increase your medical expenses.
Obama has destroyed the American Dream.
They planned that.
During the 2008 campaign they railed against “middle-classism”, the idea that everyone should work hard to become middle class. Yes, they rejected this. They said people should work in non-profit orgs and stuff.
Remember what Pelosi said about being on welfare so you can be an artist or whatever.
The middle class is also always one of the first things socialists and communists destroy.
Mr. & Mrs. America....you best wake up and realize that Obamacare, etc. is going to kill not only good medical care in the USA....but, worse, it will destroy millions of jobs. If you have not figured it out yet...Obama has no love for the USA....he is working to destory our economy...and, with it, our nation.
So.......Sign & Endorse the Lee/Cruz defund Obamacare petition!!! All the Obama destruction, across the board, is clearly on the writing board for you all to see!!! Sign the petition TODAY...Right Now, and join the 600,000 Americans that have done so already!!!
(”www.dontfundobamcare.com”)
The middle class is also always one of the first things socialists and communists destroy.
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True that. Make it so that both the poor and rich are beholden to the government. Eliminate that pesky, independence that the middle class represents.
Thanks!!!
yep
Impoverished peasants on the dole are much easier to control, so are a few large corporations without all the small businesses mucking things up.
I remember shortly after Dear Leader was elected, Rush was mentioning how his plans had a ZERO percent chance of pulling America out of the recession. Obamanomics simply couldn’t and wouldn’t work, no matter how hard the libs tried. It’s a simple matter of math and economics, kind of like trying to fit a square peg into a round hole. We’re now almost five years into Dear Leader’s economic recovery and, as Rush predicted, it’s just not working. And it won’t.
bump
very true
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