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Noted Economist Says You Should be Worried About Latest Durable Goods Report: Here’s Why

Sep. 29, 2012 3:22pm Becket Adams

Demand for durable goods (i.e. items that are expected to last for at least three years) is on the decline and a report released on Thursday shows that it has sunken to levels not seen since 2009 — the height of the Great Recession.

“The Commerce Department said Thursday that total durable goods orders fell 13.2 percent in August. That’s the biggest drop since January 2009 when the country was in recession. Aircraft orders fell by nearly 102 percent, pulling down the headline figure,” the Associated Press reports.

Economists had originally predicted a decline of maybe 5 percent. Obviously, they were off by just a little.

“U.S. manufacturing has weakened since the spring. Factories have been hurt by weaker consumer spending and slower global growth that has cut demand for U.S. exports,” the AP adds.

Okay, so what’s the big deal? Maybe we shouldn’t read too much into the data, right?

Well, according to economist David Rosenberg, there’s a part of the report that should raise some red flags. If you look at the three-month moving average* of non-defense capital goods orders (or “core capex [capital expenditures] orders”) excluding aircraft in Thursday’s durable goods report, you’ll note that it was -4.1 percent in August.

(*A statistical method for identifying the direction of a trend.)

“History shows when the trend weakened to the level we see today, the economy was in recession 100 percent of the time,” Rosenberg claims in his latest “Breakfast with Dave” note.

Furthermore, as Rosenberg notes, not only is the durable goods report obviously bad news for the manufacturing sector, but it also means bad news for the job market. You see, as the following chart illustrates, there’s an 83 percent correlation between core capex orders and jobs:

Aug. Durable Goods Report Has Economist David Rosneberg Talking About Recession

Courtesy: Business Insider

And there’s an 86 percent correlation between capex orders and the stock market:

Courtesy: Business Insider

Bottom line: Durable goods are down and manufacturing is down. According to the data presented in the above, not only does the report bode poorly for the already struggling job market, but it could also mean we’re headed for another recession.

Follow Becket Adams (@BecketAdams) on Twitter

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Front page photo source courtesy the AP. This story has been updated.

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Comments (136)

RANGER1965
Posted on September 29, 2012 at 4:52pm
Agreed EBLAZE44.

THEBURNINGTRUTH is stuck in a place where leaders must be accountable or face the wrath of the body public.

Those days have faded into the morass we have today. Obama needs do nothing. Except for talk radio, Blaze TV, and Fox News…which are easily dismissed as extreme right-wing clamoring, the media will continue to ignore the negatives. As long as that remains true then he can and will do anything he wishes. He will likely start the new year off with some severe executive orders which will increase the power of the executive branch significantly.

Conservatives will howl and the Republican dominated house will condemn it etc. it will likely go through the courts which should; with delays and appeals take about 4 years or so.

In other words he wil continue to get his way.

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- Brother Winston Smith
  Posted on September 29, 2012 at 5:53pm
  Yes. The “conservative” (FAKE-conservative) half of the leftist MSM (FOX, Clearchannel, Blaze, Townhall, Hotair, etc) are calling attention to growing fires… THAT THEY HELPED CREATE. This deceptive technique is designed to position leftist republican media as political prophets… ahead of the curve… and, more importantly, allows them to blame their PARTNERS… the democrats. It’s a fairly transparent scam that’s been running for decades. Actually children do it all the time.
  
  Report this comment
- Prosecute_Constitutional_Treason_In_Washington
  Posted on September 29, 2012 at 7:38pm
  CNSNEWS.COM
  
  Secession! Lakota Sioux Nation Leaves The Union!
  
  Report this comment
- turkey13
  Posted on September 29, 2012 at 7:42pm
  The guy is right but look at China making all those Apple I-phones ans I-pads. All the heads in government have a full pantry and a big stockpile of gold and silver. Even George Soreass bought a billion dollars worth last year. They have been told what they need to have to barter with, this includes guns and ammo.
  
  Report this comment
- darkknight91
  Posted on September 29, 2012 at 11:02pm
  At least we’ll know who has all the food and money when we get hungry and poor. One stop shopping with my band of brothers.
  
  Report this comment
- KC1
  Posted on September 29, 2012 at 11:06pm
  Dont worry fellas!
  Romney has always stated he will audit and then abolish the Fed.
  He also proposed to cut a trillion in his first year in office and balance the budget.
  Hes also opposed the bail outs and has never expressed support for crony capitalism.
  Unless Im confusing him with someone else, but I dont think so…
  
  Report this comment
- Brother Winston Smith
  Posted on September 29, 2012 at 11:29pm
  We HAD this… we HAD IT!!!!!!!!! And we rejected it…
  
  Ron Paul:
  Veto any unbalanced budget!
  Refuse to further raise the debt ceiling!
  Fight to fully audit (and then end) the Federal Reserve System!
  Legalize sound money!
  Offshore drilling!
  Eliminate the income, capital gains, and death taxes!
  Oppose all unfunded mandates and unnecessary regulations!
  Cuts $1 trillion YEAR ONE!
  Eliminate five cabinet departments (Energy, HUD, Commerce, Interior, and Education)!
  Abolish the TSA!
  Abolish corporate subsidies!
  Stop foreign aid!
  End foreign wars!
  Returning most other spending to 2006 levels!
  
  Report this comment
- NeoFan
  Posted on September 30, 2012 at 12:45am
  Ron Paul is the only one that can save us. If he dies we are doomed. Nobody is smarter than Ron Paul.
  He is also a great hypnotist. He has a very powerful effect over morons and idiots. Once you are under his spell you believe he is the only one that can save us.
- KC1
  Posted on September 30, 2012 at 1:53am
  Yeah neofan is right, Paul folk are so stupid! Who would want to return to the out dated limited govt the constitution outlines! Only fools!
  We need Romney to become pres so we can invade Iran, Syria and Libya to go get those scary evil mooslums!
  Where would we be if the Govt didnt have the power to ignore individual liberties and probe us at the airport, in a whole bunch of danger Im sure!
  I dont know about you but I think NDAA is great, who doesnt trust the Govt with that sort of power? Beck says Romney is trust worthy and I believe him! No questions asked! If Romney and Beck are ok with bail outs, deficits and the TSA well by golly they are good enough for me!
  Dont worry, our wise overlords are in control and we can all rest easy.
  
  Report this comment
- shogun459
  Posted on September 30, 2012 at 11:46am
  Wait until he starts having Congressmen arrested.
  
  Report this comment
- Obama Been Lauding
  Posted on October 1, 2012 at 5:28am
  Remember everyone, what most, if not all, economists and analysts have said, where all of this financial meltdown occurred, ‘with the housing market’.
  Bill Clinton signed a law that required banks to draw up mortgages, for anyone, no matter what their income. Sounds nice, but that was about 7 years prior to the ‘meltdown’, because these people could not afford to pay the mortgage, after about 5 years of having it. Bwawney Fwank said there was not a problem, when confronted several times by the Bush Administration. Fannie Mae and Freddie Mac were holding these mortgages, and when the human excrement hit the oscillating rotator, it began a domino effect.
  Soooo, if someone is to blame for the “Financial Meltdown”, it should lay in the lap of Billy (Cigar dip) Clinton!!!!
  Oh, and if you think Hussein is worried about the economy, you are wrong!!!! His plan is to make it bad enough, so everyone gets on the government dole!!!! Overload the system, a Saul Alinsky idea, and then have a ‘carrot’ waving, for the idiots, that believe in him!!!!!
  
  Report this comment
Brem
Posted on September 29, 2012 at 4:47pm
President Fidel Kardashian will complete the destruction of the USA, given 4 more years to load up the debt on the middle class as most of the investment capital leaves the country.

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- db321
  Posted on September 29, 2012 at 5:01pm
  Yea but we got an Obama phone, free birth Control, food stamps, and a VIP Pass into the lake of fire.
  
  Report this comment
- bobdog19006
  Posted on September 29, 2012 at 5:13pm
  Lone Waddie: “I didn’t surrender neither. But they took my horse and made him surrender. Probably pulling a plow somewheres in Ohio, I betcha.”
  
  Report this comment
- ugottabekidding
  Posted on September 30, 2012 at 2:58am
  Ah, Lone Waddie… one of my favorite Native Americans. Right up there with Little Big Man.
  
  Report this comment
ColdDeadHands
Posted on September 29, 2012 at 4:47pm
@BHELMET: That’s weird, I feel the exact same way. I fully expect our place of businesss to close as well if O wins, and, oddly enough, I don’t feel especially worried about it. Kinda like the change will be welcome and, eventually beneficial. Our suppliers are much slower in filling our requests.

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cgull
Posted on September 29, 2012 at 4:44pm
RECESSION? RECESSION?
Are these people blind? I called out the recession back in 2005 when I saw gas hit $2.65 a gal. I saw construction slowing down, the stock market falling, the banks failing, the auto industry going under,,,,,
Need I say more? Sound familiar? It’s the 80′s all over again, only this time worse. The goverment bailed out the banks, and the auto industry, etc., and said “be thankful because we won’t do it again”.
But they did it again. It didn’t work then, it’s not working now.
If They want to stimulate the economy, take all that bail out money and give it back to the people who realy need it. They would spend it on the durable goods, the states would get some revenue from the sales taxes and everything would get moving again.
If you haven’t already, grab hold of someting solid and hang on. The 80′s took about 12 yrs. to get through. I figure we have another 5 or 6 with this round.

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- MrKnowItAll
  Posted on September 30, 2012 at 4:51pm
  I saw the Depression we are in, on the starting date of 9/12/2001
  
  Report this comment
Frogster
Posted on September 29, 2012 at 4:41pm
Durable goods??? When’s the last time you bought anything that lasted 3 years?! Even refrigerators only have a two-year warranty nowadays… Maybe people are SICK & TIRED of wasting hard-earned dollars on CR*P MADE IN CHINA and are realizing their OLD STUFF is better than anything they can buy NEW; many are buying USED GOODS because it’s better-made and will LAST LONGER & PERFORM BETTER or they’re learning to get along with something they’ve had for decades.

Also, the UNIONS & Manufacturers keep resorting to Dirty Tricks & Schemes to force us into buying more CR*P if we do invest in a big-ticket item, like a new bed-set or mattress: NOW they come in non-flippable, one-side only mattress (the other side is a wooden frame, which cuts the life of the mattress in about one-half), and they make the mattress DEEPER (taller) so you have to buy all new sheets to fit them! WHO *approves* such transparent, greedy schemes? The CONSUMERS, if they’re dumb enough to fall for this stuff and buy this cr*p. Hopefully, consumers are CATCHING ON, which may explain the decline in purchase of big-ticket items (not to mention dollars are harder to come by these days).

Also: Article states “Aircraft orders fell by nearly 102 percent,” Maybe DHS/TSA has had something to do with the fact that fewer people are FLYING, thus fewer aircraft are needed…?

Americans are learning to DO MORE WITH LESS; and it’s time we TEACH our GOVERNMENT to do the same.

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- Gary_K
  Posted on September 29, 2012 at 4:49pm
  Good post !
  
  I dont think we can teach this government, not dems or repubs, they all have to be replaced with common hard working people.
  
  Report this comment
- James 73
  Posted on September 29, 2012 at 6:08pm
  You hit the nail right on the head! I for one will NOT be buying any more items untill Odumbo is out of office. I am keeping my money to but needed things such as gas groceries rent etc.
  
  My parents bought a Whirlpool refrigerator from Kmart back in Oct of 1980 which works great…….
  32 years later. I have told her to repair it & NOT to scrap it ever just repair it. Same thing goes with vacuums, Mom has 2 Hoover ones that are on average of 30 to 35 years old still work fantastic! Will never get rid of them compared to the crap they make today. All these so-called “goods” they make today are made in China & last only two or three years then cost more to fix it than to buy a new one!
  What a racket! Remember people, buy American, buy used or do without.
  
  Report this comment
- darkknight91
  Posted on September 29, 2012 at 11:07pm
  My dad just restored an old fridge from the 50′s and keeps it in the garage. It’s a tank. The freezer frosts up but it’s not that big of a deal. I hate buying Chinese but you can’t hardly find anything these days that’s not.
  
  Report this comment
- Frost_Pendragon
  Posted on September 30, 2012 at 3:43am
  Fuel costs, taxes, unions, and bureaucracy have joined with lowering demand to confound the airline industry. The normal business traffic has been largely negated by the internet compared to previous years.
  
  Report this comment
- listeninginVT
  Posted on September 30, 2012 at 12:38pm
  have you also noticed, with all the ‘energy saving’ appliances we have in our homes, our energy costs, monthly, are higher than they were before we bought the ‘better, energy efficient ________’, refrig, dishwasher, wash/dryer, lights etc….. I can’t get my electric bill under $80, and that is a ‘good month’. My Grandmother was right, she kept her appliances until they could no longer be Fixed, as well as everything else for that matter. She had money in the bank, no debt or stress about her finances. Smart lady, I miss her.
  
  Report this comment
- taxpro4u03
  Posted on October 1, 2012 at 8:47am
  Americans born AFTER 1932 have, by and large, become ‘soft – ‘ The ’5,000 year leap’ REALLY took off following Tesla’s electrical GENIUS which allowed for rapid industrialization/production in the U.S. — Conditioned air, refrigerated food [BEER! :-] — gadgets that use the electric motor (what the hail is a ‘corn-broom’ and bed warmer anywayz?) — right on up thru ‘radio and teevee’ – microwaves, strip malls, big box stores, fast-food… High rise apt buildings — yes — ‘life’ is good with the ‘modern conveniences…’ What’s missing? “Life on the farm’s kinda laid back! Ain’t much an old country boy like me can’t hack…” Everybody’s in a RUSH to make a ‘dollar’ to ‘go into DEBT’ to get the latest and greatest iphone/app/gadget… to make ‘more money…’ What’s missing is the HUMAN ELEMENT of the ‘pursuit of happiness’ sold as…. ‘crony capitalism.’ The happiest folks I know live in ‘fly-over’ zones – on a few acres in the middle of know where; raise their OWN food, know how to ‘skin a buck and run a trot-line..’ and have the best CHARACTER toward their neighbors without fighting road rage to get a parking spot closest to the door at WallyWorld SuperCenter to buy genetically/chemically modified ‘food.’ Life without electricity is gonna SUCK for most people that weren’t TAUGHT basic life-skills the people who BUILT this country were used to… :-) In a world of the blind, the one-eyed man will be ‘king.’ What’s YOUR ‘niche?’
  
  Report this comment
CynthiaCOG
Posted on September 29, 2012 at 4:39pm
DO YOU REMEMBER JANUARY 3, 2007?

I’ve been saying this for years, but this email probably explains it

better and more clearly.

Remember that on October 9, 2007, 11 months before our “economic

crisis” occurred (that was actually created), the Dow hit its highest

point ever, closing at 14,164.53 and reaching 14,198.10 intra-day level 2 days later. Unemployment was steady at 4.7%. But things were

already being put in place to create the havoc we’ve all been experiencing since then. And it all started, as this email explains,

on January 3, 2007. –LFL

I’m sending this to each of you regardless of your party preferences

because I believe it is something you may not have considered.

This tells the story, why Bush was so “bad” at the end of his term.

Don’t just skim over this, it’s not very long, read it slowly and let

it sink in. If in doubt, check it out!!!

The day the Democrats took over was not January 22nd 2009, it was

actually January 3rd 2007, which was the day the Democrats took over

the House of Representatives and the Senate, at the very start of the

110th Congress.

The Democrat Party controlled a majority in both chambers for the

first time since the end of the 103rd Congress in 1995.

For those who are listening to the liberals propagating the fallacy

that everything is “Bush’s Fault”, think about this: January 3rd, 2007

was the day the Democrats took over the Senate and the Co

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- tipofthespear42
  Posted on September 29, 2012 at 7:19pm
  CORRECT!!!! You are a very WISE and INFORMED wonderful human being!!! Now that is REFRESHING and I thank you for reminding us of this!! LET’S ROLL!!!
  
  Report this comment
coloradopatriot0920
Posted on September 29, 2012 at 4:36pm
Each and every one of us has to do our part and spread the word and vote out the enemy that is trying to bring America to her knees. However, we all must be on our knees in serious prayer to our God to forgive us for turning our backs on our only true friend Israel then we would get what we deserve. Now is the time and America is the place to stand!!!!!

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Chromo200
Posted on September 29, 2012 at 4:34pm
What puzzles me that the intelligent ones that are supporting Obama don’t see these indicators. They don’t see the trend towards income redistribution and the economic failure that is coming..

If Obama wins, kiss this country good by. There will hunger and riots all over the USA and many other countries.

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- Frogster
  Posted on September 29, 2012 at 4:49pm
  You said “the intelligent ones that are supporting Obama don’t see these indicators.”
  
  Yes, THAT is what is worrisome. Have recently tried to talk to 3 or 4 acquaintances who will likely vote for the Big 0 (with little luck awakening them, sorry to report). It seems they are HAPPY with the “GOODIES” they are getting from UNCLE SAM(bo) and cannot see beyond them. What “goodies”? Subsidized housing, pro-GAY agenda, and “feeling good about more favorable race relations” (white guilt)… i.e., They are TAKERS and living in a FANTASY WORLD. They do not see the BIG PICTURE, because their own SELFish SELF-INTEREST blocks their view.
  
  Report this comment
- just the facts
  Posted on September 29, 2012 at 5:35pm
  @ Froggster
  
  Exactly. They are selfish. BUT the only thing they will remember is that once the big picture materializes, they, THEY, will the ones that will come to the realization that they were lied too, deceived, and wronged. Granted by that time we as a country will be in the middle of civil unrest, police actions, and chaos, but sometimes that type uglyness and discoarse is the spark that brings us back to who we were. Leaders will emerge and slowly the evil that brought us to this (that) point will be purged. History is on our side.
  
  Report this comment
- urnokid
  Posted on September 30, 2012 at 9:55am
  there aren’t any intelligent ones supporting Obama.
  
  Report this comment
- SistaTriscuit
  Posted on September 30, 2012 at 4:11pm
  There are no “intelligent ones” supporting Obama…. if they were intelligent, they wouldn’t be supporting him, especially now.
  
  Report this comment
Maxim Crux
Posted on September 29, 2012 at 4:32pm
We don’t need an economist to tell us to be worried.

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Gary_K
Posted on September 29, 2012 at 4:31pm
This is a good read about people in high office thyat are bat shi& nuts.

http://www.barnhardt.biz/

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- Gary_K
  Posted on September 29, 2012 at 4:41pm
  Scroll down the above page and watch an Alan Keys video….I really like Keys !
  
  Report this comment
Big Media Bias
Posted on September 29, 2012 at 4:25pm
I own a 2000 Ford F150. Been waiting for the last 5 years to buy a new truck. No way can I afford the new 4×4 trucks and pay for gas/diesel. Way overpriced. I am self employed, supplying equipment to manufacturing plants all over the US and abroad. Business is 1/3 of what it use to be since 2004. All the indicators I’ve been seeing show a big rise in prices from inflation and an economic collapse. The money I was going to spend on monthly truck payments is going toward filling three freezers full of meats and a lot of canned food. Rotating all of it. Spending most of my income on highly valued resellable goods while keeping it OUT of banks. Unloaded the 401K stock market scam a decade ago. Good luck to everyone. Buy guns and lots of ammo and backup heating and cooking fuels.

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- n-timeprophet
  Posted on September 29, 2012 at 7:45pm
  I hear ya! I have a 1994 Ford Aero star ( on its last leg) and a 1998 Dodge Caravan given to me free by an Army couple being re-located to Texas. If I don’t have a ‘working’ car I cannot go to the store and buy food. I’m 67 and hubby is 77. No buses come out to where I live in a rural area. I worked all my life at a job and the government took my money that I earned ( a portion) and put it in a ‘locked box’ ( yeah right !) then stole it and now it’s called ‘entitlement’. Welfare is entitlement…. I earned my social ( hate that word) security ( what security?)
  
  Report this comment
TheSitRep
Posted on September 29, 2012 at 4:22pm
We are actually in a depression many times worse than the 30s but we are just living off off credit cards to pay non-wealth producing employees, Gub’ment employees, and welfare recipients. Never in history have so many been feed with so little real wealth creating labor.
When this charade is over famine, war,pestilence and disease will be the order of the day.

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cemerius
Posted on September 29, 2012 at 4:21pm
Hey now!! There is nothing to see here! I mean after ALL the stock market is STILL at record numbers?!?! ha ha ha ha THAT is what a couple liberal friends of mine say….. Stock market is UP because the Fed prints more money so that the fake money people can move it around and “flash” it……..zombies will rise in November 2012 when their “messiah” is dethroned and they realize that ALL the conservatives weren’t “racists” but speakers of TRUTH!!! grasshoppers play in the sun while the any prepares!!

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- cemerius
  Posted on September 29, 2012 at 4:59pm
  any = ant LOL
  
  Report this comment
- HoratiusAtTheBridge
  Posted on September 29, 2012 at 9:50pm
  Amen, Brother! Ants & Grasshoppers is about to go live. THEY WILL DEVOUR YOU. Your paper money is worthless. Soon they will admit it & we’ll go through a period of living hell as they try to put in place their new currency and of course new “rights”. America will go on as either several state-alliances (maybe TX will stand alone) & virtually lawless crapholes (California of course) – or, it may be written that AMERIKA the People’s State rises, joining the world as the stage is set for the appearance of the antichrist. UH-OH, mentioned the bible – there goes my credibility, honkey racist that I must now surely be. Whatever – but spend your money now. Sell your CRAP & buy gardening tools, seeds, guns, ammunition & things like small packages of coffee (worth more than GOLD). Mostly, PLAN to GTFO (!) of a city if you’re in or close to one. Run before martial law is declared or you will be trapped and probably die. You have been warned.
  
  Report this comment
- cemerius
  Posted on September 30, 2012 at 9:30pm
  @HoratiusAtTheBridge
  
  I agree 100% with you!
  
  Report this comment
bhelmet
Posted on September 29, 2012 at 4:14pm
I work in manufacturing. If Obama is re-elected I fully expect my job to be eliminated. Weirdly, I am not afraid or worried. Something (more like someone) has me thinking this may be in my best interest

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RaydocX
Posted on September 29, 2012 at 4:13pm
But no one outside those of us who already see the truth and the trolls bent on making us roll our eyes and froth at the mouth will see this… Uncle Sam will let BHO spin his lies and twistv1/2 truths and then act surprised when his 2nd term is even worse disaster.

Personally, I think America can survive that and have logic and rational thought prevail again… Romney winning just prolongs proving to the sheeple once and for all that dems and government in general need to be minimize, the former ignored completely.

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snapper451
Posted on September 29, 2012 at 4:10pm
Ladies and gentlemen, we are seeing true evil in our lifetime, and this President is it. We must make sure he is defeated and shamed in November.

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Gary_K
Posted on September 29, 2012 at 4:03pm
Barry’s policies in action.

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65Mustang
Posted on September 29, 2012 at 4:02pm
Bringing the United States down to its’ knees was what the POS, Obama had planned to do all along…hopefully the idiots can keep their “Obama phones.”

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- 1TrueOne55
  Posted on September 29, 2012 at 4:15pm
  Obummer is just the Tool for a greater power. If you find a video on CNN on George Soros in 1998 he claimed that the US economy stands in his way of a Global New World Order since Capitalism equals Freedom for mankind. He told the CNN host that a managed decline of the Dollar was his aim (implied in his response) since he is a Hedge Fund Manager he can make Billions at the same time the US economy crashes. He has people in place in the banking sector that will make this happen. 2008 was the start of the end for the US economy. A second term for Obama may just clinch the finish of Freedom in the World. Even if Romney is elected he might not be able to stop it or he might also be part of it??? Only God will be able to save our Freedom now if it is his will to do so.
  
  Report this comment
Eblaze44
Posted on September 29, 2012 at 3:50pm
I would very highly recommend UrbanSurvival.com and check out Thursday, Sept. 27ths thread (you have to scroll down through Fridays) Much of George Ure’s posts are entertaining but his insight into our economy and “politics” are spot on.

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Gary Fishaholic
Posted on September 29, 2012 at 3:43pm
This of course will start the domino effect that will eventually affect us all.

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- Eblaze44
  Posted on September 29, 2012 at 3:50pm
  what is “eventually” – it’s affecting us every day NOW
  
  Report this comment
eaglesview
Posted on September 29, 2012 at 3:42pm
Bam just needs a little more time to have his plan of economically crushing, and fundamentally transforming America to be a success.
Either he’s out, or we are toast !.

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- Gary Fishaholic
  Posted on September 29, 2012 at 3:45pm
  Well said.
  
  Report this comment
- Snowleopard {gallery of cat folks}
  Posted on September 29, 2012 at 3:54pm
  Amen. We have to get the madman out of office; and do not be surprised in the least if after a loss, Obama decides to collapse the national economy if he can.
  
  Report this comment
- Gary_K
  Posted on September 29, 2012 at 4:05pm
  I think we are toast even if barry loses, just too much damage has been done.
  
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BlackCrow
Posted on September 29, 2012 at 3:41pm
The engine of the worlds economy, they United States has seized up simply because of the mismanagement of the Government by both Communists and RINOs. Now with financial Armageddon facing business come January 1 regardless of the outcome of the election nobody is going to commit to spending a dime more that they absolutely need to. Anyone who thinks Dingy Harry Reid is going to allow ANYTHING to be done is delusional.

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- Eblaze44
  Posted on September 29, 2012 at 4:08pm
  It has seized up not because of the American Government so much as the America citizens who have little or no common sense. the battle cry 20 years ago was buy American, we’d rather buy Chinese, Mexican, Pakistan, Bangladesh or elsewhere. We blame the crash of the housing market on banks making loans to people who could not then and never would be able to pay them – that was a government forced program – even though they admitted at the time that there would be many many more foreclosures – but it was the public that bought it – the government just provided for it. and when a house became an investment rather than a home – that guaranteed it’s failure. What drives up the cost of labor in the US so that little or no profit can be made? why cannot the U.S. labor market compete with the global market? Why do you invest in Wall Street stocks when you KNOW that to make a dividend pay they have to find cheaper labor, cheaper energy, less government regulation and taxation and just general interference in business – and where there are people that want to work and aren’t being paid by the government NOT to work?
  
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Rayblue
Posted on September 29, 2012 at 3:41pm
I don’t know where they get these numbers from.
I’ve been buying stuff like a New Yorker on half-priced ceramic fake birth certificate day.

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LakewoodEd
Posted on September 29, 2012 at 3:38pm
[bold]“…Aircraft orders fell by nearly 102 percent, pulling down the headline figure,” the Associated Press reports.[/bold]

Math may not be my strength but how does that work out?

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- EWeatherwax
  Posted on September 29, 2012 at 3:56pm
  Somebody returned a few?
  
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- urnokid
  Posted on September 30, 2012 at 10:23am
  that’s the same math that Obama uses to say he created six million jobs.
  
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Rothbardian_in_the_Cleve
Posted on September 29, 2012 at 3:33pm
Told ya.

Inventory data, MSI, shadow credit, current account, etc. have all been pointing this way for three or more months. Chinese, Japan, Europe indicators all going same way. This will be reported as recession in jan/feb.

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- TheBurningTruth
  Posted on September 29, 2012 at 3:51pm
  Agree. But if President Marxist DOES win, how does he spin it as Bush’s fault? Maybe it’s the Republicans fault because they dared to actually run a candidate during tough economic times? Perhaps all those small business owners haven’t done enough with the business that someone else GAVE them? Or will it be High Efficiency Toilets instead of ATMs and any Nativity scenes on display?
  
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- Eblaze44
  Posted on September 29, 2012 at 4:12pm
  @TheBurningTruth Posted on September 29, 2012 at 3:51pm
  Agree. But if President Marxist DOES win, how does he spin it as Bush’s fault?
  
  It won’t matter who he blames or how he tries to spin – but he won’t do either – there will be no need to. Blame and spin are needed now to get him re-elected. Americans WILL wake up when their taxes, grocery and their energy bills go skyrocketing out of their reach. Obama thinks this United States will continue with him in command – it won’t. The Constitution is ALL that holds this Republic together – it is NOT the government. and it will fall apart. He should take a real good look at the Russian revolution – not just the Czar was killed – his whole family.
  
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