Despite all the exuberance over ISM 'soft' data, 'hard' data takes another hit today as Factory Orders for May tumbled 0.8% (worse than the 0.5% expected drop) for the biggest slide since November.
This is the second monthly decline in a row, signaling Q2 GDP may be weaker than expected.
Worse still, May saw the biggest (and first) MoM decline in US Manufacturers new Orders (ex-transportation) since Feb 2016...
The biggest culrpits for the decline are:
Defense aircraft and parts -30.8%, and
Non-defense aircraft and parts -11.6%
We're gonna need moar war.
And the divergence between the 'industrial' economy and the 'industrial' average continues to widen...
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4 comments:
The neocons are itching to get us in a war with North Korea or Russia. War is good for business. WW2 got us out of the depression. Economy is collapsing, time to kill some people and destroy some buildings and be rebuilt at their expense by the victors!!!! Lets get those factories going!
You obviously haven't studied history. Europe was in a "total war." We were lending to both sides and shipping massive amounts of goods including clothing and food to Europe. Eventually the United States stopped lending to Germany, because we were ready to enter the war on the Allies side. The end result of the war was Europe's economy was totally destroyed and we are talking infrastructure and debt. Japan was fire bombed and hit by two atomic bombs. Russia was hard hit by the German forces. We were the world supplier after WWII. THIS IS WHY WE MADE SO MUCH MONEY AFTER THE WAR. This is 11th grade high school analysis.
3:20 ...good work.
It's ALL about the money.
North Korean leadership KNOWS that they would live about 24-48 hours after they attack anyone with missiles.
They want to remain in power more than anything else. They talk a LOT of smack but can't do much other than squawk.
It's OUR leaders we much be afraid of --- war has always always always been the way to charge up the economy.
YOUR kid will go to war. The kids of defense contractors go to Harvard.
Keep cheering.
Human lives vs. money? So very sad!
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