Economic Reports 02/27/07
Summary: Phrase of the day.... off a cliff... a 5.5 year high on consumer confidence, gotta get em happy and calm before the slaughter ya know...
Durable orders falling off a cliff, 3rd month of four with a decline in core capital goods....
Existing home sales up on the "seasonally adjusted" number... but in reality, also falling off a cliff.
A Taliban suicide bomber targeting Dick Cheney and killing at least 23 people near the main U.S. military base in Afghanistan... instead of bombing, try... off a cliff instead...
The base is one of at least 9 PERMANENT bases built in Afghanistan and Iraq on $60 B in appropriations over the last two years...
the bases just happen to follow the path of an oil pipeline, recently installed by Haliburton...a pipeline that the US backed and Bin Laden led Taliban refused to let us install after rising to power...
and he who thinks that this war is about the Iraqi people, freedom, democracy or that we are leaving anytime soon is absolutely pollyannic and a misled fool... speaking of misled fools....
Consumer Confidence Feb 112.5 vs prior 110.3 - a 5.5 year high of satiated consumer gluttony and happiness...
Durable Orders Jan -7.8% vs prior +2.8% Full Report
Inside the number: new orders ex defense fell a record 7.8%, core capital goods ex defense & transportation -6%, transportation -18%.
Aircraft orders -60%, new orders ex transportation -3.1%, the 3rd drop in the past four months. Defense capital goods +10.7%.
Orders for machinery -9.3%, shipments of machinery -6%. Orders for computers and electronics other than semiconductors -7.8%.
The bulk of Hurricane Katrina rebuilding efforts are past with trickles now funneling out of the pipe.
Without the military industrial complex spending in Iraq, our non durable economy is starting to act like the dog it is... ready to roll over and play dead...
Existing Home Sales Jan +3% 6.46M vs prior 6.22M Full Report
Inside the number: trumpeted as the highest in 7 months and the largest % gain in 2 years. A peak under the covers reveals... off a cliff... the unadjusted number fell 22.6%....
Sales -4.3% YOY, inventories +2.9% to 3.55M; YOY +23.1%. Median sales price -3.1% YOY; a -4.6% in the West last month alone.
Durable orders falling off a cliff, 3rd month of four with a decline in core capital goods....
Existing home sales up on the "seasonally adjusted" number... but in reality, also falling off a cliff.
A Taliban suicide bomber targeting Dick Cheney and killing at least 23 people near the main U.S. military base in Afghanistan... instead of bombing, try... off a cliff instead...
The base is one of at least 9 PERMANENT bases built in Afghanistan and Iraq on $60 B in appropriations over the last two years...
the bases just happen to follow the path of an oil pipeline, recently installed by Haliburton...a pipeline that the US backed and Bin Laden led Taliban refused to let us install after rising to power...
and he who thinks that this war is about the Iraqi people, freedom, democracy or that we are leaving anytime soon is absolutely pollyannic and a misled fool... speaking of misled fools....
Consumer Confidence Feb 112.5 vs prior 110.3 - a 5.5 year high of satiated consumer gluttony and happiness...
Durable Orders Jan -7.8% vs prior +2.8% Full Report
Inside the number: new orders ex defense fell a record 7.8%, core capital goods ex defense & transportation -6%, transportation -18%.
Aircraft orders -60%, new orders ex transportation -3.1%, the 3rd drop in the past four months. Defense capital goods +10.7%.
Orders for machinery -9.3%, shipments of machinery -6%. Orders for computers and electronics other than semiconductors -7.8%.
The bulk of Hurricane Katrina rebuilding efforts are past with trickles now funneling out of the pipe.
Without the military industrial complex spending in Iraq, our non durable economy is starting to act like the dog it is... ready to roll over and play dead...
Existing Home Sales Jan +3% 6.46M vs prior 6.22M Full Report
Inside the number: trumpeted as the highest in 7 months and the largest % gain in 2 years. A peak under the covers reveals... off a cliff... the unadjusted number fell 22.6%....
Sales -4.3% YOY, inventories +2.9% to 3.55M; YOY +23.1%. Median sales price -3.1% YOY; a -4.6% in the West last month alone.
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