Jul 02

Factory Orders Scream Recession: Annual Drop Biggest Since 2008  (ZeroHedge, July 2, 2015):

This has never happened outside of recession… Year-over-year, factory orders dropped 6.3% (adjusted) but 8% non-adjusted, the most since the financial crisis. Against expectations of a 0.5% drop MoM, manufacturers saw new orders tumble 1.0% and previous months were revised dramatically lower. Factory orders has now missed 10 of the last 11 months.


Tags: , , ,

One Response to “Factory Orders Scream Recession: Annual Drop Biggest Since 2008”

  1. Marilyn Gjerdrum Says:

    Since we have no free press left, all of this valid information is quickly buried, and the talking heads speak only of the “recovery” that none of us seem to be enjoying. Just spoke with a friend who is carrying some real estate with adjustable rate loans. Their interest rates have gone up 3:1 since they signed on, and will reset again soon……..The greedy guts are dismantling this economy, and there are no services to help the millions of people under water thanks to accelerating mortgage rates.

    Prices for everything for the people are going through the roof, groceries, mortgages, vehicles, medical care, insurance, you name it……Our dollar, thanks to the excessive leveraging, is losing value all over the world. The diatribe by the so-called economic talking heads insisting we have a strong dollar is just that….diatribe.

    The FED doesn’t raise rates, that might hurt the banks and greedy guts at the top. However, the banks are sure doing it to those seeking or holding loans….. Jumbo ARM’s are over 6% for A+ credit, 30 year mortgages are well over 4% if you have perfect credit. If your credit has any defects, the rates are higher. For all those who bought homes before and since the crash on ARMs, they are sure paying for it now.

    I saw an interesting report on real estate and its lopsided recovery. Homes that are affordable for the working people are in short supply, running the prices up when they do appear. This makes it harder for folks to afford them, and rates for homes continue to climb.

    Homes above the median average are flooding the market, there are far more for sale than buyers who can afford them, especially with the rising interest rates. For those who can afford them, there is a huge selection of homes to draw from…….The opulent years are really behind most Americans, or there would not be such a huge selection of upper priced homes for sale.

    Factory orders are down because folks are only buying what they have to in order to function…..Much of the fun shopping we used to enjoy is something of the past. We all feel the change in the economy, and it isn’t for the better. Mood has much to do with overcoming a depression or recession, but we have leaders who have been lying to us daily for the past decade or more, and as more people are personally affected, they know they are lies.

    Problem when a government gets the reputation of being liars…..if they try to tell the truth, nobody believes them. There is nothing more valuable than credibility, and once it is lost, it is gone.

Leave a Reply