– US Recession Imminent – Durable Goods Drop For 5th Month, Core CapEx Collapses (ZeroHedge, July 27, 2015):
Durable Goods new orders has now fallen 5 months in a row (after revisions) flashing a orangey/red recession warning. After 2 weak months, Durable Goods bounced more than expected in June (+3.4% vs +3.2% exp) – though non-seasonally-adjusted dropped 3.1% MoM. There was an unexpected drop in Capital Goods Shipments non-defense Ex-Air which fell 0.1% (against expectations of a 0.6% rise), but mosty worrying is that Core CapEx collapsed 6.6% YoY – the second biggest decline since Lehman.
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Takeovers in medical and pharmaceutical fields are causing the takeover stock to show some growth (no matter how artificial and staged), the rest of them are still down. I loathe Bloomberg, but occasionally, they drop a drop of truth inside the happy horseshit their talking heads constantly spew…..
Dow futures are now down to 60 from 93 two hours ago.
According to the Bloomberg talking heads, Chinese markets are collapsing due to margin calls…….
Oh, Bloomberg is pitching investments in China………..being down makes it a good investment? Evidently…….Phalanx Capital CEO is doing the selling on the Chinese markets.
Selling the “nifty 50” or top 25 blue chip Chinese stocks……What an idiot….Blue Chip in China is closest to an oxymoron I have heard…………..
He is pushing stock that isn’t prevented from being traded…..isn’t that lovely?
Bloomberg ought to be ashamed of itself, it used to do a decent job for the investor, but no longer.