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Economic data released this morning showed Durable Goods orders falling back-to-back, for the first month since April, 2020, as the policies of the disastrous Biden* Administration take effect.
GDP also missed consensus expectations.
The American economy is being deliberately driven into the ground by the occupants of the U.S. Executive Branch with massive, absurd spending, a planned supply-chain crisis, and manufactured inflation.
Financial markets are down slightly but still at stratospheric levels, beyond any fundamental valuation, just riding on the massive quantitative easing, or as they say in Bolivia - printing lots of money.
MBA Mortgage Applications (Nov 19) printed at 1.9%.
Durable Goods Orders ex-Transportation (Oct) printed at 0.5%.
Core Personal Consumption Expenditures (QoQ) (Q3) PREL printed at 4.5%.
Wholesale Inventories (Oct) printed at 2.2% vs 1% estimate.
Durable Goods Orders ex Defense (Oct) printed at 0.8%.
Continuing Jobless Claims (Nov 12) printed at 2.049M vs 2.033M estimate.
Gross Domestic Product Price Index (Q3) PREL printed at 5.9% vs 5.7% estimate.
Goods Trade Balance (Oct) PREL printed at -$82.9B.
Personal Consumption Expenditures Prices (QoQ) (Q3) PREL printed at 5.3%.
Durable Goods Orders (Oct) printed at -0.5% vs 0.2% estimate.
Initial Jobless Claims (Nov 19) printed at 199k vs 260k estimate.
Non-defense Capital Goods Orders ex Aircraft (Oct) printed at 0.6% vs 0.5% estimate.
Initial Jobless Claims 4-week average (Nov 19) printed at 252.25k.
Gross Domestic Product Annualized (Q3) printed at 2.1% vs 2.2% estimate.
Tuesday's Numbers
Redbook Index (YoY) (Nov 19) printed at 15.4%.
Markit Manufacturing PMI (Nov) PREL printed at 59.1 vs 59 consensus estimate.
Markit Services PMI (Nov) PREL printed at 57 vs 59.1 estimate.
Markit PMI Composite (Nov) PREL printed at 56.5 vs 57.4 estimate.
Richmond Fed Manufacturing Index (Nov) printed at 11 vs 5 estimate.
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All this economic destruction began under Donald J. Drumpf. The first clown in his cabinet was Richard Haass, Club of Rome minion. The United States Association of the Club of Rome (USACOR) was formed in 1976 for the sole purpose of gradually shutting down the US economy. Why do you think Drumpf hired him in the first place? Stop seeing any of these clowns as saviors! Drumpf is one of them!
As long as people continue to see one cheek of the party ass as left (evil) and the other as right (righteous) when the two cheeks are of the same ass, then the oligarchs criminals will continue their destruction with complete impunity. Those behind Alzheimer Creepy Joe are ok with the ruin he is accomplishing as he picks right up where Drumpf left off. Next term, Drumpf will come back, continue where Creepy Joe left off and be cheered on by Drumpf followers. Until people realize these actors were (s)elected without any input from the public. If voting could make any meaningful change, it would have been made illegal long ago.
Regardless of what cheek you are hanging on, it's still the same ass!
This entire scamdemic was started under Drumpf, along with lockdowns, shutting down business, and Operation Warp Speed. Since when is "vaccine" production considered a military operation? These poison bio-weapon MAGA jabs that Creepy Joe is mandating all came from Drumpf, and Drumpf continues to brag about it! He travels around the country telling everyone to go get jabbed, "I did, it's safe!" Drumpf says. I assure you he did not get jabbed, neither did his buddy Creepy Joe, that was all theater.
I hope everyone has a great Thanksgiving...