Forward…Durable Good Orders Drop 13.2%, US Tips Into Recession

27 Sep

Durable Goods Orders Cliff-Dive Most Since Jan 2009 But Initial Claims Beat

This drop is the largest since January 2009 when world trade had fallen off a cliff. It appears the seasonal-adjustments are the driver of the plunge as NSA is -7.2% (still very weak for August). We are sure there will be calls for the V-Shaped recovery from this but with a very different stimulus-environment around the world (i.e. jaded and soaked in much more debt), we suspect that will be less than forthcoming

August GDP revised downward (surprise) from 1.7% to 1.3%…

Obama leads in the polls…makes sense.
Zero Hedge

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