The big weakness is in planes, but a drop of 13.2% in durable orders is shockingly bad. Ex-transportation new orders decreased 1.6%. Shipments dropped 3%; ex-transportation shipments dropped 0.9%. I wouldn’t recommend reading this thing – the string of minus signs burns out your eyeballs.
Checked out the Baltic Dry Index lately? Not good. Not good for the future.
Wait till Iran shows off its brand new bomb.
Firewood will seem high tech.
First I went broke slowly then I went broke quickly.
My father worked in the California school system and since his passing my mom recieves his pension.
After they announced that they would be printing money non stop, I told her that we would have to be prepared in case the state of California defaulted on her pension.
In the middle of this my mom started to cry and said ” you are scaring me”. My reply was we all should be scared.
It was also during this conversation that what was once an annoyance with progressives turned to pure hatred.
What make this data so damning is that there are no data points to show this all to be wrong.
My mom is lucky she has family who will help and we live in Canada, most do not.
Time to batten down the hatches.
You know Ford, the sad thing of it is that the progressives will use a collapse of the economies to implement even more Marxist crap.
Here is the biggest indicator the world is in trouble.
http://www.businessweek.com/news/2012-09-26/baoshan-steel-halting-production-at-china-factory
There is a huge, terrifying bubble built up around the aircraft industry. It won’t last much longer.
The comments at MOM for that thread are interesting. Many want to cut defense but spending on defense is small change in comparison to the cost of entitlements. Until a future US government actually tackles the cost of entitlements the red ink will continue to rise out of control.