Durable Goods Orders Surge 4.9% (Biggest Gain In Two Years)

[Purveyor]

Source: CNN Money

WASHINGTON (Reuters) -- New orders for long-lasting U.S. manufactured goods recorded their biggest gain in two years in July, buoyed by a surge in aircraft orders, a government report showed Wednesday.

Durable goods orders jumped 4.9%, the largest advance since July 2007, after falling by a revised 1.3% in June, previously reported as a 2.2% drop, the Commerce Department said.

Analysts polled by Reuters had forecast orders rising 3% in July. However, compared to the same period last year, new orders were still down 25.8%.

U.S. stock index futures briefly rose on the report and then dropped, while government bond prices were unchanged.

"The headline figure was up more much than expected, driven by a large increase in the transportation sector, not surprisingly. Excluding that, it was about as expected," said Dan Greenhaus an analyst at Miller Tabak & Co. in New York.

Read more: http://money.cnn.com/2009/08/26/news/economy/durable_goods.reut/index.htm

[skipos]

1. Huh. There aren't any posts in this thread, so this must be good news

or at least not bad news.

[Yavin4]

3. The Obama Recovery Train Is On Time

This bodes well for the 2010 economy.

[USA_1]

5. You Bring Up A Good Point

Not only are the far right ignoring these good signs, the Dems are ignoring them as well.

Whenever I post on web forums, libs and Dems ignore these good news items and tend to dwell on the negative. Can somebody explain why this is so???

[Yuugal]

7. I guess it depends whether you are a cheerleader or not.

If you are one of the Obama cheerleaders, every little snippet of economic news that says something even remotely positive is to be championed as heralding in a golden age of prosperity at Obama's hands. For those of us who are still unemployed/underemployed, then the reality of facts like this one depresses us further: "However, compared to the same period last year, new orders were still down 25.8%."

Basically, we made and sold a 100 widgets a month last year and orders right now are for 75. Its nice it is up from 70, but no one who is reality based is gonna conclude their job is coming back any time soon. I think the depression you are seeing in progressive dems will get even worse as Obama caves in over and over to his corporate master's every wish.

The phrase "Change we can believe in" has taken a very gallows humor meaning in my house and among my progressive friends as one by one, Obama breaks every promise he has made.

I sure as fuck didn't vote for him to expand any wars and I actually believed him when he said he could get the troops out in a year, later changed to 16 months, now changed to......"they'll be there until the next election cycle so I can sucker in more gullible progressive votes." Its reminds of why repukes always run against abortion but never end it when they are in power: that would be bad politics for them.

I remember a guy promising us a seat at the table for health care reform. Someone here posted a nice picture of that table the other day: a bunch of DINO's and repukes and industry people. Obama couldn't be at that meeting I guess because he was too busy cutting back room deals with Big Pharma. Perhaps he was at one of those Goldstein-type hate-fests that qualify as a town hall meetings these days. I find it "interesting" that expanding the wars and giving trillions to crooked bankers didn't get the town hall treatment......

Speaking of those bailouts,.....and all the DLC types he surrounded himself with......and all the promises broken, well, it just makes my belly hurt so I'll let you fill in the blanks before I write you a book. I'm still as progressive as ever, just sad we didn't get one this time around. I'm not the type to pretend its all good when it ain't, either. In other news, the chocolate ration has been raised from 8oz a month to 6oz. Yippee!!!!!!1!1!1!

[Mistwell]

8. Yeesh

Yeesh. Pretty grim around here lately.

[TheWatcher]

9. Because they can see that they are being fed Propaganda and Spin presented as False Reality.

Nothing has changed fundamentally in the Real Economy.

[USA_1]

10. Spin?

Clinton gave us unparalleled prosperity. Bush screwed it all. But in all honesty, the screw up job he created did not get done overnight.

On that basis, the fix up Obama is doing to that mess cannot reasonably be done overnight as well.

[TheWatcher]

11. Yes, Spin. And Clinton did NOT Give us "Unparalleled Prosperity"

Greenspan, Rubin, and Summers gave us a TECHNOLOGY BUBBLE that was not sustainable, and the most reckless, foolish Monetary Expansion in History.

Their Bubble was already imploding when the Dictator took office. What HIS cabal did was replace it with yet another Bubble, two Wars, neither of which is justified or sustainable, and Robbery at Gunpoint in the form of Paulsen's Bailout when THEIR Bubble Collapsed.

As far as Obama's "fix up", there has been little done in the way of "fixing up" the real economy.

But there has been much attention given to Wall Street, The Banksters, and the Corporations that actually seem to run this country.

As for the Real Economy, I am afraid that "talking up" is not going to "fix it up."

No matter how many people want to believe that.

[USA_1]

13. I Take It You Are A Republican ...

... who wishes Bush could have had a third term in the White House.

[TheWatcher]

14. I take it you are someone who cannot read and uses selective reasoning to analyze a Post

Or did you not see me call Bush a Dictator, his cabinet a Cabal, and for that matter I should ADD a Giggling Murder who used Torture as National Policy.

Perhaps you also missed the part in the post about the Two Illegal, Unjustified Wars based on lies, and the comments about Paulsen's Bailout, which was nothing more than Gun To The Head Legislation and Robbery of the taxpayer at gunpoint.

You are just like anyone who is lost in the Football Team Mentality. So lost in your perception you treat this like an NFL Rivalry where you blindly support our "Football Team" against the rival "Football Team" while failing to hold your own "Team" to scrutiny and accountability.

Attempting to have a conversation with someone like you is useless. You cannot debate or refute any information with any of your own, so therefore you resort to tired name calling and insults.

Yes, anyone who sees things outside your Rose-colored false paradigm is a Republican.

A quick check of my posting history would prove your assumption so completely wrong it would and should embarrass you into silence for the next few months. You have no idea what you are talking about. Just because I don't worship the Party Line Blindly as you do, that doesn't make me something I'm not.

Grow Up, Wise Up, and learn what is happening in your country.

Or just continue to live in the safe Bubble of Superior Indifference.

You don't WANT to know the TRUTH. You want your PERCEPTION of The Truth MANAGED so you can continue to ensconce yourself in whatever false paradigm makes you feel good and powerful.

Run Along Now.

I have absolutely no patience for people like you anymore.

*Click*

[USA_1]

15. LOL!!!

Thanx for the laugh.

Auto sales are up, purchases of goods are up, sales of houses are WAY UP! To say these are not signs of success is, well, let us say, the type of vision we see among Republicans.

It will take a while for Obama to fix the mess created by Bush. Let's support his initiatives and not sabotage his efforts as this is precisely what the far right wants.

[TheWatcher]

16. Laugh it up all you want. The Joke is on YOU.

Auto Sales being up are a Blip because of the Cash For Clunkers program.

It is a Blip and nothing more. Wait a quarter and see what that line of reasoning gets you. Durable Good Purchases are up mostly due to Military expenditures. Endless War means endless Spin.

As for housing, again, the joke is on you. When you take out the "seasonal adjustment" nonsense and observe the raw, unmassaged data buried within the Spin, there was a decline of 9.3%.

You need to learn to look past the Propaganda, quit taking it at face value, and then proudly quoting what the TV tells you, acting like you know something.

YOU DON'T.

You haven't got the first CLUE.

Being able to see past the lies that have been put before us for the past six months has nothing to do with left, right, Democrat, or Republican.

It has to do with being a a human being that can think for themselves.

You do not seem to be able to do that. You cling to party line nonsense and nuggets of Propaganda and think everything is fine.

You are lost in a false paradigm of bullshit, equating logical, reasonable questioning of obvious Propaganda to sabotaging the President.

Like I said, you haven't got a clue what you are talking about.

You don't even have enough basic knowledge of economics to understand that going from one artificial Bubble to the next ends up causing an even GREATER Crisis when it bursts. You don't even understand that the Economy we had under Clinton was a Bubble, and you probably can't grasp that '03-08 was an unsustainable Bubble too.

UNLEARN.

Like I said, you're wasting my time, and your own.

Go debate and analyze Propaganda and Spin with someone else.

I'll stick to reality.

Off to Ignore with you.

[USA_1]

17. 700,000 Autos Sold = A ''Blip''

that's a weird sense of reality

[ramapo]

2. I'm sure Fox will spin it as bad news

Can't have anything positive happen while we're on the road to a socialist Nazi collapse

[SpartanDem]

12. Who needs Fox plenty of people here will do the same thing

[TheWatcher]

4. .....

http://forums.wallstreetexaminer.com/index.php?act=attach&type=post&id=645

[Kingofalldems]

6. And yes! Repub leader Limbaugh foiled again.