Blue chips slip amid new economic data

[dArKeR]

Report shows decline in durable goods orders last month
The Associated Press
Updated: 10:59 a.m. ET May 26, 2004

NEW YORK - Blue-chip stocks were lower Wednesday, as investors worried that the economy might be cooling too quickly after a larger-than-expected drop in durable goods orders last month.

A new Commerce Department report showing a decline in durable goods orders in April showed that the booming economy was settling down, alleviating inflation fears. However, the steep drop led some to worry that the economy might still be vulnerable to a downturn.

Also, the Commerce Department said sales of new homes plunged in April after a surprising surge in March. Sales of single-family home sales fell 11.8 percent in April — the largest drop since a decline of 24 percent in January 1994.

http://msnbc.msn.com/id/3683270/

As we all can see, Al Franken is the only media source which has morals and/or resources to investigate the American Media Whore lies. What does that have to say about Democracy and/or the power of the lying, cheating, immoral... republican party? I heard on mainstream TV and radio for the last 3.5 years that, 'The recovery will be here next quarter.' To be honest, I've never listened to Limbutt and I get a kick out of listening to him via the Franken show but I think it's time Al go after a more serious issue, the life of our country. The embedded cheating, corruption, racketeering, (at the very least immorality) of the American Media Whore announcers. But in fact it isn't the announcers, they are no different than aWol reading scripts. It's the CEOs and board of directors. I want to hear Franken play a 1000 times from 100 different sources that 'the recovery will be here next quarter.'

[Philostopher]

1. The information in this thread may be part of the story:

http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=102x583556

New housing is declining. The 'housing bubble' is something economists have lost sleep over for at least four years, now. If it goes, it'll hurt lots of things.

[gasperc]

2. housing down 11.8% in April

please see post

and with the huge spike in gas prices sucking billions out of the general economy and TO THE ENERGY INDUSTRY, oh boy

[trogdor]

5. There's your 4% economic growth.

Big Oil and Big Defense are getting it all.

[llmart]

3. I agree with you 100%!

We've been handed this pap for 3-1/2 years now. I can't see any evidence where I live and amongst the people I know that there is any "recovery". There sure hasn't been any improvement in my household situation.

[swinney]

4. Nasdaq where art thou

Off 60% from days of Great Man.

Dow--ask anyone :

How is your 401K
How is your IRA?
How is your stock portfolio?
How are your local taxes?
How are your gas expenses?
How are your kids college costs?

50,00 shares of Cisco--Under Great man--worth 3.75 million
Under Disaster Gang-worth 1.5 million.

My golf pal lost 2.25 million. No funny.