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HomeWhat Recovery? Durable-Goods Orders Drop Off Cliff
Posted by Larry Doyle on August 26th, 2013 9:27 AM |
The economy might never look better for those involved in crony, rent-seeking pursuits.
For the rest of us, continued belt tightening is the order of the day.
With wages remaining stagnant, we now get to swallow a heaping of further economic gruel as large-ticket durable goods orders are reported to have taken what might only be compared to a swan dive off a tall cliff.
How long a dive and what is the degree of difficulty connected with this report? “Only” a 7.3 percent decline . . . OUCH. Brace yourself for a large splash and likely bodily injury upon entry.
Let’s review the dive a little closer as the WSJ covers the scene:
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