Capex implosion

New durable goods orders were down 5.7% in March. Yikes!

But the sequester.....

Excluding defense, they were down 4.7%


Is it going to be another spring swoon and summer of discontent? Will Joe Biden have to go back out on the road?

Or has the new housing bubble stoked the economy sufficiently to continue its vaguely upward drift?

Tell me in the comments.

Not the report we were looking for.

69,000 net new non-farm jobs in May. The prediction was for a relatively weak 150,000 and we didn't get to half of that!

April's number was revised down from 115,000 to 77,000 and March was revised down from 154,000 to 143,000.

To put all this in perspective, we should be seeing numbers around or over 250,000 per month in an "normal" recovery.

YIKES!