Thrill Is Gone … From Bidenomics! US Durable Goods Orders Fall -15.23% From June To July While Fed M2 Money Grew 12.7% (Turning Back On The Money Machine!)

Confounded Interest ^ | 08/24/2023 | Anthony B. Sanders

[Kaiser8408a]

The Thrill Is Gone … from Bidenomics.

July durable goods [blue] new orders plummet, recording the worst month since C19 in April 2020. Durable goods fell on a MoM basis by -5.2%, versus -4% consensus estimate. Durable goods ex-transportation [orange] still rose on a MoM basis by +0.5%, perhaps highlighting the weakness in durable goods orders.

Ex-transportation, durable goods order rose slighlty in July by 0.5%.

But according to The Fed of St Louis, durable goods new orders were down -15.525% from June to July (MoM) while M2 Money printing growth rose 12.7% MoM.

The KC Fed’s symosium in Jackson Hole WYO is underway and The Fed’s money machine is firingg up again. Here is the evil spirit of Statism speaking at Jackson Hole.

[Kaiser8408a]

Yellen doesn't get enough blame for the mess we are in.

[TexasFreeper2009]

Bidonomics implies that Biden has a plan

Biden has NO PLAN! he is just hiding in his basement changing his depends and hoping the economy turns around that he and the covidians broke!

[griswold3]

Atlanta Fed predicts 2023 3rd qtr @ 5.8%
WTH?

[Charles Martel]

Whether Joe has a plan or not, the economy is reacting to policies that have been enacted on his watch. Executive Orders signed, bills passed by Congress and signed into law by him. Regulatory actions by Executive Branch agencies. No formal plan is needed, just the cumulative result of many deliberately harmful decisions.

Dumb title for this article, BTW... there was never any "thrill" associated with Joe's policies. Except for the tingles that the Democrats felt at Trump's policies and initiatives being dismantled, probably. We felt the same when Obama's policies were overturned and deleted by Trump - but that thrill at least spread across the country in the form of economic prosperity and record numbers of jobs filled. All while the Uniparty tried to obstruct and even impeach the man - Trump's level of success in the face of such resistance burns them even now. As for Joe, well, he's just the latest, greatest bringer of malaise.

[GailA]

btt

[griswold3]

8 days ago
https://www.reuters.com/markets/us/atlanta-fed-model-lifts-us-third-quarter-gdp-view-58-2023-08-16/

[GailA]

That is way over the 3% SS gets in Oct. Gas today in a 10-mile stretch was $3.40- $3.60. Shell was the highest. TN has 1 fixed gas tax and 1 PROGRESSIVE TAX. The pissy 4% grocery ‘rebate’ doesn’t offset the 10.75% which is the norm for Shelby County which adds 2.25%.