Over the cliff: Durable goods orders drop 13.2% in August; Update: Q2 GDP downgraded from 1.7% to 1.3%

posted at 8:39 am on September 27, 2012 by Ed Morrissey

A key measure of the economy, especially in manufacturing, just had the bottom fall out.  Orders for durable goods dropped 13.2% in August, the worst decrease in almost four years, and a large signal that the American economy is diving into a recession:

New orders for manufactured durable goods in August decreased $30.1 billion or 13.2 percent to $198.5 billion, the U.S. Census Bureau announced today. This decrease, down following three consecutive monthly increases, was the largest decrease since January 2009 and followed a 3.3 percent July increase. Excluding transportation, new orders decreased 1.6 percent. Excluding defense, new orders decreased 12.4 percent. Transportation equipment, down following four consecutive monthly increases, had the largest decrease, $27.8 billion or 34.9 percent to $51.9 billion.

The news was even worse for capital goods, indicating that businesses have stopped investing in themselves:

Nondefense new orders for capital goods in August decreased $18.5 billion or 24.3 percent to $57.7 billion. Shipments decreased $1.2 billion or 1.7 percent to $69.5 billion. Unfilled orders decreased $11.9 billion or 2.0 percent to $580.5 billion. Inventories increased $1.5 billion or 0.9 percent to $171.9 billion. Defense new orders for capital goods in August decreased $4.1 billion or 40.1 percent to $6.1 billion. Shipments decreased $0.1 billion or 1.7 percent to $8.1 billion. Unfilled orders decreased $2.0 billion or 1.2 percent to $165.6 billion. Inventories increased $0.4 billion or 1.8 percent to $21.4 billion.

Unfilled orders — the “backlog” on which every manufacturer relies for continuity and security — also dropped by 1.7%, the largest drop since December 2009:

Unfilled orders for manufactured durable goods in August, down following two consecutive monthly increases, decreased $16.9 billion or 1.7 percent to $978.7 billion. This was the largest decrease since December 2009 and followed a 0.7 percent July increase. Transportation equipment, also down following two consecutive monthly increases, had the largest decrease, $12.0 billion or 2.1 percent to $568.6 billion.

Inventories, however, rose by 0.6%, which indicates that demand is perhaps even worse than this report would indicate.

Reuters points out that most of this fall came from transportation:

New orders for long-lasting U.S. manufactured goods in August fell by the most in 3-1/2 years, pointing to a sharp slowdown in factory activity even as a gauge of planned business spending rebounded. …

Economists polled by Reuters had expected orders for durable goods — items from toasters to aircraft that are meant to last at least three years — to fall 5 percent.

Last month, the drop in orders reflected weak aircraft and automobiles demand. Boeing received only one aircraft order in August, down from 260 in July, according to information posted on the plane maker’s website.

Transportation equipment tumbled 34.9 percent after racing ahead 13.1 percent in July. Excluding transportation, orders fell 1.6 percent after dropping 1.3 percent the prior month. Economists had expected this category to rise 0.3 percent after a previously reported 0.6 percent fall.

And while capital goods orders dropped by a huge margin, non-defense capital orders actually rose:

Non-defense capital goods orders excluding aircraft, a closely watched proxy for business spending plans, rose 1.1 percent, halting two straight months of hefty declines. That was above economists’ expectations for 0.5 percent gain.

That makes this appear to be a “fiscal cliff” reaction, as defense contractors lose orders ahead of the sequestration cuts.  That may boost Republican efforts to find a solution to that part of the sequestration equation, and put pressure on the White House to fix the problem as a way to avoid these kinds of headlines before the election.

Speaking of which, the BEA also delivered its final word on Q2 growth, scaling down their last estimate of 1.7% to 1.3%:

Real gross domestic product — the output of goods and services produced by labor and property located in the United States — increased at an annual rate of 1.3 percent in the second quarter of 2012 (that is, from the first quarter to the second quarter), according to the “third” estimate released by the Bureau of Economic Analysis. In the first quarter, real GDP increased 2.0 percent.

The GDP estimate released today is based on more complete source data than were available for the “second” estimate issued last month. In the second estimate, the increase in real GDP was 1.7 percent (see “Revisions” on page 3).

Real final sales of domestic product rose 1.7%, which is at least a decent sign that demand was better than overall sales.  It’s still a stagnation figure, but the upshot is that inventories declined overall as sales outstripped production by a small amount.  Under normal circumstances, that would be a good indicator for better days, but the 13% tumble in durable goods shows that the economy appears headed in the opposite direction.

Update: While we’re on economic indicators, the weekly jobless claims report had a surprising decline in applications:

In the week ending September 22, the advance figure for seasonally adjusted initial claims was 359,000, a decrease of 26,000 from the previous week’s revised figure of 385,000. The 4-week moving average was 374,000, a decrease of 4,500 from the previous week’s revised average of 378,500.

The advance seasonally adjusted insured unemployment rate was 2.6 percent for the week ending September 15, unchanged from the prior week’s unrevised rate. The advance number for seasonally adjusted insured unemployment during the week ending September 15 was 3,271,000, a decrease of 4,000 from the preceding week’s revised level of 3,275,000. The 4-week moving average was 3,295,500, a decrease of 15,000 from the preceding week’s revised average of 3,310,500.

We’ll see if this means anything significant, but I doubt this outweighs the sudden drop in manufacturing activity as an indicator of what’s ahead.


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Ed Don’t forfget the GDP revision down from 1.7% to 1.3%…

PatriotRider on September 27, 2012 at 8:41 AM

hide the decline

t8stlikchkn on September 27, 2012 at 8:42 AM

Unexpectedly!

Washington Nearsider on September 27, 2012 at 8:42 AM

“forget”

PatriotRider on September 27, 2012 at 8:42 AM

FOUR MORE YEARS!!!!!
///

Bitter Clinger on September 27, 2012 at 8:43 AM

So?

/media

Nick_Angel on September 27, 2012 at 8:43 AM

and yet Obama stands a good chance of getting reelected. How can this even be possible?

rollthedice on September 27, 2012 at 8:44 AM

MSM: Uh… Well, now. Boy, do we have some new polls for you today! Oh, and let us tell you about that Romney campaign!

Punchenko on September 27, 2012 at 8:44 AM

I’m sure that Zero’s poll numbers will now go up…

PatriotRider on September 27, 2012 at 8:44 AM

This will never make it into the MSM, the general public will not hear a word of this before the election.

Skwor on September 27, 2012 at 8:44 AM

Well this can’t help but raise Obama’s poll numbers-

BettyRuth on September 27, 2012 at 8:45 AM

Right before the election..there will be a 5% jump and the will say it is the biggest jump…foretting it doesn’t come close to the other 8% lost.

tomas on September 27, 2012 at 8:45 AM

Quick let’s focus on mitt and his “gaffes ”
-lsm

cmsinaz on September 27, 2012 at 8:45 AM

Heck of a recovery. But women aren’t interested in the past 4 years, right? Even women owned businesses that are suffering, unemployed women, or stay at home moms whose husbands are unemployed, right?

Stephanie Cutter to the white courtesy phone.

rbj on September 27, 2012 at 8:46 AM

lighten up…these are just “bumps in the road” to financial armegedon…

thedevilinside on September 27, 2012 at 8:47 AM

and yet Obama stands a good chance of getting reelected. How can this even be possible?

rollthedice on September 27, 2012 at 8:44 AM

“Good evening everyone. Let’s get right to our top story this evening: more fallout from the Mitt Romney 47% remarks.”

The Count on September 27, 2012 at 8:47 AM

Obama’s re-election is based entirely on the ignorance of a majority of the population to what anything in this article even means. If you heard to “man on the street” interviews of Obama supporters the other day, every one of whom “supports Obama’s pick of Paul Ryan as VP” and “hopes that Obama will capture or kill Bin Laden in his second term” then you can be certain that none of them will be basing their votes on durable goods orders, or any other metric that matters.

Tragic.

SoRight on September 27, 2012 at 8:48 AM

And aerospace suppliers are getting clobbered by Sequestration… because the major defense contractors are planning for the inevitable with the SCoaMF in the White House

phreshone on September 27, 2012 at 8:48 AM

and yet Obama stands a good chance of getting reelected. How can this even be possible?

rollthedice on September 27, 2012 at 8:44 AM

Because a very large portion of the voting population wouldn’t know a durable good if it bit them in the a$$.

Yoop on September 27, 2012 at 8:48 AM

If only we gave every American $100,000 dollars worth of food stamps.

/Democrats

Paul Krugman: That stimulus should have been $5 trillion dollars! No! It should have been… $20 trillion dollars! Tee hee hee! Skiddlywinks!

Punchenko on September 27, 2012 at 8:48 AM

Well the lsm will trumpet that unemployment claims dropped by 26,000 last week to 359,000, but they will ignore everything else.

bgibbs1000 on September 27, 2012 at 8:48 AM

Indeed soright

cmsinaz on September 27, 2012 at 8:50 AM

Unexpectedly!

Washington Nearsider on September 27, 2012 at 8:42 AM

Funny you mentioned that – per CNBC, none of Reuters’ economists expected the GDP revision to be down to 1.3%. The consensus was 1.7% (unchanged), with a spread between 1.4% and 2.0%.

Of course, the DOL came to SCOAMF’s rescue with the 359K initial jobless claim number – the expectations were in the 375K range.

Steve Eggleston on September 27, 2012 at 8:50 AM

thank Heaven’s for The View, otherwise, the peeps would focus on our failures on the economy and foreign affairs….
/Axlerod’s staff meeting

ted c on September 27, 2012 at 8:51 AM

A key measure of the economy, especially in manufacturing, just had the bottom fall out. Orders for durable goods dropped 13.2% in August, the worst decrease in almost four years, and a large signal that the American economy is diving into a recession:

blah, blah, blah, WHATEVER!!!!! Have you seen her freaking toned arms?

PappyD61 on September 27, 2012 at 8:51 AM

and yet Obama stands a good chance of getting reelected. How can this even be possible?

rollthedice on September 27, 2012 at 8:44 AM

Well, look who we decided to run against him. I will vote for Mitt, but we really did have a rare opportunity to present a candidate with a clear difference and we didn’t do it.

Odysseus on September 27, 2012 at 8:51 AM

What a depressing state of affairs…

PatriotRider on September 27, 2012 at 8:51 AM

Not that it wasn’t already official, but a vote for Obama is officially a vote for, at best, mediocrity.

Red Cloud on September 27, 2012 at 8:51 AM

:-(

It was avoidable, but people voted out of their ignorance and envy.

tom daschle concerned on September 27, 2012 at 8:52 AM

Ed Don’t forfget the GDP revision down from 1.7% to 1.3%…

PatriotRider on September 27, 2012 at 8:41 AM

When did this revision happen? Today?… That is really bad..

mnjg on September 27, 2012 at 8:52 AM

This will never make it into the MSM, the general public will not hear a word of this before the election.

Skwor on September 27, 2012 at 8:44 A

We knew the MSM was going to be stacked against us. Romney can now make a compelling case that we are drifting into recession. And you can be damned sure that next week’s first time unemployment applications will be revised upward — again for the 60+ time.

If Romney and the SuperPacs haven’t hsaved enough $$$ to assault this economic record, they have no one to blame but themselves.

FORCE the issue. The fundamentals of this race are so stark, so unbelievably bad for Obama that it is frustrating beyond belief that Romney is not ahead.

matthew8787 on September 27, 2012 at 8:52 AM

All you gotta do is swell the welfare rolls.
This in turn will create more jobs bcs people are buying more durable goods with their EBT card.
Problem solved.
Remember: we need those safety nets!

Badger40 on September 27, 2012 at 8:53 AM

Ed Don’t forfget the GDP revision down from 1.7% to 1.3%…

PatriotRider on September 27, 2012 at 8:41 AM
When did this revision happen? Today?… That is really bad..

mnjg on September 27, 2012 at 8:52 AM

This morning….see Drudge…

PatriotRider on September 27, 2012 at 8:53 AM

But…but…but…. GM is alive and OBL is dead! How can this be true?

Happy Nomad on September 27, 2012 at 8:54 AM

When did this revision happen? Today?… That is really bad..

Yes, this morning at 8:30 am. Final GDP reading for 2nd quarter 1.3, a huge drop.

matthew8787 on September 27, 2012 at 8:54 AM

But tomorrow, this will be the past.

Lets talk the next four years!
/

tomg51 on September 27, 2012 at 8:55 AM

Mitt Romney’s taxes!!

vcferlita on September 27, 2012 at 8:55 AM

Who cares? It’s all worth it so long as we’re able to see President Dreamboat on The View for four more years.

JFS61 on September 27, 2012 at 8:55 AM

S Q U I R R E L

cmsinaz on September 27, 2012 at 8:55 AM

Yes we can!

Cody1991 on September 27, 2012 at 8:56 AM

I will vote for Mitt, but we really did have a rare opportunity to present a candidate with a clear difference and we didn’t do it.

Odysseus on September 27, 2012 at 8:51 AM

Who was that?

Badger40 on September 27, 2012 at 8:56 AM

[sarcasm begins] Let’s Ban Corporate Profits! Yeah, That’s the Ticket! [sarcasm ends]

Just got this in an email…don’t know how long it’s been making the rounds, but THIS is priceless.

Can we make it into a Romney campaign ad?

Peter Schiff at the Democrat National Convention, asks Democrats if they support a federal law to BAN CORPORATE PROFITS.

Watch what happens:

http://www.youtube.com/embed/07fTsF5BiSM

mountainaires on September 27, 2012 at 8:57 AM

When did this revision happen? Today?… That is really bad..

mnjg on September 27, 2012 at 8:52 AM

Yep.

Steve Eggleston on September 27, 2012 at 8:57 AM

Obama Schedule || Thursday, September 27, 2012

by Keith Koffler on September 26, 2012, 9:51 pm

9:30 am || Receives the Presidential Daily Briefing
10:00 am || Departs White House
11:05 am || Arrives Virginia Beach, Virginia
11:50 pm || Deliver remarks at a campaign event; Farm Bureau Live, Virginia Beach
1:00 pm || Departs Virginia Beach
2:10 pm || Arrives White House

Wow… 30 mins for ‘work work’.

Cody1991 on September 27, 2012 at 8:57 AM

Australia / New Zealand?

Australia / New Zealand?

Australia / New Zealand?

Australia / New Zealand?

Australia / New Zealand?

Australia / New Zealand?

I’m sorry who is ahead in the polls again?

Oh, that’s right…..where was I, oh yeah.

Australia / New Zealand?

Australia / New Zealand?

Australia / New Zealand?

Australia / New Zealand?

PappyD61 on September 27, 2012 at 8:58 AM

With goods orders nose diving like that it’s a sure bet that lots and lots and LOTS of layoffs are coming very soon.

This is not good.

wildcat72 on September 27, 2012 at 8:58 AM

It was avoidable, but people voted out of their ignorance and envy.

tom daschle concerned on September 27, 2012 at 8:52 AM

I believe we refer to those folks as “bitter clingers.” After all, how could anybody vote against such a super smart hipster like Obama? :0

Seriously, let’s call it what it is. If you are an Obama supporter who is sticking with the rat-eared bastard because of his pigmentation, then you are a racist. If you are an Obama supporter
sticking with the rat-eared bastard because you think his policies are working you are an idiot.

Happy Nomad on September 27, 2012 at 8:59 AM

Obama Schedule || Thursday, September 27, 2012

by Keith Koffler on September 26, 2012, 9:51 pm

9:30 am || Receives the Presidential Daily Briefing
10:00 am || Departs White House
11:05 am || Arrives Virginia Beach, Virginia
11:50 pm || Deliver remarks at a campaign event; Farm Bureau Live, Virginia Beach
1:00 pm || Departs Virginia Beach
2:10 pm || Arrives White House

Wow… 30 mins for ‘work work’.

Cody1991 on September 27, 2012 at 8:57 AM

mmmm, nope sorry he really just makes it LOOK like he’s working. He’s actually watching “Homeland”.

PappyD61 on September 27, 2012 at 8:59 AM

Don’t look for this to be reported in the MSM. If it is . . . it will be reported in such complex terms that the average Honey Boo Boo fan out there won’t have a clue to what it means.

It means you won’t have the $ for another big screen or even afford the cable TV you nitwits!

kens on September 27, 2012 at 8:59 AM

that’s a 24% downgrade……….. huge!

ted c on September 27, 2012 at 9:00 AM

i blame the muhamed movie

t8stlikchkn on September 27, 2012 at 9:00 AM

Another key indicator suggesting the U.S. economy is less healthy than it appears: dividends!

(Keep in mind that a lot of this data is consistent with the U.S. economy having gone through a microrecession in 2012-Q2 – we continue to expect that the economy in Q3 will be stronger, although we don’t see that extending into 2013….)

ironman on September 27, 2012 at 9:01 AM

we need to stop being cynical, depressed, frustrated, amused — which are exactly the reactions the MSM seeks

Instead, get ANGRY. Talk to your neighbors about Obama; make phone calls for Romney; make a financial donation to the GOP etc.

matthew8787 on September 27, 2012 at 9:01 AM

Obama’s re-election is based entirely on the ignorance of a majority of the population to what anything in this article even means. If you heard to “man on the street” interviews of Obama supporters the other day, every one of whom “supports Obama’s pick of Paul Ryan as VP” and “hopes that Obama will capture or kill Bin Laden in his second term” then you can be certain that none of them will be basing their votes on durable goods orders, or any other metric that matters.

Tragic.

SoRight on September 27, 2012 at 8:48 AM

The upside is that most of those folks either don’t know when to vote or don’t care.

txhsmom on September 27, 2012 at 9:01 AM

i blame the muhamed movie

t8stlikchkn on September 27, 2012 at 9:00 AM

Too funny.

MississippiMom on September 27, 2012 at 9:02 AM

Nothing is so sad as watching those that are unwilling to see.

Jabberwock on September 27, 2012 at 9:02 AM

Bush strikes again!!
//

Bitter Clinger on September 27, 2012 at 9:03 AM

Why should I believe the employment figures when their GDP calculations have a 50% error margin!?!?!

Skywise on September 27, 2012 at 9:04 AM

I

will vote for Mitt, but we really did have a rare opportunity to present a candidate with a clear difference and we didn’t do it.

Odysseus on September 27, 2012 at 8:51 AM
Who was that?

Badger40 on September 27, 2012 at 8:56 AM

Yes, I have been wondering the same thing. Who, of the people that ran, would have been fairly treated by the media? I can imagine the tactics that would have been used against ALL of them. Newt is the only one who would have stood his ground – but they would have destroyed him as well. No, the media now knows they don;t have to even PRETEND to be fair.

djl130 on September 27, 2012 at 9:04 AM

In the week ending September 22, the advance figure for seasonally adjusted initial claims was 359,000, a decrease of 26,000 from the previous week’s revised figure of 385,000

To be adjusted upwards next week. Unexpectedly.

rbj on September 27, 2012 at 9:04 AM

Thank you for posting this video.

This is one of the FUNNIEST, SCARIEST videos I’ve ever seen.

I’ve already shared it on Facebook, and am tweeting it shortly.

http://www.youtube.com/embed/07fTsF5BiSM

PappyD61 on September 27, 2012 at 9:05 AM

When the cost of gas goes up, it eats up the discretionary income that families have for consumer spending.

It’s $3.96 per gallon where I live,(I got 12 gallons,) and in addition to that, the heating oil delivery was $5.00 per gallon (for about 200 gallons). There are no gas lines thru the hills I live on, so that is out of the question, you can burn wood, or you can pay the exorbitant bill for electric heat.

The cost of oil products are twice what it was when Obama took office, and now they make you get biofuel in the oil blend, which doesn’t save anything, it is just an expensive experiment.

Don’t think it doesn’t affect you, the NE liberals will be asking you to pay for the oil, at $5 per gallon for all the elderly, people out of work, people who get the free lunch at school, and those who can’t remember what they did with their EBT card.

Oh yes, and in MA when Mitt left office here, the unemployment rate with him and George Bush in charge was 4.8% Heating oil was about $3.00.

http://www.google.com/publicdata/explore?ds=z1ebjpgk2654c1_&met_y=unemployment_rate&idim=state:ST250000&fdim_y=seasonality:S&dl=en&hl=en&q=unemployment+rate+ma

You can either BLAME Obama or BLAME Duval Patrick for that chart, ( note the unemployment spiked to 8% in 2010) unemployment is 6.1% right now. And somehow, Massachusetts has the highest food stamp increase in the whole country.

Incomes have gone down during Obama, but unemployment and oil prices have gone up. I know people are talking about at fiscal cliff come January, but I think that if Obama wins again, for a lot of people, the cliff will be November 7th. Forget Christmas hiring/manufacturing, no one will be spending anything.

Fleuries on September 27, 2012 at 9:06 AM

Every business owner I know in this area is looking toward a zero Holiday season, and none are looking toward expansion or new hires…yet.

The unknowns are killing them. What will the new year bring insofar as taxation? Energy costs? Wage demands? Health insurance costs? You name it, there is nothing ahead that would compel any rational business owner to assume more risk at this time.

If Obama is re-elected, the bottom will truly drop out.

Obama has been inflating the bubble even more than most understand.

Compare the worth of the US dollar today with what it was four-years ago.

Compare shopping baskets from January 2009 to September 2012.

And people will still vote for this clown…because he talks a good game. So does every Chicago street hustler.

.

coldwarrior on September 27, 2012 at 9:06 AM

Well, the important thing to remember is that women really don’t care about this … they’re only concerned with the next four years.

darwin on September 27, 2012 at 9:07 AM

“G, DOUBLE O, D. J O B. GOOD JOB, GOOD JOB”

- what the MSM and the 47% will report.

LtGenRob on September 27, 2012 at 9:07 AM

Maybe if Hopey gets another four years and if Cutter is accurate,and….

…the economy will blossom,under Changeys Fanatastical Speechys!

canopfor on September 27, 2012 at 9:07 AM

i blame the muhamed movie

t8stlikchkn on September 27, 2012 at 9:00 AM

{chuckle}

…and others who denigrate Islam

Deafdog on September 27, 2012 at 9:07 AM

Ok, media, it is now time to release another super biased poll showing Obama 20 points ahead of Romney and people are approving him 90% on the economy…

mnjg on September 27, 2012 at 9:07 AM

and yet Obama stands a good chance of getting reelected. How can this even be possible?

rollthedice on September 27, 2012 at 8:44 AM

It’s possibe precisely because you conservatives are too damned polite!

You know that sister-in-law of yours, who had some baby with some dude who comes and goes, small-time drug dealer. She lives off of food stamps and an alphaet soup of other government handouts.

Well, SHE’S THE PROBLEM! But she shouldn’t be blamed. It’s just her survival skills kickin’ in. YOU ARE THE ONE TO BLAME. You and that pretty little wife of yours.

You’re too polite when she comes over. You hold your breath. Mumble under your breath. Your wife gives you that look, “just stay quiet honey…”

All the time you should be screaming in her face, “You f*cking moocher… You friggin’ thief. Stop stealing tax dollars from other Americans. Get off your lazy ass and get yourself a job. And if you can’t do that, get a friggin’ husband.

ericdondero on September 27, 2012 at 9:09 AM

[sarcasm begins] Let’s Ban Corporate Profits! Yeah, That’s the Ticket! [sarcasm ends]

Just got this in an email…don’t know how long it’s been making the rounds, but THIS is priceless.

Can we make it into a Romney campaign ad?

Peter Schiff at the Democrat National Convention, asks Democrats if they support a federal law to BAN CORPORATE PROFITS.

Watch what happens:

http://www.youtube.com/embed/07fTsF5BiSM

mountainaires on September 27, 2012 at 8:57 AM

WOW! What can you say after watching that video other than the country truly is screwed because nearly half the population thinks that way.

bgibbs1000 on September 27, 2012 at 9:09 AM

The MSM lapdogs are gonna need a bigger blanket to cover up this brush fire too……

Yeah, but look at Romney’s campaign!!! Doesn’t it suck???

What’s with Drudge and the “winks”? Is that the theme of the day- ‘hahaha – we fooled you 53% a$$holes’?

ICanSeeNovFromMyHouse on September 27, 2012 at 9:09 AM

There was nothing Barry could do to fix this. This job is too big for one messianic political redeemer who promised peace, prosperity, and a solar panel on every home. This is what Bill Clinton told us.

Punchenko on September 27, 2012 at 9:09 AM

Update: While we’re on economic indicators, the weekly jobless claims report had a surprising decline in applications:

They lie about everything else, why even assume there’s any truth to this?

bofh on September 27, 2012 at 9:10 AM

359,000 sound a lot like the # from July 4th week. Artificially lower due to the holiday.

Weren’t there religious holidays last week?

carson53 on September 27, 2012 at 9:11 AM

Does this mean the ratio of debt to GDP goes up, too? Just want to know cuz some wimmin have inquiring minds. 40 Days!

Kissmygrits on September 27, 2012 at 9:11 AM

Hey but who gives a crap, right?

The real NFL refs are coming back! Yippeeeee!!!

ICanSeeNovFromMyHouse on September 27, 2012 at 9:11 AM

It’s possibe precisely because you conservatives are too damned polite!

You know that sister-in-law of yours, who had some baby with some dude who comes and goes, small-time drug dealer. She lives off of food stamps and an alphaet soup of other government handouts.

Well, SHE’S THE PROBLEM! But she shouldn’t be blamed. It’s just her survival skills kickin’ in. YOU ARE THE ONE TO BLAME. You and that pretty little wife of yours.

You’re too polite when she comes over. You hold your breath. Mumble under your breath. Your wife gives you that look, “just stay quiet honey…”

All the time you should be screaming in her face, “You f*cking moocher… You friggin’ thief. Stop stealing tax dollars from other Americans. Get off your lazy ass and get yourself a job. And if you can’t do that, get a friggin’ husband.

ericdondero on September 27, 2012 at 9:09 AM

Hammer, meet nail head.

rollthedice on September 27, 2012 at 9:11 AM

Over the cliff: Durable goods orders drop 13.2% in August; Update: Q2 GDP downgraded from 1.7% to 1.3%

…this is a f$#king disaster and all we get from Obama and his followers is tongue baths on the View and David Letterman….

Baxter Greene on September 27, 2012 at 9:13 AM

Whatever. Just a bump in the road. Some Libyans are gonna come by and taken the durable goods to the hospital.

Nick_Angel on September 27, 2012 at 9:13 AM

This is really terrible news. The only way the media will cover it is if Romney has a press conference. Mitt should bring back the white board.

monalisa on September 27, 2012 at 9:14 AM

If he gets reelected and we go over the cliff who will he blame?

docflash on September 27, 2012 at 9:15 AM

Mitt should bring back the white board.

monalisa on September 27, 2012 at 9:14 AM

Incredibly racist, ya know. :-)

coldwarrior on September 27, 2012 at 9:16 AM

This is really terrible news. The only way the media will cover it is if Romney has a press conference. Mitt should bring back the white board.monalisa on September 27, 2012 at 9:14 AM

Racist.

/MSNBC

Nick_Angel on September 27, 2012 at 9:16 AM

To quote Samuel L. Jackson:

“WAKE THE F**K UP!!!”

ICanSeeNovFromMyHouse on September 27, 2012 at 9:18 AM

Don’t look for this to be reported in the MSM. If it is . . . it will be reported in such complex terms that the average Honey Boo Boo fan out there won’t have a clue to what it means.

It means you won’t have the $ for another big screen or even afford the cable TV you nitwits!

kens on September 27, 2012 at 8:59 AM

Hey! Leave Honey Boo Boo alone, it’s hilarious. I’d rather live next door to them than the average Obama supporter. I watched it last night instead of Greta, and it was very refreshing to step away from the election for an hour.

BettyRuth on September 27, 2012 at 9:18 AM

Hey people, just accept it. Bill Clinton gave a speech and assured us that this is as good as anyone could have done on the economy. No sense discussing it. Bill Clinton said it and the media bought it. It couldn’t have been any better. The new America of low expectations.

JohnInCA on September 27, 2012 at 9:18 AM

…and let’s hear from the “smartest people in the room”….

Study: Only 15 percent of Democrats believe economic news is bad

http://74.84.198.233/headlines/archives/2012/09/21/study-only-15-percent-of-democrats-believe-economic-news-is-bad/

New data found that just 15 percent of Democrats believe that recent economic news is mostly poor,

…Completely…..stuck….on….stupid.

Baxter Greene on September 27, 2012 at 9:19 AM

13.2%?

O_o

Jeebus…change it back.

Bishop on September 27, 2012 at 9:19 AM

The only way the media will cover it is if Romney has a press conference. Mitt should bring back the white board.

monalisa on September 27, 2012 at 9:14 AM

They’ll call it a campaign gaffe and talk endlessly of how awkward it was for Mitt Romney to hold a press conference and use a white board.

Bringing up Obama failures or current events at a press conference, if you’re a Republican, is now campaign-destroying gaffe per MSM standards.

The Fourth Estate truly is criminal.

Punchenko on September 27, 2012 at 9:20 AM

PappyD61 on September 27, 2012 at 8:58 AM

Better go with New Zealand. Small enough that the big powers when looking for countries to rape of their wealth might overlook it.

astonerii on September 27, 2012 at 9:20 AM

New data found that just 15 percent of Democrats believe that recent economic news is mostly poor,

The new economic news involves mostly the poor and soon too be poor….and without the poor, there’d be no Democrat party.

coldwarrior on September 27, 2012 at 9:21 AM

LIVE FEED

Video: United Nations General Assembly

http://www.breakingnews.com/
=============================

United Nations
@UN

Official twitter account of United Nations. Get the latest information on the UN.

UNHQ, New York · http://www.un.org
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United Nations ‏@UN

Also speaking this morning at #UNGA: Slovenia (@Janez_Jansa), Israel (@Netanyahu) & Lesotho. Watch: http://j.mp/KQ78Zz

https://twitter.com/UN

canopfor on September 27, 2012 at 9:22 AM

359,000 sound a lot like the # from July 4th week. Artificially lower due to the holiday.

Weren’t there religious holidays last week?

carson53 on September 27, 2012 at 9:11 AM

I could be wrong, but I think on 9/17 the schools in my district were closed. I forget why, but traffic was pretty light that morning.

Doughboy on September 27, 2012 at 9:22 AM

Obama Schedule || Thursday, September 27, 2012

by Keith Koffler on September 26, 2012, 9:51 pm

9:30 am || Receives the Presidential Daily Briefing
10:00 am || Departs White House
11:05 am || Arrives Virginia Beach, Virginia
11:50 pm || Deliver remarks at a campaign event; Farm Bureau Live, Virginia Beach
1:00 pm || Departs Virginia Beach
2:10 pm || Arrives White House

Wow… 30 mins for ‘work work’.

Cody1991 on September 27, 2012 at 8:57 AM

mmmm, nope sorry he really just makes it LOOK like he’s working. He’s actually watching “Homeland”.

PappyD61 on September 27, 2012 at 8:59 AM

9:30 AM might be the earliest he’s ever shown up for “work”. Usually his day starts no earlier than 10.

wildcat72 on September 27, 2012 at 9:22 AM

If I understand how these revisions work, you get the benefit of inflated numbers in the initial reporting and then you get the benefit later when they are revised downward and your future numbers will look better for you based on the change from the new lower figure.

If that’s the case, then it would prove book-cooking unless the previous numbers are revised upwards as often as they are adjusted downward.

And then I would check the temperature revisions to see if the same thing is happening. If they are always revising the temps lower, they get the propaganda benefit of the initial warming report and the benefit of using a lower figure from which they can claim warming has occurred on their next report.

Buddahpundit on September 27, 2012 at 9:23 AM

New data found that just 15 percent of Democrats believe that recent economic news is mostly poor,

…Completely…..stuck….on….stupid.

Baxter Greene on September 27, 2012 at 9:19 AM

Baxter Green:Its da KOOL_AID:)
===============================

gallupnews ‏@gallupnews

90% of Democrats trust the executive branch, vs. 52% of independents and 17% of Republicans. #whatgallupknows http://bit.ly/Qm9eDc

https://twitter.com/gallupnews

canopfor on September 27, 2012 at 9:24 AM

I’M AN ENGINEER IN MANUFACTURING!

All of my engineering friends in other companies are experiencing the same thing that my company is — orders are way down, we never really recovered from the recession and we think another drop is coming.

Just in my city there are 3 MAJOR US manufacturers (heavy equipment), and one of them is getting ready to lay off half of its workforce in a European country as well ! The people in that small country have no idea what is about to hit them, because the operation is being moved to China. Manufacturers can no longer compete

I don’t care what the unemployment rate says — I’m convinced those numbers are being manipulated. Or everyone is going on disability. Because we’ve all been in a hiring freeze for years now, and we might have layoffs again!

CambellBrown on September 27, 2012 at 9:24 AM

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