I would like to unexpectedly see a whole bunch of paid economists lose their jobs. These paid economists never seem to see what is coming up in the next quarter, let alone the next month. It can be the economists who predict jobless claims, housing starts or factory orders, it doesn’t matter, they all get it wrong Yes, Once Again, Wrong
US factory orders drop unexpectedly
Lower demand for machinery and defense equipment prompted a fall in US factory orders in February, the Commerce Department said Thursday, dashing hopes for a rebound after start-of-year blizzards.
New orders for big-ticket items â€” such as planes, computers and cars â€” fell 0.9 percent during the month, led by a 4.2 percent drop in machinery orders.
That shocked economists, who had expected orders to rise.
Rise? rise? seriously? why would they think for one moment that factory orders would rise? I, as a mother and wife and the shopper of the household could tell you that We The People are not buying large factory goods. We are buying gas to get back and forth to work and the rest is going to food and clothes. This mess that the Obama Administration has us in isn’t going away while he has a bunch of neophyte leftists running all the levers of government. Business owners are smartly holding on to their cash as are all Americans waiting out the next 18 months of this horror that 52% of our fellow citizens thrust upon us.
Here is my projection and these smart economists can take it to the bank and not be caught unawares:Â as of January 2013, with a new Republican President, factory goods, etc. will explode in the first quarter of his or hers Administration.