Not that I didn't know it was this bad, but again (as you understand my affinity for charts) until you visually see it, words don't really help the severity of this recession register with your brain.
Regardless, there is an economic lesson of the day with durable goods!
Much like housing starts predict the economy and employment into the future, durable goods is also a good leading indicator in that people usually hold off on these "large ticket items" if their future looks uncertain and buy them when they have faith their economic future will be bright. Things such as washing machines, microwaves, lawnmowers, etc.
If you look at the chart people certainly do not think the future is bright.
Or as I like to say, "REAL hope does not exist. Only faux hope of the socialist variety does."
Enjoy the recession!
I find it interesting that the chart has an overall strong upward trend during the Bush administration, and it pretty much is tanking during Obama's.
ReplyDeleteReminds me of what my Dad used to say. Hope in one hand and sh!+ in the other. Let me know which one fills up first.