Today’s Economic News

This morning we got the data on durable goods – that is the orders for substantive products like refrigerators and cars. “Experts” expected a drop of 2.5-3%, but it was much bigger. It was down 3.6%, which is a plunge. On CNBC, Rick Santelli said, “There is no good way to spin these in a positive way.” Even Steve Liesman, their knee jerk-Obama approving-liberal had to agree. “It’s a pretty sharp bounce down from last month,” he said. Last month it registered a positve 4.4%.

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