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!
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