Thrill Is Gone … From Bidenomics! US Durable Goods Orders Fall -15.23% From June To July While Fed M2 Money Grew 12.7% (Turning Back On The Money Machine!)

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The Thrill Is Gone … from Bidenomics.

July durable goods [blue] new orders plummet, recording the worst month since C19 in April 2020. Durable goods fell on a MoM basis by -5.2%, versus -4% consensus estimate. Durable goods ex-transportation [orange] still rose on a MoM basis by +0.5%, perhaps highlighting the weakness in durable goods orders.

Ex-transportation, durable goods order rose slighlty in July by 0.5%.

But according to The Fed of St Louis, durable goods new orders were down -15.525% from June to July (MoM) while M2 Money printing growth rose 12.7% MoM.

The KC Fed’s symosium in Jackson Hole WYO is underway and The Fed’s money machine is firingg up again. Here is the evil spirit of Statism speaking at Jackson Hole.