This morning we learn that US new capital goods orders fell 8.1% year over year for October. As shown below drops of this magnitude occurred in the early stages of the last two US recessions in 2002-03 and 2007-08.
Source: St. Louis Fed
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Cory’s Chart Corner
Load MoreMany will focus the blame of market drawdowns on the tariffs and ignore the fact the SP500 (only a few weeks ago) was trading at 4 std devs above its historical mean…valuation also matters.
BREAKING: The European Union is preparing further counter measures against newly announced US tariffs of 20%, per CNBC.
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10 BLEAK YEARS AHEAD
http://www.theburningplatform.com/?p=44332
Re: Cory’s Case -Shiller chart …….. it may be worth comparing it with pretty much any lumber or wafer board producer or even Home Depot. So who is buying the boards?