Thursday, July 28, 2011

There is that "unexpectedly" word again

Every time there is negative news about the economy, the mainstream media reports it as "unexpected". It must be nice for President Obama to have so many economic optimists in his corner.
(Bloomberg) — Orders for U.S. durable goods unexpectedly dropped in June, raising the risk that a slowdown in business investment will weigh on the world’s largest economy in the second half of the year.
Bookings for goods meant to last at least three years fell 2.1 percent after a 1.9 percent gain the prior month that was smaller than last reported, the Commerce Department said today in Washington. Demand for business equipment, including machinery and computers, also dropped.

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