Japan Machinery Orders Implode As Global Economy Grinds To A Halt

[Meetzos]

So much for the recovery the msm keeps telling us that it's picking up out there.

http://www.zerohedge.com/news/japan-...my-grinds-halt

Japan Machinery Orders Implode As Global Economy Grinds To A Halt
Submitted by Tyler Durden on 07/08/2012 20:46 -0400

Japan's core machinery orders were expected to post a modest -2.6% drop. Instead they had a worse collapse than anything seen in the aftermath of the Fukushima disaster, plunging by a stunning 14.8% . And the kick in the groin cherry on top was the current account surplus plunged by 62.6%: consensus forecast: -14.5%. The Japanese economy has once again ground to a halt, only this time it has no earthquake or nuclear explosion to blame. This time it is the entire world's fault, where demand has collapsed proportionately. As a reminder the BOJ expanded its QE yet again on April 27. Must be time for another QE because this time will certainly be different after more than 30 years of failures. It is time for those brilliant central planners Ph.D's to do engage in more of the same insanity that Einstein warned about decades ago. And incidentally this is not a joke: on Thursday the BOJ is expected to ease yet again. As a reminder, the BOJ already buys ETFs, Corporate Bonds, and REITs. What's left: gold?
snip

[Scorpio]

those brilliant central planners Ph.D's to do engage in more of the same insanity that Einstein warned about decades ago. And incidentally this is not a joke: on Thursday the BOJ is expected to ease yet again. As a reminder, the BOJ already buys ETFs, Corporate Bonds, and REITs.

exactly right, same 'ole chit, different day/month/year

for 20 yrs, no real answers

[REO 54]

....I think it was said buy Phid..It is an incestuos bailout funding. I para phrase badly but you get the point. And then there is Barclays and the
LIBOR scandal.....sheesh can't belive this is'nt making sheeple headlines! Well maybe not.

[gnome]

If WWII taught us anything, it is that the Japanese are willing to go down in flames before they will admit they are fighting a lost cause.

[Goldhedge]

This must be a story from the Onion because my MSM didn't cover a lick of it on the evening news... or the morning news... or...

[REO 54]

This must be a story from the Onion because my MSM didn't cover a lick of it on the evening news... or the morning news... or...

U.S. Stock-Index Futures Decline as Japanese Orders Fall....


U.S. stock-index futures fell, indicating the Standard & Poor’s 500 Index may retreat for a third day, as Japan’s machinery orders dropped the most in more than a decade.

Bank of America Corp. (BAC) and Citigroup Inc. declined in German trading. Alcoa Ltd., the largest U.S. aluminum producer, retreated before it kicks off the second-quarter earnings season.

S&P 500 Index (SPX) futures expiring in September fell 0.5 percent to 1,345.6 at 7:20 a.m. in New York. The benchmark gauge slipped 0.6 percent last week, after reaching a two-month high, as jobs data heightened concern about a slowing economy and optimism faded that Europe will resolve its debt crisis. Dow Jones Industrial Average futures lost 55 points, or 0.4 percent, to 12,672 today.

“U.S. equities didn’t have a great ending last week, and we’ve had a bit of a shocker out of Japan,” said Mike Lenhoff, chief strategist at Brewin Dolphin Securities Ltd. in London. “It indicates a loss of momentum in the underlying global economy, and potentially, in the earnings season that’s beginning now.”

In Japan, machinery orders, an indication of capital spending, fell 14.8 percent in May from the previous month, the Cabinet Office said, the biggest drop since 2001.

In a separate release, the Ministry of Finance said Japan’s current-account surplus was the smallest for the month of May since at least 1985. China Economy
In China, Premier Wen Jiabao said downward pressure on the economy is still “relatively large” and the government will increase fine-tuning of policies, the official Xinhua News Agency reported yesterday. The premier also pledged to “unswervingly” continue property controls, Xinhua said.

In the U.S., analyst estimates compiled by Bloomberg project a 1.8 percent decline in profit for S&P 500 companies in the second quarter, which would be the first year-over-year decrease since 2009. Revenue is projected to increase by 2.5 percent.

Bank of America, the country’s second-largest lender, lost 0.9 percent to $7.59 in Germany. Citigroup Inc. fell 0.6 percent to $26.19.

Alcoa dropped 0.6 percent to $8.68 in early New York trade, as it prepares to release results after the close today. The average estimate of analysts in a Bloomberg News survey showed the company’s second-quarter profit excluding one-time items may slump 81 percent.

Mastercard Inc. dropped 1 percent to $437.08 in Germany after UBS AG downgraded the shares to sell from neutral.

To contact the reporter on this story: Namitha Jagadeesh in London at njagadeesh@bloomberg.net

http://www.bloomberg.com/news/2012-0...ders-fall.html

[REO 54]

Fed officials favor QE3; Asian data signal drop in global demand....

"Japan's core machinery orders in May plunged 14.8 percent from April, with the key gauge of capital spending sinking far below analyst expectations of a 3.3 percent decline. That raised the risk that growth momentum in the world's No. 3 economy will stall if firms start to scale back investment."


http://www.reuters.com/article/2012/...86805Y20120709


....well that cinches it.2 dfferent MSM sources.

[Irons]

But...but...but The state run media says we're in the third year of fantastic economic recovery brought on by the brilliance of the annointed one.

Our dear leader himself!

[REO 54]

But...but...but The state run media says we're in the third year of fantastic economic recovery brought on by the brilliance of the annointed one.

Our dear leader himself!

It's truly amazing they can keep spewing that smoke and sunshine crap in light of all the economic evidence to the contrary.

[Irons]

It's truly amazing they can keep spewing that smoke and sunshine crap in light of all the economic evidence to the contrary.

Sadly we are the USSR we were warned about as children in the 1970's.

Propaganda worked for stalin, hitler and others and is working here.

Some of us just see it for what it is because we were warned to watch for it as kids. TPTB forgot about that.

[Meetzos]

Sadly we are the USSR we were warned about as children in the 1970's.

Propaganda worked for stalin, hitler and others and is working here.

Some of us just see it for what it is because we were warned to watch for it as kids. TPTB forgot about that.

They didn't forget they were told to ignore it.

[Irons]

They didn't forget they were told to ignore it.

Yeah and they can ignore it now, they have the voting majority enslaved through welfare so it doesn't matter anymore.