Welcome to the Hardcore Husky Forums. Folks who are well-known in Cyberland and not that dumb.
Durable Goods Orders Suffers Biggest YoY Decline Since COVID Lockdowns
EverettChris
Member Posts: 4,221
White kids with rich parents get Sugar Bowl trips though, so it’s all good.
The roller-coaster ride that is 'Durable Goods New Orders' continues this morning after the last six months of so have seen monthly swings higher and lower with no trend discernible whatsoever (especially noteworthy given yesterday's slump into contraction for the Manufacturing PMI) amid the on-again-off-again turmoils of Boeing's orders.
Preliminary March data showed a slightly better than expected 2.6% MoM rise (2.5% exp) in the headline orders print. However, thanks to the downward revisions, Durable goods orders are now down 2.2% YoY... the biggest YoY drop since the COVID lockdowns...
Comments
Roaring economy!
Dementia patient's administration focused on the big issues facing the American consumer. Like Buck, always looking out for the little people.
https://www.zerohedge.com/markets/bidens-ftc-blocks-85-billion-deal-between-michael-kors-coach-central-planners-target
Biden's FTC Blocks $8.5 Billion Deal Between Michael Kors & Coach As Central Planners Target FashionBY TYLER DURDENTUESDAY, APR 23, 2024 - 11:45 AM
President Joe Biden's antitrust enforcement has been on a deal-blocking crusade ahead of the presidential elections in November.
On Monday, the Federal Trade Commission targeted the fashion industry for the first time. It sued to block Tapestry's $8.5 billion acquisition of Capri Holdings, a deal that would combine Tapestry's Coach and Kate Spade brands with Capri's Michael Kors brand.
"If allowed, the deal would eliminate direct head-to-head competition between Tapestry's and Capri's brands. It would also give Tapestry a dominant share of the "accessible luxury" handbag market, a term coined by Tapestry to describe quality leather and craftsmanship handbags at an affordable price," FTC wrote in a statement.
US Sues to Block $8.5 Billion Tapestry-Capri Luxury Deal
The Biden administration is oddly concerned about luxury handbags at a time when inflation is reaccelerating and continues to decimate households nationwide. Many folks are plagued with an affordability crisis, such as barely affording gas at the pump, food at the supermarket, power bills, health insurance, rent, and multiple streaming platforms. Many have maxed out credit cards and drained personal savings to survive in the era of failed Bidenomics.
But for some reason, Biden and the radical leftists in the White House are more concerned about fashion...
"With the goal to become a serial acquirer, Tapestry seeks to acquire Capri to further entrench its stronghold in the fashion industry," Henry Liu, director of the FTC's competition bureau, said in a statement.
Liu continued, "This deal threatens to deprive consumers of the competition for affordable handbags, while hourly workers stand to lose the benefits of higher wages and more favorable workplace conditions."
FTC's move makes little sense, considering the federal agency has no issue with fashion behemoths like LVMH or Moët Hennessy Louis Vuitton SE, which owns 75 luxury brands across six sectors.
The Biden administration's decision to tackle the handbag market seems like a massive waste of time and taxpayer funds. If consumers want to spend money on overpriced made-in-China handbags, by all means, let them. Why not deal with anticompetitive activity in industries that are more relevant to the everyday lives of working poor Americans?
Just more of that free market capitalism that @HHusky pretends is running amok.
Who will think of the poor, oppressed luxury handbag consumers!! Biden, that’s who.