More Keynesian Tommyrot——-Today’s Punk Durables Report Showed CapEx Is Heading Down, Not Up

Thursday’s durable goods report for August brought more evidence that the US economy is stumbling toward recession, and that the Fed’s massive money printing campaign has been an abysmal failure. To wit, shipments of so-called core CapEx (nondefense capital goods less aircraft) were down 2.5% from prior year, confirming that last summer’s spurt of shipments is rolling-over on pace […]