I cannot help but laugh at economists who refuse to see the economy is slowing dramatically, and somehow think manufacturing is going to lead the way to recovery. Check out this headline on Bloomberg prior to the durable goods report: Orders for Durable Goods in U.S. Probably Rebounded in June July 28 (Bloomberg) — Orders for durable goods probably increased in June for the sixth time in the past seven months, showing business spending is supporting the U.S. recovery, economists said before …

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Durable Goods Orders "Unexpectedly" Sink; How did Economists Blow the Call?