ALBERT EDWARDS: 'The Vice-Like Grip Of The Bear Will Soon Squeeze The Hope From Their Gasping, Broken Bodies'

businessinsider

Gee, tell us what you really think.

Edwards is particularly worried by the latest U.S. durable goods report:

But the metric which really stood out for me over recent weeks was a truly awful US durable goods report. For although the headline July data rose by over 4%, both mom and yoy, the core measure of new orders has slumped (core is capital goods orders excluding the volatile aircraft component). Core orders fell 4% in July mom and 6.2% yoy. July was not a one off. This is now the fourth month out of the last five that core new orders have fallen sharply and is entirely consistent with the rapidly deteriorating profits backdrop.

Here's a chart that supports ( kind of ) his opinion

businessinsider

Far be the case that I would support Obama, but this doesn't look like a doomsday chart to me ----yet.  Not a good time for the markets to roll over for Sir Barry Clusterf**k.