16 votes

Rick Santelli: GDP Numbers 'Depressingly Weak'

Marketwatch: Second-Quarter U.S. Growth Cut to 1.3% - Slower increases in consumer spending, business investment cited


CNBC Reports: New durable goods orders in August fell by the most since the recession and a separate reading on the broader U.S. economy came in much weaker than expected. But weekly jobless claims sank to a two-month low, in a hopeful sign for the labor market.

New orders for long-lasting U.S. manufactured goods in August fell by the most in 3 1/2 years, pointing to a sharp slowdown in factory activity even as a gauge of planned business spending rebounded.

The Commerce Department said on Thursday durable goods orders dived 13.2 percent, the largest drop since January 2009, when the economy was in the throes of a recession. Orders for July were revised down to show a 3.3 percent increase instead of the previously reported 4.1 percent gain.

Continue at CNBC

Trending on the Web

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.

Welp I guess this means a "new movement" is on the horizon

because Santelli sure knows how to start some stuff. /s

Wonder what they'll call it this time? The DeWea Party?

Freedom is not: doing everything you want to.
Freedom is: not having to do what you don't want to do.
~ Joyce Meyer


buy silver, gold, platinum and paladium.... we need the money votes on our side once the storm comes

A true flower can not blossom without sunlight and a true man can not live without love.

Santelli is smart and for real

I saw his 'teaparty' rant live at the bank when I was getting some free coffee - liked him before that, loved him after, knew I had just witnessed something HUGE.

A rare voice of reason on CNBC.

Defeat the panda-industrial complex

I am dusk icon. anagram me.

I believe they are following

I believe they are following Austrian economist, John Williams. He has a website called shadowstats.com. He's THE economist Fortune 500 companies look to to know what's really going on. He uses the old formulas to give the true numbers as opposed to the "pretty" suped-up ones to cover up the truth. Everytime he makes a post, the markets react. He put out some numbers on the 27th. You're right; Rick Santelli is smart. The smart ones pay attention to the truth.

SteveMT's picture

Final Q2 GDP Disaster: 1.25% Growth

Just the facts ma'am, just the facts:

Final Q2 GDP Disaster: 1.25% Growth Comes Below Lowest Estimate

Q4 2011: 4.1%; Q1 2012: 2.0%; Q2 2012: 1.25%.
Q2 GDP print coming in at a ridiculously low 1.25% (rounded up to 1.3%)


Michael Nystrom's picture

Watch the Dow

This is the key to the election.

I know everyone thinks that Obama's got it all locked up, but 40 days is still an eternity, and I think it will all come down to the Dow:


Above 13,500, Obama wins, below, Romney wins.

He's the man.

With the specialists pumping in the money...

they can manipulate the DOW level anywhere they wish. These institutional buyers are putting in HUGE money every morning at the open to keep things propped-up. Rather than watching the DOW, I would humbley suggest watching a stochastic of GS. Remember the old saying, "as goes Goldman Sachs, so goes the market".

Silence isn't always golden....sometimes it's yellow.

"The liberties of a people never were, nor ever will be, secure, when the transactions of their rulers may be concealed from them." - Patrick Henry


All that matters is how the DOW is days before the election. Who cares about what led up to it? Ya know how Obomney would still be following the same monetary policy and all...