I have been on a number of major financial news sites this morning and have yet to see anyone making a big deal about just out trade disaster data today.
We had this on the line well ahead of the open for our Peoplenomics.com subscribers but check this out:
“Advance International Trade in Goods
The international trade deficit was $96.3 billion in September, up $8.1 billion from $88.2 billion in August. Exports of
goods for September were $142.2 billion, $7.0 billion less than August exports. Imports of goods for September
were $238.4 billion, $1.1 billion more than August imports…”
And it’s really worse…because who knows how the accounting is rigged for the slower-than-last-year’s cargo handling at Los Angeles and Long Beach. This is what happens when outfits like the Circle B don’t push out as many airplanes…we’re sliding into Third World numbers faster than admitted.
Back to point, are we crazy – thinking our debt to other nation’s matters – or is the financial press complicit in passing out financial quackery?
Maybe when all the rich guys unload on the public we will get some long-overdue downside. Oh, treasury yields are down, too. To 1.562 which is down more than 3-1/2 percent for the day. So far, only MarketWatch seems honest enough to report U.S. trade deficit in goods soars 9.2% in September to record high of $96.3 billion.
Am I in a different reality, or something?
Inquiring minds, yada yada