Written by: Beck

The latest numbers on the economy illustrate yet again why the Kerry campaign has completely dropped the economy as an issue. Considering the number of negatives working against the economy (fighting two wars, massive expansion of the bureaucracy, 9/11, waves of bankruptcies and corporate scandals), it's frankly astonishing that things keep bumping along so well. The big news:

The Commerce Department said Friday that US orders for big-ticket "durable goods" jumped by a surprisingly strong 3.4 percent in March after an upwardly revised 3.8 percent gain in February.

The reported orders for long-lasting items such as airplanes, cars and washing machines shattered Wall Street estimates for a 0.7 percent rise and suggested the US factory sector is stronger than believed.

These numbers are so huge (and, more importantly, unexpected) that talking heads all over Wall Street have had to put on their Emergency Back-up Pants.

"The economy is now firing on all cylinders. Consumers are spending, business investment is ramping up, exports are rising and inventories are being rebuilt," said Sung Won Sohn, chief economist at Wells Fargo Bank, pegging first-quarter economic growth at five percent.

Citigroup currency strategist TJ Marta called the report "explosive" and said it "could put upward pressure on US interest rates," thus supporting the dollar.

Better get those houses refinanced now. Last chance 'til 2009.