Manufacturing in the U.S. unexpectedly contracted in June for the first time in almost three years, indicating a mainstay of the U.S. expansion may be faltering.The Institute for Supply Management’s manufacturing index fell to 49.7, worse than the most-pessimistic forecast in a Bloomberg News survey, from 53.5 in May, the Tempe, Arizona- based group’s report showed today. Figures less than 50 signal contraction. The median forecast in the Bloomberg survey called for a decline to 52.
More: This Week In Purgatory.
Don't worry. The Zero and SCOTUS hace it all figured out.The Obambam(notcare) Bill is a great stimulus.After all,it ain't a tax,even though the argument it was got it approved by SCOTUS. So when is a tax not a tax
Bary's friends at NBC/CBS/ABC/CNN will not report this and will do their very betsy to protect his 6.
It is amazing he still has the support he has. If the MSM turns on him before November, he'll be gone.
Wanna bet the giant power outage will come and go without a hint of Barry blame . . . But they might dig up Bush Katrina stories that they'll tie to Romney.
"China’s goods producers reported an eighth successive month-on-month deterioration in operating conditions during June, as output, incoming new orders and employment continued to decrease."
http://www.tradingeconomics.com/china/gdp-growth
If China goes into recession, we are so screwed.
There was nothing unexpected about it. Growth in US consumer spending was mostly in durables late in 2011 and early 2012. Obviously that wasn't going to continue. After all, how many refrigerators do you need? So this slowdown is taking place exactly as expected.
Maxed Out Mama is right, the recent rise in construction doesn't mean very much. Remember at what a low level it's at right now from the peaks in 2006-7. So it's nothing more than a dead-cat bounce.
"This week we have the monthly employment report and car sales. A lot depends on car sales! "
So, de gub'mint can give every kid a down payment for a nice new car, just like they did with housing! Should improve the sales of Volt and Prius and other green vehicles(extreme sarcasm) ,if nothing else.
They just have to make it THE LAW!
Unexpectedly!!!!!!!!!!!!!!!!!!!!
There is no amount of pain, suffering, torment, anguish, misery, degradation, disgrace and humiliation, that can adequately punish Americans for having elected this toy President.
The only bright spot is that the young voters are coming to realize that they threw their lives and futures away for a bumper sticker slogan.
Their only "Hope" is to die painlessly.
And soon.
D O
"that they threw their lives and futures away for a bumper sticker slogan."
that they threw their lives and futures away for a bumper sticker PRESIDENT.
there, fixed that for you:-))))
You'd think by now that the MFM would expect the unexpected from The Two Gun Kid-Kardashian regime.
I read a few days ago in the WSJ that some of China's trade partners-especially Japan-are getting paid in Yuan NOT USD. That would mean they are shifting reserves to USD. Words can hardly describe the tumult of the USD losing reserve status.
Reader Tip:
The share price of General Motors closed at $19.57. The stock has only been priced lower twice in the past five years.
http://www.google.com/finance?cid=14676476
Who would have expected that?
In related news, GM-Brazil is planning layoffs. Seems the BRIC boom is coming to an end.
LAS-
They're running out of dollars, and other like items.
Fewer buyers of their goods.
I work for a US company, and yes, things are not looking good once again. There is a definite slowdown in the economy. At best the economy is coasting, and has been for a *long* time.
Many in the US, at least the people I know, are sick to death of Obama at this point. They are not even listening to the news and spin anymore, their minds are made up, and are just patiently waiting for November to turf him
In my view there has never been a worse president in US history, no matter which way you analyze him and no matter what metric you use.
TJ, are you in the US? Whereabouts? If not, where are the people you know? I hope you are correct but the polls are not encouraging. I hear a poll and cannot for the life of me fathom how someone couldn't see the writing on the wall and would still vote for him. I am clinging to the Dick Morris polling theory to get sleep at night.
TJ 11:20 p.m. --
I'm heartened by your view to be sure, but I'm pretty certain you need a few more yet on your team, which, sadly, you're likely not going to get with the burgeoning GOP "diffusion" strategy of the past week. The Republicans' antics on health care and Fast and Furious have more closely resembled something that falls on the spectrum between the Keystone Cops and the history of the Progressive Conservative Party of Canada (the latter of whose fate I'm praying -- and I mean praying -- that American business doesn't meet).
I'd suggest something radical for the GOP: focus on the economy. In fact, I have a practical suggestion: why not grab the Warren Buffett quote from two or three weeks back and put it in an ad:
"America is not likely to slip back into recession." (or words to that effect; subject to check.)
What more arrogantly condescending, disingenuous and, at the same time, clueless statement could there be from a wealthy, prominent Obama schill who likes to pass himself off as a sort of folksy, "popular mechanics" kind of investment tycoon?
In case anyone doesn't get it, the hidden message of Buffett's statement is that America actually came out of recession on Obama's watch -- try telling that one to the middle class and the unemployed who put their faith in people like Obama and Buffett.
In fact, the voice-over caption could channel Kate:
"Who you gonna' believe, Warren Buffet, or your lyin' eyes?"
I read the Economist for a world view of what is happening. Naturally a lot of ink on USA news. A left wing baise at play as any hint of economic uptick is trumpeted as an Obama break through. Any debate between Republicans is divisive and signs of disunity.
Unfortunately, other than Ron Paul, little talk of what it will take to actually cure the economic problem of international debt and the size of government.
One would hope that some steps to get the US economy going would be fairly apparent. The first is the creation of a pro-business climate (and I don't mean a pro-banking climate). Send the heads of the EPA, FDA etc. to Guantanamo for wrecking (economic sabotage) (the US being what it is this would be done symbolically, but one can dream). Reduce the staffs of said agencies by 2/3. Throw out all regulations introduced in the Bambi administration.
That at least sends a message. How effective overall is a good question. There is much more wrong with Bambi America than Bambi and his henchmen and his night hags themselves.
Once the above is done perhaps the best thing to do is - nothing. I am convinced that the American genius for business and for innovation is anything but dead. Leave it alone and let it thrive.
As for a bit of depression, Mark Steyn's latest opinion piece is relevant:
Gradus ad Narcissum
http://www.steynonline.com/5033/gradus-ad-narcissum
David Goldman's dislike of popular music is deeply rooted in its anti religious and ultimately demonic nature, by the way.
He would view an engineer who plays Bach as someone who is attempting some sort of connection with God, and through God with reality;
an engineer who listens to rap as someone who has chosen "the path of death", as the Didache would say.