Manufacturing Activity Hits 10-Year Low

[applegrove]

Manufacturing Activity Hits 10-Year Low

January 3, 2020 at 12:27 pm EST By Taegan Goddard 99 Comments

https://politicalwire.com/2020/01/03/manufacturing-activity-hits-10-year-low/

"SNIP.....

The Institute of Supply Management’s index of manufacturing activity hit its lowest level since the end of the Great Recession, Axios reports.

“It shows worsening conditions for the U.S. manufacturing sector, which has been in contraction for five straight months, and reignites concerns about the trade war’s impact on the economy.”

......SNIP"

[calimary]

1. Indeed?

Is that the fabulous trump economy that’s never been better than right now?

[Wellstone ruled]

2. Blloomberg did a segment on this about two hours ago.

Let's just say,the on Air Talent did his level best to defend the Orange Anus. But the Facts running on the side bar was totally reverse.

We are in the weakest demand time of the year which does not help. My Guess Is,the Auto Sector gets slammed in the next ninety days.

Will be watching for layoffs hitting the Longshoreman Sectors. And the next group will be the Railroads. All that data only shows up in Corporate Filings.

[duforsure]

3. Many indicators are showing signs

Trumps policies are driving us into a bad recession or worse . Very similar to policies that caused the Great Depression too in the twenties. His lies promoting the opposite simply don't add up. I suspect they've pressuring others to falsely produce good numbers, just like he falsely accused President Obama of doing. His supporters who believed his economic propaganda are waking up to all his lies now , and to the reality he's a con man , and a failure in business.

[SWBTATTReg]

4. Only success rump has had was in reducing his own taxes, and that's it. Tax policies implemented...

with the passing of the 2017 tax cut and jobs bill is concentrating more and more wealth into the hands of the top 10% of this country, who don't spend near what the bottom 90% of us do. And for the 90% of us, steadily increasing inflation and cost of goods means lesser pay in our pockets to spend, less money to spend on consumer goods.

Thus, businesses have no choice but to cut investments, cut employment, etc. in order to maintain their rosy forecasts. Won't work. Can't cut more when you are already cut to the bone, especially when they got such a bumper crop of tax reductions with the 2017 tax cuts (that failed miserably in enticing economic growth as was originally projected by the republicans, again, failed miserably).

Ever higher stock market prices aren't doing a damn thing for most anybody else but the 10% of those who already have most of the stock. They (the 10%ers) are finding out that markets for selling their high priced stock is severely limited to those who own other high priced stock.

Eventually, this process runs into a dead end, when the mechanics of making profits (net income) gets harder and harder and the less than rosy numbers are getting harder and harder to ignore, especially being that this economy is mostly driven by consumers and not stock market prices, especially high stock market prices.