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Industrial Production Plunges By Most In 5 Years (Biggest Miss In 3 Years)
Uh-oh. While soft-survey-driven data shows sentiment rebounding after Americans hibernation, it appears the hard data on what they are actually producing - now that weather is behind us - is dismal. Industrial Production slumped by 0.6% - its biggest miss since April 2011 - after its March rebound. This drop is the lowest since June 2009... and this is after the post-weather rebound... Still wondering why bond yields are collapsing? Don't trust the signals of the bond market - stick with believing in the analysts - 80 out of 81 economists thought industrial production would have done something better in April.
What a mess - the bounce in March has been completely destroyed...
We guess all that channel-stuffing exuberance had to end at some point
Only Ashworth and Dales of Capital Economics "nailed the IP number" with the other 80 "qualified economists" missing expectations
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But look at the S&P.
Clearly everything is fixed*.
*I will let you decide what fixed means in this instance.
Anomolous data.
("Don't interrupt my story, kid.")
FBI Launches Full Investigation Into Bundy Ranch Supporters
http://benswann.com/video-fbi-launches-full-investigation-into-bundy-ranch-supporters/?utm_source=newsletter&utm_medium=text&utm_campaign=nl
Bunkersville, Nev., May 14, 2014- The FBI has launched a full investigation into “death threats, intimidation, and possible weapons violations,” relating to the standoff between the Bureau of Land Management and Bundy Ranch supporters, according to 8 News Now out of Las Vegas.
The first people to be interviewed by FBI agents were Metro Police and Sheriff Doug Gillispie.
According to News 8 Now, the Metro Police claim to have intervened to “protect the lives of federal employees from the 400 or so Bundy supports and armed militia members.”
Harry Reid sending in the Gestapo, look folks our Modern day Hitler has revealed himself.
Paradigm Shift, incoming.
I thought industry doesn't matter in this Federal Reserve bizzaro world of financializtion?
All they needed to do was print money and buy stocks?
Perhaps this dismal number can be blamed on good weather? They closed the factories and hit the golf courses?
Is this what "grinding to a halt" looks like, or is this "limping along"? When does the market spike in response?
The sheeple will ignore all bad news as long as the FED has their backs.
What the heck is the deal with the outlandish "Empire State Manufacturing#?"
USD NY Empire State Manufacturing Index (19.01) 5.00 1.29
France says we have 500 days to fix the weather. Holy shit, somebody do something!
Well we know we aren't making Rocket Engines, that is for sure.
pods
Looks like we're going to have to invade Germany again and grab some scientists.
Don't need any stinging production we have the Federal Reserve that can print 10s of trillions. Zimbabwe is where it's at.
"Summa 'a Rekovry."
If there was a March bounce?
Come on Tylers, at least be consistent. When reports are better than expected you parse the data, looking closer at *why* the headline number isn't the real story (e.g., inventories giving GDP a boost, "birth-death" giving employment a boost). Why should a negative industrial report be any different? Notice that the -0.6 was due, in very large part, to a -5.3 for utilities (aka mild Spring weather). And while the index is down -0.6, it remains above 100 indicating modest growth.
I'm sure I'll get slammed, but truthiness is not to be compromised.
I would agree with you if you insisted on defining numbers. Do you truly believe unemployment at 6% unencumbered by ancillary minor things like walk a ways. Or the incredibly bad counting authenticated concerning our youth?
The markets have begun a massive move down because our Mystery buyer of our Paper is well known. We're out of time. No assembling of "Facts" will help. We will now pay for not immediately getting industrial production in place not just assembly. Japan learned that in 1946 under Deming, Korea picked it up later. China under Deng followed along. Now mexico is the prize.
We will learn what we knew from 1870-1960's and forgot
Well, one ecomomist will likely get fired. That's what I get out the article anyway.
What they are calling Industrial production today is mostly assembly anyway. Our country has been weeded out of the heavy Industry production not, in the last ten years, by wages. Those have considerably equalized. The real reason lies directly in our Socialistic Government that allowed the last wave of industry new placement to go to Mexico!! Look at their GDP! Honeywell, Goodrich, GE, GM and many others domestic and Europe!
Our President passed EPA regulation one right after the other to keep them out and mostly by Executive Order and he knew exactly what he was doing. Do your homework!
I'm sure Joe Lavorgna will see this as a sign that he should revise his Q2 GDP projection upwards.
In Central Texas this morning it was 51 degrees Farenheit. Industrial production has slowed to a crawl.
Plus, it's currently raining where I'm located