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Empire Fed Slides, Misses As New Orders Tumble And Hope Collapses
Following January's bounce back from December's collapse to 2-year lows, Empire Fed fell back modestly in Feb. Against expectations of a small drop to 8.00 (from 9.95), it printed 7.78 - basically flat now for 2 years. Under the hood things are a lot more concerning as New Orders tumbled from 6.09 to 1.22 and number of employees slipped from 13.68 to 10.11. What is perhaps the most concerning for the ever-hopeful multiple expanding dreams of equity market wealth, future business expectations collapsed from 48.35 to 25.58 - the biggest drop since Jan 09 (along with a plunge in expected workweek from 11.58 to 1.22).
Empire Fed has gone nowhere in 2 years...
As "hope" collapse at its fastest pace since Jan 09...
Firms Less Optimistic
Indexes assessing the six-month outlook, though generally positive, conveyed considerably less optimism about future business activity than in recent months. The index for future general business conditions plunged twenty-three points to 25.6, its lowest level in more than two years. The future new orders and shipments indexes also posted significant declines. The future prices paid index fell several points to 27.0, and the future prices received index declined ten points to 5.6, its lowest level in more than five years. The index for expected number of employees, though lower, remained positive at 24.7. The capital expenditures index surged eighteen points to 32.6, its highest level in more than three years, and the technology spending index rose to 19.1.
Margin collapse
Empire Fed future prices received declined ten points to 5.6, its lowest level in more than five years
Charts: Bloomberg
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Sadly the CB's still control the narrative.
I read six MSM financial stories this morning and five of them contained the word "hope".
< The sixth used 'pray'. :-) >
/sarc
The "truth" is what they want it ti be -- reality is an unimportant matter!
"Empire Fed future prices received declined ten points to 5.6, its lowest level in more than five years"
The take away: "Future" = not so much...
New Orders tumbled from 6.09 to 1.22
Well....that seems like a lot.
Hope-n-change, baby. Hope n frick'n change!!! Socialisim is on it's way to make all but the government connected poor and take care of you becasue Dear Leader knows that you are too stupid to take care of yourself.
Hope & Change was nothing but Hoax & Chains
And Steve, the goat working on the peanut butter assembly line, screams again.
The Big Picture is that Kaspersky Labs reported that someone, almost certainly the NSA, has hacked the firmware of all the hard drives made by WD, Seagate and all other American hard drive manufacturers. The massive push to plant viruses in hard drive firmware in foreign countries took off just as Obama became president. The USA is now operating no differently than those hackers who robbed anywhere from $300 million to $1 billion from banks. Maybe those bank robber hackers were also on the NSA payroll, doing a side job. That Obama unabashedly approves and encourages the criminal wiretapping behavior of the NSA, the DEA and the Justice Department indicates that Obama is the real world equivalent of a Manchurian Candidate. The question is, who is this muppet's master. Judging from Obama's total support of IS (al Qaeda) murderers, his master is Saudi Arabia. Too bad for the USA and the Empire Fed.
I found it interesting the story lacked any significant discussion regarding whether or not the NSA dropped the same firmware infection into hard drives used in computers destined for the USA.
Hmmmmmmm
"Obama is the real world equivalent of a Manchurian Candidate. The question is, who is this muppet's master. Judging from Obama's total support of IS (al Qaeda) murderers, his master is Saudi Arabia."
Given that Kenyan Muslims of his homeland, Indonesian Muslims of his youth and Saudi Muslims involved in financing his college education are primarily Sunni that's clearly the way to bet. But it doesn't explain his fetish for allowing Shiite Iranian mullahs, the bitter enemies of the foregoing, every chance to develop nuclear weapons. Perhaps he's the self-hating sort who wishes to see all the degenerate groups of his past exterminate each other.
Everything is AWESOME always! (tm)
By law. Or go to jail.
As you know, my dear Pangloss, markets always rise, and all well in this, the best of all possible worlds.
C
Atlanta today is a good example of how employees feel about their jobs after years of being downsized, underpaid, and generally treated like shit if they are not in the executive suite.
Yesterday evening there was an ice storm here that hit the NE suburbs. There are still problems in that area. The roads elsewhere are fine (no ice). But no one is out on the interstate anywhere around town, because people have been so badly treated by their employers, that they will now stay home if they have the slightest excuse.
You don't have a clue about running a business and employers. The businesses that succeed (in a free market economy) are the ones who treat their employees well and have productive employees. All but a very few employers understand this. When the GOVERNMENT comes in and strangles employers with outrageous regulations, paperwork, and hoops to jump through the employer has to get that money from somewhere by reducing regular business costs in order to pay for government mandated costs. Employees suffer with lower pay and often times poorer working conditions, thanks to the government. More than likely you simply have a bad attitude and no reasonable employer would want you working for them because you will never be satisfied with ANY employer. You try to convince all of the happy employees how "bad" things are. Get a life. Working for companies (at least for now until the government makes it law) is VOLUNTARY. If you don't like your employer work somewhere else. If you can't find the job that you want improve yourself so that you can get the job that you want (no, not with a seven year four year degree in poetry analysis). If you can't do that go work for yourself. Oh, that would totally suck because you'd be your own employer - therefore you'd have to HATE yourself.
When hardly anyone is out on the roads going to work in a city of 6 million people, it is somehow a fault of my attitude? Gee I never knew i had such a major impact on others. :-D.
And I suspect you might be one of those bad employers, as its the governments fault that you can't pay people well (meanwhile I am sure you don't cut your own pay). Just go on blaming anyone and everything other than yourself.
Ummmm... It's called ice on the roads. I'm relatively sure you even mentioned that. You can reread your post if you forgot.
And, no, I don't employ anyone although I have a lot of of people who work for me and they are all happy. Yes, I got rid of the one with the bad attitude who was trying to convince people that good jobs suck. He actually worked harder at avoiding doing work than he would have had to work at doing his job (white collar job, by the way). Maybe that was you! LOL!!!
"What difference at this point does it make now?"
Seriously, the print could come out negative across the board and a happy face would be painted on it. The un-fed would say it was expected and this is sure indication that the "market" is firming up!
The Bullshit is not bullshit in their minds!
FUBAR!
Looks like we're gonna have to sell some gold...
Selling gold aways works...
With record accumulation around the world...you have to ask yourself....who's selling all that gold and where are they getting it?
Alchemy, without a doubt.
However, I believe it is bad form to wear "Bearer Is Entitled To xxxx" for your wedding tresses in India.
"The Recovery"
C'mon...the only thing to do is to BTFD.
No BTFAH...BTFD...BUY PRINT BUY PRINT....all fun and games to the mania collaspes
Recessionary....
A US Federal Reserve production. Endless printing and bubble-making.
Guys, settle down, it's obviously just the polar vortex again.
Silver getting bitch slapped
https://www.tradingview.com/x/YYUWF8Tj/
Steve LIESman: "This just doesn't make any sense, the fundamentals are strong"
Kenya - the Obama banana republic rules
that should be good for 19000 on DOW today