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Chicago PMI Prints Worst June Since 2008 As Employment Tumbles
Chicago PMI has now missed 4 of the last 5 months and printed sub-50 contractionary indications for 4 of the last 5 months. June's data improved from May (rising from 46.2 to 49.4) but missed expectations and is the weakest June print since 2008. Notably, away from 2015, June's print is the weakest since September 2009. Under the covers it was ugly - employment plunged to the weakest since Nov 2009, order backlogs plunges to the lowest since September 2009, and prices paid rose again (pressuring margins).
June's print is the weakest June since 2008!
Charts: Bloomberg
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Need new energy centers
https://www.youtube.com/channel/UC24i0-R52E-Y4PHhsjLUbYg
Keynesians call this the Grab Yer Ankles phase of the economic cycle.
The Kenyan in the white house would like for us to grab our ankles too.
The Kenyan prefers the ankle grabbing position himself.
And in ~16 months, we'll be grabbing our Cankles...
This is like reporting an ingrown nail when you have this massive debt astroid about to strike and destroy life as we, not they, know it.
Need new energy centers https://www.youtube.com/channel/UC24i0-R52E-Y4PHhsjLUbYg
Need new energy centers https://www.youtube.com/channel/UC24i0-R52E-Y4PHhsjLUbYg
enough, already.
Damn Greeks fucking up our roaring eCONomy. Why just this morning I was watching teevee and the cute blonde on CNBC was telling me how strong the CONsumer is. And if a blond says it, it must be true right?
The cute blonde had a synapse meltdown when she was trying to arrange M&M's alphabetically. It was an ugly scene.
"Global. debt crisis now in overdrive! Spreading like wildfire!"
Shaking out the weak hands in Wall Street parlance...move along.
It's all a matter of optics and in a pitch black room there are no problems.......
The cute blond gender identifies as a hermaphrodite penguin. Another illusion.
The economy is overheating!
Time to raise those interest rates...
Rates can only go higher from here.
That's just a fact...one that has been empirically true ever since taper.
Personally, I blame the weather.
i live in the midwest. and when it wasnt raining, it was rather hot. which brought the storms....which cooled things down. thats the excuse. can i get my Econ PhD from Princeton and my 280K salary from GS now?
We all die in the long run. I'd say 43.5 years of complete fiat horseshit was a nice long run.
No need to worry. Next weeks desperation "back to school sales" will be starting. That will give the economy a boost.
But what if it rains on Tuesday?
Along with the Greeks, a Federal Reserve board member could not ask for a better foil.
Is everyone looking at the criminal behavior taking place at the CME? This is Jim Demon and his friends at their best. Along with that, I hope everyone has read that the Kenyan released thousands of illegals criminals to maim and kill Americans. When you want to end this? How about we start today taking our country back?
Hurry, raise rates. Restore faith in the system.
All numbers are bullshit. Now bring on QE4ever. The Chinese have just begun to print, and if the FED is anything like the BoJ they have at least 20 years left. The papering over I fear is only in about the third inning.
How can the economy possibly grow with stagnant/falling wages, high unemployment coupled with anemic job growth (>90% of “new” jobs are temp positions- minimum wage, few benefits, zero job security)? The average college student is graduating with $30K in debt and moving back home with mom and dad. Companies are keeping stock prices up with stock buy-backs using ultra cheap money, supplied by taxpayers, rather than investing in new plants and equipment, which generates new jobs. This is not how a healthy economy functions. More on PMI see: www.businessinsider.com/chicago-pmi-june-2015-6
And yet CONsumer CONfidence is UP! Riiiiiiiiiiiiiiiiiiiiiiiiiiiiiiigggggggggggggggghhhhhhhhhhhhhhhttttttttttt!!!!!!!
I suppose unless you were born and raised there, why live in that cesspool?