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Richmond Fed Manufacturing Collapses To 2015 Lows, Drops Most In 9 Years
The 3-month bounce in the Richmond Fed Manufacturing survey... is dead. From 13 in July, August saw it collapse to 0 (massivley missing expectations of a 10 print). This is the biggest absolute drop in the index since May 2006. Across the board, underlying factors crashed with Shipments plunging, New Orders cliff-diving, order backlogs disappearing and Capacity Utilization plunging. This is exactly what we would expect after a massive inventory build up that was not accompanied by a surge in sales... but the pundits stil proclaim "no signs of an imminent US recession."
Manufacturing collapses...
The biggest drop in Order Backlogs in history...
Charts: Bloomberg
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so?
Inventory...................to much
Dead Cat Bounce.
Stock market is going lower. It's clear as crystal now.
I have sirius/xm in my car, was listening to it on the way in, had CNBC on. Jim Cramer piped up and picked a stock. I forget which one, a fairly well-known company, doesn't matter which. He literally said these words, "I'm confident about this stock because they've got the strongest buyback program out there....it'll never go down because they'll buyback to keep the price up."
I've been on ZH for a few years now, so the game is obvious to me. However it was stunning to hear this admission so plainly stated on air. He was straight-out-admitting that we do not have a market.
And, he wasn't talking about Apple.
Deja vu all over again. This time no bail out for the system.
Deflation just a hair trigger away.
When you're in a depression, it's hard to see the hopeful signs of an upcoming recession.
It could be worse, we could be communists.
If we really got to test your theory - if we really got the chance to be true communists - I'd take that chance. It HAS GOT TO BE better than this winner-take-all system.
BI apparently got ahold of Ray Dalio letter that says he thinks the Fed will go QE4.
http://www.businessinsider.com/ray-dalio-sees-another-around-of-qe-2015-8
Or they could have simply read ZH yesterday...
http://www.zerohedge.com/news/2015-08-24/forget-rate-hikes-bridgewater-s...
Well poop on me...i even did a quick search and missed it. Thought it was a rare event BI would scoop ZH...and they didnt.
As soon as you said "Business Insider"...
It used to be a good site right after 2008. Then it went all HufPo-ey about 3 years ago.
Then I started reading Zerohedge. =)
The site also is notorious for its subtle racism.
Recessions no longer cause market drops. Market drops now cause recessions. Tail wags the dog when 100% of everything is financialized.
Bullish. Bad news is good. QE4-evah.
Silver moving down
Gold moving faster
Bullshit moving fastest.
Is there a worthless paper manufacturing index?
......but there is high consumer confidence?
the problem is inventories are harder to fake in businesses with concentration like autos - too easy to count separately the parts of the whole
I'm have been doing my part this year to massively save up my income, live like as a miser and remain in zero debt. Screw this rotten system, I want to see it burn to the ground.
When shit hits the bubble fan, it would be SPECTACULAR
It's a Ferengi economy. Everybody screws everybody.
A bankers paradise.
At least we have no inflation, rising wages and consumer credit at under 10%. America is about to take off just as soon as it can offshore some more jobs.
Ask me if I care?