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Empire Manufacturing Contracts For 5th Month As Workweek Crashes Near Record Lows
While Empire Fed Manufacturing survey modestly beat expectations (-4.6 vs -7 exp), it has been in contraction for 5 straght months. The biggest driver of the 'beat' was a massive surge in 'hope' (six month outlook surged from 20 to 38.5 - its biggest percentage gain since Nov 2011). At the same time as hope soars, employment tumbles to 6 year lows and average workweek collapses to its lowest since the peak of the crisis in 2009.
5th straight month of contraction...
As Hope surges and Average workweek collapses...
And Employment hits 6 year lows...
Time to raise rates!!
Charts: Bloomberg
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"We need a Hope Czar!" - Harry Reid
Hah haha ha ha... That's top of Harry's wish list.
I hope I don't get another tune-up.
Harry Reid makes Bathroom scum look appealing.
Larry Reid (Harry's brother) needs to beat Harry up again.
That would teach Harry to keep his mouth shut.
Harry Reid got what he deserved.
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Remember as we see Fed buying of SP500 futures this morning, that we have unlimited money. As long as we remain unaudited, we can get away with pretty much anything we want.
Despite the fact that most stocks are declining, as long as we prop-up the main indexes, we will have accomplished our mandate to keep the facade alive until the end of this presidency.
Then we will let the market drop a bit (aka, spin and rinse) before our next injection of trillions of prop. Enjoy risk free investing compliments of the Fed!!!
Aint Fiat Great!!!
Why is every Fed meeting a "historic" meeting?
Sorta been like a small Muzzzie kid realizing he swallowed a piece of ham. Lotta noise but nothing to worry about one way or the other.
The next president, even though him/her officially has nothing to do with the economy, gets tied to the economy. The president favored by the banks will get the most "cover".
Under fiat currency man has gone to the moon, invented the Internet and increased life expectancy by 30 years since 1913.
Got fiat?
PL and engaged in endless wars and killed 100's of millions (if not more) people.
Even enriched a few beyond anyones comprehension.
Got serf?
I see BTFD still holding true, Everyone up ~2% (as of 13:47 BST)
Mostly people are retards so what's the use of these polls?
Workweek crashes?
No way, just more people taking up their dreams of becoming a potter.
pods
Personally, I'm training to be a cainer (a person who makes walking canes) and a tanner. Double major.
I hope I don't have to go to work.
I'm waiting for somebody to walk onto TV and say "Obama's doing a good job on the economy". I remember hearing that when Clinton was president. It made me realize how hopeless the situation in the US really is. Update your passports, folks.
definitely a trend upstate NY of lower average work weeks and thus, lower weekly earnings.
-4.6 isn't a "modest beat" over -7, Zero Hedge. Do I need to teach you math?
Had those figures been reversed and it was -7 versus an expected -4.6, Zero Hedge would have been gloating about the "huge miss."
Hard to fathom this kind of contraction happening this time of year under the superb leadership of Barack Hussein.
Relax NY needs Billions of man hours to clean up the closed nuclear reactors upstate.
its not hope..its prayer....and remember its the Holiday Season..lots of Christmas parties...so probably the guy doing the number guessing was still drunk....and just slept with his secretary...
This damn weather really is causing havoc with employment. http://www.accuweather.com/en/weather-news/record-high-temperatures-warm...
So has any candidate come out and say what a sham the figures are yet, or has the 'media' bannished them to hell!? Dont have teevee so im outta teh loop.
Next thing you know, they'll tell us a mild winter is bad for the economy.