Global Manufacturing Collapses To Worst Levels Since Mid-2009, Markets "Shrug It Off"

Tyler Durden's picture

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.
Mongo's picture

Green shoots going brown

Setarcos's picture

Brown!?

How about black?

westboundnup's picture

Remember the feeling of impending dread that you had in the late summer of 2007 when the housing market turned and you knew something bad was coming?  I'm having that same exact feeling now.   

Sudden Debt's picture

I remember those days pretty well. I was one of the first who was talking about a comming economic crisis back than (it was already happening for 4 months so it's not like I was that fast :) )

All our shareholders back than could figure out that it was bad managment so we started dropping like flies. Out of 42 managers me and 2 other guys are the only onces left from that time. the reason why they didn't fire me back then was because it was to expensive to fire me. but they tried more than once to do so.

the most funny way was by promoting me and after 4 weeks accusing me of the reason for bad sales numbers... my lawyer had a fieldday with that one :)

After that legal tossing, the cost if they would fire me doubled because of harasments :) it went up to 6 years salary, so they left me alone and now I'm still here :) BUT believe me, loyalty to my boss = 0%. I work as less as possible and every question to ask me begins with a answer that sound like:

"OOOHHHH, that's not going to be easy and will be costly. And to be honest, I don't have that much time to...."

If it's something that doesn't really fit into my jobdescription = I need a raise or I won't do it and you can outsource it.

 

All I can think of right now is: PLEASE DON'T LET ALL THAT BULLSHIT START ALL OVER AGAIN!

At least now I know how to dig in my heels into the ground once it starts :)

 

cossack55's picture

Reminds me of the old Soviet worker maxim (now being adopted by US workers):

"We pretend to work and they pretend to pay us"

This is some great entertainment.

optimator's picture

"Stealing stuff from my factory?  Not stealing, they say we own everything."

nikku's picture

You sound like an excellent employee, and with great spelling skills too... I can see why they'd want to keep you so desperately...

bobert's picture

I gave you a green arrow.

It's nice to get to know you a bit.

The junkers here probably got pissed at what they perceive as your non-productivity.

Your job, my job, life in general is a bit of a game sometimes isn't it?

Sounds like your employer is getting what they deserve.

Having said that. The best to you as you find, as I'm sure you will, more productive employment in the future.

RemiG2010's picture

Welcome to Japan! Twenty years of misery have begun. As Munger says: "suck it in and cope baby" Get used to it.

Setarcos's picture

Me too .. and I am in that faux 'miracle' place called Australia, where actually everything is coming undone.

We (not I personally, except indirectly) have "had it good" because our sole main industry has been digging stuff out of the ground, cutting down forests and shipping stuff to Japan, China and wherever.

Our value-added industries were gutted back in the 1980s - familiar story?

I know exactly how you feel westboundup.

RunningMan's picture

Drums, drums in the deep.

GeneMarchbanks's picture

Foreplay now over can we please get back to the really important events, like the shape of the upcoming QE episode?

Status Quo... bitchez.

 

tallen's picture

Durr, it's transitory.

Sudden Debt's picture

 

 

BUILD MORE SANDCASTLES AT THE SHORELINE WHICH CREATE JOBS!

 

bobert's picture

Or perhaps, fill in the pot holes in our roads.

I don't care. Employ people picking up litter.

Best of all - lessen regulations and encourage people to start their own businesses.

Fantasy Planet's picture

We won't need zombie costumes for Halloween. 

Mentaliusanything's picture

The USA is safe as houses. They are rich because they just voted to borrow 2.whatthefuck Trillion minimum more.

Rich people can ride out a Depression.

They can - can't they????

 

Dr. Engali's picture

They sure are giddy on cnbc. You'd think somebody gave them a 2.8 trillion dollar gift or something.

poor fella's picture

Thanks for reminding me of the passing circus on cnbs. I was thinking of cartoons and realized Cramer is kind of Charlie Brownish. Somebody should send him the yellow sweater.

Vampyroteuthis infernalis's picture

The inevitable haunts our financial system. Contraction bitchez!!

Landrew's picture

We have never been out of recession in my city near Chicago! The city is bankrupt, young people have zero job options and those that are working have higher expenses reducing the volume of goods purchased not the total dollar amount purchased! Meanwhile, yet two more homes go vacant next to me!

weinerdog43's picture

Yet out here in the far western burbs, my 36 yo financial planner neighbor has undertaken his 3rd home renovation project since he moved in 2 years ago.  This house was in perfect shape when he bought it, but I guess because he's been watching Cramer and CNBC, he's feeling pretty flush right now.

I run into people like this all the time.  "Hey, everything's great!  Just leased a new Acura.  Got the kiddies in karate lessons.  Had a great Alaskan cruise last week.  Restaurants are full.  What are you talking about with this gloom and doom nonsense?"  

The propaganda is immensely strong. 

dervish's picture

it's getting more and more absurd. watching the news is like a daily freakshow in all aspects and people are in a state of ignorance, maybe never seen in human history

Bob's picture

Thank Beautiful Bill Clinton:

http://en.wikipedia.org/wiki/Telecommunications_Act_of_1996

Of course, Regan paved the way by eliminating the "Fairness Doctrine":

http://en.wikipedia.org/wiki/Fairness_Doctrine

Unfortunately, nobody has yet managed to eliminate the Law of Unintended Consequences.

dervish's picture

I'm from Germany, but we are not far away from the states regarding insanity. The best still was the Turkish Prime Minister Erdogan on Thursday: "Global Economic Crisis is returning very soon, but it will not even pass near us". Doh!!! It's becoming a who-can-babble-the-most-hilaroius-things-and-get-away-with-it-race

it wouldn't be tragic if those ppl were playing with monopoly-money and not with real peoples lifes and existinces

Chicago bear's picture

Service economy is growing. McDonalds is hiring. Subway franchises now outnumber McDs. It's all going to even out. Michelle is showing us some good eating examples by ordering apple slices. Markets will be ok.
/sarc off

TSA Thug's picture

Finally an optimist. Gesh everyone else here is sooo fatalistic, pessimistic, gloomy. Nice to see a positive post on the hedge. Thanks Chicago bear!

My supervisor said he just hired 2 new screeners. I don't know why but he's going to have them in the video control room. They are kinda hot females why hide them in the mushroom factory? There are more screeners in the mushroom factory than at the checkpoints!

Anyway we have an emergency meeting today at 10am. It looks like we have some new equipment that is being delivered and it's suppose to be top secret. Whatever. Do we really need a meeting for this?

I'll talk to you guys later. Ease up on your negative. Disparage causes cancer!

cossack55's picture

So do miilimeter-wave and backscatter scanners.

TSA Thug's picture

Yes, if you live in them. If not you're just making waves.

Todays surprise is coming from PNNL. It should be good. Might cause cancer if you live in it 24/7! If not don't be a dummy!

http://availabletechnologies.pnnl.gov/

GeneMarchbanks's picture

You! TSA thug... you! Are the cause of cancer.

TSA Thug's picture

Try it you ignoramus. Go ahead and try me! I will knock the stupid out of you.

GeneMarchbanks's picture

Truly though, you are the aids of society.

EvlTheCat's picture

It is nice to see The Bureaucracy is at least giving jobs to convicted pedophiles.  Everyone needs a second... third... fourth... fifth chance don't they TSA Thug?

TSA Thug's picture

Suspects like you are also given the chance to prove yourself.

Go.

EvlTheCat's picture

Hey, I was just keeping a positive outlook like you suggested.  I don't need to prove myself because I am a nobody.  I wouldn't even show up on your radar in real life.  People like me are the quiet kind of crazy, you may molest a thousand times over, then who blow and take out half a city block.  You know the kind of crazy that gives you the cold sweats in your sleep.

dearth vader's picture

Not to ignore France, which is on the brink of contraction too

The PMI for manufacturing fell from 52.5 in France in June to 50.5, its lowest since June 2009. The German PMI fell back considerably, from 54.6 in June to 52 last month. That's the lowest level since October 2009. For industry in both countries was a significant decrease in new orders.

Courtesy of dft.nl via Google Translate.

cossack55's picture

More importantly; What of Andorra?

dearth vader's picture

You might be interested in the San Marino PMI, a bellwether for Italy. Their post stamp trade has cratered...

GlassHammer's picture

Step 1.)

Insert the typical rebuttal:

"Its just a phase"

"Money on the sidelines"

"Opportunities are out there"

 

Step 2.)

Proceed with malinvestment

 

Step 3.) 

State "no one could see it coming."

 

Step 4.)

Repeat step 1.

 

nantucket's picture

"money on the sidelines"

that one kills me everytime i read it.  there's no such thing. 

for every dollar of stock (or bonds) bought by a dollar "coming off the sideline", there is one dollar coming off the field and "going to the sidelines".  People love to say it and they actually think they sound market savvy when they say it. 

It's good though, because it helps me identify the schmucks that don't know jack about markets.  The rubes self-identify.

poor fella's picture

Is this officially the 'softest patch' yet?!? And what follows that?!

LikeClockwork's picture

Too busy paying down debt and keeping afloat to go shopping means less shit needs making? Whoodathunk?

Short BHP?

Itsalie's picture

HSBC Taiwan PMI firmly in contraction first time since Jan 2009, that did nothing to their stock market or to any Asian markets - it tells you how much robots have taken over the emerging markets; plus the new hedge funds and thousands of bucket shops set up there hire fresh grads at $150k starting salary plus joining bonus, naturally the only criteria is a memory span shorter than goldfish :0 in the past, a Taiwan PMI below 50 would send Asian markets down 3%. So this time  it is different :)

Bob's picture

He may be a sock puppet, but he's the Fed and Obama's sock puppet, and by God, Mr. Market is happy!

Mission Accomplished.

Version 7's picture

Who could have anticipated that capitalism was going to be so short lived.

Version 7's picture

..and its variations too.

Setarcos's picture

Marx?

Not that I am a Marxist, but, "Capitalism contains within itself the seeds of its own destruction."

The seeds just might be greed and the expectation of exponential growth on a finite planet, but that is just my take and not something Marx ever considered.

Malthus did, though from an elite perspective; an early version of those, today, who want to throw helpless people under a bus, so as to save the banking/finacial system?

Pay Day Today's picture

Well I'm Marxian, but I also live in a capitalist world so having it slowly implode around myself is not much fun.

Bob's picture

Somtimes it's better to be wrong.  Of course, this one was a no brainer, but still.