'Hope' Just Died In The Empire State

Extending the run of disappointing 'soft' survey data (plunging to its weakest since Dec 2016), today's Empire State Manufacturing survey fell notably below expectations.

 

But under the hood, the survey was very worrisome... the six-months-ahead-general-business-conditions sub index (aka 'hope') collapsed at the fastest rate since the last two recessions...

As Gluskin Sheff's Chief Economis David Rosenberg noted, The NY Empire manufacturing index had more of a Yankees than a Mets feel to it. The real key was the meltdown in the forward-looking six-month expectations index.

Comments

Disgruntled Goat Occident Mortal Mon, 04/16/2018 - 11:24 Permalink

NY is the biggest welfare state in the nation .... more than 40% of NYC residents are from other countries, sucking our welfare system and social services dry .... manufacturing was dead a long time ago ... they killed it with high costs and taxation .... whatever is left will be killed by Blaz and Cuomo, with a $15 minimum wage, the increased FICA and Workmans Comp costs associated with that, paid sick days, and paid family leave ... oh .... and an uneducated and disinterested labor pool .... today, people are only looking for the option to work, not full time employment

In reply to by Occident Mortal

kumquatsunite Disgruntled Goat Mon, 04/16/2018 - 11:49 Permalink

Consider these statistics:

1. "Mothers" on welfare programs can work for minimum wage and Still receive food stamps, medical for themselves and all their children, Paid for daycare (my sister had a daycare. one woman had three children all paid for by the "govt/citizens", disability for the "adhd" kids, free phone, subsidized electricity, subsidized rent, free school supplies through various "helpful" organizations, and all those nice people who just want to "help" the little kiddies.

2. The whining by the blacks Ignores Their Responsibility. 85% of black kids are born to mothers without fathers around. Now if you've seen even One Article of Spokesperson from the blacks who tells these mothers that birth Control is free or tells the Fathers that they have no right to breed and abandon, please point it out.

The blacks complain about Everything being Racist except under no condition believe they have Any Personal Responsibility. End all welfare to any mother who has more than one "accident" child. You are breeding morlocks and criminals with "compassion." 

If we have to go to war, we will be killing our best and leaving behind nothing but the MORLOCKS and Criminals!

No more mollycoddling the blacks. Honesty and cleanliness and decency are Free.

In reply to by Disgruntled Goat

Erek Mon, 04/16/2018 - 10:30 Permalink

"The NY Empire manufacturing index had more of a Yankees than a Mets feel to it"

More like a Dodgers feel - they up and left a long time ago.

Endgame Napoleon JoeTurner Mon, 04/16/2018 - 11:15 Permalink

One major industry is the welfare industry that manufactures free stuff for citizens and noncitizens—free rent, free groceries, free electricity, free monthly cash assistance, EITC child tax credits up to $6,431 and nearly free daycare—so that they can work part time to stay under the earned-income limits for welfare while manufacturing US-born kid after US-born kid, with each additional manufactured kid bringing in more unearned income from government. 

In reply to by JoeTurner

CPL Mon, 04/16/2018 - 10:38 Permalink

Don't know what made them believe that they were entitled to anything to begin with.  Gas pump price is over the magic number of 1.20 and they are mostly far too fat or old to matter in a world without oil.  Unless they were hoping for a miracle, there are no more free range communist miracle workers left.  Sadly none of them resurrected after being thrown out windows and filled with a couple of pounds of nails.  They all just died and stopped moving when the deeds were done. 

Now the only offer on the table is extinction since nothing in terms of capital has come the other way.  

wwwww CPL Mon, 04/16/2018 - 11:06 Permalink

https://en.wikipedia.org/wiki/Economy_of_New_York

The state also has a large manufacturing sector, which includes printing and publishing and the production of garments, furs, railroad rolling stock, and bus line vehicles. Some industries are concentrated in upstate locations also, such as ceramics and glass (the southern tier of counties), microchips and nanotechnology (Albany), and photographic equipment (Rochester). New York's agricultural outputs comprise dairy products, cattle and other livestock, vegetables, nursery stock, and apples.

In reply to by CPL

Dumpster Elite wwwww Mon, 04/16/2018 - 12:21 Permalink

I live near Rochester. Wikipedia is a load of horseshit. Rochester died a long time ago. Kodak died, and Xerox died. There isn't any "photographic" anything going on in Rochester. There was a long time ago. There are three areas of NY State; the Albany area, which, of course, is heavily invested in, because that's where all the scumbag politicians go to play with my taxes; NYC, which should be it's own State/District. And the rest of the State, which is just dried up and long forgotten, because the politicians couldn't give a flying fuck. They go where the votes are, which is NYC and Albany. So I have to live with the same bullshit gun ban rules out here in the middle of nowhere, as someone who lives in a NYC high rise.

In reply to by wwwww

Cardinal Fang Dumpster Elite Mon, 04/16/2018 - 13:37 Permalink

Yeah, I was thinking the same thing, that wiki article is a bit dated, like 1956 yearbook data.

I met a farmer upstate who is running an organic spice/herb farm. He is from India. He sells his stuff via e-commerce.

His IT guy is a white American male. I was Lol-ing at the irony...

Interesting thing is he puts the profits from his dairy cow milk into a retirement plan to take care of the cows after they stop producing...

He was actually a pretty cool guy...

In reply to by Dumpster Elite

PGR88 Mon, 04/16/2018 - 10:39 Permalink

New York State is like the former communist Eastern Europe

One party rule, statist/socialist ideology. No decisions can be made locally, everything must involve politics. Supporting government and its massive structure comes first and foremost. Rule is by politically connected oligarchs, while the vast majority of the State just becomes poorer. People must flee to the West to find opportunity - oh, and it snows a lot.

iLLivaniLLi19 kumquatsunite Mon, 04/16/2018 - 12:52 Permalink

Race-mixing to a brown utopia can only work "theoretically" if the colored races mix into the European Y chromosome, not the European X chromosome. Meaning, that convincing white men to breed with other races is the only way for them to benefit from race-mixing. European excellence is on the Y-chromosome.

A race-mixed child (boy) with a European mother is very different from a race-mixed child (boy) with a European father. A race-mixed girl will not have a European Y-chromosome either way.

In reply to by kumquatsunite

Boris Gudonov Mon, 04/16/2018 - 10:49 Permalink

See if you can figure this out.  The official position of the Democratic Party, which runs New York State, is that high taxes don't adversely affect private enterprise.  At the same time, New York State government is offering lower tax rates as an incentive to companies which agree to locate in New York State.  LOL

Endgame Napoleon Boris Gudonov Mon, 04/16/2018 - 11:26 Permalink

They run those commercials, advertising low tax rates in NYC in the low-wage / low-taxation South. It might be due to the dearth of customers with pocket money to spend in the South, rather than the lack of cheap, welfare-fueled illegal alien laborers and single moms on welfare who can afford to work for low pay and part-time hours. We have tons of those. Depending on your business, the lack of consumers with spending power hampers your profit, especially when so much money—billions—is sent out of the USA in remittances by welfare-aided immigrant laborers. Cheap is not always cheap for every type of business.

In reply to by Boris Gudonov

Boris Gudonov Mon, 04/16/2018 - 10:50 Permalink

I'm quite sure that the largest "industries" in New York State are welfare, disability. social security, real estate speculation, and government employment.

 

wwwww Boris Gudonov Mon, 04/16/2018 - 11:07 Permalink

https://en.wikipedia.org/wiki/Economy_of_New_York

The state also has a large manufacturing sector, which includes printing and publishing and the production of garments, furs, railroad rolling stock, and bus line vehicles. Some industries are concentrated in upstate locations also, such as ceramics and glass (the southern tier of counties), microchips and nanotechnology (Albany), and photographic equipment (Rochester). New York's agricultural outputs comprise dairy products, cattle and other livestock, vegetables, nursery stock, and apples.

In reply to by Boris Gudonov

bigloser Endgame Napoleon Mon, 04/16/2018 - 11:34 Permalink

We have many farms here, but many are close to collapse, due to regulations and other government intrusion. I know, I own one. I don't grow much because prices are so low. I grow mostly for my own consumption, and the state wants to tax that.

Fuck them. It's actually nice up here for a few months, May - October, mostly, but I'm done with the winters. Heading south this winter for a 6 month camping trip.

Yes, fuck everybody.

In reply to by Endgame Napoleon

bigloser Mon, 04/16/2018 - 11:31 Permalink

I live in upstate NY in a rural area and am happy to say that I paid no income taxes to the state in 30 years. In fact, this year, I am so fucking poor that I didn't have to file a federal or state income return.

All my money is at the bottom of a lake, due to a tragic boating accident. Considering making myself a dependent of a friend, so they can get the EITC. Maybe that will teach these fuckers to screw us over for 45 years.

Paying taxes just sucks, so I stopped doing it years ago. Now I'm a fucking SS leech. Fuck all government. Posers, Intruders, Fakes, Liars, thieves.