America's factories just suffered their worst month in a decade

[ZiprHead]

https://www.cnn.com/2019/10/01/economy/ism-manufacturing/index.html?utm_content=2019-10-01T18%3A00%3A25&utm_medium=social&utm_source=fbCNN&utm_term=link

New York (CNN Business)In the surest sign yet that the trade war is hurting the American economy, manufacturing activity contracted for the second month in a row in September, falling to a level not seen in 10 years.

The Institute of Supply Management's closely-watched manufacturing index dropped to 47.8 in September, its lowest level since June 2009 and worse than what economists had expected.
The index measures month-to-month changes in the industry. A reading above 50 denotes growth in the sector.
"Global trade remains the most significant issue, as demonstrated by the contraction in new export orders that began in July 2019," said Timothy Fiore, chair of the ISM's manufacturing business survey committee.
Making matters worse, the contraction in September was steeper than it was in August, when the sector contracted for the first time in three years because of higher prices that factories pay for materials and weaker global demand.
And the slowdown isn't over.

Winning.

 

[TV and credit cards]

Crash and burn S&P. Crash and burn. The wallet is the only thing a Trumpkin understands. Gimme a nice protracted recession through next year. They’ll sour on Trump soon enough.

 

[Jimmy Higgins]

Trump can't be blamed for a recessionary cycle, but he is fucking with the Fed rate (WHIP inflation now boys!) and tariffs, screwing with global trade. That makes it harder to separate the portion that would be his fault from what isn't his fault. The economy seems to be slowing down.

 

[Fentoine Lum]

Trump can't be blamed for a recessionary cycle, but he is fucking with the Fed rate (WHIP inflation now boys!) and tariffs, screwing with global trade. That makes it harder to separate the portion that would be his fault from what isn't his fault. The economy seems to be slowing down.

No he can't, it's predictably inherent to capitalism.

 

[RVonse]

Trump can't be blamed for a recessionary cycle, but he is fucking with the Fed rate (WHIP inflation now boys!) and tariffs, screwing with global trade. That makes it harder to separate the portion that would be his fault from what isn't his fault. The economy seems to be slowing down.

I agree.

The Turmp trade tariffs were and are not really about the economy anyway. Its more about bringing back dignity for America's middle class and the reduction of the opioid drug crises in rust belt states.

 

[fast]

Trump can't be blamed for a recessionary cycle, but he is fucking with the Fed rate (WHIP inflation now boys!) and tariffs, screwing with global trade. That makes it harder to separate the portion that would be his fault from what isn't his fault. The economy seems to be slowing down.

No he can't, it's predictably inherent to capitalism.

That’s like saying downtime’s are predictably inherent to cycles.

 

[Jimmy Higgins]

Trump can't be blamed for a recessionary cycle, but he is fucking with the Fed rate (WHIP inflation now boys!) and tariffs, screwing with global trade. That makes it harder to separate the portion that would be his fault from what isn't his fault. The economy seems to be slowing down.

I agree.

The Turmp trade tariffs were and are not really about the economy anyway. Its more about bringing back dignity for America's middle class and the reduction of the opioid drug crises in rust belt states.

*spit take*

 

[Politesse]

It's only the beginning. The next two years will be grim.

 

[RVonse]

Trump can't be blamed for a recessionary cycle, but he is fucking with the Fed rate (WHIP inflation now boys!) and tariffs, screwing with global trade. That makes it harder to separate the portion that would be his fault from what isn't his fault. The economy seems to be slowing down.

I agree.

The Turmp trade tariffs were and are not really about the economy anyway. Its more about bringing back dignity for America's middle class and the reduction of the opioid drug crises in rust belt states.

*spit take*

There has been proven a high correlation of opioid related issues verses locations of high unemployment related on outsourced jobs to China.

 

[PyramidHead]

Trump can't be blamed for a recessionary cycle, but he is fucking with the Fed rate (WHIP inflation now boys!) and tariffs, screwing with global trade. That makes it harder to separate the portion that would be his fault from what isn't his fault. The economy seems to be slowing down.

No he can't, it's predictably inherent to capitalism.

That’s like saying downtime’s are predictably inherent to cycles.

Yes, and cycles are inherent to unstable, volatile systems.

 

[Koyaanisqatsi]

Trump can't be blamed for a recessionary cycle

No recession is ever "cyclic." They are all caused in some fashion by either action or inaction. To put it simply:

These periods result from an unusual, simultaneous and large grouping of business errors, or malinvestments. Faced with financial loss and declining margins, businesses scale back production and reallocate resources from less valuable ends to toward more valuable ends.

So, yeah, when you fuck with the Fed rate and enact ludicrous trade policy that is deliberately designed to destroy our economy, it's not exactly a mystery as to what happened and why. Trump's orders were to destroy America's standing in the world and he has done a remarkable and consistent job of it and all of his supporters are just standing there staring at the tsunami wave coming straight at them thinking, "Wow, look how big it seems to be getting. Should we move out of the way? Won't our hatred protect us...?"

 

[fast]

That’s like saying downtime’s are predictably inherent to cycles.

Yes, and cycles are inherent to unstable, volatile systems.

Maybe so, but instability (not to be confused with an occasional spike in downward volidity) is inherent to all systems.

In straight speak, i’m defending US capitalism. Yes, a US recessionary cycle is predictably inherent in the US economic system, but that information shouldn’t move us to hold the US economic system in a negative light.

 

[Jimmy Higgins]

That’s like saying downtime’s are predictably inherent to cycles.

Yes, and cycles are inherent to unstable, volatile systems.

Maybe so, but instability (not to be confused with an occasional spike in downward volidity) is inherent to all systems.

In straight speak, i’m defending US capitalism.

Why? US capitalism died in the Fall of 2008. It failed, it failed hard. It crashed the global economy.

 

[Koyaanisqatsi]

Maybe so, but instability (not to be confused with an occasional spike in downward volidity) is inherent to all systems.

In straight speak, i’m defending US capitalism.

Why? US capitalism died in the Fall of 2008. It failed, it failed hard. It crashed the global economy.

Actually, ironically, what failed was a lack of Capitalism, at least in regard to banks carefully watching over their loans (i.e., their own selfish interests). They farmed the oversight of their own interests to companies that in turn operated purely on opportunity, rather than diligent selfish oversight.

And it ALL would have never happened if it weren't for the three independent ratings agencies failing to properly rate the assets, which is likewise not a failing of Capitalism. Far from it, since providing accurate ratings assessments was their entire business and thus yet another failure of diligent selfish oversight.

And, in a more general sense, it was a failure of the prime rule of Capitalism, caveat emptor. Too many people were taking out loans they knew--or should have known--they could not pay back and should never have made in the first place, though that one is still more the fault of the banks not properly protecting their assets.

 

[Politesse]

Maybe so, but instability (not to be confused with an occasional spike in downward volidity) is inherent to all systems.

In straight speak, i’m defending US capitalism.

Why? US capitalism died in the Fall of 2008. It failed, it failed hard. It crashed the global economy.

Actually, ironically, what failed was a lack of Capitalism, at least in regard to banks carefully watching over their loans (i.e., their own selfish interests). They farmed the oversight of their own interests to companies that in turn operated purely on opportunity, rather than diligent selfish oversight.

And it ALL would have never happened if it weren't for the three independent ratings agencies failing to properly rate the assets, which is likewise not a failing of Capitalism. Far from it, since providing accurate ratings assessments was their entire business and thus yet another failure of diligent selfish oversight.

And, in a more general sense, it was a failure of the prime rule of Capitalism, caveat emptor. Too many people were taking out loans they knew--or should have known--they could not pay back and should never have made in the first place, though that one is still more the fault of the banks not properly protecting their assets.

Except that capitalists generally claim that the market will "correct" such errors.

 

[Harry Bosch]

Trump can't be blamed for a recessionary cycle, but he is fucking with the Fed rate (WHIP inflation now boys!) and tariffs, screwing with global trade. That makes it harder to separate the portion that would be his fault from what isn't his fault. The economy seems to be slowing down.

I agree.

The Turmp trade tariffs were and are not really about the economy anyway. Its more about bringing back dignity for America's middle class and the reduction of the opioid drug crises in rust belt states.

The tariffs are wrecking havoc on the supply chain and creating uncertainty in the market. I know a lot of manufacturers, and it's a very hot topic.

 

[Harry Bosch]

Maybe so, but instability (not to be confused with an occasional spike in downward volidity) is inherent to all systems.

In straight speak, i’m defending US capitalism.

Why? US capitalism died in the Fall of 2008. It failed, it failed hard. It crashed the global economy.

Actually, ironically, what failed was a lack of Capitalism, at least in regard to banks carefully watching over their loans (i.e., their own selfish interests). They farmed the oversight of their own interests to companies that in turn operated purely on opportunity, rather than diligent selfish oversight.

And it ALL would have never happened if it weren't for the three independent ratings agencies failing to properly rate the assets, which is likewise not a failing of Capitalism. Far from it, since providing accurate ratings assessments was their entire business and thus yet another failure of diligent selfish oversight.

And, in a more general sense, it was a failure of the prime rule of Capitalism, caveat emptor. Too many people were taking out loans they knew--or should have known--they could not pay back and should never have made in the first place, though that one is still more the fault of the banks not properly protecting their assets.

People take out sub-prime loans for multiple of reasons. Sometimes they have short term emergencies. Or sometimes they think that when properties are appreciating, that they can sell the house in the future at a profit. The real deal is that the subprime loans weren't priced accordingly.

 

[Harry Bosch]

Actually, ironically, what failed was a lack of Capitalism, at least in regard to banks carefully watching over their loans (i.e., their own selfish interests). They farmed the oversight of their own interests to companies that in turn operated purely on opportunity, rather than diligent selfish oversight.

And it ALL would have never happened if it weren't for the three independent ratings agencies failing to properly rate the assets, which is likewise not a failing of Capitalism. Far from it, since providing accurate ratings assessments was their entire business and thus yet another failure of diligent selfish oversight.

And, in a more general sense, it was a failure of the prime rule of Capitalism, caveat emptor. Too many people were taking out loans they knew--or should have known--they could not pay back and should never have made in the first place, though that one is still more the fault of the banks not properly protecting their assets.

Except that capitalists generally claim that the market will "correct" such errors.

Are you saying that there wasn't a correction? The market is tanking now, but we've had an incredible 11 year run...

 

[Loren Pechtel]

Maybe so, but instability (not to be confused with an occasional spike in downward volidity) is inherent to all systems.

In straight speak, i’m defending US capitalism.

Why? US capitalism died in the Fall of 2008. It failed, it failed hard. It crashed the global economy.

2008 wasn't due to capitalism, but socialism. The feds were buying up the mortgages. In the name of non-discrimination they defined crap as quality, the unscrupulous--completely predictably--responded by selling crap. It's a prime example of the dangers of disconnecting authority from consequences.

 

[PyramidHead]

Maybe so, but instability (not to be confused with an occasional spike in downward volidity) is inherent to all systems.

In straight speak, i’m defending US capitalism.

Why? US capitalism died in the Fall of 2008. It failed, it failed hard. It crashed the global economy.

2008 wasn't due to capitalism, but socialism. The feds were buying up the mortgages. In the name of non-discrimination they defined crap as quality, the unscrupulous--completely predictably--responded by selling crap. It's a prime example of the dangers of disconnecting authority from consequences.

Socialism is when the government buys stuff, the more the government buys the more socialister it is