President Joe Biden has spent and borrowed trillions of dollars to resuscitate America’s manufacturing sector. The results have been abysmal so far. The Institute for Supply Management has revealed the industry has been contracting for more than a year. The S&P Global PMI confirmed that manufacturing is in a recession. In November, the PMI print […]
Money
Atlanta Fed GDPNow estimate for Q4 revised higher despite hard crash in durable goods orders
Durable goods orders crashed — and crashed hard in October. Yet, the top GDP forecast revised its fourth-quarter estimate higher. In October, according to the Census Bureau, durable goods orders plummeted 5.4 percent, down from the downwardly revised 4 percent in September. This was worse than the market estimate of -3.1 percent. For whatever reason, […]
WATCH: Exposing the CPI scam
Financial markets roared on Tuesday as the annual inflation rate slowed to 3.2 percent in October. The core consumer price index (CPI) eased to four percent. Next on the inflation calendar will be the producer price index (PPI), which has been gaining steam in recent months. The most notable facet of the Bureau of Labor […]
Vox: ‘The problem isn’t inflation. It’s prices.’
In one of the funniest headlines you will read today, if not this year, comes from Vox. “The problem isn’t inflation. It’s prices.” Yes, you read that right. The left-leaning publication writes: “The root of what’s going on here can feel obvious: blame inflation, which picked up in mid-2021 and throughout 2022. But that isn’t […]
October Jobs Report: More revisions, more government jobs, more unemployment
The October jobs report was a doozy. The U.S. economy created 150,000 new jobs in October, down from a downwardly revised (more on that soon) 297,000 in September. This was also below the market estimate of 180,000. The unemployment rate edged up to a higher-than-expected 3.9 percent, up from 3.8 percent. But here are the […]