And lo, the Eye of Sauron cast its baleful gaze upon manufacturing, and manufacturing did wither. CNN Business: The Dow fell nearly 350 points Monday, as stocks finished sharply lower after a key economic report showed that American factory activity fell for a second month in a row in September. The ISM manufacturing index…
Category: Recession
OECD says global economy may be on the brink of recession, thanks to Trump's policies
Don’t look now, but the entire planet could be on the brink of a recession. And guess what. One American idiot is largely to blame. Bloomberg: The OECD projects the world economy will grow just 2.9% in 2019, which would be the lowest forecast since 2009. In 2020, growth is predicted to inch up to…
Poll: Half of Trump voters would blame him for a recession
Donald Trump has taken credit for the Obama recovery ad nauseam, and like the sad Lilliputian he is, he’s now desperately looking for scapegoats in the event the economy goes south. If we enter a recession in the next 18 months, it will be the fault of Jay Powell, or the Democrats, or our Western…
Key manufacturing index signals contraction for the first time since 2009
In the latest indication that Donald Trump’s casino-killing magic has at last gone global, the U.S. manufacturing PMI recently shrunk to its lowest level since September 2009. You’ll recall that Trump has been laser-focused on reviving U.S. manufacturing — just as he was once laser-focused on selling steaks through a mail-order catalog. In other words, he’s…
American Manufacturing Sector Is Already in a Recession.
Did you know that the manufacturing sector of the U.S. economy was already in a recession? Manufacturing fell at a 2.2% rate in the second quarter after a 1.9% drop in the first three months of the year. This is not the dreaded Media trying to rattle Americans. It’s those Trump disloyalists — according to the orange…
U.S. Steel laying off hundreds of workers in Michigan
Donald Trump likes to pretend that the American steel industry is one of the few domestic industries that hasn’t been vigorously wedgied by his tariff regime. Not only has he claimed his tariffs have singlehandedly revived the industry … x In one year Tariffs have rebuilt our Steel Industry – it is booming! We placed a…
Another recession signal flashes red: RV sales are way down
We won’t know for sure that a recession is here until Donald Trump gives credit for the current state of the economy to Barack Obama, but we’ve seen plenty of ill auguries lately, and the “r word” is now on the lips of both economists and ordinary Americans. The inverted yield curve, slowing global growth, wild gyrations…
'He's rattled': Paranoid Trump broods about possible recession
You can tell when Donald Trump is upset about something — his lies and non sequiturs become far more feral, frequent, and surreal. Meanwhile, we all sit back and observe with a mixture of contempt, amusement, and horror — like watching a chimpanzee in a room with several boxes scattered around try to get the banana…
White House insider: 'A lot of us are concerned. Without the narrative on the economy, he can't win'
Donald Trump has always been about fluffing up his non-accomplishments. He once claimed he was worth TEN BILLION DOLLARS, and that he amassed that fortune after receiving a mere pittance in seed money from his well-heeled slumlord dad. But the truth is, his life has really been nothing more than a 73-year-long Trump Steaks ad. There’s…
Trucking activity has dropped off big-league, possibly signaling an economic slowdown
Trucking and shipping are the lifeblood of our economy, just as lard and cheap Christmas fudge are the lifeblood of Donald J. Trump. When any of these slow or clot up, the patient is about to faint. Well, look out, and grab onto your doubloons. As the Fed considers whether to begin cutting rates or…