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Thread: Philly Fed manufacturing index slumps

  1. #1

    Default Philly Fed manufacturing index slumps

    The big picture: The sharp drop fits with other manufacturing data suggesting the U.S. is now succumbing to the global industrial downturn. The Empire State index rebounded in February but remained close to a two-year low. The flash U.S. manufacturing PMI fell to the worst level in 17 months.


    https://www.marketwatch.com/story/ph...ary-2019-02-21

  2. #2

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    OK.. (BUT) the stock "market" is still strong and Vibrant.
    so even IF layoffs and stuff starts...
    nobody should get real scared.
    Unless the stock Indeces drop.
    x3

  3. #3

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    Quote Originally Posted by silverone View Post
    OK.. (BUT) the stock "market" is still strong and Vibrant.
    so even IF layoffs and stuff starts...
    nobody should get real scared.
    Unless the stock Indeces drop.
    As i said in another thread, central banks hold nowadays enough stocks to be able to manipulate the stockmarkets. If they have about twenty percent of the DOW and S&P they can play the market, straighten out dips, play up the market, but also " punish" a politically " unfriendly" stock.

    As i said we entered a Marxmarket era. The West is imitating chinese bankbehaviour, not the other way around.

    Golditiki2+++

  4. #4

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    Quote Originally Posted by golditiki2 View Post
    As i said in another thread, central banks hold nowadays enough stocks to be able to manipulate the stockmarkets. If they have about twenty percent of the DOW and S&P they can play the market, straighten out dips, play up the market, but also " punish" a politically " unfriendly" stock.

    As i said we entered a Marxmarket era. The West is imitating chinese bankbehaviour, not the other way around.

    Golditiki2+++
    Right. so.. the Real Economy (in theory) could be in Serious Decline..
    AND with the stock Propaganda Machine in high gear...
    could Most people SEE the Reality of the situation....... ?
    you would think more people would see it.

    https://www.reuters.com/article/us-u...-idUSKCN1QB0IK
    Last edited by silverone; 02-22-2019 at 11:40 AM.
    x3

  5. #5

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    But, it's not. It's a consumption economy, consumer spending has to retract, it won't as long as we keep allot of people working, and since so many Americans don't save much, or many don't have much savings, that keeps them spending. Also, many don't know how to do things for themselves, think growing food, car repairs, taking care of themselves (think health care/pill), increasing CC limits, then able to roll that into the home loans, increasing wages, they keep spending. Economy goes.

  6. #6

    Default

    Quote Originally Posted by everything1 View Post
    But, it's not. It's a consumption economy, consumer spending has to retract, it won't as long as we keep allot of people working, and since so many Americans don't save much, or many don't have much savings, that keeps them spending. Also, many don't know how to do things for themselves, think growing food, car repairs, taking care of themselves (think health care/pill), increasing CC limits, then able to roll that into the home loans, increasing wages, they keep spending. Economy goes.


    Doesn't look to me like the consumer is spending so much



    Home Depot shares fall after earnings miss and retailer’s expectations of slowing sales in 2019

    https://www.cnbc.com/2019/02/26/home...-earnings.html



    Macy’s to cut 100 management jobs, trim $100 million in annual costs as sales continue to slump

    https://www.cnbc.com/2019/02/26/macy...-earnings.html


    Caterpillar shares drop after UBS double downgrades to sell, citing slowing construction sales

    https://www.cnbc.com/2019/02/26/cate...ion-sales.html


    Saks Off 5th planning to close up to 20 stores




    Many more but I can't list all of them.........Hold on tight it not going to be pretty in a year or so........

  7. #7

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    But they are spending, wages increased, and we don't save much in comparison to say Chinese who save on average 30-35% of their income.

    We are seeing corporations doing quite a bit of musical chairs, selling parts, discontinuing parts, even Tesla went to China, well.. They borrowed him a half billion!

    Maybe retailers are fighting back against rising wages, GM still makes the CRUZ, just in Mexico is all.

    Home Depot doesn't count either, remember when we just had an Ace hardware store, well those are mostly closing up, their is to much competition in that sector, they over expanded per market conditions, fact.

    Retail doesn't count, shedding jobs that don't pay a living wage. But, maybe women who are traditionally where all the retail targets, maybe tightening their belts a little, or they maxed their CC out. I'm looking at interstate traffic this morning, so many trucks, thinking wow, something is definitely happening with this economy.

    Now, look to Washington, neither party has any interest in ballooning deficit! Also, the current administration will and has to do everything to prop it up so the cronies can try to keep the money going their way.

    But their are little signs.. The cycle is playing out but with so much stimulus, government spending, higher wages, QE remnants, high housing prices, HELOCS, banks open for business, look at the expansionary health care industry, and service industries, etc.

    https://www.fresnobee.com/news/local...227310909.html
    Last edited by everything1; 03-11-2019 at 12:25 PM.

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