Welcome to DU! The truly grassroots left-of-center political community where regular people, not algorithms, drive the discussions and set the standards. Join the community: Create a free account Support DU (and get rid of ads!): Become a Star Member Latest Breaking News General Discussion The DU Lounge All Forums Issue Forums Culture Forums Alliance Forums Region Forums Support Forums Help & Search

Johnny2X2X

(19,066 posts)
Tue Oct 1, 2019, 10:59 AM Oct 2019

US Manufacturing Pull back speeds up

https://www.cnn.com/2019/10/01/investing/dow-stock-market-today/index.html

"The ISM manufacturing index dropped to 47.8 in September, compared with the Refinitiv consensus forecast of 50.1. A level above 50 marks growth. It was the lowest reading since June 2009, which was the last month of the recession, according to the Institute of Supply Management."

2nd month in a row manufacturing in the US has shrunk, this index reading the lowest since the Bush Great Recession.

1 more sign of a recession to add to the pile of other signs. Trade war is taking its toll.
7 replies = new reply since forum marked as read
Highlight: NoneDon't highlight anything 5 newestHighlight 5 most recent replies
US Manufacturing Pull back speeds up (Original Post) Johnny2X2X Oct 2019 OP
Market down 1 % already, perhaps in reaction to this. Fell of a cliff about an hour ago. . . . nt Bernardo de La Paz Oct 2019 #1
Absolutely is a reaction to this Johnny2X2X Oct 2019 #2
Hmmm... Newest Reality Oct 2019 #3
Wash, rinse, repeat. CrispyQ Oct 2019 #4
Exactly like Johnny2X2X Oct 2019 #5
"We have now tariffed our way into a manufacturing recession in the U.S. and globally" n/t Hoyt Oct 2019 #6
Pullback speeds up-? Boxerfan Oct 2019 #7

Johnny2X2X

(19,066 posts)
2. Absolutely is a reaction to this
Tue Oct 1, 2019, 11:13 AM
Oct 2019

The nature of the markets is pretty complex. Bad news after bad news can pile up, but the roles of the fed, politicians in charge, and a lot of the investment analysts are to prop the market up. So you're going to have a lot of people talking and propping it up long after they all know a recession is assured. I don't think we're too that point yet, but it seems every week we see more indicators.

This indicator is another very reliable recession predictor, and it predicts recessions in the near term, so it could be close now.

Newest Reality

(12,712 posts)
3. Hmmm...
Tue Oct 1, 2019, 11:15 AM
Oct 2019

We will have so much losing that we will get tired of losing. The impact takes time, but it looks like it could snowball down the mountain. The Trump Recession is underway.

That's all I have seen out of Benedict Manson's MisAdministration. Take away, lose, destroy, pillage, etc. I wonder how much he and his cronies are cashing in on it all. Oligarchs do that and tin pot dictators dictate.

Johnny2X2X

(19,066 posts)
5. Exactly like
Tue Oct 1, 2019, 11:22 AM
Oct 2019

Don't even have to look nationally, take a look around locally. The Bush great Recession and housing crisis devastated housing values, in my town a hand full of real estate/property management companies bought hundreds of houses at auction and now are renting them at inflated prices. They've probably been selling them back to families in the last year because they know they're about to be worth half of what they are now.

Latest Discussions»General Discussion»US Manufacturing Pull bac...