Posted on 02/23/2016 2:39:12 PM PST by SkyPilot
From the article:
Here are some more numbers that indicate that the U.S. is heading into a major economic slowdown...
-U.S. exports were down 7 percent on a year over year basis in December.
-U.S. manufacturing activity has been in contraction for four months in a row.
-U.S. factory orders have fallen for 14 months in a row.
-The Restaurant Performance Index in the United States has dropped to the lowest level that we have seen since 2008.
-Orders for Class 8 trucks in the United States dropped by 48 percent on a year over year basis in January.
But the mainstream media continues to try to convince all of us that everything is going to be just fine. Earlier today, CNN ran an article entitled "U.S. recession fears fade after market rally", and the Wall Street Journal published an article entitled "The U.S. Economy Is in Good Shape" that got a tremendous amount of attention.
I live near Minneapolis and I haven’t seen this amount of building since the 2006 in the metropolitan area and I have never been this busy at work before. I hope it continues so I can get the mortgage paid off.
Here in NM we are always in a state of depression. Dems own this state pretty much.
Here in Louisiana, the Lake Charles and Baton Rouge areas are doing pretty good.
I supposed Bobby Jindal is getting a good retirement for running for president for 8 years.
Don’t worry, the stock market was up today. There will be a plethora of FReepers along in a minute to tell us how things are looking up.
Yeah I remember they called it Reaganomics in the first 2 years of his presidency. Then economy took off, and never heard that term again.
What is going on now is OBMANOMICS. But media will not utter that word.
The easy solution to restoring the economies of these energy dependent states is to raise the price of oil back to $100 per barrel. Personally, I prefer the cheaper gasoline and oil so I guess these states will just have to get over it.
This really isn’t the fault of the Obama administration which has been doing everything possible to raise the price of oil. Long term, cheap oil will have far more benefits than drawbacks.
We in New Mexico are seeing the oil industry struggling and tech companies that used to be booming - HP and Intel - cutting way back.
As a t-shirt company that caters to businesses, we are sensitive to changes in the economy. When people are being let go, companies buy fewer shirts.
In the last 30 days over 80% of our business has been from government or government related customers. Normally it is about 20%. Customers who have ordered like clockwork in the past are putting off or just not placing orders.
Very scary.
Alaska, North Dakota, Louisiana, and Oklahoma are all oil states. West Virginia and Wyoming are coal. So it’s the energy sector that is taking the hit right now.
I was wondering what was hammering NM.
Personally, I expect more collapse from both HP and Intel in NM in the next 5 years.
Plenty of fab capacity when new Portland fab comes on line and less drama from local environmental activists.
I read the article when it came out on Bloomberg. The author completely fails to distinguish between market-based economic downturn in oil states and the regulatory induced downturn in coal states.
David Stockmans contra corner post today. Financial time bombs hidden in plain sight. That light at the end of the tunnel is getting closer all right. Everything’s fine despite what tax withholding are telling...
Corresponds well with this from Micheal Snyder.
The Congress will have to cover these companies with a F.A.R.T.(Financial and Regulatory Tyranny) and bail their ass out...
Probably to provide new housing for all the illegals invaders.
I remember that as well.
The media ran every false and sob story they could think of. It was actually like watching insane madmen in action. Today, they cover for Obama 24/7.
Jubilee year.
Georgia’s job market is dead, unless you’re willing to take a 25K/yr pay cut.
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