Posted on 06/27/2022 9:55:12 AM PDT by blam
After an unexpected rise in US durable goods orders (in May) and pending home sales (in May), the Dallas Fed’s Manufacturing Survey (in June) plunged to its lowest since May 2020.
Source: Bloomberg
The survey was expected to rise modestly from -7.3 to -6.5, but plunged to -17.7. New Orders crashed into negative territory and employment weakened significantly.
The comments from survey respondents are perhaps most enlightening of the reality facing many businesses in America: foreign dependence, cost inflation, over-regulation, and Biden energy policies…
◾As a country, we are not looking at the future and establishing relationships with emerging countries like we should to ease the dependency on Chinese products and services. This will hurt us in the long run.
◾Everything we buy and sell comes and goes by truck, if we can get a truck at any price. Inflation will continue until the country is self-sufficient in oil and gas. The current political policy may not change until 2024. Therefore, inflation will be our consistent companion for a while, then stagflation!
◾There is increased concern over Mexican manufacturers gaining more business in the U.S. due to not having the Section 232 tariffs.
◾We see the environment for the oil industry becoming even worse than the previous months. Biden is promoting a very caustic attitude toward the oil industry, which doesn’t help the country in any way.
And finally, this Dallas Fed respondent’s comment on the Biden admin seems to sum how many in America feel today:
“We’ll all be lucky to have a job with two more years of this disaster.”
Worse still, ‘hope’ is evaporating rapidly as six-months ahead activity expectations crashed to near COVID-lockdown lows…aside from the COVID lockdown, ‘hope’ hasn’t been this weak since Lehman…
Source: Bloomberg
“Growth scare” back on…
But Biden and Yellen said…
My lead times went from 3 weeks to 20 weeks. Manufacturing is at a stand still awaiting raw materials, computer chips and various parts.
Isn’t the answer just to learn to code?
Didn’t Powell just say the economy was strong?
I’m no genius, but I think some people are lying…
Thanks for posting, sir!
👍👍👍
Higher gas ⛽ prices
Higher food prices
War
Thanks, Democrats and NeverTrumpers.
Thanks a lot.
You my friend have an eye for the obvious.
(There is increased concern over Mexican manufacturers gaining more business in the U.S. due to not having the Section 232 tariffs)
Open-Borders W Bush is probably fine with all that.
Its just transitory lying.
But if we vote Democrat we can all have abortions. Yeah,
Which industry?
I’m in electrical distribution.
Learned through years of stupidity.
I’m stealing that.
Transitory lying that is data dependent. ;)
instead of normal (going into car dealer and bargaining them down a few cents from sticker price),
the dealer has Dealer Premiums added to the sticker now...(!!!) we checked and apparently this is actually legal)...markups
ranging from $10,000 to over $50,000 per vehicle
obviously, we walked out.
F these greedy pigs!
Top notch word salad.
Are you in DC?…
Yes, but we’re sticking it to Putin, so who cares?
We’re in a “transformation” (Biden). Kinda like when cows consume hay and grass it transforms into cow pies. Joe just feeds the beast green cash and we get the transition product at the other end.
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