The Incredible Shrinking Biden Economy! ISM Manufacturing Screams Stagflation, Still Contracting With “Reigniting Inflationary Pressures” (ISM Shrinks For Sixth Month)

Confounded Interest ^ | 05/01/2023 | Anthony B. Sanders

[Kaiser8408a]

Ah, that wonderful economy O’Biden talks about. It is actually shrinking.

The ISM Manufacturing index screams stagflation, as it continues to contract. With “reigniting inflationary pressures.

And prices are beginning to take off again.

[Kaiser8408a]

O'Biden, two of the most destructive forces in US history.

[silent majority rising]

One of biden’s selling points is that He “Transformed” the economy. He sure did! He made an improving and good economy into a rotten one, in no time at all!

[semimojo]

Look, I understand Sanders probably has mouths to feed and needs to come up with click-bait articles every week, but this is just silly.

Manufacturing is a part of the economy but consumer spending is a much larger part, and the recent numbers there were strong.

We've seen no numbers saying the economy's shrinking (yet).

[PGR88]

Its the 1970s, all over again, but much worse.

Bloated government and its printed money and massive debt have denuded long-term labor supply

Bloated government and woke ideology have destroyed education to train new workers

Bloated government and woke ideology have also hurt the supply-side for energy, materials, agriculture, etc... - all the building blocks of economy, over the long term

In the 1970s, China and Russia were closed from the world, were poor and didn’t use capital productively. NOW - both control the materials and manufacturing of the world. Much of it won’t come back

[Migraine]

ISM = Institute for Supply Management (a composite index re: supply chain?)
I had to look it up.
One of these days I’ll be completely nerded out on these acronyms. By then they’ll change all of them.

[V_TWIN]

So, IOW the plan to destroy the American economy and capitalist society in general is right on schedule.

[reed13k]

They’ll likely bump another 1/4 % on Wed ... inflation will likely come back over the summer as a result...I think Volker demonstrated that the interest rate must be set higher then the inflation rate to kill inflation. It will stunt the economy and flush the riskier out just like an infection out of a wound...

Unfortunately - I get the feeling gangrene has already set in and even that may not be enough...of course our sneeze is still the world’s cold ... for now.

[convoter2016]

According to that chart in the article, manufacturing activity stayed below 50 longer than the dip in 2012 (Obama’s reelection campaign), longer than the dip in 2016 (Hillary’s election campaign), longer than the dip in 2020 (Trump’s reelection campaign). Obama was still reelected (but had less electoral votes in 2012 than 2008), Hillary and Trump both lost their elections in 2016 and 2020. Yet Donna Brazile still claimed on yesterday’s This Week that Biden can point out that manufacturing is strong again. But this chart shows manufacturing is at a weak point now.

[semimojo]

...Biden can point out that manufacturing is strong again. But this chart shows manufacturing is at a weak point now.

Well, not surprisingly Sanders is using out of date data. PMI is back above 50:

"The S&P Global Manufacturing PMI for the US was revised lower to 50.2 in April 2023 from a preliminary of 50.4, and compared to 49.2 in March. New orders returned to expansion territory and production increased at the fastest pace since May 2022 while new export orders contracted further. Nonetheless, anticipations of greater future sales led firms to ramp up employment, with the rate of job creation reaching the fastest since September 2022."

More to the point, PMI is really a survey of purchasing activity so it's more a forward looking indicator than a measure of current activity.

If you look at manufacturing employment it's been a pretty steady rise since the pandemic.

[353FMG]

How can we maintain an economy when we destroy the source of required energy by destroying our oil and gas industry? Mass unemployment is a thing of the future — get that in your head.