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