Posted on 03/15/2024 8:28:32 AM PDT by Kaiser8408a
The Darth Vader theme seems appropriate for President Magoo’s economic malfeasance. Except that Mr. Magoo is a nice person, Biden is a mean-spirited and corrupt.
The NY Fed’s Empire State Manufacturing crashed and burned in March. NYFRB’s general business conditions index plunged 18.5pts in March to -20.9. A reading below zero indicates contraction, and the measure was weaker than all estimates in a Bloomberg survey of economists. Hey, I though illegal immigrantion was good for the economy!!!
Industrial production fell tp -0.23 YoY in February, not a stellar sign for the economy.
And how about the yield curve?
(Excerpt) Read more at confoundedinterest.net ...
When the emergency is upon us, the time for preparedness has past. Everybody here should have started to prepare when Barry the Muslim was installed, I knew then the end was coming and there was no stopping it.
Another unfathomable post.
Hokum and the Dems couldn’t care less about working people in her Client State, they can go to #ell!
...the final Anti-Christ? :-(
It’s what they wanted to stop the “transitory” inflation. They wanted to crash the economy. And they are doing a great job at it.
“-0.23 YoY” is hardly a crash by any definition.
Clearly wage inflation has been stubborn, but we’re hardly experiencing anything resembling a crash.
If by “they” you mean the Fed, then yes, they’ve kept short-term rates high, which of course is prudent to slow down inflation.
No it hasn’t crashed. Perhaps I was being dramatic for effect. But they wanted to reduce inflation. The fed only has a couple of tools to work with so they are trying to cool demand. The proper way to reduce inflation is to create more competition and greater supply of goods and services. We’ve been moving in the wrong direction on that for decades in just about every economic sector. The bulk of the problem is political and regulatory.
This will not help NY State manufacturing:
New York-based Remington manufacturing factory called RemArms is scheduled to shut down in March 2024.
I agree. The Fed, as you say, has a limited toolbox. Thus far they’ve done a pretty fair job of applying the brakes. Clearly our elected officials have failed abjectly.
The only answer is to raise taxes even more!
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