Bidenomics! Industrial Production Unexpectedly Heads Lower In May, Still Signaling Stagnation (Joe’s Pacific Coast To Indian Ocean Railroad Hasn’t Kicked In Yet)

Confounded Interest ^ | 06/18/2023 | Anthony B. Sanders

[Kaiser8408a]

I wonder if Biden’s proposed railroad from the Pacific to the Indian Ocean will generate massive industrial production growth? Is this more Bidenomics??

Industrial production unexpectedly dips in May. It peaked eight months ago.

On a year-over-year basis, May’s Industrial Production declined to a lame 0.23%. As The Fed hikes rates and slows M2 Money growth.

Today the Fed released its Industrial Production and Capacity Utilization report for May 2023.

Industrial production edged down 0.2 percent in May following two consecutive months of increases. The Bloomberg Econoday consensus was a small increase. In May, the index for manufacturing ticked up 0.1 percent, while the indexes for mining and utilities fell 0.4 and 1.8 percent, respectively.

A long term chart better shows the trends.

Industrial Production Index Since 1972

Industrial production data from the Fed, Chart by Mish Industrial production data from the Fed, Chart by Mish Recession Lead Time After Industrial Production Peak

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Industrial production data from the Fed, peak calculation and Chart by Mish Industrial production data from the Fed, peak calculation and Chart by Mish Peaks in industrial production tend to mark recessions.

Industrial production and manufacturing industrial production peaked eight and seven months ago respectively.

Politically speaking, if you are going to have a recession on your watch, it’s much better to have it early in your term than heading into an election campaign. But here we are.

Inflation is still not under control, and this economy is certainly not firing on all cylinders.

[Kaiser8408a]

Bidenomics is all about wealth transfer to the Donor Class.

[MIchaelTArchangel]

I wonder if the Pacific Ocean to Indian Ocean like is from the mind of Plug My Buttigieg or from Plugs Biden? Look at the advantages of not having to clean up derailments!

[MIchaelTArchangel]

I wonder if the Pacific Ocean to Indian Ocean like is from the mind of Plug My Buttigieg or from Plugs Biden? Look at the advantages of not having to clean up derailments!

[adorno]

At least he didn’t propose a bridge to the moon. But give him time.

[PeterPrinciple]

What is wealth?

Adam smith disliked govt and lawyers because they were a consumption activity, not wealth generation. (though needed in limited quantities.)

So define wealth. Know the goal, not what you don’t like.

[brownsfan]

“Bidenomics is all about wealth transfer to the Donor Class.”

And Biden voters are too stupid to care.

[Bratch]

Media template:

[Democrat entity] prediction is unexpectantly inaccurate.

REPUBLICANS POUNCE!!!

[kiryandil]

Bidenomics is all about wealth transfer to the Donor Class.

Indeed.

"Spotify Parts Ways With Harry and Meghan After Paying Them a Reported $20 Million for 12 Podcasts"

[kiryandil]

I wonder if the Pacific Ocean to Indian Ocean like is from the mind of Plug My Buttigieg or from Plugs Biden?

The Bimbo of Transportation, or the Puppet of Badfeel?

[Rdct29]

Joe Biden has the reverse Midas touch. Everything he touches turns to shit. America is heading for much harder times before the 2024 election. Every time I go the the store or put gas in my car it costs me more money. The time will come when the average America has to choose to put gas in the car or food on the table. Joe's continued corrupt payments of billions of dollars to Ukraine will have to stop. People know he took over a thriving economy and destroyed it within less then a year. He is in deep trouble trying to blame Putin for Joe's stupid policies. The faster this crash happens the better. Corrupt Joe Biden doesn't have a clue about creating a thriving economy. He only knows how to waste money and fill his own pockets with illegal money from bribes.

[unclebankster]

Joe Biden has the reverse Midas touch. Everything he touches turns to shit. America is heading for much harder times before the 2024 election. Every time I go the the store or put gas in my car it costs me more money. The time will come when the average America has to choose to put gas in the car or food on the table. Joe’s continued corrupt payments of billions of dollars to Ukraine will have to stop. People know he took over a thriving economy and destroyed it within less then a year. He is in deep trouble trying to blame Putin for Joe’s stupid policies. The faster this crash happens the better. Corrupt Joe Biden doesn’t have a clue about creating a thriving economy. He only knows how to waste money and fill his own pockets with illegal money from bribes.

************

Yep,

Good assessment of the current situation on your part.
Well done.