US manufacturing now has two consecutive months of decline

[octoberlib]

Last edited Tue Oct 1, 2019, 01:50 PM - Edit history (1)

Link to tweet

Just for the record: US manufacturing now has two consecutive quarters of decline. Two quarters of decline is definition of recession. US manufacturing is now in recession.
- it's not the Fed
- Fed rates are at historic lows
- the Fed can't fix tariffs
- #ItsTheTariffsStupid

[elleng]

1. and today:

S&P 500
-0.81%
Dow
-0.89%
Nasdaq
-0.66%


(NOT that the markets say everything about manufacturing)

[Johnny2X2X]

2. Jobs report later this week will be key

Weak job growth and things could spiral quaintly.

[Newest Reality]

3. The tariffs

that are still in place and could be ramped up are not doing anything but that.

Trump wheeled a Trojan Horse into the spotlight and what's inside is what matters to me here. The guise of "the deal" and "negotiating" is proving to be reckless and economically damaging as statistics and charts are proving. There have been no real benefits, other than some short-term ones to small sectors that are quickly fading away.

That would give cause to ending the tariffs as quickly as possible or coming to an agreement. The thing is, as some note, this has put us in a real predicament and weakened us to the point of losing more than we started with. The opponents in this situation seem to have the upper hand and if the tariffs continue or expand to other trading partners, that pattern will also continue. This is a dynamic, global market that has the ability to adapt and adjust with time.

I don't see this as just plain idiocy from Trump, (though it sure as hell looks like it, no doubt) but a reinforcement of an insidious and methodical destruction of our economy, along with all the other detrimental, (oh, the list) effects he has had. So, some might chalk it up to a mere baboon, but I see it as intentional as well. Both? Probably. Even a total idiot can muck things up intentionally and it is much easier than working with facts, knowledge and skill to improve a situation.

Will we call it the Trump Recession? The tariffs, (tax on consumers) are wrong, bad, bigly.

[octoberlib]

4. Good post.

[Newest Reality]

6. Thank you!

[mr_lebowski]

11. +2

[Wounded Bear]

16. Been calling it the Trump Slump for a while now...

those of us out in the real world have been watching prices go up for months now.

They stretched the Obama recovery as long as they could, but it's starting to unravel, and Trump has been pulling at the threads.

[Newest Reality]

18. Yes!

That term is important, too. He likes his "brand", well then, new definitions are needed. He likes to put his name on things and reap rewards even for doing that alone by licensing, as we have seen. Well here we go...

Fact: Trump Slump. Trump Recession.

[Johnny2X2X]

5. Markets responding

S&P-1.22%
DOW -1.20%
NASDAQ -1.13%

[Hoyt]

7. That's what happens when you are opposed to global trade. We need to heed that, as well as GOPers.

[octoberlib]

8. Totally agree. I used to be against the TPP. Learned my lesson.

[Wounded Bear]

17. The TPP was supposed to help us fight back against China...

by joining up with other countries around the Pacific Rim.

[DrToast]

9. If anyone cares, this is not true

I imagine he’s referring to the ISM report that came out today and showed a second consecutive month of decline. Not quarters.

[octoberlib]

10. That is probably what he was talking about. Will change my OP..

[catrose]

12. Doesn't two such consecutive quarters signal a recession?

It's been a while since I studied economic indicators, but that's my hazy memory of the situation.

[octoberlib]

13. Yes but this Twitter user got quarters confused with months. It's actually been two straight months.

[catrose]

14. Thanks!

[Demovictory9]

15. yes, financial shows have been reporting on this over the last few days

it's a big deal