Remember Obama’s new normal?
“How are you going to get those jobs back, wave a magic wand?” Obama quipped to Trump’s economic platform.
Well, the jobs came back in spades with good economic policy. Now we’re back to high inflation, and and possibly less economic activity, not withstanding the $5 trillion print-money sugar high we are currently experiencing.
Today the services PMI numbers printed off the charts, while factory orders slowed. This is what Jimmy Carter’s misery index looks like, and Biden is just getting started.
By the way, we’ve looked behind the green curtain and it’s not Biden running things. He’s suffering elder abuse.
This is Obama, Rice, Jarret’s economy alright; they are pulling the strings.
There is a cost to destructive monetary and fiscal policy; if we don’t stop this agenda soon, we will soon find out what that cost is.
ISM-NY Business Conditions Index (Mar) printed at 37.2.
Markit Services PMI (Mar) printed at 60.4.
Markit PMI Composite (Mar) printed at 59.7 vs 59.1 consensus estimate.
ISM Services New Orders Index (Mar) printed at 67.2.
ISM Services PMI (Mar) printed at 63.7 vs 58.5 estimate.
ISM Services Employment Index (Mar) printed at 57.2 vs 53.9 estimate.
ISM Services Prices Paid (Mar) printed at 74 vs 68.3 estimate.
Factory Orders (MoM) (Feb) printed at -0.8% vs -0.5% estimate.