In the third biggest month over month drop of U.S. manufacturing readings in history, behind only data from the start of the pandemic and the shut down of the U.S. economy, Bidenomics strike again.
Financial markets are down big on the news.
This was also the second biggest miss in history, reported Zero Hedge.
Price inflation remains strong.
The only thing Democrats can do now is spend more money to try and juice the economy even more in the face of stagflation. It is a losing proposition.
As Margaret Thatcher used to famously say — “Eventually you run out of someone else’s money…”
The U.S. is almost $30 trillion in debt with real total liabilities much higher than that.
Are you enjoying communism yet?
NY Empire State Manufacturing Index (Jan) printed at -0.7 vs 25.7 consensus estimate.
NAHB Housing Market Index (Jan) printed at 83 vs 84 estimate.