Economic numbers this morning show a manufacturing economy peaking, and manufacturing employment tanking.
This is stagflation, as inflation is also rising. Personal income fell the most in history as reported on Friday of last week.
Of course, this is what the OBiden regime wants – to destroy the Trump economic miracle.
Obama doesn’t like Trump waived that magic want and brought all those manufacturing jobs back.
Time will tell if this regime’s policies can be reversed in time to avert destruction of the nation.
Financial markets are mixed on the open.
Markit Manufacturing PMI (May) printed at 62.2 vs 61.5 consensus estimate.
ISM Manufacturing Employment Index (May) printed at 50.9 vs 61.5 estimate.
ISM Manufacturing PMI (May) printed at 61.2 vs 60.7 estimate.
ISM Manufacturing Prices Paid (May) printed at 88 vs 86.8 estimate.
ISM Manufacturing New Orders Index (May) printed at 67 vs 66.3 estimate.
Construction Spending (MoM) (Apr) printed at 0.2% vs 0.6% estimate.
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