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Weekly Market Pulse: An Economic Overview
Over the last two years, the evolution of the US economy has been driven by a return to “normal”. The distortions of the response to COVID had a profound impact on the economy that I believe will...
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Who’s Playing Puppetmaster, And Who Is Master of Puppets
Cue up the old VHS tapes of Bill Clinton. The former President was renowned for displaying, anyway, great empathy. He famously said in October 1992, weeks before the election that would bring him to...
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Not Just Where They Area, Where They Seem To Be Heading
By no means are any of these PMI numbers terrible. In the vacuum of mainstream Economics’ ceteris paribus fantasy, these might all be mildly pleasing. There is no such thing, however, and despite...
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ISM’s ‘Inflation’ Number Went Way Down (again)
Because there is no actual money in monetary policy, central banks have forced themselves (by having abandoned the monetary system decades ago) into an economic role that looks something like a...
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ISM At A Job Cutting 56.0
Though there’s not much to add, it’s worth bringing this up again. In the era of gigantic positives, why aren’t sentiment surveys so much more positive than they are? It’s because these PMI numbers...
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The Rate Cut Boom
All Presidents love to talk stocks when the stock market is making record highs. It is the one asset class the public knows about. Even the iconic 1980’s movie Wall Street made it seem just that...
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Some Global Odd & Ends
When it comes to central bank experimentation, Japan is always at the forefront. If something new is being done, Bank of Japan is where it happens. In May for the first time in human history, that...
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Back to 2013 US Version (Con’t)
Like China, manufacturers in the US report feeling better about manufacturing. Also like China, this is nothing new. The ISM Manufacturing PMI was estimated to have increased to 54.7 in December, up...
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Between Hope And Growth Is Where It All Is
After two months of “unexpected” weakness, the ISM Manufacturing Index rebounded in November. With both September and October below 52, after August’s reading was less than 50, the increase to 53.2 is...
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Mainstream Expects All At Once; In the Slowdown There Are Only Bits And...
As with China’s manufacturing, so goes global manufacturing. Rather than rebounding out of 2016’s dismal start, the failure to follow through in April and now May simply proves yet again that nothing...
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The Weakness Is Really Different Now
If there is any wonder why PMI’s deserve scorn, this morning’s twin bill delivered solid reasoning. Both the ISM Manufacturing Index and the Markit Manufacturing PMI declined, and both remained above...
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ISM, Too
Everything I wrote in my last post on China’s PMI’s could be rewritten and reworded for the ISM version of American industry. The index rebounded to above 50 in March for the first time since last...
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PMI Convergence
The Chinese Manufacturing PMI spent most of the past four and a half years straddling just the good side of 50. In fact, it hasn’t been above 52 since early 2012 – a quite remarkable feat of low...
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The Economy Would Be In Recession If It Weren’t So Robust
In the manufacturing sector we find the most supreme test of economic credentials. Despite what is clearly taking place, the mainstream, orthodox outlook and assessment continues to dominate. There...
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Some Global Odd & Ends
When it comes to central bank experimentation, Japan is always at the forefront. If something new is being done, Bank of Japan is where it happens. In May for the first time in human history, that...
View ArticleClik here to view.
Back to 2013 US Version (Con’t)
Like China, manufacturers in the US report feeling better about manufacturing. Also like China, this is nothing new. The ISM Manufacturing PMI was estimated to have increased to 54.7 in December, up...
View ArticleClik here to view.
Between Hope And Growth Is Where It All Is
After two months of “unexpected” weakness, the ISM Manufacturing Index rebounded in November. With both September and October below 52, after August’s reading was less than 50, the increase to 53.2 is...
View ArticleClik here to view.
Mainstream Expects All At Once; In the Slowdown There Are Only Bits And...
As with China’s manufacturing, so goes global manufacturing. Rather than rebounding out of 2016’s dismal start, the failure to follow through in April and now May simply proves yet again that nothing...
View ArticleClik here to view.
The Weakness Is Really Different Now
If there is any wonder why PMI’s deserve scorn, this morning’s twin bill delivered solid reasoning. Both the ISM Manufacturing Index and the Markit Manufacturing PMI declined, and both remained above...
View ArticleClik here to view.
ISM, Too
Everything I wrote in my last post on China’s PMI’s could be rewritten and reworded for the ISM version of American industry. The index rebounded to above 50 in March for the first time since last...
View Article
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