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MAGA Economy Dealt Another Body Blow As ISM Dives Into Contraction
In yet another grievous blow to the MAGA economy, ISM manufacturing fell into contraction territory in August, a development many observers feared, but economists failed to bake in despite clear signs of economic deceleration stateside.
The gauge printed 49.1 for August, missing consensus (51.3) by a country mile and coming in below the most pessimistic estimate from 65 economists surveyed (the range was 49.5-52.5).
It was the lowest reading since January of 2016.
The breakdown is bad. New
Don’t tell the markets, the SQQQ’s should be in the 60’s now not in the 30’s! When will this market fall apart? I need to get back to breakeven. SELL it all already!!
Or perhaps the stable genius seeks to remedy the situation in order to get reelected? In that case, I cannot wait to squeeze your short position like a teenage pimple
Wait for the tweets when the final BLS adjustment shows 500k less jobs than the reports have said