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ISM Rebound Fails To Materialize, As Production Dives To Crisis-Era Levels; New Export Orders Surge
Two months ago, ISM manufacturing slumped into contraction stateside, as the global factory malaise triggered in part by the trade war finally boomeranged, making landfall in the US.
Sub-50 ISMs need not necessarily presage a recession, but markets were not amused early last month, when September's ISM print validated the manufacturing contraction tipped in the August number. Nor was anyone particularly excited when ISM services printed a three-year low, suggesting some spill over to the part o
I expect Kudlow to criticize Warren. But when you’re the guy who predicted in early 1993 that the Clinton presidency would cause the market to crash, and then told everyone in 2007 that the market would be just fine, maybe you shouldn’t use your stock market predictions as the basis for your critique.
https://www.nytimes.com/2018/03/15/business/larry-kudlows-not-so-on-the-money-predictions.html
https://www.washingtonexaminer.com/news/i-plead-guilty-larry-kudlow-admits-he-was-wrong-about-2008-recession
My apologies. That post was obviously meant for the article about Kudlow predicting that Elizabeth Warren’s presidency would make the market evaporate.