Stagflation!
The marquee gauge of US factory activity slipped back below the threshold separating expansion from contraction in April, while an underlying measure of price pressures rose sharply.
At 49.2, the ISM manufacturing print disappointed consensus, which expected the headline to remain north of the 50 demarcation line for a second month.
The two key underlying momentum measures, production and new orders, both slipped meaningfully, with the latter falling into contraction territory.
Meanwhile, t
This is pretty much the worst economic setup in an election year Biden could see. I think we all know what comes next. Have a plan.
If only those with the resources to implement a plan would use their time/money/connections to help prevent the worst from happening instead of being ready to move to New Zealand.
That sounds noble, but the problem is it takes a lot less time/money/connections to have a plan than it likely will to prevent the worst. Call me cynical, but being childless, well…motivation to fight isn’t so strong.
Sounds very romantic. The echo chambers of cult members are impenetrable regardless of resources. As the DNC.
Blognonymous: A plan? Thinking tropical island…..if we’re going to turn into a banana republic, might as well go to a real one, with lots of bananas, beaches, tradewinds and warm clear seas!