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Politics : President Barack Obama -- Ignore unavailable to you. Want to Upgrade?

To: tejek who wrote (128331)	12/3/2012 6:57:44 PM
From: RetiredNow	Read Replies (1) \| Respond to of 149317

Tell me something I didn't know. - tejek Did you know that industrial production in almost every country in the world except China is in recession territory? And now the US ISM is contracting as well? ---------------- ISM: 49.5, The Suck Continues Well now this isn't good at all... The report was issued today by Bradley J. Holcomb, CPSM, CPSD, chair of the Institute for Supply Management™ Manufacturing Business Survey Committee. "The PMI™ registered 49.5 percent, a decrease of 2.2 percentage points from October's reading of 51.7 percent, indicating contraction in manufacturing for the fourth time in the last six months. This month's PMI™ reading reflects the lowest level since July 2009 when the PMI™ registered 49.2 percent. Oops. So where are the problems? In a few places -- and not in good ones either. Employment is now negative, for openers. Adding to the negative is inventories both at suppliers *and customers, making clear that customers are refusing to order replacement product and carry inventory. New orders remained barely* positive at 50.3 and order backlog remains strongly negative at 41. In addition both exports *and* imports are below the midline, destroying any argument that "exports will help us." Nope. This is not a good report, and the drop in employment is a particularly-ominous indicator, coming in front of the NFP on Friday. *Here it comes!* (Recession, that is.)