To: Little Joe who wrote (129135 ) 12/26/2012 11:52:41 AM From: RetiredNow 1 Recommendation Read Replies (1) | Respond to Exactly so. That's what is scary about all this. The actors are playing parts that were laid out of them and it is all so logical. No one seems to be questioning the underlying premise of the path we're headed down. Everyone is convinced that our leaders, the neo-Keynesians are correct and that everything will come up roses.Richmond Fed: +5 (Down 4) Meh.... In December, the seasonally adjusted composite index of manufacturing activity—our broadest measure of manufacturing—lost four points, settling at 5 from November’s reading of 9. Among the index’s components, shipments fell five points to 6, the gauge for new orders was almost unchanged at 10, and the jobs index turned negative, losing six points to -3. Nothing here that's good. November's surprise positive read is now bleeding off, and the awful is found in the employees and workweek, both of which turned negative. there is no backlog. say doing It's even worse in the service sector: Retail sales dropped in December, dragging November’s index down twenty-seven points to a reading of -13. The index for shopper traffic also dropped into negative territory, ending at -18, following November’s 23. Furthermore, big-ticket sales withered, pulling that index down seventeen points to -31 this month. Retail inventories rose slightly, with the index at 6 following last month’s reading of -1. Merchants expected a weak market in the first half of the new year. The index for expected product demand fell to -24 in December from -3. Retail employment declined this month, with the index for the number of employees falling to -21 from the previous reading of -13. The index for average wages lost twelve points, settling at -4. Yeah, Christmas was going to be ok..... oops. NOT deeply shopper traffic was -18 from +23 last month Here it comes!
