Back to the Past

Following this morning's "unexpectedly" weak June Institute for Supply Management report, we now have manufacturing PMI readings for key economic zones -- Europe, China, Japan, and the U.S. -- sitting below the levels that prevailed at the start of the 2007 recession.

While that doesn't necessarily mean we are headed for another synchronized global downturn, it does suggest that now is not the time to be thinking like some clueless equity trader or Wall Street "strategist."

Comments

[roger]

So manufacturing doesn't drive or affect the economy----the
FED does, keep an eye on helicopter Ben,learn to gamble on his speculations, this must be the NEW CAPITALISM.
These guys on Wall Street hooo,so smart!

[David Clumpner/ archivesDave]

Very interesting Mike..
Please give us your take on a potential 'hair cut' & Harry Dent's prognosis.

[converse all star]

Kenbe yon je sou elikoptè Ben, aprann jwe jwèt aza sou spékulasion l 'yo, sa a dwe mesye yo CAPITALISM.These NOUVO sou miray hooo Street, se konsa entelijan! Ou sètènman gen kèk opinyon agreyab ak opinyon. Blog ou a bay yon gade fre nan sijè a.

[Tom]

Oh, the wheels will probably come off right around September if history is any guide. i'm leaning toward the entire global financial system being effected, supply lines, especially with respect to food, will shrink or be cut and chaos will reign. It's back to the Dark Ages in my view - GOD, i hope i'm wrong!

[roger]

Coincidence is not a cause,the convergence of a majority of
negatives is,in my opinion the present state indicates a
perfect storm is in the making, a look at the productive
sector (all things manufactured) the retail sector,imports
exports, transportation,financial institutions,labor force,
government services, service sector,the global economic health, all are either stagnant or on the down side,on the
political side there is gridlock or downright antagonism.