BIDEN ECONOMY: Business Activity Slumps as Manufacturing and Services Contract More Than Expected

[JGalt]

Just another bad day in Biden's America. Of course the story is from the Gateway Pundit, so the Biden-lovers will say "Everything's coming up rainbows and unicorns."

"The results for November’s PMI are not good. FXStreet reports:

The business activity in the US service sector continued to contract at an accelerating pace in early November with the S&P Global Services PMI dropping to 46.1 from 47.8 in October. This print missed the market expectation of 47.9.

“In line with weak demand, new business fell at a solid pace in November,” S&P Global elaborated. “The second successive monthly decrease in new orders was the sharpest seen since May 2020.”

Manufacturers are slowing in production due to the lack of demand. The lack of demand is related to high inflation. The 40-year-high inflation is related to Biden’s energy-killing policies that have moved America from energy independence to begging for oil overseas."

BIDEN ECONOMY: Business Activity Slumps as Manufacturing and Services Contract More Than Expected

 

[johngaltshrugged]

It's a good thing we have MSM around to tell us how all the bad news is just misinformation or simply misleading.
When DT gave us a great economy, it was all because of Barry.
When Pedo Joe crashes the economy, it's all DT's fault.

 

[Rambunctious]

The media isn't covering it but a lot of people have lost their jobs just in time for Christmas.... if Trump were president it would be front page news not a war in Ukraine.....

 

[Winston]

Just another bad day in Biden's America. Of course the story is from the Gateway Pundit, so the Biden-lovers will say "Everything's coming up rainbows and unicorns."

"The results for November’s PMI are not good. FXStreet reports:

The business activity in the US service sector continued to contract at an accelerating pace in early November with the S&P Global Services PMI dropping to 46.1 from 47.8 in October. This print missed the market expectation of 47.9.

“In line with weak demand, new business fell at a solid pace in November,” S&P Global elaborated. “The second successive monthly decrease in new orders was the sharpest seen since May 2020.”

Manufacturers are slowing in production due to the lack of demand. The lack of demand is related to high inflation. The 40-year-high inflation is related to Biden’s energy-killing policies that have moved America from energy independence to begging for oil overseas."

BIDEN ECONOMY: Business Activity Slumps as Manufacturing and Services Contract More Than Expected

The 40-year-high inflation is related to Biden’s energy-killing policies that have moved America from energy independence to begging for oil overseas.

U.S. Imports of Crude Oil (Thousand Barrels)

www.eia.gov

U.S. Field Production of Crude Oil (Thousand Barrels)

Joe Hoft, earning his reputation as the dumbest man on the internet.

 

[Harpy Eagle]

The media isn't covering it but a lot of people have lost their jobs just in time for Christmas....

How many?

 

[Harpy Eagle]

The 40-year-high inflation is related to Biden’s energy-killing policies that have moved America from energy independence to begging for oil overseas.

U.S. Imports of Crude Oil (Thousand Barrels)

www.eia.gov

U.S. Field Production of Crude Oil (Thousand Barrels)

Joe Hoft, earning his reputation as the dumbest man on the internet.

Thanks for showing that US imports of oil are lower now than any time under Trump except during COVID

 

[Rambunctious]

How many?

80,000 in the tech sector alone with more promised....

Tech Layoffs: US Companies With Job Cuts In and 2023 and 2024

Tech layoffs: More than 300,000 workers at US-based tech companies have been laid off in mass job cuts since the start of 2022, with the cuts continuing in 2024.

news.crunchbase.com

 

[Rambunctious]

How many?

Tech Layoffs: US Companies With Job Cuts In and 2023 and 2024

Tech layoffs: More than 300,000 workers at US-based tech companies have been laid off in mass job cuts since the start of 2022, with the cuts continuing in 2024.

news.crunchbase.com

Why layoffs are happening in US?


Reports say that more job cuts are coming soon. Corporate America is drastically reducing its workforce....

 

[Rambunctious]

How many?

Massive spike in unemployment coming soon; layoffs in America hit over 120,000

Corporate America is drastically reducing its workforce as part of its restructuring efforts to prepare for a probable economic downturn brought on by the U.S. Federal Reserve's fight against inflation and the war in Ukraine.

economictimes.indiatimes.com

 

[Winston]

Massive spike in unemployment coming soon; layoffs in America hit over 120,000

Corporate America is drastically reducing its workforce as part of its restructuring efforts to prepare for a probable economic downturn brought on by the U.S. Federal Reserve's fight against inflation and the war in Ukraine.

economictimes.indiatimes.com

You can't bitch about inflation and then complain when the methods used to address it start causing unemployment. I mean that is like having the shits and then complaining about the taste of the Pepto-Bismol. Personally, I would rather have the shits, and I would rather suffer through the inflation.

Many economists, and myself, warned about this months ago. The FED is reactive, not proactive, and is constantly chasing a target with metrics months behind the status quo. The Phillip's curve is real and there is a tradeoff between unemployment and inflation. Lower inflation, higher unemployment, and that has become especially apparent in a post-Covid world that is just beginning to deal with that transistion.

This is not on Biden. This is on the FED, and it is on Putin, whose Parkinson's demented ass couldn't have picked a worse time to start a war, for the world and for Russia. He finally croaks, or his killed, and the FED reigns in it, will be the point that we begin to recover. Both have to happen.

 

[Harpy Eagle]

Tech Layoffs: US Companies With Job Cuts In and 2023 and 2024

Tech layoffs: More than 300,000 workers at US-based tech companies have been laid off in mass job cuts since the start of 2022, with the cuts continuing in 2024.

news.crunchbase.com

Why layoffs are happening in US?


Reports say that more job cuts are coming soon. Corporate America is drastically reducing its workforce....

Tech companies as big as Netflix have slashed jobs this year, with some citing the effects of the COVID-19 pandemic and others pointing to overhiring during periods of rapid growth. Robinhood, Glossier and Better are just a few of the tech companies that have notably trimmed their headcount in 2022.

 

[Rambunctious]

You can't bitch about inflation and then complain when the methods used to address it start causing unemployment. I mean that is like having the shits and then complaining about the taste of the Pepto-Bismol. Personally, I would rather have the shits, and I would rather suffer through the inflation.

Many economists, and myself, warned about this months ago. The FED is reactive, not proactive, and is constantly chasing a target with metrics months behind the status quo. The Phillip's curve is real and there is a tradeoff between unemployment and inflation. Lower inflation, higher unemployment, and that has become especially apparent in a post-Covid world that is just beginning to deal with that transistion.

This is not on Biden. This is on the FED, and it is on Putin, whose Parkinson's demented ass couldn't have picked a worse time to start a war, for the world and for Russia. He finally croaks, or his killed, and the FED reigns in it, will be the point that we begin to recover. Both have to happen.

Hey... I'm just the messenger.... people are going to lose jobs... and not McDonalds jobs but good paying career type jobs....
Think of it as you will there will be pain in America....

Google is next....

 

[Rambunctious]

Tech companies as big as Netflix have slashed jobs this year, with some citing the effects of the COVID-19 pandemic and others pointing to overhiring during periods of rapid growth. Robinhood, Glossier and Better are just a few of the tech companies that have notably trimmed their headcount in 2022.

Google and Amazon are next... Walmart to follow.... and then manufacturing will be next...

 

[Harpy Eagle]

Google and Amazon are next... Walmart to follow.... and then manufacturing will be next...

All this wishful thinking on your part will not cause it to happen.

But hey, you keep doing you and praying for pain for the American people.

 

[Rambunctious]

All this wishful thinking on your part will not cause it to happen.

But hey, you keep doing you and praying for pain for the American people.

I'm reporting what is being reported.... I don't wish for this that's why I didn't vote for Biden because I knew it would happen... unlike you who voted for Biden like a fool....

 

[Harpy Eagle]

I'm reporting what is being reported.... I don't wish for this that's why I didn't vote for Biden because I knew it would happen... unlike you who voted for Biden like a fool....

You are posting your Christmas wish list, do not be shy about it now.

And we both know I did not vote for Biden

 

[Rambunctious]

You are posting your Christmas wish list, do not be shy about it now.

And we both know I did not vote for Biden

Its not fake news... you even admitted yourself jobs are being cut... so what's your major malfunction?... deny what you fear until you can't no longer....

 

[Harpy Eagle]

Its not fake news... you even admitted yourself jobs are being cut... so what's your major malfunction?... deny what you fear until you can't no longer....

Yes, some Tech companies over expanded during their COVID boom, now they are coming back to earth. It was bound to happen

 

[Rambunctious]

Yes, some Tech companies over expanded during their COVID boom, now they are coming back to earth. It was bound to happen

Its happening because the economy sucks... if you want to live a blind existence go ahead... Biden has fucked us...

 

[Harpy Eagle]

Its happening because the economy sucks... if you want to live a blind existence go ahead... Biden has fucked us...

Sorry your life is so shitty, but do not assume all of us are in such a crappy spot as you