Equity futures are higher this morning despite S&P downgrades for France, the European Bailout Bozos, and much the rest of Europe. Of course it means the math gets worse with higher interest rates which deepens the spiral of impossible math, more printing, even more impossible math and so on… each event quickening the pace of events. Phony bond auctions where “success” is due to the creation of money to make them “successful” leads only to higher numbers for the things people on the planet need to live.
Equities are thus higher, bonds are close to even, the dollar is weaker, oil is back over $100, and food commodities are higher too. Notice how the weekends are used to ramp over resistance? Complete control by those who make money from nothing, own the exchanges, and use that money to create an artificial marketplace designed to suck in the productivity of people who are truly productive, unlike them.
The “Fed’s” Empire State Manufacturing Index picked up to 13.48 in January, up from 9.53, and thus beating expectations. Here’s the spin from Econocomplicit:
Manufacturing activity in the New York region is picking up nicely so far this month with growth back at a healthy hum. The Empire State index rose more than 5 points to 13.48 with the 6-month outlook up nearly 10 points to 54.87. Levels, after sinking in an 8-month hole, are now back where they were during the first half of last year.
Details show strength in new orders and, in a stand out result, strength in employment. Shipments are strong and inventories are being rebuilt. Contraction in delivery time points to plenty of spare capacity to be drawn on should activity continue to pick up steam. Negatives in the report are continuing declines in the sample's backlog orders and a jump higher in the cost of inputs, one that's likely tied to rising energy prices. But today's report is on balance very positive and, in what is the calendar's first look at January, points to building momentum for the manufacturing sector.
Oh, is manufacturing still a sector in our economy? I nearly forgot as it’s so small it’s hardly worth mention, unless you like counting military hardware and hamburgers.
Of course all of Europe and much of the developing world are re-entering recession as austerity is foisted upon them while trillions are funneled to the bankers. Here in the U.S., we are just liars and self-delusional Prozac junkies unable to acknowledge reality. The talk here is that the economy is “growing” and looking up, LOL. And if that’s true, then why, oh why, is the BDI sliding into the Abyss, Part III?
Oh yeah, manufacturing is growing, sure. That’s why shipping rates are plummeting.
It’s a so-so week for economic data, we’ll see CPI and Existing Home Sales later in the week. It seems the sport has become watching the size of the auctions and overnight deposits grow, like the record setting 501.9 billion Euros the ECB took in last night.
Bill Still sees reality for what it is and gives a good lesson in how those who create money from nothing use that money to buy both sides of the political spectrum, thus completely capturing our government! This is exactly why nothing will change until other events force the people to separate money from politics. Good video Bill!
I, Nathan Martin, no longer consent to the lies.