Massdriver Posted August 2 Share Posted August 2 Job growth totals 114,000 in July, much less than expected, as unemployment rate rises to 4.3% WWW.CNBC.COM Nonfarm payrolls were expected to increase by 185,000 in July, according to the Dow Jones consensus estimate. Quote Link to comment Share on other sites More sharing options...
Commissar SFLUFAN Posted August 2 Share Posted August 2 Hence the reason why everything is flashing "red" today and the sense that a Fed rate cut next month is a lock. Quote Link to comment Share on other sites More sharing options...
Massdriver Posted August 2 Author Share Posted August 2 reuters.com WWW.REUTERS.COM Quote WASHINGTON/LONDON, Aug 1 (Reuters) - Manufacturers across the United States, Europe and Asia turned in a weak performance last month as factories grappled with tepid demand, surveys showed on Thursday, raising the risk of an underpowered global economic recovery. A measure of U.S. manufacturing activity dropped to an eight-month low in July amid a slump in new orders, echoing a broadbased downturn in the euro zone while a slump in China's manufacturing activity suppressed its Asian neighbours. Quote The Institute for Supply Management's U.S. manufacturing Purchasing Managers' Index (PMI) dropped to 46.8 last month, the lowest reading since November, from 48.5 in June. A PMI reading below 50 indicates contraction in the manufacturing sector, which accounts for 10.3% of the world's largest economy. This was another piece of data that is playing into this hard landing panic. Quote Link to comment Share on other sites More sharing options...
finaljedi Posted August 2 Share Posted August 2 Somewhere deep in a cave Larry Summers feels a stirring in places he thought had atrophied. 2 Quote Link to comment Share on other sites More sharing options...
ThreePi Posted August 2 Share Posted August 2 Japan raising interest rates and US lowering them right before I go back to Japan at the end of September is a double whammy of "fuck you." The exchange rate peaked at 160 yen to USD earlier this month and is back down to 145. 1 Quote Link to comment Share on other sites More sharing options...
finaljedi Posted August 2 Share Posted August 2 Yeah, I'm headed to the Philippines this fall and I'm wondering if I'm about to get screwed on that too. Quote Link to comment Share on other sites More sharing options...
Uaarkson Posted August 2 Share Posted August 2 Fuck you bitches going on overseas vacations and still complaining 2 2 3 Quote Link to comment Share on other sites More sharing options...
SuperSpreader Posted August 2 Share Posted August 2 19 minutes ago, Uaarkson said: Fuck you bitches going on overseas vacations and still complaining Quote Link to comment Share on other sites More sharing options...
Massdriver Posted August 2 Author Share Posted August 2 If these pieces of data really do indicate a recession, it could hit at just the wrong time for Harris. Quote Link to comment Share on other sites More sharing options...
Jason Posted August 2 Share Posted August 2 1 hour ago, ThreePi said: Japan raising interest rates and US lowering them right before I go back to Japan at the end of September is a double whammy of "fuck you." The exchange rate peaked at 160 yen to USD earlier this month and is back down to 145. I'm still salty at missing going to Europe while the euro was at par. 145 yen to the dollar is about where it was last summer though and it was still pretty cheap being there given that in Japan food and drinks are quite a bit cheaper to begin with. Quote Link to comment Share on other sites More sharing options...
Signifyin(g)Monkey Posted August 2 Share Posted August 2 38 minutes ago, Massdriver said: If these pieces of data really do indicate a recession, it could hit at just the wrong time for Harris. Yep. Hopefully an interest rate cut at the next FOMC meeting and the historically low (even after the recent increases) unemployment rate mitigates the damage. Soft landings are still landings; if we’re lucky this will turn out to just be turbulence as the wheels hit the runway. If not…well we can all do the math. Quote Link to comment Share on other sites More sharing options...
b_m_b_m_b_m Posted August 2 Share Posted August 2 At this point I think the weather on Election Day will have more of an impact on the election than any turn in the economy (barring a precipitous drop) Quote Link to comment Share on other sites More sharing options...
SuperSpreader Posted August 2 Share Posted August 2 2 hours ago, b_m_b_m_b_m said: At this point I think the weather on Election Day will have more of an impact on the election than any turn in the economy (barring a precipitous drop) START THE WEATHER MACHINES CONTRAILS 1 Quote Link to comment Share on other sites More sharing options...
TheLeon Posted August 2 Share Posted August 2 Well, my rent went up $25 this month, so I’m really feeling the economic impact of this. 1 Quote Link to comment Share on other sites More sharing options...
chakoo Posted August 3 Share Posted August 3 11 hours ago, ThreePi said: Japan raising interest rates and US lowering them right before I go back to Japan at the end of September is a double whammy of "fuck you." The exchange rate peaked at 160 yen to USD earlier this month and is back down to 145. I know the exchange rate was really bad for Japan and affected a large contract at my last job but man it was great buying too many games from Japan at the peak. =/ Quote Link to comment Share on other sites More sharing options...
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.