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The Philadelphia fed manufacturing index came in at -19,3. This is pretty significant and a huge drop!
This is the 3rd worst print in 10 years!
cc @saxena_puru @MBjegovic @DaveHcontrarian @leadlagreport @HenrikZeberg
The same people that told you to spend, not worry about inflation, not worry about burrowing rates rising anytime soon are also now adamant that what they are breaking is of no concern as they will “fix it” once they accomplish their inflation goals.
Remember there is no such thing as “your currency is going down”.
They all are.
It’s just that the other currencies are more stable than yours and on a relative basis yours is depreciating faster.
The standard American diet is heavy on corn and corn byproducts.
This seems to indicate that Corn production is down…
Things to think about 🤔
This is a really cool graphic that gives you a great idea of demographics and there is a lot of implications of this data.
