New York "manufacturing index" drops by near-record amount--huge contraction. But don't worry...

Because New York was settled early in our nation's history, and NYC had such a huge population, the area around NYC had a LOT of manufacturing.  So the state created its own "manufacturing index" to see how things were going.

A positive number shows growth, negative obviously contraction.  "Experts" expected the latest number to be plus-5, indicating good growth.  

"Unexpectedly" (as with most expert predictions today) the index actually turned out to have fallen to MINUS 31.3 this month--a drop of 42.4 points, with the negative number showing a huge contraction.

According to the New York Fed this is the second largest monthly decline on record and among the lowest levels in the survey's history.

The index for new orders dropped 35.8 points to MINUS 29.6.  The "shipments index" fell 49.4 points to a MINUS 24.1.

And it wasn't just New York: In July economic "experts" predicted Philadelphia's manufacturing index would fall to zero.  "Unexpectedly" it fell to negative 12.3.  The index for new orders declined for the second consecutive month, from -12.4 to -24.8.

If you or I were as wrong in my job as frequently as these "economic experts," we'd be fired.  But that's not the main point of my posting this.

As another wag noticed, the forecasts of the so-called "experts" are always wrong on the "faaaabulous" side when Democrats rule things, and are always wrong on the "doom/despair" side when a Republican is president.  Odd, eh?  Almost makes ya think there's some plan there.

Interestingly, according to the biden regime all these near-record declines are NOT bad news, and certainly not a sign that we're in a recession.  No no no, citizen!  Instead these numbers show that the nation "is in a transition to a stable, booming economy."  Yay!  GOOD NEWS, eh?

Well if that was true, sure.  And if you're a typical Democrat, that's what you believe, right?

Say, ya know what would fix this?  Another trillion dollars of gruberment spending on boondoggles, like the deliberately mis-named "Inflation Reduction Act."  White elephants!  Grift and corruption and kickbacks!  Yeh, dat's da ticket!

Now: If you're a typical Democrat you have no idea whether the huge, near-record drop in the NY and Philly manufacturing indices are real.  And if truth be told, you actually don't care--because your Dear Leader, Porridgebrain, said we're not in a recession!  (We've got it on video.)  And the Mainstream Media dutifully, slobberingly, fawningly echoed that, without a single critical word.

If you're an FBI agent or a politician or school teacher or other gruberment employee, you don't care because your gruberment paycheck insulates you from recessions.  Yay!  So who cares what some silly "index" for some faraway state says, eh?  Ain't nothin' to you liberals in DC or Chitcongo or San Fran or LA, right?

Ah.  Well.  You may not be interested in reality, but that doesn't insulate you from reality.  Well, unless you're wealthy or connected or a gruberment employee or pol.

So the point of this post was to put my marker down: to call your attention to a distant number you never knew existed (which isn't your fault, of course), and to tell you what it means to you.  Six months from now you'll have a much better idea.  And finally--*finally*--you may realize that your wunnerful Democrat party has been lying to you.  About everything.

Of course I may be wrong.  Guess we'll see. 

Source.