from Zero Hedge:
Total collapse.
That is the only way to explain what just happened with the Chicago
PMI which imploded from 52.4, and printed at a contractionary 49: the
first sub-50 headline print since September 2009. But that’s not all:
Deliveries, Prices Paid and Production all hit their lowest since 2009;
Backlogs posted their tenth month of contraction in the past 12
months. And what’s worst for the Department of Making Shit Up,
Employment plunged from 551. to 48.7, its third month over month
decline. Actually another way to phrase it: complete disaster. Obviously
this number explains why S&P should have no problems crossing
1,600 today. Because for that other Department: of Propaganda and
Creating money out of thin air, this means only one thing: the Fed is
preparing to print ONE KROOGOL MORE!
Read More @ ZeroHedge.com
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Total collapse.
That is the only way to explain what just happened with the Chicago
PMI which imploded from 52.4, and printed at a contractionary 49: the
first sub-50 headline print since September 2009. But that’s not all:
Deliveries, Prices Paid and Production all hit their lowest since 2009;
Backlogs posted their tenth month of contraction in the past 12
months. And what’s worst for the Department of Making Shit Up,
Employment plunged from 551. to 48.7, its third month over month
decline. Actually another way to phrase it: complete disaster. Obviously
this number explains why S&P should have no problems crossing
1,600 today. Because for that other Department: of Propaganda and
Creating money out of thin air, this means only one thing: the Fed is
preparing to print ONE KROOGOL MORE!Read More @ ZeroHedge.com
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