Purchasing Managers' Indexes (PMI)
are economic indicators derived from monthly surveys of private sector companies.
The data for the index are collected through a survey of 400 purchasing managers
in the manufacturing sector on seven different fields,
namely, production level, new orders from customers, speed of supplier deliveries,
inventories, order backlogs and employment level.
It hasn't been this bad for US manufacturing since the financial crisis
A preliminary reading of activity in May
showed that output fell for the first time since the peak of the Great Recession.
The world has been addicted to monetary heroin,
and it appears we may overdose, as the high wears off
as ever larger doses of pretend money are injected into the patient
that is our global economy
Notice tightening lending standards bottom right;
"Upside" to high yield spreads is a bad thing
Japan is getting crushed,
and the pain will spread to its trading partners;
The Federal Reserve and other central banks
prevented the cleansing of the economy,
leaving those who caused the financial crisis to stay in place without consequence;
Falling commodity prices = Falling demand = Falling employment = Deflation = More Cow Bell
Fubar either way;
Buybacks falling = less money going into financial markets = ....
Shit's getting real
