Raising the specter of recession today is this news...
The numbers: American manufacturers posted the biggest contraction in September since the end of the 2007-2009 recession, reflecting a slowdown in the U.S. and global economies made worse by a tense trade war with China.
As I predicted, Jay Powell and the Federal Reserve have allowed the Dollar to get so strong, especially relative to ALL other currencies, that our manufacturers are being negatively affected. Fed Rate too high. They are their own worst enemies, they don’t have a clue. Pathetic! Another bad sign: Only three of the 18 U.S. manufacturing industries tracked by ISM reported growth, down from nine in the prior month.
A three-week strike at General Motors GM, -1.97% likely contributed to the poor index reading, but it’s unclear how much. Comments from executives suggested the manufacturing industry’s weakness goes deeper.A similar manufacturing survey by IHS Markit, meanwhile, registered 51.1 in September.
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