If Ya Can't Beat 'Em, Join 'Em
I'm a Hessian without no aggression. (think about it....) If Barack Obama insists that this is "RECOVERY SUMMER!!!!!", fine, it's "RECOVERY SUMMER!!!!!"
So let's celebrate "RECOVER SUMMER!!!!!" with two more pieces of superduper fantastic economic news!
Ready?
***Sharpest drop in manufacturing in past year
From the Assholiated Press:
New evidence of a slowing economic rebound emerged Thursday in reports that manufacturing activity is slowing after helping drive the early stages of the recovery.
Factory output fell in June, according to a government report on industrial production. It was the sharpest monthly drop in a year. And two regional manufacturing indexes sank this month. …
Separately, the Labor Department said wholesale prices fell for a third straight month. Prices were pulled down by a drop in energy costs and the biggest plunge in food costs in eight years. But excluding those two volatile commodities, inflation was nearly flat. …
Adding to concerns in the manufacturing sector were steep drops reported Thursday in the Empire State and Philadelphia Fed Manufacturing indexes.
Know how good this news is? The AP didn't say it was "unexpected". Happy days are here again! And we owe it all to our lord and savior, Barack Hurray! Obama!
Remember now, this is an AP blue plate special of maxiorgasmic boom-times joy! If you thought a manufacturing collapse was a Baracksend, you ain't seen NOTHING yet!
***Homebuilder confidence hits 16-month low
From the Alimentary Press:
Homebuilders’ confidence in the housing market has sunk to the lowest level in more than a year, more evidence that the economic recovery is slowing.
The National Association of Home Builders said Monday its seasonally adjusted housing market index fell to 14 in July. It was the lowest level since March 2009. June’s index level was revised downward to 16.
Readings below 50 indicate negative sentiment about the market. The last time the index was above 50 was in April 2006 [Who was President then? Hmmmm....].
Builders are reporting a sharp drop in the number of buyers looking for new homes now that federal tax credits of up to $8,000 have expired. Those incentives ended on April 30, although buyers who signed contracts by then have until September 30 to complete purchases.
Oh, don't get mad at those wascawy Wepubwicans, my friends. Remember, now we live in Baracko World, where up is down, evil is good, and poverty and depression are avaricious prosperity. Wealth and plenty don't come from feeding the greed of da peepul by letting them keep more of what they earn through their own honest, entreprenuerial labor; wealth comes from the benevolent state cornucopeia, a magical device operated by our "some kind of a god" that takes everything we have and gives us back a small pittance of it and yet somehow makes that more than we could have ever imagined before our trip to the neighborhood re-education center, with its magical state pharmacopeia.
All we need to do is get on our knees and pray to The One that he will shower his mercy on the manufacturing sector by nationalizing it with the breath of his omniscient wisdom, and limitless unionized jobs will be ours! Just one more extention of the $8,000 first time homebuyers' credit and everybody will have a mansion of their very own!
Oh, think twice, for it's another day for you and me in Obamadise! Every meal is a banquet! Every welfare check a fortune! And ignorance is bliss! I LOVE Obamerika!
Don't ever wake us up from this dream, Barry. Because then we might discover just how thoroughly you've screwed up this country. And a horrible mass vengeance could descend upon you in a very short period of time.
Kinda like it did for this bug (at the 5:35 mark):
Oops, too late.
Electorally speaking, of course.
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Continuing the peachy-keen housing construction news from yesterday is this barnburner of sunny optimism: Home construction plunged last month to the lowest level since October as the economy remained weak and demand for housing plummeted. But driving ... Read More
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