U.S. Empire State index plunges to 12.6 in August

[UpInArms]

http://cbs.marketwatch.com/news/newsfinder/pulseone.asp?guid={FC130EBA-A727-4F7D-A63F-903743E41449}&siteid=mktw

WASHINGTON (CBS.MW) -- Manufacturing activity in the New York area slowed dramatically in August, the New York Federal Reserve Bank said Monday. The bank's Empire State Manufacturing index plunged to 12.6 in August from 35.6 in July. This index is at its lowest level since May 2003. But the index is still above zero, which indicate expansion. Aside from a slight dip in March, the Empire State index has been above 30 since last October. Economists were expecting the index to slip only to about 31.8 in August.

...a tiny bit more at link...

[HysteryDiagnosis]

1. Adding insult to injury.....

Imagine if our paradigm, here in this place.... were to try and have no more than you need.... and even less of what you want. I guess that rings of a social democrat... but look at the consequences of our present paradigm.


"24.9 percent of American children live in poverty, while the proportions in Germany, France and Italy are 8.6, 7.4 and 10.5 percent. And once born on the wrong side of the tracks, Americans are more likely to stay there than their counterparts in Europe. Those born to better-off families are more likely to stay better off. America is developing an aristocracy of the rich and a serfdom of the poor - the inevitable result of a twenty-year erosion of its social contract."
Will Hutton

[AndyTiedye]

3. How About Less of What We Don't Want

I don't think that came out quite the way you meant it to.

> try and have no more than you need....

> and even less of what you want.

So if you both need something and want something,
you should have less than you need.

We could do with a lot less of what we don't want
like junk mail, and unnecessary wars.

[Zynx]

2. The slowdown is clearly upon us now.

When the Philly Fed is released later this week it will become even more apparent.