The Institute for Supply Management’s factory index dropped to 54.4 from 56.3 in August, the Tempe, Arizona-based group said today. Readings greater than 50 signal growth and economists forecast a decline to 54.5, according to the median estimate in a Bloomberg News survey. Measures of orders and production fell to the lowest level since June 2009.
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Comment: The Keynesian multiplier has gone into reverse. The stimulus did not only not improve the economy, it made the economy worse. Obama doesn't know anything about economics and his economic team is even worse. Bernanke knows a lot about the economy but what he knows is mainly false. So what can you expect? Another explanation, other than sheer ignorance, would be that evil men are at the top who intentionally are up to bring America to its knees.
Do you track manufacturing and food production? Specifically what % of these items are produced in U.S.A vs shipped in from another country? I have been noticing that many common food items like beef and vegetables are not grown here.
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