The ‘Experts’ would have you believe we are hurtling towards recession and Trump will lose re-election.
Yesterday the pundits made a big deal out of sharp drop in the Empire State Mfg. Index reporting – 8.7 v +10.0 expected for June, and down from + 17.8 May Report. Funny how the pundits failed to mention the May Empire State Mfg. Index (+17.8) when it strongly contradicted contraction in PMI and ISM reporting.
Not a peep last Friday either when April Retail Sales were revised sharply higher from – 0.2 to + 0.3. May reported + 0.5 v + 0.7 expected. Industrial Production for May also rebounded reporting + 0.4 v + 0.2 expected; while Capacity Utilization reported 78.1% v 78.0% expected; up from April report of 77.9%.
There is also no mention of the Fed over-reaching last September and December triggering year-end sell off. .25 Rate cut in play tomorrow, is simply undoing a bit of the mess the Fed created last year.
Unless it fits the False Narrative promoting a failing economy or supports an argument for recession; economic reporting is ignored.
You might also want to ask yourself why the pundits aren’t pressing Pelosi on a vote for ratification of USMCA (Units States Mexico Canada Agreement – replacing NAFTA) which passed unanimously out of Committee and is sure to pass the Senate.
Just more proof why you need to have your own filters, do your own digging, and trust your own reasoning.
Aligned Media reporting is corrupt; however entertaining for those who can do the math.