What words do you say? Well, check it out for yourself:
Manufacturing (NAPMPMI) in the U.S. unexpectedly shrank in May at the fastest pace in four years, showing slowdowns in business and government spending are holding back the world’s largest economy.
The Institute for Supply Management’s factory index fell to 49, the lowest reading since June 2009, from the prior month’s 50.7, the Tempe, Arizona-based group’s report showed today. Fifty is the dividing line between growth and contraction. The median forecast of 81 economists surveyed by Bloomberg was 51.
Across-the-board federal budget cuts and overseas markets that are struggling to rebound will probably continue to curb manufacturing, which accounts for about 12 percent of the economy. At the same time, demand for automobiles, gains in residential construction and lean inventories may spark a pickup in orders and production in the second half of the year.
“Manufacturing is really stymied by slow corporate spending and government spending cutbacks,” said Guy LeBas, chief fixed-income strategist at Janney Montgomery Scott LLC in Philadelphia, who was the only analyst in the Bloomberg survey to correctly project the drop in the index. “Manufacturing will grow at a modest pace this year” although it “is unlikely to accelerate in coming months,” LeBas said. “This is part of the slower expansion we’ll have in the second quarter.”
So, the thing is that our socialists masters have destroyed the world’s economies with their idiotic policies and campaign to make government the arbiter of success and failure – picking the winners and losers – and we now have an economic system where the only thing keeping us afloat is government spending. How cool. Can we say this model is unsustainable and will come crashing down eventually yet, and look at getting government completely out of the business of writing laws to favor the people that buy favors from politicians yet?
The left tells us that what we need is more cowbell! We can’t cut government spending! We need more of it. Cause that’s how the economy stays robust. Well, maybe I am an idiot, but the lesson I took away from this problem we are now in is that government interventionism and meddling is the problem, and we cannot correct the issue until that is addressed. But I must be stupid or something because I do not want to agree with the Keynesians that what we need is even more of the shitty medicine that has gotten us where we are now.
We will have to endure some pain to get out of the hole we dug. It’s inevitable. And the longer we wait, the bigger the pain will be. Not for the credentialed elite, of course, but for the little guy they pretend to care about so much. Collectivist Keynesianism has failed. Government picking winners and losers is a terrible idea, no matter how noble the justification they used to sell us that turd sandwich. Why can’t we admit that and get on the road to recovery already?