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More Trouble In Rainbow And Unicorn Land

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THE “FUNDAMENTALS” OF THE US ECONOMY REMAIN WEAK …

|| By FITSNEWS ||  As the global economy warily eyes developments in Greece, fresh evidence from this side of the pond that cloudy skies are ahead.

You know, as opposed to rainbows and unicorns.

Markit’s June 2015 Purchasing Manager’s Index (PMI) clocked in at 53.6 (down from 54.0 in May) – its lowest level since October of 2013.

“Purchasing managers are reporting the slowest rate of manufacturing expansion for over a year and a half, suggesting that the economy is slowing again,” Markit’s chief economist Chris Williamson said.

Ruh-roh.

Here’s what the latest “New Normal” downtick looks like in chart form …

(Click to enlarge)

markit PMI

(Chart: Via Markit)

Hmmmm …

But hey (editor’s note: sarcasm ahead) … let’s follow the lead of Barack Obama and “Republican” leaders in Congress and subsidize the additional outsourcing of U.S. jobs via crony capitalist trade deals masquerading as “free trade,” right?

Because that’s exactly what the manufacturing sector needs right now … government carving out new incentives for multi-national corporations to shed American jobs.

Brilliant!

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