Another promise kept?

https://www.cnn.com/2019/10/01/economy/ism-manufacturing/index.html

I thought trade wars were easy? Yet here is more data indicating that it may not be as true as we were led to believe.

Worst numbers in a decade? I’m sure El Prezidente will find away to blame all of this on Obama, Hillary, or perhaps an unknown whistleblower.

18 thoughts on “Another promise kept?

  1. This explodes one of the favorite lies one hears around here – that Trump’s massive Treasury raid for his buddies created a manufacturing boom. It didn’t. And no real economist ever believed it would.

    Liked by 2 people

  2. CNN is fake news. The posted article illustrates how and why.

    The lede, or first sentence commits two fake news errors: a) it makes an editorial claim, and b) the claim is not supported by the body of the article.

    “In the surest sign yet that the trade war is hurting the American economy, manufacturing activity contracted for the second month in a row in September, falling to a level not seen in 10 years.”

    The editorial claim is that the trade war is the cause of the downturn in manufacturing activity. It is an editorial claim because it may or may not be true. In fact, the remainder of the article cites other factors — Fed policy, global recession, the GM strike — as possible explanations for the downturn.

    However you read it, the CNN piece is dishonest.

    Like

    1. So manufacturing is booming?

      The news is not fake and the causes are all accounted for.

      BTW, the global recession has been blamed on the trade war, if not a major cause certainly not helping.

      Your complaint is about the wording, not the facts.

      As you well know, our economy rises and falls without much influence by presidents. But we still blame or credit the president. And the presidents all try to take credit for the good times. That’s politics.

      Yes, we had a bump with the corporate tax cut, but as many predicted it was a sugar high. And the trade war, not just with China, but the world, is not going well. I predict there might be some minor tweaks by both sides, like NAFTA 2, so Trump will declare victory and go home. Will it be enough to boost our economy above its mediocre growth? Who knows? I doubt it, but what I think is not important.

      Here is my take. If the economy is booming by next summer, enough to counter the skyrocketing healthcare costs, Trump (or Pence) might continue. But that’s a tall order.

      Trump is in serious trouble and only a great economy can help him, if at all.

      IMHO

      Liked by 2 people

    2. Two lines from the article prove your untoward biased for any and all things Trump:

      “The Institute of Supply Management’s closely-watched manufacturing index dropped to 47.8 in September, its lowest level since June 2009 and worse than what economists had expected.”

      “”Global trade remains the most significant issue, as demonstrated by the contraction in new export orders that began in July 2019,” said Timothy Fiore, chair of the ISM’s manufacturing business survey committee.”

      Nothing fake about the report. As far as editorial commentary, meh!.

      Liked by 2 people

      1. RE: “Two lines from the article prove your untoward biased for any and all things Trump”

        Do you know how to read, Mr. Green? Both of the quotes you pull from the article support the point that the CNN article falsely blames the trade war for the downturn in export demand.

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        1. Civility, Mr. Roberts, civility.

          It is NOT CNN that makes the claim it is the ISM and those who compiled it. CNN is reporting the findings. Sorry the rosy outlook Mr. Trump promised us is not coming to fruition. There are more smoke and mirrors from this administration then any other in history.

          Liked by 1 person

        2. RE: “It is NOT CNN that makes the claim it is the ISM.”

          No, it isn’t, Mr. Green. That’s the point. The ISM factually reports a significant downturn in export demand. It does not attribute that downturn specifically or solely to China, the only country with which we have a trade war. As a result, CNN makes an editorial assertion about the trade war which its own reporting doesn’t substantiate.

          You would do well not to trust CNN.

          Like

          1. RE: “You would do well to take a closer look at the sources you use for spreading conspiracies and inaccurate pro-Trump propaganda.”

            You are more than welcome to document errors in anything I post, just as I have done here.

            Like

    3. “CNN is fake news”, but Zero Hedge and PJmedia are your sources…

      Hilarious, thanks for the coffee out the nose laugh.

      P.S. Nothing in their presentation is false so I can only conclude you mean “fake” in the way trump does; accurate in reality, but not accurate in the fantasy world I live in…

      Liked by 2 people

  3. The US and China have been in a trade war for at least 15 years, it’s just that we only recently started shooting back. It may be more intense now that we are fighting back, but we were being slowly pillaged all the time.

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    1. While our roads are crumbling the Chinese have been building infrastructure and spreading their technology to countries around the world. This trade war with Trump is just a distraction from their long term goals.

      Liked by 3 people

    2. Pillaged? By people working like slaves to make us things? If that is “pillaging,” bring it on.

      The problem is not the Chinese. It is us. We allow a tiny handful of people to ruin the economic life of millions of fellow Americans. Selfishness as the highest moral value is a shitty philosophy that does not turn out well in the long run.

      Liked by 1 person

  4. “Did you hear about Mrs, Smith? She’s in the hospital in a coma.”
    “No, what happen?”
    “Accidentally drank antifreeze.”
    “Oh no. Her poor husband, he must be devastated. His first wife died that way, you know.”

    “I would like you to do us a favor though because our country has been through a lot and Ukraine knows a lot about it.”

    Liked by 2 people

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