NY Fed’s Manufacturing Index Sees Largest Ever Drop in June
1:24
Business activity in New York State “took a sharp turn downward” in June, the New York Fed said Monday.
“Manufacturing firms in New York State reported that business activity declined,” the Fed said, reporting the results of its Empire State manufacturing survey for June.
The New York Fed’s Empire State business conditions index took fell into negative territory for the first time in more than two years. The index fell 26.4 points to negative 8.6, the largest ever decline.
Economists had expected a positive 10 result, according to Econoday. Any reading below zero indicates a contraction in activity.
The index for employment fell eight points to -3.5, its first negative showing in over two years, indicating a small decline in employment levels.
Manufacturing has stumbled this year, with several regional Fed surveys and industrial production figures coming in weak. The New York Fed had posted a rebound in May but that was short-lived. Global sluggishness appears to be weighing on exports, which in turn is a drag on the manufacturing sector. Early June also so a big uptick in trade tensions as the U.S. threatened Mexico with tariffs.
AMERICA: THE RICH GET MUCH RICHER AND THE MIDDLE CLASS GETS
BLUDGEONED…. Illegals get the jobs!
*
Why do the billionaire class all want wider open borders and
hordes more “cheap” labor illegals? It’s all about keeping wages depressed for greater
profits!
*
“Today’s society benefits those who shaped it, and it has been shaped
not by working men and women, but by the new aristocratic elite. Big banks, big tech, big multi-national corporations,
along with their allies in the academy and the media—these are the aristocrats
of our age.
They live in the United States, but they
consider themselves citizens of the world” Sen. Josh
Hawley
*
*
"This is how they
will destroy America from within. The leftist billionaires
who orchestrate these plans are wealthy. Those tasked
with representing us in Congress will never be exposed to the
cost of the invasion of millions of migrants. They have nothing
but contempt for those of us who must endure the consequences of
our communities being
intruded upon by gang members, drug dealers and human
traffickers. These
people have no intention of becoming Americans; like the Democrats
who welcome them, they have contempt for us." PATRICIA
McCARTHY
“Behind the ostensible government sits enthroned
an invisible government owing no allegiance and acknowledging no responsibility
to the people. To destroy this invisible government, to befoul the unholy
alliance between corrupt business and corrupt politics is the first task of the
statesmanship of today.” THEODORE ROOSEVELT
*
"But
what the Clintons do is criminal because they do it wholly at the expense of
the American people. And they feel thoroughly entitled to do it: gain power,
use it to enrich themselves and their friends. They are amoral, immoral, and
venal. Hillary has no core beliefs beyond power and money. That should be clear
to every person on the planet by now." ---- Patricia McCarthy
- AMERICANTHINKER.com
*
“The couple parlayed lives supposedly spent in
“public service”
into admission into the upper stratosphere of American wealth, with incomes in the top 0.1 percent bracket. The source of this vast wealth was a political machine that might well be dubbed “Clinton, Inc.” This consists essentially of a seedy money-laundering operation to ensure big business support for the Clintons’ political ambitions as well as their personal fortunes."
into admission into the upper stratosphere of American wealth, with incomes in the top 0.1 percent bracket. The source of this vast wealth was a political machine that might well be dubbed “Clinton, Inc.” This consists essentially of a seedy money-laundering operation to ensure big business support for the Clintons’ political ambitions as well as their personal fortunes."
*
"The tax overhaul would mean an unprecedented windfall for
the super-rich, on top of the fact
that virtually all income gains during the period of the supposed
recovery from the financial crash of 2008 have gone to the top 1 percent
income bracket."
*
Graph from the Economic Policy Institute
Decades of decaying capitalism have led to this accelerating
divide. While the rich accumulate wealth with no restriction, workers’ wages
and benefits have been under increasing attack. In 1979, 90 percent of the
population took in 70 percent of the nation’s income. But, by 2017, that fell
to only 61 percent.
*
Millionaires projected to own 46
percent of global private wealth by 2019
While the wealth of the rich is growing at a
breakneck pace, there is a stratification of growth within the super wealthy,
skewed towards the very top.
At the end of 2014, millionaire households
owned about 41 percent of global private wealth, according to BCG. This means
that collectively these 17 million households owned roughly $67.24 trillion in
liquid assets, or about $4 million per household.
By Gabriel Black
*
The massive increase in the value of
the stock market, which only a small segment of the population
participates in, means that the top 10 percent of the population controls
73 percent of all wealth in the United States. Just three
men—Jeff Bezos, Warren Buffet and Bill Gates—had more wealth than the
bottom half of America combined last year.
America
Created Just 20,000 Jobs in February...and those all went to foreign
born!
Exclusive–Mo Brooks: ‘Masters of the Universe’ Want More
Immigration to ‘Decrease Incomes of Americans’
*
Consequently,
the pumping of ultra-cheap money into the financial system,
fueling speculation and parasitism, together with ever-widening
social inequality, is not a temporary measure but must be made permanent.
*
The
declining living standards of the working class are feeding directly into
the retail apocalypse and mass layoffs of retail workers will
only exacerbate the issue.
Workers’
wages have seen little to no growth in the last four decades, and any
economic growth experienced since 2008 has gone to
*
“US household net worth sees biggest fall since crisis”
*
“Trump Touts Legal Immigration System for
‘Our Corporations’ at Expense of
American Workers “– JOHN BINDER
Trump’s shift from a
wage-boosting legal immigration system to one that benefits corporations and
their shareholders coincides with recent big business lobby influence over his
White House, at the behest of advisers Jared Kushner and Brooke Rollins.
*
“Trump Abandons ‘America First’ Reforms: ‘We
Need’ More Immigration to Grow Business Profits” JOHN BINDER
*
Additionally, Koch spokespeople at the donors’ conference said the
network has its sights set on pushing amnesty for millions of illegal aliens
this year.
Despite a booming economy, many U.S. households are still just
holding on
https://mexicanoccupation.blogspot.com/2019/05/the-recovery-that-never-happened-except.html
"One of the
premier institutions of big business, JP Morgan Chase, issued
an internal report on the eve of the 10th anniversary of the 2008
crash, which warned that another “great liquidity crisis”
was possible, and that a government bailout on the scale of that
effected by Bush and Obama will produce social unrest, “in light of
the potential impact of central bank actions in driving
inequality between asset owners and labor."
“Our entire crony capitalist system, Democrat and Republican
alike, has become a kleptocracy approaching par with third-world
hell-holes. This is the way a great country is raided by its elite.”
---- Karen McQuillan THEAMERICAN THINKER.com
“Behind
the ostensible government sits enthroned an invisible government owing no
allegiance and acknowledging no responsibility to the people. To destroy this
invisible government, to befoul the unholy alliance between corrupt business
and corrupt politics is the first task of the statesmanship of today.” THEODORE
ROOSEVELT
Jim Carrey: America ‘Doomed’ If We Don’t Regulate Capitalism"
The American phenomenon of record stock values fueling an ever greater concentration of wealth at the very top of society, while the economy is starved of productive investment, the social infrastructure crumbles, and working class living standards are driven down by entrenched unemployment, wage-cutting and government austerity policies, is part of a broader global process."
The father
of US Treasury Secretary Steven Mnuchin just completed the most
expensive purchase of a living artist’s work in
US history, spending over $91 million on a three-foot-tall metallic
sculpture. Ken Griffin, the founder of hedge fund Citadel, recently dropped
$238 million on a penthouse in New York City, the most expensive US home
ever purchased. And Amazon’s Jeff Bezos, the world’s richest man, has
invested $42 million in a 10,000-year clock.
Decades of
decaying capitalism have led to this accelerating divide. While the rich
accumulate wealth with no restriction, workers’ wages and benefits have been
under increasing attack. In 1979, 90 percent of the population took in 70
percent of the nation’s income. But, by 2017, that fell to only 61 percent.
"This is
how they will destroy America from within. The leftist
billionaires who orchestrate these plans are wealthy. Those tasked
with representing us in Congress will never be exposed to the
cost of the invasion of millions of migrants. They have nothing
but contempt for those of us who must endure the consequences of our
communities being intruded upon by gang members, drug dealers and
human traffickers. These people have no intention
of becoming Americans; like the Democrats who welcome them, they have
contempt for us." PATRICIA McCARTHY
In 2014
the Russell Sage Foundation found that between 2003 and 2013, the median
household net worth of those in the United States fell from $87,992 to
$56,335—a drop of 36 percent. While the rich also saw their wealth drop during
the recession, they are more than making that money back.
Between
2009 and 2012, 95 percent of all the income gains in the US went to the top 1
percent. This is the most distorted post-recession income gain on record.
OBAMA: SERVANT OF THE 1%
Richest one percent controls
nearly half of global wealth
The richest one percent of the world’s population now controls
48.2 percent of global wealth, up from 46 percent last year.
The report found that the growth of global inequality has
accelerated sharply since the 2008 financial crisis, as the values of financial
assets have soared while wages have stagnated and declined.
THE WALL STREET BOUGHT AND OWNED DEMOCRAT PARTY
SERVING BANKSTERS, BILLIONAIRES and INVADING ILLEGALS
“Our entire crony
capitalist system, Democrat and Republican alike, has become a kleptocracy
approaching par with third-world hell-holes. This is the way a great
country is raided by its elite.” ----Karen McQuillan AMERICAN THINKER
THE CRONY CLASS:
Income inequality grows FOUR TIMES FASTER under
Obama-Biden and their bankster regime than Bush.
“By the time of Bill Clinton’s election
in 1992, the Democratic Party had completely repudiated its association with
the reforms of the New Deal and Great Society periods. Clinton gutted welfare
programs to provide an ample supply of cheap labor for the rich (WHICH NOW
MEANS OPEN BORDERS AND NO E-VERIFY!), including a growing layer of black
capitalists, and passed the 1994 Federal Crime Bill, with its notorious “three
strikes” provision that has helped create the largest prison population in the
world.”
“Our entire crony
capitalist system, Democrat and Republican alike, has become a kleptocracy
approaching par with third-world hell-holes. This is the way a great
country is raided by its elite.” ----Karen McQuillan AMERICAN THINKER
///
(THERE'S A REASON WHY GEORGE S OROS RUNS OBAMA'S BID FOR A
THIRD TERM FOR LIFE).
THE REAL ECONOMY:
US “retail apocalypse” expected to exceed annual high with more
than 1,100 store closures announced in one day.
*
*
The declining
living standards of the working class are feeding directly into the retail
apocalypse and mass layoffs of retail workers will only exacerbate the issue.
Workers’ wages have seen little to no growth in the last four decades, and any
economic growth experienced since 2008 has gone to the wealthiest of the wealthy.
Why do all global billionaires
want wider open borders, amnesty and no E-VERIFY?
AMERICA: THE ECONOMY IS RIGGED
BY COGRESS SO THE RICH BECOME SUPER RICH.
The American middle class gets the tax bills
for Wall Street’s crimes and bottomeless bailouts!
Wealth
concentration increases in US.
*
*
The latest research on wealth inequality by University of
California economics professor Gabriel Zucman underscores one of the key social
and economic trends since the global financial crisis of 2008. Those at the
very top of society, who benefited directly from the orgy of speculation that
led to the crash, have seen their wealth accumulate at an even faster rate,
while the mass of the population has suffered a major decline.
*
The past 40 years have seen the consolidation of a plutocratic
elite, which has subordinated every aspect of American society to a single
goal: amassing ever more colossal amounts of personal wealth. The top one
percent have captured all of the increase in national income
over the past two decades, and all of the increase in national
wealth since the 2008 crash.
*
“Our
entire crony capitalist system, Democrat and Republican alike, has become
a kleptocracy approaching par with third-world hell-holes. This
is the way a great country is raided by its elite.” ---- Karen
McQuillan AMERICAN THINKER
BILLIONAIRE BETO “BETOMATIC” O’ROURKE
PROCLAIMS AMNESTY FOR 40 MILLION INVADING “UNREGISTERED” DEMOCRAT VOTING
ILLEGALS.
No word on America’s homeless, housing or
jobs crisis for Legals!
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