I guess Zippy Do D'ohBama hasn't figured out that whatever his version of socialism is just doesn't work because it is failing all over the place. The socialists have run out of everyone's money.
Figures showed manufacturing output slowing across large parts of the world, posing further challenges to leading economies as they attempt to shore up shaky fiscal positions without falling back into recession.
In Asia – the world’s production powerhouse whose economies are still largely dependent on export demand – manufacturing activity indices for China, South Korea, Taiwan, India and Australia all showed weaker activity for June.
The overall level of factory activity still suggested production was expanding but at a more moderate rate than in recent months.
“China’s recovery remains solid but is clearly moderating from the very fast pace set at the start of the year,” said Brian Jackson, strategist at RBC Capital Markets in Hong Kong. But he added that concerns over weaker growth might cause China to restrict appreciation in the renminbi, which has been allowed some flexibility in the past two weeks. “A slowdown in activity in the months ahead may prompt some in Beijing to argue for a halt,” he said.
Last weekend’s G20 meeting in Toronto was marked by concern in some quarters, notably the US, that overly rapid fiscal tightening would deprive the global economy of much-needed domestic demand. Some economists are concerned that with monetary policy in the US and western Europe reaching the limits of what it can do, the weakness of demand risks letting the world economy slide back into recession. [...]
Gee wiz. What a bummer.
The Snooper Report.
Join us as we Take Our Country Back.
Sic vis pacem para bellum