Karora Resources Inc T.KRR

Chicago PMI down for 9 months straight at 40 now

[Farquar]

So, the Chicago Producers Manufacturing Index is at 40 for the month of May....Anything under a reading of 50 means it shows a CONTRACTION in manufacturing in the Chicago area... 6 of the last 7 recessions have seen the number hit 40... But to the powers that be, there is no recession.. Furthermore there are jobs galore everywhere.apparently . The manufacturers in the Chicago area are in a severe downturn and surely are laying prople off.. 

The Pensylvania PMI has shrunk 9 months in a row , all negative readings means that business is bad!!! Business is very slow in that area...But there is a so-called boom in jobs...Unemployment is at a 50 year low...Everything is fantastic...

They have no shame, whatsoever...They lie, cheat, obfuscate, misinform, deceive the citizens of the US but that's ok, because it's for the "greater good"!!!

[Shlinker_]

So what's your take on this information @Farquar? You believe we are in or heading into recession? Or everything is fine, because there are jobs available? Just not the type of jobs that replace layoffs in the industrial sector? 

[Farquar]

We are in a recession already.. Every company has higher borrowing costs on their credit facilities, lines of credit and mortgages etc.etc ... Every company is dealing with 15% inflation as is every consumer, every govt , every employee etc.etc. Most companies cannot pass on their higher costs to the consumer, so their profits start to shrink... Their employees want raises and usually get them