Corporate Profits Are Declining

Buried in that GDP report were some other very bad numbers. For example, there was a 4.7 percent decline in corporate profits during the quarter. That is the biggest decline in corporate profits since 2009!

The Manufacturing Recession Is Already Here

We got 52.6 on the Manufacturing PMI and that was the lowest number in 2 years. I have been talking about this for a long time on the podcast. The manufacturing recession is already here.

The mainstream will acknowledge this but they do not even think it matters. They think that manufacturing is so small a part of the economy that it does not really matter. Admitting that is such a small part of the economy is part of the problem. It cannot be a small part of the economy! The fact that it is a small part of the economy is a problem in and of itself.