October 5, 2009

Following the Damage Inflicted by the POR (Pelosi-Obama-Reid) Economy …

Filed under: Economy,Taxes & Government — Tom @ 5:31 pm

The economy, according to a composite of the Institute for Supply Management’s Manufacturing and Non-Manufacturing indices, is finally expanding.

Manufacturing’s September reading came in at 52.6% last Friday, a slight dip from August’s 52.9%, after a string of 18 straight sub-50% performances.

The Non Manufacturing Index showed its first expansionary reading (above 50%) since October of last year, at 50.9%. The economy’s combined reading, weighting the indices 85-15, is 51.2%, the first time the combined number is over 50% since August of last year. That month eked out a 50.2% weighted-average reading.

It was the Non Manufacturing Index’s “totally unexpected” drop into contraction in June of 2008 that, combined with June 2008′s employment report, that confirmed my satisfaction that Nancy Pelosi, Barack Obama, and Harry Reid had launched the POR Economy.

Maybe we’re out of the woods in the sense of the economy finally starting to grow again, but Pelosi, Obama, and Reid shrunk it by about 3.8%. There’s a lot to make up, and one decent quarter, if that’s indeed how the third quarter turned out, does not a turnaround make.

And of course, the employment situations remains pathetic, and may stay that way for years to come.


1 Comment

  1. Not to worry, the Dems will find some way in which to sabotage a recovery, just give them some time.

    Comment by dscott — October 5, 2009 @ 7:16 pm

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