Why is it I feel like we are being fed more lies, readers?
"U.S. Manufacturing Slips as Inflation Gauge Surges" by REUTERS
United States manufacturing declined in May for the fourth consecutive month while inflation surged to the highest in four years, heightening fears of stagflation.
Combined with data on inflation, the manufacturing report fed concerns about rising prices in a weak economy, especially after the price of oil hit a record high last month above $135 a barrel....
This year’s manufacturing downturn is the worst since the February-to-June period in 2003, and comes as the deepest housing slump since the Depression has weakened the broader economy. A separate report showed that construction spending fell less than expected in April....
But construction spending STILL FELL, huh?
The contraction in the May supply management index was the fifth in six months, but the weak dollar has bolstered exports, helping to ease damage to the factory sector.... Construction spending fell 0.4 percent in April on continued deterioration in the residential sector, but outside of home building, private spending rose for the third month in a row.
Economists polled by Reuters ahead of the Commerce Department’s report were expecting a 0.6 percent decrease in construction spending, after a 0.6 percent decrease in March that was first reported as a much bigger 1.1 percent decline.
The factory sector also struggled abroad. Manufacturing in the euro zone cooled more in May as output remained near a three-year low....
And what you revise and give back in March, you can revise and adjust in April, right?
Pfffffffttt!
Yes, I am sick of being shoveled shit lies.
"Factory Orders Rise 1.1% in April" by THE ASSOCIATED PRESS
WASHINGTON — Orders for manufactured goods posted a surprisingly strong increase in April as demand rose across a number of industries.
The Commerce Department report on Tuesday said that orders were up 1.1 percent in April after a 1.5 percent increase in March. Orders fell in January and March as a spreading slowdown in the overall economy depressed manufacturing activity.
WTF?! Just above it says manufacturing has been falling for four straight months!!!!
Oh, you gotta love that LYING GOVERNMENT, don't you?
The April increase came as a surprise. Analysts had been forecasting a small decline.
Orders in the battered auto industry and in the volatile commercial aircraft sector did fall sharply, but other areas showed strength that ranged from rising demand for iron and steel to increased orders for appliances and heavy machinery. Demand for petroleum was also up sharply, reflecting higher oil prices....
Manufacturing is being buffeted by a prolonged slump in housing, which has cut into demand for building supplies, and by soaring energy prices, which have hurt auto sales. These adverse factors are being offset, however, by continued strong demand for United States exports, which are being helped by the weaker dollar, which makes American products more competitive on overseas markets.
And just who is being helped by this -- other than some richers, folks?
Sorry, but it is not you and me, readers!
For April, demand for durable goods, or items expected to last at least three years, fell 0.6 percent, with that weakness led by a 24.4 percent drop in demand for commercial aircraft and a 4.2 percent decline in motor vehicles.
Orders for nondurable goods, however, rose by 2.8 percent, led by a big jump in demand for petroleum products, reflecting higher prices. Demand for food and beverages also rose sharply."
Aaaaah, what am I complaining about?
I'm sure everything will be just fine, despite the MSM and government lies, right?
DETROIT — G.M. announced drastic cuts in production of sport utility vehicles and pickups on Tuesday and stepped up plans for smaller cars and engines.
G.M.’s chairman and chief executive, Rick Wagoner, said G.M. will cease production at four North American assembly plants that make S.U.V.’s and pickups by 2010.
And in a humbling admission that the S.U.V. era is all but over, G.M., Detroit’s leading automaker, said it was considering selling the gas-guzzling Hummer brand it once regarded as a pillar of future growth....
Translation: Those jobs GONE FOREVER!!!!
G.M. unveiled its latest restructuring on the same day that it reported that its United States sales plunged 30 percent in May....
The production cuts will idle an estimated 8,000 workers at the plants in Janesville, Wis.; Moraine, Ohio; Oshawa, Ontario; and Toluca, Mexico. G.M. declined to provide details about what would happen to the workers affected....
They will be hitting the unemployment line soon, one would imagine.
G.M. (or any other corporation) doesn't even even give a shit about the American people anymore.
