Not only is US manufacturing not booming, it’s contracting. The most recent manufacturing PMI unexpectedly plummeted to 49.9, the lowest reading since early in the pandemic. Any reading under 50 indicates contraction.
As for GDP, the +2.6% Q3 increase follows -1.6% in Q1 and -0.6% in Q2. So GDP is only up 0.4% in 2022, which is abysmal and indicates essentially no economic growth.
It’s bizarre to see them seesaw back and forth that Trump is totally clueless and aloof, just golfing all day, then all of a sudden he’s a dangerous king/dictator who’s diligently plotting to seize absolute power.
▪️This one is frustrating because, while it’s nice to see the vigor and speed that DOGE is acting with, they’re also sloppy with some of their findings. This is not some bombshell, millions of dead people’s SS numbers aren’t being paid out to fraudsters.
▪️This problem has been known for some time, you can read an inspector general’s report from 2015 about millions of names on the SS “numident” not being correctly annotated for deaths, even though they were older than 112 (the oldest known American at the time).
https://oig-files.ssa.gov/audits/full/A-06-14-34030_0.pdf
▪️There are innocent explanations for some of these. Expatriates that died outside the country, for example. Or immigrants given temporary work permit who returned to their country, people issued new numbers for various reasons, etc. However, most are simply due to the govt not diligently keeping track of deaths.
▪️It’s embarrassing that the govt has millions of numbers on the numident that are ...
