{"id":18410,"date":"2016-03-02T20:31:49","date_gmt":"2016-03-03T01:31:49","guid":{"rendered":"http:\/\/olduvai.ca\/?p=18410"},"modified":"2016-03-02T20:32:05","modified_gmt":"2016-03-03T01:32:05","slug":"plunging-manufacturing-numbers-mean-that-it-is-time-to-hit-the-panic-button-for-the-global-economy","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=18410","title":{"rendered":"Plunging Manufacturing Numbers Mean That It Is Time To Hit The Panic Button For The Global Economy"},"content":{"rendered":"
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Plunging Manufacturing Numbers Mean That It Is Time To Hit The Panic Button For The Global Economy<\/a><\/h3>\n<\/div>\n
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\"Panic<\/a>We haven\u2019t seen numbers like these since the last global recession.\u00a0 I recently wrote about\u00a0how global trade is imploding all over the planet<\/a>, and the same thing is true when it comes to manufacturing.\u00a0 We just learned that manufacturing in China has now been contracting for seven months in a row, and as you will see below, U.S. manufacturing is facing \u201cits toughest period since the global financial crisis\u201d.\u00a0 Yes, global stocks have bounced back a bit after experiencing dramatic declines during January and the first part of February, and this is something that investors are very happy about.\u00a0 But that does not mean that the crisis is over.\u00a0 All bear markets have their ups and downs, and this one will not be any different.\u00a0 Meanwhile, the cold, hard economic numbers that keep coming in are absolutely screaming that a new global recession is here.<\/p>\n

Just consider what is happening in China.\u00a0 Manufacturing activity continues to implode, and factories are shedding jobs at the fastest pace\u00a0since the last financial crisis<\/a>\u2026<\/p>\n

Chinese manufacturing suffered a seventh straight month of contraction in February<\/strong>.<\/p>\n

China\u2019s official Purchasing Managers\u2019 Index (PMI) stood at 49.0 in February, down from the previous month\u2019s reading of 49.4 and below the 50-point mark that separates growth from contraction on a monthly basis.<\/p>\n

A private survey also showed China\u2019s factories shed jobs at the fastest rate in seven years in February<\/strong>, raising doubts about the government\u2019s ability to reduce industry overcapacity this year without triggering a sharp jump in unemployment.<\/p><\/blockquote>\n

For years, the expansion of the Chinese economy has helped fuel global economic growth.\u00a0 But now things have shifted dramatically.<\/p>\n

At this point, things are already so bad that the Chinese government is admitting that\u00a0millions of workers<\/a>\u00a0are going to lose their jobs at state-controlled industries in China\u2026<\/p>\n

…click on the above link to read the rest of the article…<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Plunging Manufacturing Numbers Mean That It Is Time To Hit The Panic Button For The Global Economy We haven\u2019t seen numbers like these since the last global recession.\u00a0 I recently wrote about\u00a0how global trade is imploding all over the planet, and the same thing is true when it comes to manufacturing.\u00a0 We just learned that […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2],"tags":[11902,4271,130,181,195,3461,10264,5983,312,11745,366,2240,12716,12717,11028,6065,12718,2813,506,4901,6066,12719,12720,10925,753,12452,827],"class_list":["post-18410","post","type-post","status-publish","format-standard","hentry","category-economics","tag-bear-market-2016","tag-bear-markets","tag-china","tag-crisis","tag-debt","tag-debts","tag-economic-numbers","tag-economiccollapseblog","tag-financial-crisis","tag-financial-crisis-2016","tag-global-economy","tag-global-financial-crisis","tag-global-financial-crisis-2016","tag-global-recession-2016","tag-global-stocks","tag-investors","tag-investors-are-happy","tag-manufacturing","tag-markets","tag-michael-snyder","tag-panic","tag-panic-button","tag-pile-of-debt","tag-recession-2016","tag-stocks","tag-the-crisis","tag-united-states"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/18410","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=18410"}],"version-history":[{"count":2,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/18410\/revisions"}],"predecessor-version":[{"id":18412,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/18410\/revisions\/18412"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=18410"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=18410"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=18410"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}