Daniel_Plainview wrote:So we've regressed back to depressive levels not seen since the autumn of 2009 ... OUCH!
In a sure sign of how completely desperate the doomers have become, a PMI reading of 56.2 is now labeled as "depressive." Never mind that in reality, a PMI reading of 56.2 is actually quite good, and so this Chicago PMI has simply gone from "red hot" to merely "very good." The new orders sub-index of 57.4 is even better even though it went down, and mysteriously (not!) omitted from the copy-and-paste of Zerohedge's usual spin is the fact that the employment sub-index rose from 56.3 to an even healthier 58.7, not to mention the order backlog increased from 54.4 to 56.8. Inventories also went down, and you can be sure that if they went up, that also would have been mentioned by Zerohedge as some portent of doom, with vivid images of unsold merchandise piling up in warehouses being painted by Tyler Turden.
But noooo ... none of that matters to a doomer. The doomer is so completely addicted to his hopes of imminent economic doomsday, that nothing can shake him from his belief
hope that things are just about to fall apart. When they don't fall apart when expected, just like a crack addict desperate to get his next fix, any and every hope of Economic Armageddon, buried deep within any economic report anywhere, is fished out and quickly consumed no matter how pitifully small and inconsequential the crumbs may be. Quite sad, actually.