Pages

Search This Blog

Friday, September 14, 2012

Industrial Production Plunges Most Since March 2009

Industrial Production Plunges Most Since March 2009

In one more example of why we are going to need more-er and open-ended-er QE from the Fed, today's dismal data rolls on. Industrial Production dropped 1.2% MoM - its largest drop since March 2009 - and missed expectations by the most since December 2008. The market (expectedly) is unimpressed and stable - fully aware that the Fed's new infinite QE will simply be expanded to an infinte-er QE should things go from worse to worse-er. To add more salt to the wound, Capacity Utilization dropped to its lowest of the year and missed expectations by its most in 16 months. 15x P/E multiples here we come - all supported by moar hockey-stick growth trajectories, infinity +1 printing, and a status quo who needs moar commissions. So much for cleanest dirty shirt, eh? It seems 'they won't come' in our 'if we build it' economy - as factories go quiet from the over-exuberant mal-investment of channel-stuffers.http://www.zerohedge.com/news/industrial-production-plunges-most-march-2009
Enhanced by Zemanta

No comments: