by Andy Hoffman, Miles Franklin:
I don’t normally write twice in a day. However, it’s late Thursday afternoon and after watching what could be the “beginning of the end” of three-plus years of money printing, market manipulating, propagandizing infamy, the title of a recent article continues to reverberate throughout my head.
Following yesterday’s disappointing ADP report and wildly dovish FOMC statement, we started the day with the extremely ominous news that the Portuguese bank crisis is clearly not “contained”; the sovereign nation of Argentina defaulted, and the U.S. push to provoke Russia will clearly have no bounds. And then, the utterly shocking news that the one of TPTB’s last remaining propaganda “safe harbors” – i.e., the Chicago PMI index – collapsed from 62.6 in June to 52.6 in July. No that’s not a typo, as the so-called “proof” of economic “recovery” that was this soaring “diffusion index” was shattered like a piece of glass in a Colorado hailstorm.
Please follow SGT Report on Twitter & help share the message.