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Dow drops over 200 points after US factory data disappoints
nbcnews.com ^ | February 3, 2014 | Kate Gibson

Posted on 02/03/2014 9:19:06 AM PST by John W

Disappointing factory data sent stocks falling hard on Monday, with the Dow dropping over 200 points and extending losses after its worst monthly percentage drop since May 2012.

The markets had wavered ahead of the report from the Institute for Supply Management (ISM) which said its index of national factory activity fell to 51.3 last month, to its lowest level since May 2013, from a recently revised 56.5 in December.

(Excerpt) Read more at nbcnews.com ...


TOPICS: Business/Economy; News/Current Events
KEYWORDS:
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1 posted on 02/03/2014 9:19:06 AM PST by John W
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To: John W

Can’t keep up the façade much longer.


2 posted on 02/03/2014 9:19:50 AM PST by MrB (The difference between a Humanist and a Satanist - the latter admits whom he's working for)
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To: MrB

This is just the beginning. I suspect there will be some attempts to talk up the market, and it will be bolstered temporarily, but we’re heading into a long-term downturn in the market.


3 posted on 02/03/2014 9:20:48 AM PST by rarestia (It's time to water the Tree of Liberty.)
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To: John W

Glad I got out of the market 6 years ago. People have called me stupid for missing out on the balloon, but I have other reasons for not participating in cheap theater.


4 posted on 02/03/2014 9:21:26 AM PST by fwdude ( You cannot compromise with that which you must defeat.)
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To: John W

factory data must be hard to come by, what with so many factories closing down

(similar to employment data.. with the current administration “removing so many workers from the work force”)

maybe soon we won’t be insulted by any more of these phoney data?


5 posted on 02/03/2014 9:22:08 AM PST by faithhopecharity (C?)
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To: rarestia

According to the (p)Resident it’s Fox News Fault.


6 posted on 02/03/2014 9:22:16 AM PST by VRWCarea51
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To: John W

A veritable commercial for MyRA accounts...


7 posted on 02/03/2014 9:22:39 AM PST by Buckeye McFrog
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To: John W

Aren’t deliveries down, too?

Hold on...bumpy ride time?


8 posted on 02/03/2014 9:23:49 AM PST by Jane Long (While Marxists continue the fundamental transformation of the USA, progressive RINOs assist!)
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To: rarestia; John W

The explosive growth on the market never made sense in the first place. Investors giving each other the high five while the American economy is in a full scale Depression. Fictional Fed money being pumped into fictitious returns. It is almost akin to watching a compulsive gambler who keeps telling his friends and family that everything is fine.


9 posted on 02/03/2014 9:25:10 AM PST by SkyPilot
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To: MrB

Peter Schiff,

“The crisis is imminent. I don’t think Obama is going to finish his second term without the bottom dropping out. And stock market investors are oblivious to the problems.
We owe trillions. Look at our budget deficit; look at the debt to GDP ratio, the unfunded liabilities. If we were in the Eurozone, they would kick us out.”


10 posted on 02/03/2014 9:25:42 AM PST by Para-Ord.45 ( Americans, happy in tutelage by the reflection that they have chosen their own dictators.)
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To: Jane Long

Bookmark


11 posted on 02/03/2014 9:27:04 AM PST by dragnet2 (Diversion and evasion are tools of deceit)
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To: Para-Ord.45

Sept 2015.


12 posted on 02/03/2014 9:27:10 AM PST by MrB (The difference between a Humanist and a Satanist - the latter admits whom he's working for)
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To: rarestia

I “went cash” in my IRA last week.


13 posted on 02/03/2014 9:27:45 AM PST by MrB (The difference between a Humanist and a Satanist - the latter admits whom he's working for)
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To: John W

Nothing that MADE IN USA won’t fix.


14 posted on 02/03/2014 9:27:56 AM PST by ex-snook (God is Love)
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To: MrB

How did you come up with that date? Thx ;)


15 posted on 02/03/2014 9:29:51 AM PST by Jane Long (While Marxists continue the fundamental transformation of the USA, progressive RINOs assist!)
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To: faithhopecharity

Our domestic factories are at the highest utilization rate since 2008


16 posted on 02/03/2014 9:30:17 AM PST by Wyatt's Torch
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To: John W
How could manufacturing NOT have fallen with the horrible weather that enveloped so much of the US last month?

The only reason it isn't being explained that way is that the ptb want the feds to keep printing money, and they're using this as an excuse to cave the stock market if that money doesn't keep on comin'.

JMHO

17 posted on 02/03/2014 9:31:51 AM PST by grania
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To: MrB

The gov’t will soon force you to buy bonds with that cash.


18 posted on 02/03/2014 9:32:24 AM PST by Rusty0604
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To: Jane Long

Just in time for the Presidential elections. Sept/Oct./Nov.05

I`m certain they`ll concoct a crisis so Hillary wins in a landslide.


19 posted on 02/03/2014 9:35:10 AM PST by Para-Ord.45 ( Americans, happy in tutelage by the reflection that they have chosen their own dictators.)
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To: Jane Long

Long answer: https://www.google.com/search?q=jonathan+cahn+interview

Summary: America is experiencing a series of 7 year judgments, starting in Sept, 2001 (9/11), Sept, 2008 (economic crash), and finally, Sept 2015 (BIG economic crash, and maybe worse).


20 posted on 02/03/2014 9:37:13 AM PST by MrB (The difference between a Humanist and a Satanist - the latter admits whom he's working for)
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To: John W

Green shoots


21 posted on 02/03/2014 9:38:58 AM PST by Principled
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To: Rusty0604

They’ll try to get their hands on it somehow, I’m sure.
One of my “outs” would be to transfer it to “ira ready” metals.

I’ve second hand info that some of these places have assured customers that any attempt by the gov’t to confiscate these holdings would result in stall tactics on the part of the IRA management company with backdoor shipments to the customers while the stall was going on.


22 posted on 02/03/2014 9:39:48 AM PST by MrB (The difference between a Humanist and a Satanist - the latter admits whom he's working for)
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To: Wyatt's Torch

there were over 14 million manufacturing jobs in USA before 2009, now there are barely 12 million. That’s 2 million more people out of work (just factory related jobs) in the last 5 years.

(to be fair to Obama, there is also a long-term trend along these lines ... but “factory utilization rates” do NOT tell us anything about whether there are more or less real JOBS for real PEOPLE....)


23 posted on 02/03/2014 9:42:35 AM PST by faithhopecharity (C?)
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To: fwdude
Glad I got out of the market 6 years ago.

Care to share what you've been doing "out of the market" for so long, and how you've been investing your money?

24 posted on 02/03/2014 9:43:34 AM PST by Lou L (Health "insurance" is NOT the same as health "care")
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To: Wyatt's Torch

Would only be higher if anybody could hire more workers too...


25 posted on 02/03/2014 9:43:54 AM PST by MNlurker
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To: SkyPilot
Corporate profits at record highs and S&P finally in line:


26 posted on 02/03/2014 9:44:11 AM PST by Wyatt's Torch
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To: faithhopecharity
Yet output per worker (productivity) continues to record highs:

Many companies, like mine, shed workers during the recession and modernized the plants. We are now producing more with less.

27 posted on 02/03/2014 9:46:41 AM PST by Wyatt's Torch
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To: MNlurker

No need to hire more people with excess capacity. We are not volume constrained. We implemented LEAN in 2009 and are producing more product with less people than before the recession.


28 posted on 02/03/2014 9:49:32 AM PST by Wyatt's Torch
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To: MrB

Thanks.


29 posted on 02/03/2014 9:49:43 AM PST by Jane Long (While Marxists continue the fundamental transformation of the USA, progressive RINOs assist!)
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To: John W
Time to cash out....


30 posted on 02/03/2014 9:53:07 AM PST by Iron Munro ("Sooner or later everyone sits down to a banquet of consequences." - Robert Louis Stevenson)
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To: rarestia
Things are dropping really bad. I've been out for about 3 mo. Waiting to see what to do.

Sat nite Larry Kudlow said the DOW is going to 18,000, thinks the economy is gradually improving.

Last nite Bob Brinker told a lady who wanted a hedge to buy GLD which is backed in bullion. Not to hold coins. I don't think he, personally, thinks much of hedging in metals.

31 posted on 02/03/2014 9:53:41 AM PST by Aliska
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To: Para-Ord.45
People on the 'left' have already said there will be a crash post 2016, or around the election.


32 posted on 02/03/2014 9:53:51 AM PST by Theoria (End Socialism : No more GOP and Dem candidates)
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To: grania
How could manufacturing NOT have fallen with the horrible weather that enveloped so much of the US last month?

You've got a point. A lot are blaming the weather for the mess that is passing as the "economy".

The defunct Soviet Union blamed their "weather" for years and years of crop failures, yearly production shortfalls, and generations of unmet Five Year Plans.

I guess the cheerleaders for our nasty economy still imagine that old excuse still works.

33 posted on 02/03/2014 9:54:03 AM PST by Gritty (Inside every liberal is a totalitarian screaming to get out! - David Horowitz)
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To: John W

I was thinking about the world response to bail out Greece AGAIN


34 posted on 02/03/2014 9:58:48 AM PST by edcoil ( "All men's miseries derive from not being able to sit in a quiet room alone." - Blaise Pascal)
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To: Wyatt's Torch
U.S. stocks fell on Monday, with the S&P 500 hitting its lowest level in almost three months after data showed the factory sector in the world's largest economy expanded in January at a far weaker pace than expected.

U.S. manufacturing grew at a slower pace in January as new order growth plunged by the most in 33 years, while spending on construction projects barely rose in December.

"Combine that with the fact emerging market currencies continue to sell off, and things don't look too good for the market now," he said. "Somewhere between now and 1,700 (on the S&P) there's a big buying opportunity, but people need to see some stability in emerging currencies."

35 posted on 02/03/2014 10:01:52 AM PST by kabar
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To: Wyatt's Torch

exactly right!

less workers.... (as an investor, automation is usually good news...yipee....I like it!.......But for American workers, especially during a Great Recession or Depression like today, automation brings on more and more unemployment...especially since many of the robots can now be imported from China and elsewhere...they used to mostly be built here....so even many of those jobs are now moved, moving overseas).


36 posted on 02/03/2014 10:04:34 AM PST by faithhopecharity (C?)
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To: kabar

Gold is up...for now.


37 posted on 02/03/2014 10:04:47 AM PST by Jane Long (While Marxists continue the fundamental transformation of the USA, progressive RINOs assist!)
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To: faithhopecharity
I'm not sure what to do about that though. It's the way of the world and it's structural. No business is going to bring back more workers than they need. It's like the Milton Friedman comment:

At one of our dinners, Milton recalled traveling to an Asian country in the 1960s and visiting a worksite where a new canal was being built. He was shocked to see that, instead of modern tractors and earth movers, the workers had shovels. He asked why there were so few machines. The government bureaucrat explained: “You don’t understand. This is a jobs program.” To which Milton replied: “Oh, I thought you were trying to build a canal. If it’s jobs you want, then you should give these workers spoons, not shovels.”

38 posted on 02/03/2014 10:07:42 AM PST by Wyatt's Torch
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To: kabar
Yep. Big drop:


39 posted on 02/03/2014 10:08:51 AM PST by Wyatt's Torch
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To: Wyatt's Torch
We are doing that now. Just had the layoffs last week.

Funny thing is, the parent company is implementing it in a cookie cutter way. Keeping some positions that for business are not needed, and cutting some that are.

40 posted on 02/03/2014 10:16:07 AM PST by redgolum ("God is dead" -- Nietzsche. "Nietzsche is dead" -- God.)
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To: redgolum

Yikes. Top down is no way to do that... We let our business segments determine the cuts they wanted to make. We did these in 2009 and have added people the last two years when volume picked back up. We just haven’t added as many as we shed.


41 posted on 02/03/2014 10:19:17 AM PST by Wyatt's Torch
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To: Lou L

Cash accounts.


42 posted on 02/03/2014 10:22:21 AM PST by fwdude ( You cannot compromise with that which you must defeat.)
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To: Wyatt's Torch
Our domestic factories are at the highest utilization rate since 2008

Please post references, thanks. My guess is that the total number of factories is at all time low. Not to say the few remaining are not running at high utilzation. Free Traders have the Bill Clinton parsing words disease.

43 posted on 02/03/2014 10:28:32 AM PST by central_va (I won't be reconstructed and I do not give a damn.)
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To: Para-Ord.45
"Peter Schiff,"

“The crisis is imminent. I don’t think Obama is going to finish his second term without the bottom dropping out. And stock market investors are oblivious to the problems. We owe trillions. Look at our budget deficit; look at the debt to GDP ratio, the unfunded liabilities. If we were in the Eurozone, they would kick us out.”

Celente Warns Of Coming Riots: “The Collapse Is Engulfing The World”

Albeit...I'm still waiting for the certain collapse that was forecast for the summer of 2010.

44 posted on 02/03/2014 10:30:46 AM PST by blam
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To: blam

Down now almost -270


45 posted on 02/03/2014 10:31:23 AM PST by dragnet2 (Diversion and evasion are tools of deceit)
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To: Jane Long
"Gold is up...for now."


46 posted on 02/03/2014 10:34:01 AM PST by blam
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To: dragnet2

DJIA Down 249 as I post.

47 posted on 02/03/2014 10:35:31 AM PST by blam
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To: blam

But you are prepped to the max and plan to maintain. A simple nuclear device in the right place in the Middle East can lead to events that plunge the world financial situation into chaos with Freeper style investments (could be gold or bullets etc) becoming very valuable


48 posted on 02/03/2014 10:40:06 AM PST by dennisw (The first principle is to find out who you are then you can achieve anything -- Buddhist monk)
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To: central_va

The reference is my company


49 posted on 02/03/2014 10:40:49 AM PST by Wyatt's Torch
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To: dennisw
"But you are prepped to the max and plan to maintain"

Si.

50 posted on 02/03/2014 10:43:56 AM PST by blam
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