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Saturday, January 3, 2009


In case you were wondering, the United States stopped producing things last month, unless you count dollars, which you don't. The Institute for Supply Management's survey index fell at its fastest rate in 30 years, from 36.2 to 32.4. Anything below 50 is considered contractionary. JP Morgan's index showed the same thing. Also Europe stopped making things.

...oh, ok, and factory orders fell to their lowest level since 1948, before we 'lost' China.

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