The Empire Strikes Out! Empire Manufacturing Index Slumps To Negative Territory As Inflation Roars (WTI Crude Futures UP 79% Since Jan 1st)

Well, Omicron is hitting hard. Not the virus itself, but governments’ reaction to the virus. The NY Empire Manufacturing Index has tanked into negative territory.

New orders are down 5%.

On the energy front, West Texas Intermediate Crude Oil futures are up 79% since January 1, 2021 while regular gasoline prices are up “only” 50% over the same period.

How about inflation and the Treasury yield curve? Inflation has soared to 40-year highs under Biden as energy prices (WTI Crude Futures) have soared 79%.

Container ships are still backed-up at LA and Long Beach ports. I thought Mayor Pete was supposed to fix the port congestion problem!

Maybe they should play the Darth Vader theme when Biden goes to the podium to stammer.

3 thoughts on “The Empire Strikes Out! Empire Manufacturing Index Slumps To Negative Territory As Inflation Roars (WTI Crude Futures UP 79% Since Jan 1st)

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