The details were even worse: the employment gauge dropped a point to just over 46, a nearly four-year low; new orders were basically flat at 47; and–and this is crux of it–the export sub-index slid all the way down to 41, also its worst reading since 2009.<\/p>\n
As Peter Boockvar, put it: “We’ve tariffed our way into a manufacturing recession.”<\/p>\n
But here’s the thing: that’s\u00a0still\u00a0<\/em>no guarantee of an overall downturn. We know why manufacturing is struggling. We know it’s still just 10% of the U.S. economy. We also know the consumer has been\u00a0incredibly strong\u00a0<\/em>throughout all of the trade and tariff headlines this year.<\/p>\n OK. The market is tanking again today. And accelerating its tanking. Most depressing.<\/p>\n Tomorrow ISM will release its more important consumer report, called Non-Manufacturing Data. Last month’s report was buoyant.<\/p>\n As\u00a0 depressed as I am this morning, I take solace from this ten year chart of S&P 500, compared to the Dow and the Nasdaq.\u00a0There are blips — sometimes big depressing ones. But ultimately it all does OK — especially NASDAQ, which is green.<\/span><\/strong><\/p>\n Take the long view and go for a walk. Today is not the day to be selling stocks. But you might eye your favorite stocks and see if they’re “on sale.” I bought a few SBUX this morning. And I’m tempted by UNH, which is way down. I can’t see the Democrats actually getting Medicare for all and destroying successful companies like UNH, which Susan and I personally and happily use for supplement insurance on our own Medicare.<\/p>\n Jim Cramer eviscerates Chinese IPOs.<\/span>\u00a0<\/strong><\/p>\n + They don’t conform to American securities regulations.<\/p>\n + They do ultra-poorly.\u00a0 Cramer instanced 45 IPOs — only six are above water. The rest are all below their closing price on their IPO-day.<\/p>\n I don’t own Chinese stocks. I just don’t trust their reporting.<\/p>\n The last step. Another Don’t Do Stupid<\/span> warning.<\/strong><\/span><\/p>\n From a reader:<\/p>\n My father walked up four steps to see his wife. He handed her a tax doc, then backed down the four steps, as he had done a thousand times.<\/p>\n On the last one step he fell, shattered his hip. He died later in surgery.<\/p>\n It’s Time to Get Your Flu Shot<\/strong><\/span><\/p>\n If you passed up all those flu shot advertisements way back in August, here’s your friendly reminder — courtesy my wonderful doctor, Jerry Clements.<\/p>\n October is the perfect time to go ahead and get your flu shot.<\/p>\n Leaf peeping time of year<\/strong><\/p>\n This map is as of October 12. But you can slide the slider under the chart and see other dates here.<\/a>\u00a0<\/strong>Useful to plan your car trip. This color is peak:\u00a0![\"\"](\"https:\/\/www.technologyinvestor.com\/wp-content\/uploads\/2019\/10\/TenYearsagain.jpg\")
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\nLovely video. The driver did Stupid.<\/strong><\/span><\/p>\n