Now This Is a Surprise...
Jeff Frankel Discovers McCain "Advisor" Donald Luskin

Yes, It Is a Recession Not Just in Construction and Finance, But in Goods Production too...

The Federal Reserve:

Industrial Production and Capacity Utilization: Industrial production decreased 1.1 percent in August and was revised down in June and July to show smaller gains of 0.2 percent and 0.1 percent respectively. After little movement over the previous three months, factory output was down 1.0 percent in August, in part because of a drop of 11.9 percent in the production of motor vehicles and parts. Excluding motor vehicles and parts, the index for manufacturing decreased 0.3 percent...

For about a year we have been blessing the disconnect between financial chaos and construction depression on the one side and real-side economic "weakness" elsewhere in the economy. Let's hope the disconnect continues. But it looks as though it isn't: the recession has spread out from construction into goods production broadly:

http://economagic.com/em-cgi/daychart.exe/form

http://economagic.com/em-cgi/daychart.exe/form

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