Mish's Global Economic Trend Analysis |
- Governor Chris Christie Strongly Praises Obama's Response to Sandy; Could Christie's Comments Tip the Election?
- Japan Manufacturing PMI Falls to 18-Month Low
- NY Subway May Take Weeks to Restore Service, 5 Million Affected; 80 Flooded Homes Destroyed by Fire; Stunning Flood and Fire Images
- Greece Coalition Splinters, Austerity Vote Delayed, PM Warns of 'Chaos'; Another Puppet Show or Is This For Real?
- 670,000 Without Power in NYC; Flood Crests 13.88 Feet, Besting 1960 Record of 10.02 Feet; Wall Street Flooded
Posted: 30 Oct 2012 11:01 PM PDT Here's a headline story including an interview on Fox news that caught me by surprise: New Jersey Chris Christie Praises Obama, Doesn't 'Give a Damn' about Election Day The presidential candidates have canceled all campaign events on Tuesday, but Republican New Jersey Chris Christie seemed to be stumping for President Barack Obama by appearing on several networks to praise the federal response to Hurricane Sandy.Chris Christie Video Will Christie's Comments Tip the Election? New Jersey, Christie's home state is solidly in the Obama column. However, storm-damaged Virginia is in a virtual dead heat. Praise from Governor Christie certainly cannot hurt Obama's election chances. Mathematically, I do not believe Romney can win if he loses either Ohio or Virginia. Romney certainly cannot win if he loses both of them. Here is question of the day: Is this genuine praise or is Christie looking to run for president in four years? I suggest both. Regardless, widespread perception that Obama is doing a good job in response to Sandy, fueled by gushing praise from Christie may be enough to tip Virginia into the Obama column, and the election right with it. Mike "Mish" Shedlock http://globaleconomicanalysis.blogspot.com "Wine Country" Economic Conference Hosted By Mish Click on Image to Learn More |
Japan Manufacturing PMI Falls to 18-Month Low Posted: 30 Oct 2012 08:15 PM PDT The Japanese economy continues to skid as evidenced by the October Japan Manufacturing PMI™ Key pointsI have little to add that I have not said before numerous times. The entire global economy is heading South in a major way, and Japan is in serious trouble given its monstrous debt levels. Mike "Mish" Shedlock http://globaleconomicanalysis.blogspot.com |
Posted: 30 Oct 2012 11:41 AM PDT Hurricane Sandy has moved on but the damage remains. The following picture of Times Square posted on Gizmodo caught my eye. Fortunately, it does not look real. Lights should not be on and there would be debris everywhere. However, the Metra chairman did say water was "literally up to the ceiling" at one downtown station, so take this image and use your imagination, adding dead rats, debris, and whatever else suits your fancy. Bloomberg reports the New York Subway System May Take Weeks to Recover From Flooding. Restoring service on New York subway lines that have been flooded could take weeks, said Mortimer Downey, a former MTA executive director and current board member of the Washington Metropolitan Area Transit Authority.Previous reports said the New York city subway would remain closed for 14 hours to four days. Unprecedented Challenges Reuters reports Sandy leaves unprecedented challenges for New York City subways The giant storm Sandy wreaked havoc on the New York City subway system, flooding tunnels, garages and rail yards and threatening to paralyze the nation's largest mass-transit system for days.ABC Video Link if Video does not play: Sandy Floods NYC Subway System 80 Flooded Homes Destroyed by Fire The Huffington Post reports At least 80 Flooded Houses Destroyed By NYC Blaze. A huge fire destroyed 80 to 100 houses in a flooded beachfront neighborhood Tuesday, forcing firefighters to undertake daring rescues and injuring three people.Click on preceding link for a video and images of the fire. The economic losses from Sandy will far exceed the physical damages. Ridership losses on the NY subway alone will be catastrophic. Mike "Mish" Shedlock http://globaleconomicanalysis.blogspot.com |
Posted: 30 Oct 2012 09:39 AM PDT In Greece, Prime Minister Antonis Samaras coalition has split. The result is yet another delay in an austerity vote required for the next tranche of loans to Greece, and the PM warns of 'chaos'. Greece's conservative Prime Minister Antonis Samaras is at odds with the Democratic Left party, a coalition partner, which is threatening to vote against the new austerity measures unless labor reforms included in them are scrapped.Another Puppet Show or Is This For Real? Is the inevitable about to happen or is this simply another puppet show for the masses? Having seen so many puppet shows only to see the leftist puppets succumb to warnings of chaos or worse, I simply do not know. However, when this coalition finally does splinter to smithereens, the radical left will win the next election and promptly tell the Troika to go to hell. Mike "Mish" Shedlock http://globaleconomicanalysis.blogspot.com |
Posted: 30 Oct 2012 01:12 AM PDT The good news for New York City is the storm crest has peaked. The bad news is the cleanup will take days, or longer, and much of the city is blacked-out. Please consider Hurricane Sandy's Waters Flood Blacked-Out New York City. Hurricane Sandy sent floodwater gushing into New York's five boroughs, submerging cars, tunnels and the subway system and plunging skyscrapers and neighborhoods into darkness. Two deaths were reported in Queens and more than 670,000 were without power in the region as of 11:30 p.m. local time yesterday, according to Consolidated Edison Inc.Anything electrical that salt water touches is likely ruined. If those subway systems were badly-flooded, there are going to be serious repercussions. We will know more Tuesday morning. Mike "Mish" Shedlock http://globaleconomicanalysis.blogspot.com |
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