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Wednesday, October 24, 2012

Eurozone Economic Downturn worsening - why's that a surprise to anyone but the 'EXPERTS'?

These so-called 'EXPERTS' always act surprised when their Sunny Happy Days expectations turn to Rainy Gloomy Miserable Days. Anyone with half a brain, or make that a quarter of a brain, understands there has been no recovery, and there will not be as long as the Central Planners keep trying to fix things that they themselves broke! Think Soviet Union with their 5 Year Economic Plans that were going to create a New America in Russia. These Central Bankers and their Political lapdogs are going to generate the same kind of results as we saw in the former Soviet Union.

(Reuters) - Euro zone businesses in October suffered their worst month since the bloc emerged from its last recession more than three years ago, forcing them to cut more jobs to reduce costs, surveys showed on Wednesday.
The downturn that began in smaller periphery countries is now gripping Germany and France, dragging the euro zone as a whole deeper into the quagmire.
Markit's Composite Purchasing Managers' Index (PMI), which polls around 5,000 businesses across the 17-nation bloc and is viewed as a reliable growth indicator, fell to 45.8 this month from a September reading of 46.1.
It is the lowest reading since June 2009 and confounded consensus expectations in a Reuters poll for a rise to 46.4. The index has now been below the 50 mark that separates growth from contraction since February.
"It's very disappointing, it's a depressing scenario as things are getting worse," said Chris Williamson, chief economist at data collator Markit.

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