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Bret Rosenthal
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Bret Rosenthal is Principal of RCM, LLC, and founding partner of the Fortune's Favor Family of Funds. Bret Rosenthal is responsible for the day to day management of the Fund’s investment and business activities. Rosenthal Capital Management, LLC, is an independent investment management company... More
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  • Economic Reality Check: Initial Claims, Chicago PMI, Food Stamp Record, ADP Plunge, Manufacturing ISM, Factory Orders 0 comments
    Jun 2, 2011 11:39 AM

     The last two weeks have ushered in a slew of deplorable economic data points.  I have compiled a list for your convenience below. When you have finished perusing ask yourself this question: Will the Fed really stop quantitative easing at the end of this month?

    I expect your response is: No

    So, the real question is what form will the Q.E. take? Not a question of utmost importance as it is mostly academic. The result of said Q.E. will be the same; further inflation of asset prices and depreciation of the US$.

    May 25th – Initial Claims 424K vs 400K consensus; prior revised to 414K from 409K

    May 31st -Chicago PMI Plummets From 67.6 To 56.6, Biggest Monthly Drop Since Lehman Bankruptcy

    May 31st – Time To Celebrate The Recovery: Food Stamp Usage Hits Fresh Record

    June 1st – Horrible Economic Data Continues: ADP Plunges To 38K On Expectations OF 175K; Downward NFP Revisions Next

    June 1st – Timberrrrr: Manufacturing ISM At Lowest Since September 2009

    June 2nd – Another Economic Disappointment: Initial Claims At 422K On Expectations Of 417K

    June 2nd – Factory Orders Join Parade Of Economic Misses; Inventories Of Manufactured Durable Goods At Highest Ever

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