Canadian PMI comes in at 45 versus expectations of 54. Readings below 50 signal economic contraction.
Now we know what this is all about
And this, for that matter...
The global economy just fell off a cliff
The globalized economy is a colossal Ponzi Scheme in which the vast majority survive on the bread crumbs falling off the table. The possibility of 7 billion people achieving a consumption-oriented lifestyle is zero, so the World Bank conveniently set the poverty line at $1.25/day to legalize global slavery. As long as someone else's children are doing the suffering, it's "all good". Post-2008, this illusion was extended merely by plundering all future generations.