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Brutal new recession indicator: Manufacturing sector contracts for the first time in a decade

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Warning signs keep piling up that the American economy is slowing down, if not headed for an outright recession.

CNBC reports that IHS Markit’s U.S. manufacturing purchasing managers index this month contracted for the first time since September 2009.

“New orders received by manufacturers dropped the most in 10 years, while the data also showed export sales tanked to the lowest level since August 2009,” CNBC reports.

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A major reason for the drop in manufacturing orders has been President Donald Trump’s trade war with China, which has raised the prices of raw materials such as steel and aluminum that are used for manufacturing goods.

Additionally, IHS Markit economics associate director Tim Moore says that this manufacturing slump is impacting the service economy as well.

“The most concerning aspect of the latest data is a slowdown in new business growth to its weakest in a decade, driven by a sharp loss of momentum across the service sector,” Moore explains. “Survey respondents commented on a headwind from subdued corporate spending as softer growth expectations at home and internationally encouraged tighter budget setting.”

The U.S. Treasury bond yield curve also inverted once again on Thursday, which means that interest rates for 10-year treasury bonds were lower than interest rates for 2-year bonds. In the past, an inverted yield curve has been a key sign of a coming economic recession.

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Republican Kevin McCarthy gets taken down by former top GOP colleague

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Rep. Kevin McCarthy (R-CA) was attacked by a former Republican colleague who alleged McCarthy and his fellow members of Congress have allowed the House GOP to become the official shill for the White House.

In a profile for the New York Times, former Oversight Committee Chairman Tom Davis (R-VA) shamed the GOP House for the way that a once-respectable institution has fallen.

“Congress no longer operates as an independent branch of government, but as an appendage of the executive branch,” said Davis. “He is made for that role.”

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Former senator reveals to Maddow how one brave Democrat can reveal key document in impeachment trial

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Near the end of Wednesday's impeachment trial, Chief Justice John Roberts announced that an agreement had been made to allow senators to read supplemental testimony from Vice President Mike Pence aide Jennifer Williams.

The document will remain classified, despite claims that there is no classified material in the document, only evidence that is damning to the president.

"In terms of this document potentially being improperly classified, which is something that has been raised in writing by Rep. Adam Schiff (D-CA) and raised on the floor of the Senate tonight by Rep. Zoe Lofgren (D-CA)," MSNBC anchor Rachel Maddow noted. "Obviously, it was the vice president's office that said it was classified, they are getting publicly criticized for that. If it has been improperly classified and it should be something that the public can see, who adjudicates that?"

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Florida Republican Matt Gaetz admits Trump’s legal defense was ‘like an 8th grade book report’ — only worse

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Rep. Matt Gaetz (R-FL) admitted that President Donald Trump's team of lawyers weren't quite the legal eagles that he thinks they might be, said Politico reporter Andrew Desiderio.

Questioned about his take on the way the case is unfolding in the Senate, Gaetz said that the House presented it like it was going to be on "cable news." For many that may be an insult, but it appears to Gaetz that was a compliment.

Desiderio said that Gaetz then lamented that the White House presented their case more like “an 8th-grade book report.”

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