It seems that fast-food wages can't pay the rent these days, so this week fast-food workers took to the streets in protest. Then panic ensued, and Fox News immediately launched a counter-offensive by putting on a high-priced restaurant lobbyist to argue that America's most titanic and profitable corporations, as well as the largest job creators, can't afford to pay their employees a living wage. If this is true, then capitalism, as we once knew it, has come to a shuttering halt.
The July ISM Manufacturing Survey shows PMI had a blow out increase of 4.5 percentage points to 55.4%. Manufacturing has moved into sold growth with new orders increasing by 6.4 percentage points and production roaring in an 11.6 percentage point gain. Even the employment index increased. Let's hope this month isn't a statistical anomaly for the United States sorely needs her manufacturing base to start humming again.
Russia granted Edward J. Snowden temporary asylum and allowed him to walk free out of a Moscow airport transit zone on Thursday, ending his legal limbo there after more than five weeks.
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