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Post by unlawflcombatnt on Feb 29, 2008 22:20:50 GMT -6
The Feb Chicago PMI manufacturing index was 44.5 ( -7 points). The -7 point decline to 44.5 is the lowest level since December 2001 as the economy was emerging from recession. All the components except prices paid were below the 50 neutral level. New orders were the strongest at 48.8, production at 46.5, Employment came in the lowest at 33.5 (Again, 50 is neutral. Below 50 is contraction, and 33.5 is severe "contraction." Today's report is consistent with the weak levels from the east coast manufacturing indices. The extremely volatile index reached 44.5 in February after roaming from below 48 to above 60 in 2007. The regional index reflects the varied directions of the fragile auto sector and the recessionary housing sector.
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Post by blueneck on Mar 2, 2008 5:31:37 GMT -6
Manufacturing has been in contraction at least nine out of 12 months each year since Bush came in with his hyper voodoo economics, lax regulatory nature and globalism on steroids
we are seeing the death throes of our once great innovation, technology, national defense and middle class wealth generating engine. Tonelson and others are saying we will continue to lose 1.5 million more mfg jobs during the next presidential term if nothing is done. Mfg will be virtually gone in the US in the next decade except for the very few difficult or too costly to outsource operations
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Post by db on Mar 2, 2008 15:35:53 GMT -6
Reap what you sow! Americans voted for Uncle Ronnie and in the process, they got his supply-side, voodoo economics. Add on the Republican: what's good for American business is good for America, i.e. out-sourcing, free trade, etc.; and you get the decline of American manufacturing. So goes American manufacturing, so goes the American middle class. Yes, when Americans voted for the slimy Newt Gingrich and his Contract on America, they cut their nose off to spite their face. When they voted for the Corrupt Bush and the Criminal Tommy Delay, they shot themselves in the foot. Will the middle class survive or have they hung themselves? Will the American Empire survive; will America as we know her survive?
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