Results 1 to 30 of 30

Thread: Manufacturing is now officially in recession

  1. #1

    Manufacturing is now officially in recession

    During President Trump’s first two years in office, his standing with many voters was buoyed by a surge in manufacturing that helped create millions of jobs and undergirded the whole U.S. economy.

    But today, manufacturing has plunged into recession and is threatening to pull down other sectors, perhaps hitting hardest on supporters in those states that helped put Trump in office.

    Impeachment may be dominating the news, but the less-noticed industrial slump ultimately could pose a greater threat to Trump’s reelection.
    As measured by the Federal Reserve, manufacturing output shrank over two straight quarters this year. That’s the common definition of recession.

    A separate, widely followed index drawn from purchasing managers showed September’s contraction in manufacturing was the steepest since June 2009, with production, inventories and new orders all falling.

    And after adding nearly half a million jobs in the prior two years, which Trump frequently stressed in hard-hat rallies throughout the Midwest, manufacturing employment has stalled.

    Instead of healthy job growth, layoff announcements have surged this year, especially in battleground states such as Pennsylvania and Michigan. Friday’s jobs report for September showed a slight drop in total factory jobs.

    Manufacturing today accounts for only about 10% of economic activity, and so far, the overall economy and employment in the U.S. are still growing. But the pace has slowed considerably this year. The faltering industrial sector has started to crimp businesses in the transportation and warehousing sectors. And there are growing worries of spillover effects in the larger services sector and broader economy.
    https://www.latimes.com/politics/sto...g-in-recession
    "The one permanent emotion of the inferior man is fear - fear of the unknown, the complex, the inexplicable. What he wants above everything else is safety."
    H. L. Mencken



  2. Remove this section of ads by registering.
  3. #2
    Originally Posted by Swordsmyth

    Recent news articles reinforce reports that have been carried by major-media outlets for over a year: Employment levels in blue-collar jobs have been growing at their fastest rate in more than 30 years, with most of the growth taking place since Donald Trump took office.
    The Investment Watch blog ran a report on October 12 that was headlined “Under Trump, employment for the non-college-educated is the best it’s been in 50 years.” The article noted: “Blue-collar professionals such as plumbers and mechanics are earning more than the average salary for white-collar jobs — and they don’t require a traditional college degree, according to a recent Bloomberg report.”
    That statement is particularly significant in the face of multiple reports in the news of late about the burden of college debt. CNBC reported last year that more than 44 million Americans collectively hold nearly $1.5 trillion in student debt. When they graduate, the average student loan borrower has $37,172 in student loans, a $20,000 increase from 13 years ago.

    The article noted that though college graduates still earn more than non-graduates, avoiding student debt could make trade schools more appealing. Many trade programs are covered in part by employers, and state-sponsored programs in Michigan and Georgia offer trade degrees tuition-free.
    This phenomenon was analyzed by reporters at Issues & Insights last May.
    The Issues & Insights writers found from analyzing the data that 1.2 million goods-producing jobs were created in the U.S. economy since Trump took office — more than twice as many as were created during the last 27 months of the Obama administration.
    During Obama’s last 27 months in office, the economy created 109,000 manufacturing jobs, compared with 470,000 created from January 2017 through May 2019 under Trump. Jobs in the durable-goods manufacturing industry declined during this time under Obama.
    Blue-collar workers are seeing stronger wage gains as well, noted the report, with weekly wages for goods-producing jobs up $70 under Trump compared with $39 under Obama.

    More at: https://www.thenewamerican.com/econo...s-50-year-high
    ...
    Never attempt to teach a pig to sing; it wastes your time and annoys the pig.

    Robert Heinlein

    Give a man an inch and right away he thinks he's a ruler

    Groucho Marx

    I love mankind…it’s people I can’t stand.

    Linus, from the Peanuts comic

    You cannot have liberty without morality and morality without faith

    Alexis de Torqueville

    Those who fail to learn from the past are condemned to repeat it.
    Those who learn from the past are condemned to watch everybody else repeat it

    A Zero Hedge comment

  4. #3

  5. #4
    LA Times is mostly liberal they will only post positive when they have a liberal president.

  6. #5
    Quote Originally Posted by AngryCanadian View Post
    LA Times is mostly liberal they will only post positive when they have a liberal president.
    CNN works this way as well.
    "Perhaps one of the most important accomplishments of my administration is minding my own business."

    Calvin Coolidge

  7. #6

  8. #7
    Everybody except Cummins is still hiring around here .
    Do something Danke

  9. #8
    Orange man destroying world economy.
    September 2019 Manufacturing ISM report
    https://www.instituteforsupplymanage...ort/mfgrob.cfm
    “Continued softening in the global automotive market. Trade-war impacts also have localized effects, particularly in select export markets. Seeing warehouses filling again after what appeared to be a short reduction of demand.” (Chemical Products)
    Orange man taking down Canada.
    Rail Traffic for the Week Ending October 5, 2019
    https://www.aar.org/news/rail-traffi...ctober-5-2019/
    Canadian railroads reported 76,176 carloads for the week, down 11.7 percent
    Journalists gotta journal.

    XNN
    "They sell us the president the same way they sell us our clothes and our cars. They sell us every thing from youth to religion the same time they sell us our wars. I want to know who the men in the shadows are. I want to hear somebody asking them why. They can be counted on to tell us who our enemies are but theyre never the ones to fight or to die." - Jackson Browne Lives In The Balance



  10. Remove this section of ads by registering.
  11. #9
    Pennsylvania factory layoff foreshadows Trump 2020 troubles

    Management decisions that might have slid by in more flush times can now push a business over the edge.

    A worker sands at the Wood-Mode facility. The workers at the factory who used to just do one job are now asked to perform several.Mark Makela / for NBC News
    Oct. 22, 2019, 8:43 AM EDT / Updated Oct. 22, 2019, 9:22 AM EDT
    By Ben Popken
    A manufacturing recession may already be under way in vulnerable swing states, challenging President Donald Trump’s campaign promise to deliver blue-collar jobs to his base.
    Out of the 21 states with manufacturing job losses so far this year, some of those with the biggest percentage declines are states where Trump won by less than 5 percentage points. In Pennsylvania, the manufacturing sector lost 8,100 jobs. In North Carolina, it was 7,700, and Wisconsin lost 6,500 jobs.

  12. #10
    Quote Originally Posted by enhanced_deficit View Post
    In North Carolina, it was 7,700,
    I can get you a manufacturing job tomorrow.

  13. #11
    Putting tinker toy parts together in the US that were made in a foreign country isn't "manufacturing".

    US "manufacturing" jobs claims is alot of smoke and mirrors.
    Whenever you find yourself on the side of the majority, it is time to pause and reflect - Mark Twain

  14. #12
    Quote Originally Posted by Todd View Post
    Putting tinker toy parts together in the US that were made in a foreign country isn't "manufacturing".

    US "manufacturing" jobs claims is alot of smoke and mirrors.
    Then we need Trump's tariffs to continue reversing the damage that was done through trade warfare.
    Never attempt to teach a pig to sing; it wastes your time and annoys the pig.

    Robert Heinlein

    Give a man an inch and right away he thinks he's a ruler

    Groucho Marx

    I love mankind…it’s people I can’t stand.

    Linus, from the Peanuts comic

    You cannot have liberty without morality and morality without faith

    Alexis de Torqueville

    Those who fail to learn from the past are condemned to repeat it.
    Those who learn from the past are condemned to watch everybody else repeat it

    A Zero Hedge comment

  15. #13
    Quote Originally Posted by Swordsmyth View Post
    Then we need Trump's tariffs to continue reversing the damage that was done through trade warfare.

    Look skippy, tariff's don't help anyone in the long run. So just stop the bull$#@!.

    Anybody who's been here for any length of time and has an understanding of economics knows damn well that Trumps tariff's aren't doing jack for the "manufacturing" base in this country. Those jobs are NEVER coming back....and why would we want them too. Only a small amount of sectors ever benefit from tariff's. They overwhelmingly wreck industries in the long run and most definitely wreck consumers in the US.

    It's amazing to me that someone like you and your ilk come here and spout this economic nonsense when a cursory search of any Austrian policy literature or any sound libertarian economic blog/site will tell you it's all a bunch of $#@!.

    It's bizzarro world that some of us have to remind people of this around here.
    Whenever you find yourself on the side of the majority, it is time to pause and reflect - Mark Twain

  16. #14
    Whenever you find yourself on the side of the majority, it is time to pause and reflect - Mark Twain

  17. #15
    Whenever you find yourself on the side of the majority, it is time to pause and reflect - Mark Twain

  18. #16
    Quote Originally Posted by Todd View Post
    Those jobs are NEVER coming back....and why would we want them too.
    “Significant sectors of our society are dying prematurely from preventable deaths (deaths of despair) and almost 20% of prime aged males are out of the labor force,” according to a recent Brookings report, “Geography of Desperation in America.”
    “What’s interesting is that Hispanics and blacks who started off at lower levels of life expectancy, they have continued to make progress. They’re not in the deaths of despair category for the most part,” Brookings Institution’s senior fellow Carol Graham told Yahoo Finance, adding that “The entire trend is driven by premature mortality among less-than-college-educated whites, mainly in the middle-aged years. That’s a pretty big marker that something’s really wrong.”
    The highest mortality rates are most prevalent in America’s heartland, in states such as Arkansas, Mississippi, Alabama, Tennessee, and Kentucky, Brookings found. Those regions are precisely the places where the manufacturing and coal mining jobs that used to provide predominantly men without college degrees a lower-middle-class existence as blue-collar workers have disappeared.

    “We uncovered those death patterns,” Graham says. “What struck me is that poor African-Americans were three times as likely to be optimistic about the future as poor whites,” Graham said. “The metric that really stands out is not sort of happy, unhappy. Happy today doesn’t matter a whole lot. It’s hope for the future or lack thereof that’s really linked with premature mortality.”
    “Women and blacks became more optimistic over time, beginning in the 1970’s when gender and civil rights improved,” Graham wrote in the report. “The one group that experienced drops in optimism around the same time were less-than-college-educated white males, not coincidentally when the decline in manufacturing began.”
    https://www.yahoo.com/finance/news/d...130633528.html



  19. Remove this section of ads by registering.
  20. #17
    Quote Originally Posted by Todd View Post
    Look skippy, tariff's don't help anyone in the long run. So just stop the bull$#@!.

    Anybody who's been here for any length of time and has an understanding of economics knows damn well that Trumps tariff's aren't doing jack for the "manufacturing" base in this country. Those jobs are NEVER coming back....and why would we want them too. Only a small amount of sectors ever benefit from tariff's. They overwhelmingly wreck industries in the long run and most definitely wreck consumers in the US.

    It's amazing to me that someone like you and your ilk come here and spout this economic nonsense when a cursory search of any Austrian policy literature or any sound libertarian economic blog/site will tell you it's all a bunch of $#@!.

    It's bizzarro world that some of us have to remind people of this around here.
    There is a difference between Protectionist tariffs that are to prop up a failing industry and defensive tariffs that prevent an enemy from destroying a healthy industry.

    And those jobs will come back and we need them, not everybody is cut out for jobs that require high IQ and we are all better off with them working instead of on welfare, more importantly we need economic independence so that we can't be blackmailed into world government.
    Never attempt to teach a pig to sing; it wastes your time and annoys the pig.

    Robert Heinlein

    Give a man an inch and right away he thinks he's a ruler

    Groucho Marx

    I love mankind…it’s people I can’t stand.

    Linus, from the Peanuts comic

    You cannot have liberty without morality and morality without faith

    Alexis de Torqueville

    Those who fail to learn from the past are condemned to repeat it.
    Those who learn from the past are condemned to watch everybody else repeat it

    A Zero Hedge comment

  21. #18
    Whites are evil anyway, even when put out of work by Chinese trade warfare they vote for welfare at much lower rates than colored people.

    Chinese communism is good as long as it saves a few bucks for cash register libertarians.
    Never attempt to teach a pig to sing; it wastes your time and annoys the pig.

    Robert Heinlein

    Give a man an inch and right away he thinks he's a ruler

    Groucho Marx

    I love mankind…it’s people I can’t stand.

    Linus, from the Peanuts comic

    You cannot have liberty without morality and morality without faith

    Alexis de Torqueville

    Those who fail to learn from the past are condemned to repeat it.
    Those who learn from the past are condemned to watch everybody else repeat it

    A Zero Hedge comment

  22. #19
    Not to mention the proliferation of welfare. If I have a choice between supporting someone who is just sitting on their arse all day, or paying a few dollars more for a washing machine so someone can actually work for a living and have some skin in the game, I know what I prefer.
    Quote Originally Posted by timosman View Post
    This is getting silly.
    Quote Originally Posted by Swordsmyth View Post
    It started silly.
    T.S. Elliot's The Hollow Men

  23. #20
    Quote Originally Posted by nobody's_hero View Post
    Not to mention the proliferation of welfare. If I have a choice between supporting someone who is just sitting on their arse all day, or paying a few dollars more for a washing machine so someone can actually work for a living and have some skin in the game, I know what I prefer.
    That's the trouble with cash register libertarians. They don't give a $#@! about their country men because they don't believe in countries. They are globalists. Doesn't bother them that a 10yr. old works 12 hrs. a day stitching their shoes together while a countryman is out of a job. As long as they get it cheaply.

  24. #21
    Quote Originally Posted by AngryCanadian View Post
    LA Times is mostly liberal they will only post positive when they have a liberal president.
    Then they should be posting positive news now.

  25. #22
    Quote Originally Posted by phill4paul View Post
    That's the trouble with cash register libertarians. They don't give a $#@! about their country men because they don't believe in countries. They are globalists. Doesn't bother them that a 10yr. old works 12 hrs. a day stitching their shoes together while a countryman is out of a job. As long as they get it cheaply.

    So, they're greedy, selfish jerks who don't care about the downtrodden? Where have I heard THAT argument against economic sanity before? Wait, don't tell me. It'll come to me.

    And, they care less about their country men than those who advocate shoving guns in some of their country men's faces and stealing from them for the benefit of others of their country men who are, apparently, deemed more worthy? It seems to me I've seen that economic model advocated before too. hmmm....
    Chris

    "Government ... does not exist of necessity, but rather by virtue of a tragic, almost comical combination of klutzy, opportunistic terrorism against sitting ducks whom it pretends to shelter, plus our childish phobia of responsibility, praying to be exempted from the hard reality of life on life's terms." Wolf DeVoon

    "...Make America Great Again. I'm interested in making American FREE again. Then the greatness will come automatically."Ron Paul

  26. #23
    Quote Originally Posted by CCTelander View Post
    So, they're greedy, selfish jerks who don't care about the downtrodden? Where have I heard THAT argument against economic sanity before? Wait, don't tell me. It'll come to me.

    And, they care less about their country men than those who advocate shoving guns in some of their country men's faces and stealing from them for the benefit of others of their country men who are, apparently, deemed more worthy? It seems to me I've seen that economic model advocated before too. hmmm....
    You are advocating for the Chinese shoving guns in people's faces and using the proceeds to put Americans out of work and on welfare so that they will vote in full Chinese style communism here.

    That's not economic sanity, it's economic suicide.

    Your argument against defensive tariffs makes as much sense as that of pacifists against guns.
    Never attempt to teach a pig to sing; it wastes your time and annoys the pig.

    Robert Heinlein

    Give a man an inch and right away he thinks he's a ruler

    Groucho Marx

    I love mankind…it’s people I can’t stand.

    Linus, from the Peanuts comic

    You cannot have liberty without morality and morality without faith

    Alexis de Torqueville

    Those who fail to learn from the past are condemned to repeat it.
    Those who learn from the past are condemned to watch everybody else repeat it

    A Zero Hedge comment

  27. #24
    Quote Originally Posted by Swordsmyth View Post
    You are advocating for the Chinese shoving guns in people's faces and using the proceeds to put Americans out of work and on welfare so that they will vote in full Chinese style communism here.

    That's not economic sanity, it's economic suicide.

    Your argument against defensive tariffs makes as much sense as that of pacifists against guns.

    I've done nothing of the kind. You're deliberately and deceitfully mischaracterizing what I said, again. Par for the course, I guess.
    Chris

    "Government ... does not exist of necessity, but rather by virtue of a tragic, almost comical combination of klutzy, opportunistic terrorism against sitting ducks whom it pretends to shelter, plus our childish phobia of responsibility, praying to be exempted from the hard reality of life on life's terms." Wolf DeVoon

    "...Make America Great Again. I'm interested in making American FREE again. Then the greatness will come automatically."Ron Paul



  28. Remove this section of ads by registering.
  29. #25
    Quote Originally Posted by Todd View Post
    It's amazing to me that someone like you and your ilk come here and spout this economic nonsense when a cursory search of any Austrian policy literature or any sound libertarian economic blog/site will tell you it's all a bunch of $#@!.

    It's bizzarro world that some of us have to remind people of this around here.
    Just curious if you're able to name one person on this forum who believes that tariffs in the longer term are positive for an economy?

  30. #26
    Quote Originally Posted by enhanced_deficit View Post
    Pennsylvania factory layoff foreshadows Trump 2020 troubles

    Management decisions that might have slid by in more flush times can now push a business over the edge.

    A worker sands at the Wood-Mode facility. The workers at the factory who used to just do one job are now asked to perform several.Mark Makela / for NBC News
    Oct. 22, 2019, 8:43 AM EDT / Updated Oct. 22, 2019, 9:22 AM EDT
    By Ben Popken
    Orange Man Bad. Administration fails to get involved in local tax dispute where company owner is holding taxpayers hostage with employee jobs. Thank you so much NBC for that great investigative journalism. Do 23 year olds not have time to do Google-Fu anymore???

    French told the assessment appeals board that he has rehired 250 former Wood-Mode Inc. employees and hopes the revived custom cabinet manufacturing company will "eventually be profitable. A more realistic tax rate would help."

    In the event the board denies the reassessment request, French could appeal to the county court. Cook said only one case has gone to court in the past decade.
    https://www.dailyitem.com/news/snyde...3a478c7f2.html

    I guess local deplorable newpapers are just too f*kin stoopid to understand that the national narrative is what's important here.

    XNN
    "They sell us the president the same way they sell us our clothes and our cars. They sell us every thing from youth to religion the same time they sell us our wars. I want to know who the men in the shadows are. I want to hear somebody asking them why. They can be counted on to tell us who our enemies are but theyre never the ones to fight or to die." - Jackson Browne Lives In The Balance

  31. #27
    Quote Originally Posted by Todd View Post
    Look skippy, tariff's don't help anyone in the long run. So just stop the bull$#@!.

    Anybody who's been here for any length of time and has an understanding of economics knows damn well that Trumps tariff's aren't doing jack for the "manufacturing" base in this country. Those jobs are NEVER coming back....and why would we want them too. Only a small amount of sectors ever benefit from tariff's. They overwhelmingly wreck industries in the long run and most definitely wreck consumers in the US.

    It's amazing to me that someone like you and your ilk come here and spout this economic nonsense when a cursory search of any Austrian policy literature or any sound libertarian economic blog/site will tell you it's all a bunch of $#@!.

    It's bizzarro world that some of us have to remind people of this around here.
    Let me ask a hypothetical. Please don't argue the premise. Just a simple yes or no will work.

    Suppose I could magically guarantee that a single month of extremely high tariffs imposed by the US on China would force China to agree to 100% free trade, and zero tariffs between our two countries.

    In such a world, would the temporary tariff be good or bad for the economy? Yes, or no?

  32. #28
    Quote Originally Posted by fcreature View Post
    Let me ask a hypothetical. Please don't argue the premise. Just a simple yes or no will work.

    Suppose I could magically guarantee that a single month of extremely high tariffs imposed by the US on China would force China to agree to 100% free trade, and zero tariffs between our two countries.

    In such a world, would the temporary tariff be good or bad for the economy? Yes, or no?
    No.

    And since you want to skew the conversation binary then that's the answer you get.

    The problem with these dumb ass thought processes is exactly in your post. It's all "magical" thinking that there is no backlash on American industry with tariff's.
    Whenever you find yourself on the side of the majority, it is time to pause and reflect - Mark Twain

  33. #29
    Quote Originally Posted by CCTelander View Post
    So, they're greedy, selfish jerks who don't care about the downtrodden? Where have I heard THAT argument against economic sanity before? Wait, don't tell me. It'll come to me.

    And, they care less about their country men than those who advocate shoving guns in some of their country men's faces and stealing from them for the benefit of others of their country men who are, apparently, deemed more worthy? It seems to me I've seen that economic model advocated before too. hmmm....
    Yeah, they are. That is EXACTLY the definition of a cash register libertarian. You got it. Congrats.

  34. #30
    Quote Originally Posted by Todd View Post
    No.

    And since you want to skew the conversation binary then that's the answer you get.

    The problem with these dumb ass thought processes is exactly in your post. It's all "magical" thinking that there is no backlash on American industry with tariff's.
    It's no more magical than your thinking that trade warfare doesn't harm American industry.
    Never attempt to teach a pig to sing; it wastes your time and annoys the pig.

    Robert Heinlein

    Give a man an inch and right away he thinks he's a ruler

    Groucho Marx

    I love mankind…it’s people I can’t stand.

    Linus, from the Peanuts comic

    You cannot have liberty without morality and morality without faith

    Alexis de Torqueville

    Those who fail to learn from the past are condemned to repeat it.
    Those who learn from the past are condemned to watch everybody else repeat it

    A Zero Hedge comment



Similar Threads

  1. The Recession Officially Over, but U.S. Incomes Kept Falling
    By bobbyw24 in forum Economy & Markets
    Replies: 11
    Last Post: 10-10-2011, 01:23 PM
  2. RPF Car Manufacturing Company...
    By Icymudpuppy in forum Freedom Living
    Replies: 38
    Last Post: 12-17-2009, 02:26 PM
  3. Manufacturing
    By eric_cartman in forum Economy & Markets
    Replies: 4
    Last Post: 03-22-2009, 06:52 PM
  4. The Recession is officially here - NYTimes
    By rexsolomon in forum News About The Official Campaign
    Replies: 1
    Last Post: 02-05-2008, 11:07 AM
  5. Replies: 1
    Last Post: 01-02-2008, 11:30 AM

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •