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April 16, 2003

Manufacturing Collapse

The economy continues to sink.

Industrial production seems to be in free fall as the Federal Reserve reported that industrial production - or output from the nation's factories, mines and utilities - sank by 0.5 per cent in March, following a downwardly revised 0.1 per cent decline in February.

This is far larger than expected with declines in car production and in utility output leading the way, but the fall came in every main category outside mining.

Here's the bottom line-- manufacturing is operating more than 27 per cent below its potential - the lowest level since 1983.

Posted by Nathan at April 16, 2003 08:10 AM

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NathanNewman wrote: "Here's the bottom line-- manufacturing is operating more than 27 per cent below its potential - the lowest level since 1983."

But the Bush tax plan will save the day. By giving even more tax cuts to the rich, Bush will be freeing up more money among the rich to invest. By, for instance, expanding their operations, building more factories, enhancing assembly lines, filling up those warehouses of unsold goods, etc.

Which will increase our manufacturing potential!

We'll be producing more and more goods, needing to build more and more warehouses to store all of those goods, which are already full with things that no one is buying.

Hey, wait a minute.

Posted by: The Tooth at April 16, 2003 11:33 AM

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Posted by: Denton at July 6, 2004 11:30 AM

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