Economic Report: Is Manufacturing Producing A U.S. Recession For '08?

Omaha Steve

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Sat Jan-05-08 07:45 PM
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Economic Report: Is Manufacturing Producing A U.S. Recession For '08?

http://www.laborradio.org/node/7619

By Jesse Russell

The most recent data to suggest 2008 may see the United States barreling into an economic recession comes from the manufacturing sector. According to the Institute for Supply Management, the factory index to 47.7 from 50.8 the month before. When the index slips under 50, manufacturing is considered to be in contraction. The index has been falling for six months straight and it is the biggest shrink since 2003. The last time manufacturing experienced a contraction this long was in 2001.

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Deja Q

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Sat Jan-05-08 07:46 PM
Response to Original message

1. Nobody buyin' Big Macs anymore?

Unfortunately, thanks to automation, manufacturing as a job, around the world, is in decline.

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Triana

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Sat Jan-05-08 07:55 PM
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2. I didn't realize we manufactured anything....doesn't everything come from

China, or SriLanka or Pakistan or wherever?

;)

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beberocks

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Sat Jan-05-08 08:02 PM
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3. Goes deeper than that. People can't use their houses as ATMs anymore

People were supplementing their spending power by taking out home equity loans. Now that home prices are falling, no more loans means fewer purchases and a bad recession. The only silver lining to this situation (IMO) is that people will start to be resent how much money is being squandered in Iraq--using just a fraction of that money to rebuild the infrastructure in the U.S. would generate jobs here.

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madrchsod

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Sat Jan-05-08 08:11 PM
Response to Reply #3

4. exactly......the democrats need to hammer the republicans......oh shit-

to many democrats went along with this war...i guess there is plenty of blame to go around on the war issue, isn`t there?

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90-percent

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Sat Jan-05-08 08:21 PM
Response to Original message

5. Recommended reading

Edited on Sat Jan-05-08 08:22 PM by 90-percent

and listening. this guys talk on NPR really resonated with me.

http://www.npr.org/templates/story/story.php?storyId=17808622&ft=1&f=1006

Enjoy

-90% Jimmy

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Loge23

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Sat Jan-05-08 08:30 PM
Response to Original message

6. Another fine product from Bushco

One of the many disasters wrought by the Republicans and their idiot child, Bush, is this current economic situation.
Of all the mysteries about this administration's ability to evade accountability for their horrors; how about the undeniable fact that they inherited a surplus, squandered it, and turned it into a deficit so deep that we may never climb out of it. That's a tough one to spin.
My question to any Republican is how they can continue to support their party after this unprecedented disaster of their own doing? Why would anyone vote for these people??

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