Drudge Retort: The Other Side of the News
Thursday, September 19, 2019

U.S. Steel Corp. shares plunged the most in more than a year after the company said it expects to report a wider loss than analysts were expecting, the third American steelmaker in three days to warn on their outlook.

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"I alone can fix"

Coal?
Manufacturing?
Now steel

FAILS

I would be embarrassed for today's "conservative" cult of lies and falsehood, but I know they have 0 shame and even less morals

#1 | Posted by Chieftutmoses at 2019-09-19 11:32 AM | Reply | Newsworthy 2

Currently we are the strongest world economy and sales to other countries are down. Since many of our companies in many sectors sell on the global market this is not surprising.

#2 | Posted by MSgt at 2019-09-19 11:41 AM | Reply

@#2 ... Since many of our companies in many sectors sell on the global market this is not surprising. ...

This was echoed in the cited article:

... Since the tariffs were announced in 2018, shares of U.S. steelmakers have slumped amid mounting concern that U.S.-China trade tensions threaten global economic growth and demand for the commodity. ...

Pres Trump's trade war seems to be hurting the global economy to the point that US companies are being affected.


#3 | Posted by LampLighter at 2019-09-19 11:50 AM | Reply

Pres Trump's trade war seems to be hurting the global economy to the point that US companies are being affected.

Yes, Blame Trump ...

But does it withstand logic?

Meaning RoW steel should be cheaper than before the tariffs, it would stimulate demand in RoW by lower prices and increase supply.
www.spglobal.com

www.financialexpress.com

Or is it that the US purchasing drives the Steel market?

Which means by blaming Trump you'd rather support RoW, than people at home.

The article is a political piece first ... as my links indicate there is much going on in the RoW they seem to ignore.

#4 | Posted by AndreaMackris at 2019-09-19 12:09 PM | Reply | Newsworthy 1

@#4 ... Which means by blaming Trump you'd rather support RoW, than people at home. ...

Not knowing what RoW is, I cannot answer that statement. (Right of Way?)

But if now any aspect of "blaming trump" means that I don't support the people at home, well, that shows nothing but a weak argument on your side.

Especially since I've been arguing here that Trump needs to live up to his promise and bring manufacturing jobs back home, and not just shift those jobs from China to other countries.

Nice try, though.

#5 | Posted by LampLighter at 2019-09-19 12:21 PM | Reply

#2 | Posted by MSgt

I am not sure how you define strongest world economy. I would say that is China still at the moment because their growth is still twice ours.

You are right our sales to other countries are down - thank you tariffs. US Steel on the other hand sells mostly in the US for the US domestic Market. And with manufacturing moving to other countries and as pointed out sales to other countries down it sure doesn't help their position. But then again the Tariffs were going to give them a huge boost vs the foreign steel flooding the markets because the American manufacturers would come running back them - and that only lasted about half a minute.

#6 | Posted by GalaxiePete at 2019-09-19 12:41 PM | Reply

Msgt didn't define anything

This was inboxed to him from red state so of course he rolled with it

#7 | Posted by ChiefTutMoses at 2019-09-19 03:07 PM | Reply

"America First"

I had to laugh the first time I heard that. It was a campaign slogan that didn't mean anything more to Trump than "Mexico will pay for the wall."

When will we ever learn? When Trump says one thing, it's a safe bet that he means the exact opposite.

Yes, I know, the economy seems to be chugging along ~ propped up for the moment. But all indexes says we in for a great fall ~ a recession ~ by the end of the year. And perhaps that's been part of the master plan from the beginning ~ a concoction between Trump and Vladimir Putin to force America to its knees.

The silver bullet on November 5, 2019 will be our vote.

#8 | Posted by Twinpac at 2019-09-20 02:07 AM | Reply | Newsworthy 1

I wonder what happened to Trump's boast ~ "Steel mills are opening up all over the country"

#9 | Posted by Twinpac at 2019-09-20 05:59 AM | Reply

Tariffs by EO will never motivate investors to build a new steel factory because the next President will definitely cancel all Trump's EOs. Certainty is necessary for investors to build new factories and and EO does not offer certainty. And then Jeff says I never took econ 101. I took Life 302. I've lived through this crap so many times that I know what is coming. Trump's economy is going to be Bush's economy, his "house of cards" is getting ready to collapse. And all of us will suffer because of it and none of you Trump supporters will accept any responsibility for it. We've all been here before.

#10 | Posted by danni at 2019-09-20 06:47 AM | Reply

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Trump could have helped the steel industry by asking that republicans pass legislation to spend $1 trillion on infrastructure. Instead he gave it away on tax cuts for the rich.

#11 | Posted by Whatsleft at 2019-09-20 11:35 AM | Reply | Newsworthy 1

"Yes, I know, the economy seems to be chugging along ~ propped up for the moment. But all indexes says we in for a great fall ~ a recession ~ by the end of the year. And perhaps that's been part of the master plan from the beginning ~ a concoction between Trump and Vladimir Putin to force America to its knees."

There are always indexes that say we are in for a great fall. Mainly because when it does happen because it ALWAYS happens cyclically, those people can claim they predicted it. If you really do the research, you will see there are a lot of things happening that we haven't been through before and they are trying to figure out why these things are happening. That uncertainty immediately makes the paranoid people and the people with an agenda (like anyone against Trump) start screaming recession. But in reality, all that's happening right now is that our economy has changed drastically in the last 20 years, mainly due to technology, and there are indicators that are indicating things that financial experts haven't seen before. That's not to say there aren't some indexes showing familiar abnormalities that signal a recession. But there are ALWAYS indexes showing familiar abnormalities that can signal a recession. And typically, they are only taken seriously and rumors are spread by those who hold hate or an agenda against someone who they want to fail.

#12 | Posted by humtake at 2019-09-20 12:13 PM | Reply

WHATSLEFT

"Trump could have helped the steel industry"

Keep in mind (always) that Trump wasn't put in office by Putin to help America. Their mission is to weaken and then finally destroy western democracy.

#13 | Posted by Twinpac at 2019-09-20 12:17 PM | Reply

Yes, Blame Trump ...

No, no, no...

Let's blame Trump's trade wards with China on Obama.

But does it withstand logic?

Thanks to Trump's hamfisted trade war, farmers are hurting and now factory workers are hurting.

I'm sure Russia thanks Trump for making them and China such good trade partners.

#14 | Posted by ClownShack at 2019-09-20 12:23 PM | Reply

CLOWN

Don't count on it. Trump and Russia are both on the same mission track.

#15 | Posted by Twinpac at 2019-09-20 02:43 PM | Reply

Donny Dealmaker strikes out again. WHAT a dufuss!

#16 | Posted by Twinpac at 2019-09-20 02:53 PM | Reply

I don't understand the dynaics here. Why would US steel drop? One of the biggest beefs of this trade war is China dumping steel. Without them doing it, it seems that US steel would rebound.

#17 | Posted by goatman at 2019-09-20 03:01 PM | Reply

US Steel is a bubble that Trump inflated, and now it's popping.

Ask GoNoles if you require further clarification. He was a giddy X investor a few years back.

#18 | Posted by snoofy at 2019-09-20 03:08 PM | Reply

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