Drudge Retort: The Other Side of the News
Tuesday, October 01, 2019

A measure of U.S. manufacturing unexpectedly fell deeper into contraction, posting the weakest reading since the end of the last recession as a global slowdown and the U.S.-China trade war increasingly weigh on the sector.

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Baltic Dry Index is falling .... but it was going gang busters this summer, will need to see if it stabilizes or not.
www.bloomberg.com

#1 | Posted by AndreaMackris at 2019-10-01 11:29 AM | Reply

Lamp,

So you post White Working Class falling, and manufacturing falling on the same day .... do you not see a connection?

#2 | Posted by AndreaMackris at 2019-10-01 11:30 AM | Reply

"...Only I can fix it." DJT.

I guess he didnt really care.

#3 | Posted by oldwhiskeysour at 2019-10-01 12:17 PM | Reply

@#2 ... So you post White Working Class falling, and manufacturing falling on the same day .... do you not see a connection? ...

It wasn't the same day. I posted the White Working Class article yesterday. :)

But to your point...

The article cited here is this month's data.

The article about the decline of the white working class was a longer time span, i.e., they were looking back 40 years or so.

I do agree, however, that there's been a longer term decline in factory workers as companies moved manufacturing overseas to reap higher profits. However, to analyze that in this thread about monthly data might yield questions conclusions.

#4 | Posted by LampLighter at 2019-10-01 01:03 PM | Reply

@#4

might yield questions conclusions.

should be

might yield questionable conclusions.

(gotta stop posting whilst multitasking... :) )

#5 | Posted by LampLighter at 2019-10-01 03:23 PM | Reply

And guess what Trump did today, he sent a message of congratulations to Chairman Xi to commemorate the 70th Anniversary of Communist rule in China:

www.huffpost.com

OCU

#6 | Posted by OCUser at 2019-10-01 06:52 PM | Reply

@#6

From the huffpost article you cite, Pres Trump's message to Chairman Xi seems to have ruffled some feathers in Congress.

#7 | Posted by LampLighter at 2019-10-01 07:02 PM | Reply

If not for the trade war, the slump would be greater and China's would be lessened.

#8 | Posted by goatman at 2019-10-01 07:10 PM | Reply | Funny: 4

(gotta stop posting whilst multitasking... :) )

#5 | Posted by LampLighter

IKR - BTW - no such thing as "multitasking" it's a myth.

#9 | Posted by GalaxiePete at 2019-10-01 07:22 PM | Reply

#8 | Posted by goatman

Oh puh-lease. The trade war IS the reason.

#10 | Posted by GalaxiePete at 2019-10-01 07:24 PM | Reply

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"Oh puh-lease. The trade war IS the reason.

#10 | POSTED BY GALAXIEPETE"

So the US has to pick up the manufacturing slack created by the trade war's loss of imports and that makes domestic manufacturing worse? How so?

#11 | Posted by goatman at 2019-10-01 07:25 PM | Reply

"If not for the trade war, the slump would be greater and China's would be lessened."

Your comedic talents are wasted here, Goatman.

#12 | Posted by snoofy at 2019-10-01 07:29 PM | Reply | Newsworthy 1

""If not for the trade war, the slump would be greater and China's would be lessened."

Your comedic talents are wasted here, Goatman.
#12 | POSTED BY SNOOFY "

That's your best deflection? LOL

#13 | Posted by goatman at 2019-10-01 07:32 PM | Reply

"We have now tariffed our way into a manufacturing recession in the U.S. and globally," said Peter Boockvar, chief investment officer at Bleakley Advisory Group.

#14 | Posted by AMERICANUNITY at 2019-10-01 07:43 PM | Reply

"and that makes domestic manufacturing worse? How so?"

Here's how:
Bankrupt Steelmaker Closes Plant
drudge.com

#15 | Posted by snoofy at 2019-10-01 08:02 PM | Reply

In Trump World eliminating markets means prosperity.

#16 | Posted by Zed at 2019-10-01 08:08 PM | Reply

This has to be Pres, Obama's fault somehow. Do I have that right comrades?

#17 | Posted by zelkova at 2019-10-01 08:30 PM | Reply

Here's how the 2020 election will shake out:
-The Trump economic team, staffed by failed welders, his children and Arthur Laffer, will have no clue what policy steps to take in the face of sagging economic indicators so will do nothing
-The Fed Chair, spotting an opportunity to screw Trump, will stand pat on interest rate reductions,arguing that economic indicators point in two directions so they will indicate a steady hand and no immediate movement
-As folks loss their jobs and farmers are foreclosed off their land, Der Dotards strongest supporters will slink away from his side
-The impeachment articles will arrive in the Senate, followed by demonstrations of political cowardice unseen in our country's history and Trump will survive being turned out of office, but will take down his party

And that, kids, is how Donald Trump was voted out of office, the GOP was wiped off the map in many states, and Democrat (insert name here) was elected to his/her first of two terms as US president

#18 | Posted by catdog at 2019-10-01 09:24 PM | Reply

So the US has to pick up the manufacturing slack created by the trade war's loss of imports and that makes domestic manufacturing worse? How so?

#11 | POSTED BY GOATMAN AT 2019-10-01 07:25 PM

Because the trade war does not just increase steel prices. Steel is not an end user products. All of the end user products that use steel use other things too. All of those things are in the tarriff list so the people buying steel to make widgets have to pay more for many different things that go into the widgets. They have to pass all those costs onto the customer. The customers are tightening their belts so they buy less which means they need less widgets which means they need less steel which means steel plants go bankrupt

#19 | Posted by hatter5183 at 2019-10-01 10:20 PM | Reply | Newsworthy 1

@#9 ... IKR - BTW - no such thing as "multitasking" it's a myth. ...

Yeah, I've read those articles also.

I use the word to describe a time when I'm trying to do something while there are frequent distractions. In the instance above, I was distracted before I proof-read the comment, and when I came back to the keyboard I forgot to proof-read it, I just posted it.

I guess I shouldn't cook and comment ... :)


#20 | Posted by LampLighter at 2019-10-01 10:21 PM | Reply

"#19 | POSTED BY HATTER5183 "

Thank you for taking the time to reply and your response makes sense except for one thing: That is your claim that consumers are tightening their belts and buying less. This simply isn't true.

"US consumer spending increases solidly"

www.cnbc.com

#21 | Posted by goatman at 2019-10-01 10:27 PM | Reply

"US consumer spending increases solidly"
www.cnbc.com

#21 | POSTED BY GOATMAN AT 2019-10-01 10:27 PM | REPLY |

Consumers slowed spending and businesses cut back on investment in August, signs that a wobbling global economy and rising tariffs are sapping U.S. economic momentum.

www.wsj.com

#22 | Posted by hatter5183 at 2019-10-02 01:46 AM | Reply | Newsworthy 1

"Thank you for taking the time to reply and your response makes sense except for one thing: That is your claim that consumers are tightening their belts and buying less. This simply isn't true.
"US consumer spending increases solidly"
www.cnbc.com
#21 | Posted by goatman at 2019-10-01 10:27 PM"

That might have been true when the link you provided was written (August 30, 2019) which was based on information through July 2019. Even so, that link included a cautionary note:

"The economy is largely losing speed as the stimulus from the White House's $1.5 trillion tax-cut package and a government spending blitz fades. The U.S.-China trade conflict has weighed heavily on manufacturing and business investment, which contracted in the second quarter."

www.cnbc.com

That cautionary note appears to be accurate as more recent information shows a substantial drop in consumer spending for August 2019.

www.bea.gov

#23 | Posted by TrueBlue at 2019-10-02 01:52 AM | Reply

I do agree, however, that there's been a longer term decline in factory workers as companies moved manufacturing overseas to reap higher profits. However, to analyze that in this thread about monthly data might yield questions conclusions.
#4 | POSTED BY LAMPLIGHTER AT 2019-10-01 01:03 PM | FLAG: EYE ROLL

You people are so stupid you don't see what is front of you. It is not jobs going to Asia and Latin America etc etc etc. It is automation. US factories are putting out more work than 30 years ago with A LOT fewer workers.

Face it....there was a time in US history when a person could become wealthy by putting people to work... now people become uber wealthy by putting people out of work.

Its a fact.

Only -------- continue to blame off shoring.

Funny how we can laugh at people hoarding cats, and newspapers... or eating themselves into oblivion and yet we don't see greed, avarice and the hoarding of wealth as a similar sickness. Republicl0wns activities are akin to feeders of a 1000 lb blob sitting there demanding food... blaming the world for alllll the po' lil' ol' me reasons they need to eat more than is healthy for them.

#24 | Posted by RightisTrite at 2019-10-02 06:26 AM | Reply | Newsworthy 2

"Face it....there was a time in US history when a person could become wealthy by putting people to work... now people become uber wealthy by putting people out of work."

Yet people like Mitt Romney are respected, elected and listened to. He is a piece of filth but in Utah voters don't think about things like that.

#25 | Posted by danni at 2019-10-02 08:47 AM | Reply

#24 | POSTED BY RIGHTISTRITE

^^^^THIS!

#26 | Posted by WhoDaMan at 2019-10-02 09:09 AM | Reply

The deregulation of the 1980's changed the rules applied to the governance of corporations and how they are taxed resulting in a system that rewards psychopathy. There used to be some "guard rails" on the greed of the "owner class" that encouraged better civic behavior. Then they allowed favorable tax treatment for compensating corporate officers with stock/options. Then the "conservative" courts decided that the only duty of a corporation is to "maximize shareholder value" on penalty of hostile takeover by "arbatrageurs". That converted the stockmarket from a long-term investment vehicle to a casino crapshoot where the long-term profitability of a company (like an IBM or a GM) mattered less than whether the numbers at the end of the quarter lived up to "analysts" expectations. This created the kind of short-term thinking that does not include the General Welfare of the US as a consideration. Couple that with defining money as "free speech" so that politicians can be openly purchased and well...

#27 | Posted by WhoDaMan at 2019-10-02 09:24 AM | Reply

#24 | POSTED BY RIGHTISTRITE

People can't take responsibility for their decisions, so they have to have someone to blame. If you can't get a good job, whose fault is it? Obviously not your own for choosing a skill is not in demand. Conservatives blame immigrants for their crappy lives and crappy careers. Liberals blame offshoring (corporations).

The reality is that neither of these things are what is harming our economy. What is harming it is the attempt to force jobs to be created for the skills people have, instead of trying to encourage people to learn skills that are in demand.

#28 | Posted by gtbritishskull at 2019-10-02 09:29 AM | Reply

Acquiring "new skills" for a 45-50 year old factory worker is a pretty heavy lift, especially when no help to do so is being provided.

#29 | Posted by WhoDaMan at 2019-10-02 02:13 PM | Reply

Lamp,
So you post White Working Class falling, and manufacturing falling on the same day .... do you not see a connection?

#2 | POSTED BY ANDREAMACKRIS

No, we don't see a connection.

Why don't you explain how a long term decrease in middle class white workers is somehow connected with a short term drop in US factory supply? I'd love to hear how a long term trend over the last several years somehow is connected with this trend taking place in the last few months caused mainly by current economic factors.

Or were you just making things up like usual?

#30 | Posted by Sycophant at 2019-10-02 02:34 PM | Reply

Your comedic talents are wasted here, Goatman.
#12 | POSTED BY SNOOFY "
That's your best deflection? LOL
#13 | POSTED BY GOATMAN

^
I was wrong.
You got four Funny Flags for your hilarious joke that I thought was too subtle for this place.
Congratulations, you built that!

#31 | Posted by snoofy at 2019-10-02 02:43 PM | Reply

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