Our Short Manufacturing Revival is starting to Die

[Neubarth]

DURABLE ORDERS

JUN 2010 –1.0 %
MAY 2010 –0.8 %

As the orders start to go, so goes manufacturing. Looks like we will see even more layoffs, and all of the millions who were laid off in 2008 have not found jobs. Things are getting really shitty. We need a socialist managed work environment to save the workers from the oppression of the rich industrialists.

 

[xotoxi]

DURABLE ORDERS

JUN 2010 –1.0 %
MAY 2010 –0.8 %

As the orders start to go, so goes manufacturing. Looks like we will see even more layoffs, and all of the millions who were laid off in 2008 have not found jobs. Things are getting really shitty. We need a socialist managed work environment to save the workers from the oppression of the rich industrialists.

I just shit my pants.

 

[Neubarth]

DURABLE ORDERS

JUN 2010 –1.0 %
MAY 2010 –0.8 %

As the orders start to go, so goes manufacturing. Looks like we will see even more layoffs, and all of the millions who were laid off in 2008 have not found jobs. Things are getting really shitty. We need a socialist managed work environment to save the workers from the oppression of the rich industrialists.

I just shit my pants.

Yep, Wet Farts can be dangerous. That is what we have happening with our economy. We need the Fearless Leader to intervene and do away with private industry. It is mostly failing. We need to put the means of production in the hands of the state.

 

[boedicca]

The Beige Book isn't very optimistic either.

U.S. economic activity rose only modestly in June and the first half of July, the Federal Reserve said in a report Wednesday, in another sign that the recovery may be running out of steam.

In its latest beige book report, the Fed said economic conditions continued to improve in most of its 12 regional districts, but the advances were modest, with retail sales posting only small gains and housing and construction remaining weak. Bank lending, meanwhile, was still tight.

The Fed said overall activity was broadly flat in the Cleveland and Kansas City districts compared to the previous beige book, while Chicago and Atlanta reported that the pace of economic activity recently slowed. The Atlanta district -- which includes Alabama, Florida, Georgia, and portions of Louisiana and Mississippi -- noted concerns about lower leisure travel to the Gulf Coast.

The U.S. economy has been expanding at a moderate pace for most of the past year, gradually recovering from the deepest recession in many decades. However, economic data for June have pointed to a possible slowdown, especially in consumer spending and in an already weak housing sector....

Beige Book: Activity Rose Just Modestly - WSJ.com


Given the severity of the recession, we should have had a good strong bounce of economic growth in 7-9% range by now. Instead, we are limping around 3% - which is not enough to generate sufficient private jobs to make a meaningful impact on employment levels.