Free Republic

Ask a buyer why his company imports goods from Mainland China, and he will have good reasons. Plenty of good reasons. China has a very well-developed supply chain; your vendors can get finished goods made there efficiently, with locally sourced components, because they make all the components nearby too. You can find huge Chinese factories that are conveniently located, close to the seaports, close to the airports. You can buy finished goods made a few miles from the port, or you can buy components with which to make finished goods here in the USA, as so many other manufacturers have...

As we reach the middle of the 21st century, half the population of the world will lose their job to a machine. The latest comes from Moshe Vardi, professor at Rice University , Houston, who delivered a talk to the American Association for the Advancement of Science , exploring the question: "If machines are capable of doing almost any work humans can do, what will humans do?" Vardi reckons that half of workers across the globe will be replaced by machines within the next 30 years, wiping out middle-class jobs and "exacerbating inequality". He noted that robots would take over...

Ah, that wonderful economy O’Biden talks about. It is actually shrinking. The ISM Manufacturing index screams stagflation, as it continues to contract. With “reigniting inflationary pressures. And prices are beginning to take off again.

During his presidency, Barack Obama oversaw the decimation of hundreds of thousands of U.S. manufacturing jobs. Now, without a hint of irony, the former president has unveiled his latest Netflix docuseries titled Working, in which he explores American jobs and the changing nature of work for millions of Americans. Barack Obama stars in and narrates the series, which is set to debut May 17. In the trailer, which the former president released via Twitter on Thursday, he can be seen visiting families in their homes and places of work as they express their concerns about employment and their economic futures.

It is difficult, given what Silicon Valley has become, to convey exactly what it was like in the 1970s and ‘80s. It was a remarkable center of technology, but also the embodiment of the spirit of capitalism at its very best, as epitomized by garage start-ups like Apple. Greed, of course, is always a human motivation, but the early Valley culture was created by entrepreneurial outsiders who genuinely wanted to make the world better. In the early days of the tech revolution, some watchers imagined an almost utopian, communitarian society on the horizon. In 1972, the California writer and zeitgeist...

I read over the weekend that the Biden Administration was planning to unleash its army of social influencers on us to hype Biden’s economic accomplishments before the Presidential election. I am not one of his preferred social influencers. In fact, the US economy is slippin’ into darkness under Biden. An example is ISM Manufacturing PMI which has declined to a level typically seen in prior recessions. And then we have US bank credit growth which just crashed to the slowest growth rate since 2014. The Fed is returning to rate low-riding as the US economy slips into recession,

In case you hadn’t noticed, President Joe Biden has been making a number of appearances lately at manufacturing plants. These trips included a microchip plant in North Carolina and a “green energy” plant in Minnesota. He’s been attempting to show voters how his policies are driving an economic comeback in the manufacturing sector, particularly for projects to save the climate or whatever. But as usual, the real story of American manufacturing is quite different than the one that the White House is trying to sell. As was reported in the Free Beacon on Monday, analysts are keeping a close eye...

Devil’s Tower? ISM New Orders Slump To 45.2 In December As ISM Prices Paid Slumps To 39.4 (Stimulus Is Already Gone, Recession In Sight) confoundedinterest17 #bubble, #inflation, #wine, @MetreSteven @JeffSnider_AIP @DiMartinoBooth @bondstrategist @RaoulGMI @LukeGromen @dlacalle_IA @EconguyRosie @profplum99 @SantiagoAuFund @biancoresearch @pboockvar @SriKGlobal, Banking, CMBS, CRE, ECB, Economy, Fed, GDP, Gold, Housing, Inflation, Jobs, Mortgage, Natural Gas, Oil, Powell, Silver, Treasuries, Treasury, Uncategorized, Wages, Yellen, Yield Curve January 4, 2023 1 Minute To paraphrase The Eagles, US monetary stimulus is already gone. And with it, ISM Manufacturing Report for December is showing weakness. New orders (orange line) is down to 45.2 (below...

The numbers coming out today are not good. November numbers were 1) US Industrial Production was down -0.2% MoM, 2) manufacturing production is down -0.6%, 3) retail sales advanced down -0.6% (most in 11 months) and … The Empire State Manufacturing outlook was down -11.2% and the Philadelphia Fed (or Phed) business outlook was down -13.8% in November. And with all this bad news, global equity markets are dropping like a paralyzed falcon. But at least Biden traded a dangerous international arms dealer for WBNA star Brittney Griner. Possilby the worst trade in history after the Chicago Cubs traded future...

There’s a headline.Manufacturing orders from China down 40% in unrelenting demand collapseShipping companies are already reacting with “blank” (canceled) sailings and reallocating cargo shipments (“vessel utilization”) to make sure they have full boats before they pull out of port. All this is raising hell with the logistic delivery schedules people waiting on the other side of the pond depend on. …Carriers have been executing on an active capacity management strategy by announcing more blank sailings and suspending services to balance supply with demand. “The unrelenting decline in container freight rates from Asia, caused by a collapse in demand, is compelling...

What is this midterm election really about? Watch as Mark literally tears through the radical left’s agenda and why their policies and ideologies are tearing the country apart.

For the sake of America’s peace, prosperity, and security, we must refocus and revive our domestic manufacturing industry.A new report confirms former President Bill Clinton was delusional about the long-term effects of trade with China on American workers and the U.S. economy. In 2000, then-President Clinton deployed much of his political capital to help China become a member of the World Trade Organization (WTO). Clinton promised the American public that economic engagement would be a “win-win” for both the U.S. and China because free trade would “move China faster and further in the right direction.” Later that year, Clinton signed...

Not seeing any 'real news' on this yet: Jordan Schneider @jordanschnyc Every American executive and engineer working in China’s semiconductor manufacturing industry resigned yesterday, paralyzing Chinese manufacturing overnight. One round of sanctions from Biden did more damage than all four years of performative sanctioning under Trump. Although American semiconductor exporters had to apply for licenses during the Trump years, licenses were approved within a month. With the new Biden sanctions, all American suppliers of IP blocks, components, and services departed overnight —— thus cutting off all service [to China]. Jordan Schneider @jordanschnyc · 13h THREAD: The US government's new export...

During portions of interviews with Fox News Digital released on Saturday, manufacturing workers in Pennsylvania sounded off on President Joe Biden’s student loan debt cancellation program. Jim Davis said, “It’s not going to affect the people that are here, the people that are actually out doing all the work. So, yeah, he’s going to help the people in the bigger cities because that’s what he wants. But as far as me, it’s not going to help me.”

German producers are halting manufacturing in response to the surge in power costs brought on by Russia’s squeeze on gasoline provides, a development the federal government has described as “alarming”.Robert Habeck, financial system minister, mentioned business had labored laborious to scale back its gasoline consumption in current months, partly by switching to various fuels like oil, making its processes extra environment friendly and decreasing output.“It’s not good news,” he mentioned, “because it can mean that the industries in question aren’t just being restructured but are experiencing a rupture"Habeck mentioned rising gasoline costs have been affecting everybody from large industrial firms...

The FCC may have just advanced the industrialization of space. Commissioners have voted in favor of an inquiry that will explore in-space servicing, assembly and manufacturing (ISAM). The move would both help officials understand the demands and risks of current in-space production technology while facilitating new projects. This could help companies build satellites and stations in orbit, for instance, while finding new ways to deal with growing volumes of space debris. The vote helps open a new "Space Innovation" docket at the FCC. It also comes two days after the regulator updated its rules to create more breathing room for...

Wary of mounting tensions surrounding out-of-favor countries like China and Russia, multinational corporations are shifting operations to places that present less geopolitical risk. The trend has been labelled "friendshoring." While that's a play on "offshoring," this isn't about companies moving operations back to the United States or Europe, but rather seeking foreign alternatives that retain the benefit of low labor costs but with less international controversy. For now, the conversation is principally about China. “Every company that I speak to at the moment is engaged in rethinking their [China-focused] supply chains," Tony Danker, head of the Confederation of British Industry,...

New Orders and Employment Contracting Production and Backlogs Growing Supplier Deliveries Slowing at a Slower Rate Raw Materials Inventories Growing; Customers’ Inventories Too Low Prices Increasing at a Slower Rate; Exports and Imports Growing Record-Long Lead Times for Production Materials and MRO Supplies Tempe, Arizona) — Economic activity in the manufacturing sector grew in July, with the overall economy achieving a 26th consecutive month of growth, say the nation's supply executives in the latest Manufacturing ISM® Report On Business®. The report was issued today by Timothy R. Fiore, CPSM, C.P.M., Chair of the Institute for Supply Management® (ISM®) Manufacturing Business...

Taiwan controls most of the world's chip manufacturing capacity, and that worries US Commerce Secretary Gina Raimondo. Raimondo believes the US would go into a "deep and immediate recession" and face great security risks if it lost access to the island nation's chips The Commerce Secretary made the warning in a Wednesday interview with CNBC as part of her plea for Congress to aid a major US semiconductor manufacturing expansion by passing the Creating Helpful Incentives to Produce Semiconductors (CHIPS) Act, which would unlock $52 billion in subsidies for new plants and research efforts. "If you allow yourself to think...

“The rest of the world is moving rapidly despite the inability of Congress to get this finished,” said Gelsinger on a panel at the Aspen Ideas Festival. Congress passed the CHIPS Act as part of the National Defense Authorization Act in 2021 but never appropriated a budget for its programs. The money for subsidies is currently stuck in negotiations as the House and Senate attempt to reconcile differences on a broader package of policies to help the U.S. tech industry compete with China. Last week, Intel said it would delay the groundbreaking ceremony of a new $20 billion facility in...