FACTORY PRODUCTION REBOUNDS STRONGLY! ("Hoover Economy Alert!")

AP | MARTIN CRUTSINGER

[SoFloFreeper]

WASHINGTON (AP) -- Output at the nation's factories, mines and utilities rose at the fastest pace in 17 months in October, posting a solid rebound from the devastating Gulf Coast hurricanes. The Federal Reserve reported that industrial output was up a healthy 0.9 percent last month as refineries and oil and natural gas platforms began production again after widespread shutdowns caused by hurricanes Katrina and Rita. Last month's increase followed a 1.5 percent plunge in September, which had been the biggest one-month drop in industrial production in more than two decades.

[Toddsterpatriot]

industrial output was up a healthy 0.9 percent last month

WGIDS.

[Toddsterpatriot]

there simply is no relationship

But it's nice to balance out the blame Bush received that he did not deserve. Have you tried decaf?

[raybbr]

Let's see. It dropped in September because of the hurricanes and now it's back up to where it was before the hurricanes. Yep. Something to shout about.

[traderrob6]

Your hubris derived from a superficial knowledge of what drives industrial production is surpassed only by your misunderstanding of how legislation effects the nature of the business environment as a whole.

[Jedi Jake]

Where's Bono?

[raybbr]

By the way, where's the link?

[jimtorr]

Your thanks are misplaced.

Why not thank GW for good news, economic or otherwise? He gets the blame for everything bad that happens in the country.

[SoFloFreeper]

Lighten up francis.

[Dont_Tread_On_Me_888]

Correct.

There has always seemed to be a high percentage of people here with very little formal education in economics.

Nice to see you here. We need more people like you. There are a lot of passionate anti-RATs types here and that is good! But the formal education on economic matters is greatly lacking. On threads that involve economic issues, I hope to see you on them more as this forum needs more people with a background in economics. Also, I take it you are a lawyer (or have a legal interest or background) and that is great also, as you can help with input on legal matters.

Thanks again.

[SoFloFreeper]

I like that line. :)

[A message]

We know that here ,Tread. Of course your statements about industrial output is correct but remember, It's the economy stupid."

That daily dose of Enemedia propaganda delivered during Willy Jeff's Presidency when we all were told that with a click of the finger and an Internet created by Al Gore we could experience prosperity and happiness for all.

And we know what really happened there too.

It is the Dems who believe that the President can wave his magic wand and all your debts and woes will disappear, deary.

I for one though enjoy a little fun and sarcasm and good news.

[traderrob6]

Likely has more to do with interest rate increases than any other singly factor.

[A message]

is=are

[SoFloFreeper]

Don't worry about a link. The info is accurate. My sources are impeccable. You'll get a link when the slow world wide web catches up with me.

[Redleg Duke]

Whine...whine...whine

[LoneRangerMassachusetts]

We still have factories? Are they talking about a rebound of Chinese factories? I'm confused.

[SoFloFreeper]

By the way, here's the link: posted about 24 minutes ago on Forbes.com, much later than my info:

http://www.forbes.com/home/feeds/ap/2005/11/17/ap2343360.html

[TheRobb7]

Lemme try my hand at this:

Tax cuts spur business growth.

Businesses hire more people.

People, newly employed or already employed, have more money to spend...and do spend.

Increased demand for products increases production.

More people employed paying taxes increases tax reciepts.

Increased tax reciepts brings down deficit.

I probably have some of that out of order, but I hope that's the gist of it.

Again, I'm not pro. I make eyeglasses for a living. ;)

[Dont_Tread_On_Me_888]

You have just implied that Bush is a legislator. No, George Bush is the president.

But you bring up an additional item that was inherent in post #12 . . . .

part of the reason why any president has little to do with the state of the current economy is that Congress has more sway over the president's wishes (e.g., Congress backing off its initial ANWR vote just the other day). So, anything that the president does do toward affecting the state of the current economy is in concert with the president, or goes opposite to what the president wanted, or adds onto what the president wanted.

It is all moot anyway since the business cycle and the global economy both have far, far more to do with the current state of the US economy than any president could ever have.

One more point........industrial production is not a leading indicator, Also, industrial production is not a lagging indicator. Industrial production happens to be a coincident indicator. If you can tell us all right now what Bush has done in the VERY recently to change industrial production, have at it. Economists from around the world are waiting for your response.

[groanup]

Yep. And rates are creeping back down at the moment.