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To: Paul Ross

>> ...and only 11,000 are in manufacturing.

This unfortunately doesn't even begin to keep up with the cuts, from GM (30,000) and Ford (30,000) and Northrup-Grumman (2,300)... <<

Roberts displays his ignorance. Don't join him.

Please correct me if necessary, but the ACTUAL job gains in manufacturing occurred in November, right? Those already took place.

In contrast, the GM, Ford, Northrup situations are ANNOUNCED cuts that have yet to happen and MIGHT occur over a period of months of even years. right?

It doesn't matter how lengthy is the economics background of Roberts. He has an anti-America agenda and has been a Chicken Little about the U.S. economy for at least four or five years.

Roberts has been predicting a collapse of the U.S. economy since 2001 and has been wrong at every turn. Roberts is a Bush-hating, Bush-bashing John LeBoutillier of economics -- and wrong just as often, which is almost all the time.

Even worse, he committed a classic error, accidentally or on purpose: Roberts mixed apples and oranges. He tried to compare job gains that have already happened to job losses that are announced and will not occur all in one month.

Plus, the job cuts announced by the three companies, while they are manufacturing companies, will probably not 100 percent consist of manufacturing jobs. There will probably be a number of office jobs involved as well. So there is another flaw in attempting to compare the two events.

Roberts is misguided. He doesn't need lemmings to plunge off the cliff with him.

-George


48 posted on 12/07/2005 2:23:25 PM PST by Calif Conservative (RWR and GWB backer)
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To: Calif Conservative

The manufacturing cuts will occur. My husband works for GM. GM is building a factory in India and expanding the one in China. Ford will lay off American workers soon. Who knows where they will manufacture...it won't be in the US.


68 posted on 12/08/2005 9:59:07 AM PST by nyconse
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To: Calif Conservative

"Roberts has been predicting a collapse of the U.S. economy since 2001 and has been wrong at every turn. Roberts is a Bush-hating, Bush-bashing John LeBoutillier of economics -- and wrong just as often, which is almost all the time."

Could it be that the trends which concern Roberts (and should concern all Americans) have been going on since 2001 and (so far) have not unfavorably impacted our economy?

I recall the more experienced stock market watchers in the late 90s warning that "trees don't grow to the sky" and that the astronomical P/E ratios that we were seeing were warning signals. The NASDAQ experienced 3 consecutive years of 20+% growth. The less experienced stock market participants countered that this was the "new economy", rather than the "old economy" and that these companies were growing so fast that they would grow into their P/Es. Many of these people had never experienced anything other than a bull market.

Then came March of 2000. Over the ensuing 13 months, the NASDAQ went from well over 5,000 to under 1,500. Hundreds of billion of dollars in market capitalization were wiped out, setting our economy back well before 9-11 added to it.

Were the older market watchers "wrong" in late 99 and the first couple of months of 2000? Does the fact that a major correction to an adverse trend has not occurred YET mean there is nothing to concern ourselves with and we can simply allow that trend to continue with no corrective action?

How much longer can we allow our trade deficit to grow out of control? Will our economy hold together until we reach a $1 trillion/yr annual trade deficit? BTW at current trends, that will happen within the next 5 years or so. What are the implications if money managers around the globe lose confidence in the USD as the most safe and stable currency in the world and start shifting their enormous cash reserves out of them? BTW, this is already happeneing to a small extent. Let's hope that it does not grow any more.

One last question, and it reiterates the one advanced by Roberts at the end of the article: What happens to our economy when the real estate market slows down (as it inevitably must).

To those who consider these questions Bush-bashing, get a grip. I voted for Bush twice and, given the same choices I had in 00 and 04, would do the same again. However, I am not so loyal to Bush that I can ignore what I feel are very troubling trends. If they aren't troubling, please explain why you disagree.


86 posted on 12/08/2005 12:22:14 PM PST by phil_will1 (My posts are in no way limited or restricted by previously expressed SQL opinions)
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