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US manufacturing shrinks for first time in 2 years
AP via Bismarck Tribune Online ^ | July 2, 2012 | Christopher Rugaber

Posted on 07/02/2012 7:13:53 AM PDT by John W

WASHINGTON (AP) -- U.S. manufacturing shrank in June for the first time in nearly two years, a troubling sign that the economy is faltering.

The Institute for Supply Management, a trade group of purchasing managers, says its index of manufacturing activity fell to 49.7. That's down from 53.5 in May and the lowest reading since July 2009. Readings below 50 indicate contraction.

Stocks fell immediately after the report was released.

(Excerpt) Read more at customwire.ap.org ...


TOPICS: Breaking News; Business/Economy; News/Current Events
KEYWORDS: 2012; economy; manufacturing; obama; obamanomics; recovery; unemployment
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To: Last Dakotan

Right now all those slaves are making happy little twidgets. One day they will be making bombs, missiles and aircraft to destroy America. Mark my words. That is the plan.


21 posted on 07/02/2012 8:39:21 AM PDT by central_va ( I won't be reconstructed and I do not give a damn.)
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To: Last Dakotan; P-Marlowe

Yes. It is the creation of THINGS from nothing or from less expensive THINGS that gives jobs to middle and low wage earners.

It’s a simple fact. And if we’re getting our things built elsewhere, then elsewhere is getting most of the profit, not to mention the spin-off economic activity generated to produce those things.

Are we shipping our corn to China yet for them to ship Corn flakes back to us? That will be the sign to astute observers that we have lost the economic war.


22 posted on 07/02/2012 8:42:50 AM PDT by xzins (Retired Army Chaplain and Proud of It! Those who truly support our troops pray for their victory!)
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To: John W
This is the New World Order.

Lower standard of living in the USSA, raise it in third world countries. It's only fair ya know/s

23 posted on 07/02/2012 8:48:46 AM PDT by MrPiper
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To: xzins
Are we shipping our corn to China yet for them to ship Corn flakes back to us? That will be the sign to astute observers that we have lost the economic war.

Ah, but think of all the shipping jobs that will be created.

24 posted on 07/02/2012 8:51:19 AM PDT by P-Marlowe
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To: P-Marlowe

On Chinese Junks. :>)


25 posted on 07/02/2012 8:53:52 AM PDT by xzins (Retired Army Chaplain and Proud of It! Those who truly support our troops pray for their victory!)
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To: MrPiper
Tariffs would fix this IF big Gov would get out of the way.

can you imagine the economic boom if congress said: All new businesses do not have to file ANY federal/state tax forms from date of incorpation for 4 yrs.

26 posted on 07/02/2012 8:54:45 AM PDT by MrPiper
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To: John W

In the late 80’s early 90’s we wanted to be more like Japan....

Well, now we are...


27 posted on 07/02/2012 8:56:31 AM PDT by GraceG
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To: P-Marlowe; xzins
shipping our corn to China yet for them to ship Corn flakes back to us

You're unAmerican hippies if you want Americans to pay higher prices to make our own food instead of letting nice Communists in China do it. Same for military gear. Why do you want Americans to pay more for American goods when the Chinese can make it cheaper?

There is no national security threat to outsourcing every last bit of our industry to a Communist nation that needs the money to build up their military offensive capability.

28 posted on 07/02/2012 8:57:55 AM PDT by Sirius Lee (Goode over evil. Voting for mitt or obie is like throwing your country away.)
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To: Sirius Lee; P-Marlowe
There is no national security threat to outsourcing every last bit of our industry to a Communist nation that needs the money to build up their military offensive capability.

And it simply isn't fair to have America pilots and troops be the only ones hired to fly and fight.

There is absolutely no reason we shouldn't outsource some of those jobs, too.

If we could get an Army division with soldiers at 60cents an hour, then why are we paying all those college bonuses and military health plans? Not only is it not fair, but it isn't cost-effective either!

29 posted on 07/02/2012 9:03:26 AM PDT by xzins (Retired Army Chaplain and Proud of It! Those who truly support our troops pray for their victory!)
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To: GraceG
Well, now we are...

We have a trade surplus in manufactured goods?

30 posted on 07/02/2012 9:09:13 AM PDT by Last Dakotan
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To: John W

Two Years? The article says three years?


31 posted on 07/02/2012 9:19:58 AM PDT by Retired Chemist
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To: xzins
...not to mention the spin-off economic activity generated to produce those things.

That's why China and the rest of the Asian merchantilists are willing to subsidize the manufacture and export of the end product.

Take for instance the McDonald's Happy Meal toy.
Sure the low wages are in decorating and assembling the toys, but with those jobs come the injection mold designers and builders, the plastic compounding and sales and also the machine tool design and construction etc, etc.

32 posted on 07/02/2012 9:19:58 AM PDT by Last Dakotan
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To: John W
Oh my goodness, the AP is faltering, ignoring their own style rules.

Here, let me help them:

"U.S. manufacturing unexpectedly shrank in June for the first time in nearly two years, a troubling sign that the economy is faltering.

Much better!

It also appears they have forgotten to count. IMHO, July, 2009 to July, 2012 is three years, not two.

33 posted on 07/02/2012 9:26:44 AM PDT by upchuck (FACEBOOK... Share pointless stuff with friends you don't know. Beg for intrusion into your life.)
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To: Last Dakotan

Well, now we are...
We have a trade surplus in manufactured goods?

Manufacturing decline that is, I wish a surplus in goods...


34 posted on 07/02/2012 9:27:16 AM PDT by GraceG
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To: All

FWIW, I just went back to the original article and it now says three years. AP must have dusted off their abacus to double check :)


35 posted on 07/02/2012 9:36:44 AM PDT by upchuck (FACEBOOK... Share pointless stuff with friends you don't know. Beg for intrusion into your life.)
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To: John W
The democrats have taxed us and regulated us into oblivion.
Why produce goods when no one can afford to buy them? It only makes sense to close the doors.
36 posted on 07/02/2012 9:37:54 AM PDT by concerned about politics ("Get thee behind me, Liberal")
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To: Cringing Negativism Network

Good luck with that, what with two Harvard twinks running for POTUS. They’re both thoroughly in love with the “free trade” crowd...


37 posted on 07/02/2012 11:15:11 AM PDT by NVDave
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To: Buckeye McFrog

Blame Bush.


38 posted on 07/02/2012 1:25:03 PM PDT by USAF80
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To: Last Dakotan
and that's just one lunchroom shift... 3 30min lunch shifts between 11:30 and 1:00 aren't uncommon
39 posted on 07/02/2012 3:20:12 PM PDT by Chode (American Hedonist - *DTOM* -ww- NO Pity for the LAZY)
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To: central_va

I completely agree.

That is why I have gone 100% against Chinese manufacturing.

We need to bring back US arms.

Now.


40 posted on 07/02/2012 5:47:37 PM PDT by Cringing Negativism Network (America doesn't need any new laws. America needs freedom!)
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