US Factory Orders Higher Than Expected (The Bush Recovery)

WALL STREET JOURNAL ^ | August 4, 2003 | WALL STREET JOURNAL

[Pubbie]

Daschle is on Suicide Watch right now...

[Constitution Day]

The Axis of Eeyore is disappointed!

[ex-snook]

"Defense capital-goods orders jumped 16.7% . Without defense orders, factory orders rose 1.5% for the month"

But is war spending driving the economy, or is the economy driving the war?

[Pubbie]

"Without defense orders, factory orders rose 1.5% for the month"

The overall increase was 1.7% growth. So Defense only made up 1.5% of the total.

Also, an increase in defense orders was taken into account for the original estimate.

[Asclepius]

But "the market is still very skeptical of the capital-spending turnaround," said Cary Leahey, economist with Deutsche Bank. "We haven't seen a senior executive say, 'I feel so good about the economy I'm going to go out and be willing to hire,'" Mr. Leahey said.

I rarely "see" anyone say anything, ever. Usually I hear people say things. Usually I hear senior executives say things like, do you want fries with that? Or, do you want room for cream? That sort of thing.

[Fee]

Employment will rise very slowly this time. Companies were surviving the dot.com bust, 9/11 slowdown and etc by outsourcing to overseas labor and use more H-1B/L-1 VISA workers to keep their overhead costs down. We will need a large expansion before our job market improves. We are living in a new economical paradigm for US employment.

[Pubbie]

1.5% of the total = 0.2% of the total.

[Pubbie]

"We are living in a new economical paradigm for US employment."

I will get FLAMED for saying this, but I don't buy the argument that Outsourcing is taking away jobs in the Tech Sector.

The blame on outsourcing is just a scapegoat.

The REAL reason Tech employment has dropped is because there was an enormous tech bubble that employed FAR more workers in the tech Sector than was necesary.

What we're seeing now in terms of Tech Employment is a return to more normal levels after a massive bubble - it has very little to do with outsourcing.

[samuel_adams_us]

Dear President Bush and members of the 108th congress of the United States of America:

We the people of India would like thank you for your representation within your government without any taxation. We appreciate the free education granted to us via the tax dollars of the citizens of the United States and we also appreciate the business you provide us via those same tax dollars. We are so happy that you are willing to represent us, the people of India, without taxation all the while discontinuing your representation of the citizens of the United States, while taxing them and giving us their tax dollars. As much help as you have given us, exporting all of your jobs here, giving us billions in aid, making sure your citizens give up their jobs for us, free education, we almost think that your families are from India. As far as your displaced citizens, we know that this is simply Karma and just as we do nothing for those in our country lying in a gutter, we would never interfere with your citizens' Karma, whom we have displaced with their own tax dollars, that we would like to start a relief fund and help provide for their unemployment benefits as you continue to provide for us and ignore your own citizens. Soon I am sure it will be the United States of India as we are all proud here to have you on board. Mr. President, we are so happy you are just like your father, ignoring your own citizens and giving the rest of the world all of your money. We in kind will continue to ship mangoes to the United States to help feed the unemployed until the eventual collapse of your country.
Sincerely,


Mahatma Gupta.

[joesnuffy]

Yep...LOL

[Pubbie]

See Post #8

[hchutch]

Your explanation is much more logical than the whining I am hearing from the folks complaining about outsourcing.

[Paradox]

What we're seeing now in terms of Tech Employment is a return to more normal levels after a massive bubble - it has very little to do with outsourcing.

Hush your mouth there boy, you dont want to upset the Zero-Sum brigade. :)

[LouD]

pinging right back at ya!

[Pubbie]

The Economic PaleoConservatives want our industries to be overly protected from free trade so that our businesses can be fat, lazy, and inefficient like Businesses are in Europe.

I disagree with the Economic Paleos strongly over their Free trade, and outsourcing arguments (Although I agree 100% with their arguments about how Illegal Immigration is a Disaster for the US)

[Choose Ye This Day]

I will get FLAMED for saying this, but I don't buy the argument that Outsourcing is taking away jobs in the Tech Sector.

No flame here. I agree. Tech was WAY too pie-in-the-sky overly optimistic during the heady days of the late '90s, when every dot.com would grow to the sky, and firms foolishly thought that the law of gravity had been repealed.

It's the natural (albeit painful) cycle of adjustment that hits every industry. Besides, if 1 in 10 jobs is going overseas, then 9 in 10 are staying here.

[harpseal]

Among thos factory orders for durable goods are orders for US companies producing those goods offshore.

On or off this ping list let me know.

[harpseal]

Lets see now another one in ten jobs in the tech sector going away your belief that it is just the explosion of the tech bubble is nice to see it just shows that ignorance of the realities in the wortld of IT does not deprive someone of an opinion.

[harpseal]

Your explanation is much more logical than the whining I am hearing from the folks complaining about outsourcing.

Only if on ereligously beives in the Globalist philosophy/religion and one ignores the realities of what has happened over teh past two years. the one in ten number iis of those jobs remaining in the IT sector of the economy and it will not end in 18 months either.

[harpseal]

Now can you or anyone tell me how many of these new factory orders from US companies will be produced in US factories? It is not in the stats and the stats are orders from US companies it says nothing about US factories.