Posted on 11/17/2005 6:19:20 AM PST by 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.
Worst economy since the Depression!
Tax cuts don't work!
There. I feel better. I'm sure this will be the ABC World News Tonight. Yeah right.
Wait a minute.....
Probably not a good time to short the manufacturing sector.
I think I predicted this too: Katrina drives up new home costs; rebuilding generates a lot of economic activity in the coast; after December, new homes (relatively) cost way too much, so existing home sales SOAR; by late 2006, the people who've sold their homes are looking to buy houses, and the prices of the NEW homes starts to come down, so there is a new burst of new home sales.
As a small manufacturer that serves the construction industry, I am pleasantly shocked at our current order and production levels. Uncharacteristically, October was our best month of 2005 and the remainder of the year looks great too.
I hope the President will take the blame for this one. ;-)
Thank You George W. Bush.
So Bush *does* have a hurricane machine that he intentionally steered so as to create the economic recovery....
"Tax cuts don't work!"
So that's an average drop of .3% over two months. That doesn't really say anything about tax cuts one way or another.
The problem with the tax cuts is that we did not cut spending. If you have a bloated government and cut taxes without cutting spending you just get a bloated government deeper in debt.
Your tired expression of "Bush's fault" is especially bad here.
You imply Bush has something important to do with industrial production. Most members here seem to associate the state of the economy with presidential action. Most voters associate the state of the economy with presidential action. Most news outlets associate the state of the economy with presidential action.
They are all wrong.
The business cycle's weight dwarfs the weight any input by the president has in determining the strength or weakness of the current state of the economy. The global economy, of which Bush has nothing to do with, also dwarfs the weight any input by the president has in determining the strength or weakness of the current state of the economy.
Your use of that stale post remains so, and in addition, just has no relationship at all to this article. Contrary to what you think, Bush does not have a lever in the Oval Office that controls Industrial Production.
We must wait to hear from Alan Tonelson and Paul Craig Roberts about how to handle this devastating news.
And front page NYTimes, Washington Post, And the lead quip by Error America radio host , Al Franken, congratulating the Presidents economic policies.
Oh, whats that dear, wake up? But I was having such a good dream.
I'm for cutting spending, but the tax cuts stimulated the economy and have generated increase tax revenues.
Half the work is done.
What do you do for a living?
It's simply "supply and demand". The supply will meet the demand if government planners and socialists stay out of the way.
"Oct housing starts dove -5.6% to 2.014 mln after Sept was revised higher to 2.134 mln. All the regions showed declines. Permits to build fell -5.6% to 2.071 mln from a 32 year high in Sept. The declines reflect the softening market as levels remain very strong above 2 mln."
REPEAT: levels remain very strong above 2 mil.
See post #12.
Your thanks are misplaced.
You can thank the business cycle, or you can thank the global economy, but thanking President Bush for the state of specific economic indicators is like thanking the bird flu for the Chicago White Sox winning the World Series--there simply is no relationship.
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