Free Republic

For education and discussion only. Not for commercial use. Majority surveyed believe growth will be less than economists predict (Crain's) — A National Assn. of Manufacturers survey of its members found they expect the U.S. economy to grow more slowly this year than what many economists predict. A majority of those surveyed foresee growth in the U.S. gross domestic product of less than 2.9% in 2006, the association said. The NAM's own economist predicts the economy will grow 3.3% this year, said Hank Cox, an association spokesman. Economists' consensus estimates have recently stood at 3.4%. The survey was sent last...

For education and discussion only. Not for commercial use. The Labor Department reported the economy added 108,000 payroll jobs in December. The consensus forecast was 207,000, and my forecast, published by Reuters was 180,000. Unemployment fell to 4.9 percent, mainly because fewer adults chose to participate in the labor force. In the fourth quarter, 438,000 jobs were added, and this is consistent with GDP growth in the range of 3.0 to 3.5 percent Economic growth appears to be moderating from the red hot numbers posted in the third quarter, and if the Fed does not push interest rates too much...

For education and discussion only. Not for commercial use. INDIANAPOLIS - DaimlerChrysler AG will close its Indianapolis foundry and eliminate 881 jobs by Sept. 30, reducing the automaker's once formidable Indiana manufacturing presence to just the city of Kokomo. DaimlerChrysler recently notified the Indiana Department of Workforce Development of the closure under the Worker Adjustment and Retraining Notification, or WARN, Act. The law requires employers to give 60 days notice before certain plant closings and layoffs. The loss of 881 jobs is the largest in Indiana under WARN this year. A provision in the four-year labor agreement struck by the...

Watching the Economy Crumble Paul Craig Roberts Wednesday, Aug. 10, 2005 The United States continues its descent into the Third World, but you would never know it from news reports of the Bureau of Labor Statistics' July payroll jobs release. The media give a bare-bones jobs report that is misleading. The public heard that 207,000 jobs were created in July. If not a reassuring figure, at least it is not a disturbing one. On the surface, things look to be pretty much OK. It is when you look into the composition of these jobs that the concern arises. Of the...

The United States continues its descent into the Third World, but you would never know it from news reports of the Bureau of Labor Statistics' July payroll jobs release. The media give a bare-bones jobs report that is misleading. The public heard that 207,000 jobs were created in July. If not a reassuring figure, at least it is not a disturbing one. On the surface, things look to be pretty much OK. It is when you look into the composition of these jobs that the concern arises. Of the new jobs, 26,000 (about 13 percent) are tax-supported government jobs. That...

For education and discussion only. Not for commercial use. EMPORIA, Kan. - Days after merging with a rival, the owners of a Kansas radiator plant said Monday the factory will close in September and leave 130 people unemployed. The Modine Manufacturing Co. plant opened in Emporia in 1973 to build sheet-metal radiators for Ford Motor Co. On Friday, Modine's aftermarket division merged with Transpro Inc., a Connecticut-based competitor, to form Proliance International Inc. The merger will move production to two existing plants in Mexico, and the Emporia facility will be sold. Two regional plants and branch distribution centers in Denver...

For education and discussion only. Not for commercial use. Proponents of so-called "free" trade agreements like the North American Free Trade Agreement (NAFTA), which I opposed, have long promised endless riches for U.S. workers, farmers, businesses and economy. They've been wrong on all counts. Failed U.S. trade policies have led to the export of millions of high-paying American jobs; decline in U.S. living standards; soaring trade deficits; and a significant erosion of U.S. sovereignty to international trade bureaucrats. Despite this unbroken record of failure, the House is expected to vote before August on an agreement the Bush administration negotiated to...

For education and discussion only. Not for commercial use. As data gathered in the real world of international rivalry continues to show an expanding U.S. trade deficit that will likely hit $700 billion this year (up from $617 billion last year), a great wailing is heard from the Defenders of Free Trade. Their libertarian economic faith is immune to facts, either from present observation or historical experience. That's what makes it a secular religion. Nothing better reveals its reliance on superstition and ignorance than how readily its adherents resort to falsehoods to defend its dogma. Consider two recent columns that...