Free Republic

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...

Economic data continue to point to ongoing growth of the US economy, but financial-market participants have become more doubtful. This was reflected in expressions of concern following the release of the latest US trade deficit figures earlier in April, and especially in the plummeting of stockmarket indices a week ago. Moreover, the latest industrial output and import-price inflation data have prompted the revival of a nearly forgotten term, "stagflation". While the Economist Intelligence Unit is not forecasting a scenario of high inflation and a stagnant economy, the combination of creeping price pressures and slowing growth has already arrived. On the...

For education and discussion only. Not for commercial use. GRAND RAPIDS, Mich. - Steelcase Inc. announced Monday that it will cut 600 jobs over the next two years as it shuts down its remaining manufacturing operations in the city and consolidates work at other plants. The furniture maker said it will vacate the remaining factories at its sprawling Grand Rapids campus. Much of the work from the chair and panel plants will be moved to plants in Kent County's Gaines Township and Kentwood. About 30 jobs will move to Steelcase's plant in Mexico, The Grand Rapids Press reported. One hundred...