Posted on 01/02/2009 1:39:46 PM PST by shielagolden
Manufacturing slows to lowest level since 1948, the ISM Survey showed
By
(AXcess News) Houston - The Institute of Supply Management (ISM) December Survey revealed that the manufacturing sector continued to show no sign of growth for the fifth consecutive month while the overall U.S. economy shrank for the third month in a row.
ISM chairman of the Committee Survey Norbert J. Ore said manufacturers across the entire spectrum of companies saw a "significant decline" in activity during the month of December.
"The decline covers the full breadth of manufacturing industries, as none of the industries in the sector report growth at this time," said Ore.
The ISM noted that the Performance by Industry index (PMI) shrank 3.8% in December over the prior month to 32.4 from 36.2 in November.
New manufacturing orders shrank 5.2% in December with the ISM Survey's index of New Orders at 22.7 compared to 27.9 the previous month.
The ISM said production fell 6% in December to an Index reading of 25.5 from 31.5 the prior month.
The Survey indicated that employment was also down. The Employment Index in December was 29.9 compared to 34.2 the prior month, a decline of 4.3%.
Manufacturers inventory levels shrank 0.3% to 38.8 in December compared to 39.1 the prior month, though customer inventories rose 2% to an index reading of 57 in December compared to a reading of 55 the prior month, indicating that goods were piling up and that new orders in January would likely continue to decline.
Overall, the ISM indicated that the U.S. economy was continuing to slow. The ISM said that New Orders shrank for the 13th consecutive month to their lowest level on record since January 1948. Order backlogs have fallen to the lowest level since ISM began tracking the Backlog of Orders Index in January 1993.
"Manufacturers are reducing inventories and shutting down capacity to offset the slower rate of activity," Ore indicated.
This government is just plain evil. They take 40-50% of people’s income and their families have to do without. Give you an example, when you buy a loaf of bread at the store, it’s been taxed over a hundred times. Then the social security comes out of my check which is 8%. My company pays the other 8%. If the government would have let me kept my money, I could have invested it at 4-5% a year, I would have over a million dollars. What does the government do with all that money that people don’t collect? Like my sister, that worked all of her life and never collected one social security check. She died at 55 with no children.
I agree and people would be better off investing their own money rather than forced “social security”. SPekaing of that Demoncrats would LOVE to have you dump your 401K’s and anything else n their lap so they have more money to MISHANDLE and give you a raw deal and of course keep you DOWN.
Questioning citizenship is not ad hominem. It is in fact a logical question since you appear not to understand the true cost of “free trade” that Americans have been forced to bear.
Wealth redistribution is the basis of “free trade”. Karl Marx understood it, the WTO and other “free trade” groups enact it.
The double whammy is that the government uses our taxes to fund transnational corporate expansion, then uses the rest of our taxes for ‘workforce training’ and ‘workforce support’ for once working, taxpaying, productive citizens they put out of a job. The offshoring and outsourcing of our domestic economy is wealth redistribution, negotiated at the Uruguay and Doha rounds as well as among the G8 and G30 groups with American citizens unable to control our own government officials who attend these unconstitutional governmental frameworks.
Americans understand this. There are foreign nationals who post on this board supporting “free trade” because their countries benefit. It is a logical supposition when a fundamental fact we citizens all know is not understood by a poster.
You are astute to say “I for one do not wish my government to inflate the money supply to fleece Chinese slaves.” But what does that have to do with free trade? Our government is defrauding the Chinese but that because our government (hence me and you) is immoral.
You never answered my questions. Do you want the government deciding from whom you purchase goods?
We fought a revolution that started in part over an import tax. What is your current commitment to overturning free trade? Do you buy all domestically manufactured products?
But, Ohio is a net exporting state. Manufacturing is alive and well in Ohio. However it is not the the type that uneducated and unskilled people can work at. The high-paying-sit-on-your-butt-all-day-and-do-nothing job is gone. The Chicoms took all those jobs because they have more uneducated and unskilled workers than we do. What we do have are jobs for educated and skilled workers.
If all of you anti-free trade advocates want to compete for the bottom of the barrel manufacturing jobs that bring little value because it requires no skill or education..have at it. Just don't require me to pay $10 for a pair of socks.
I owned a manufacturing company in Ohio. I had workers vastly overpaid at minimum wage and I had some I could barely keep at $25/hr.
You tell me. How much should an illiterate pot smoking unexperienced unskilled 18 year old make? Does he have an American birthright to make more than his Chinese counterpart? Should I be forced to buy the goods he produces?
My company created 8 good paying jobs when we purchased a cheap Chinese made machine tool to use in our tool making shop. We could not afford the union made American made one at 4x times the cost. My workers threatened to quit if we bought the machine but relented when they saw we added jobs because of it. Do you seek to destroy that type of flexibility and creativity? I have lived it and I have seen, experienced, and heard the stories of US manufacturing. Some of you know what I am talking about. The feather bedding, the stealing, the laziness, the union workers he could not be fired no matter what they did. Free trade is the onlything that keeps that type of behavior in check.
Standard of living? You looked around lately?
Countless have and are losing their jobs, homes, retirements, saving, investments..
You can't send hundreds of thousands of our jobs and industries overseas to China and India, and then allow into the U.S. tens of millions of low wage illegal workers.
This is national suicide.
The Chicoms took all those jobs because they have more uneducated and unskilled workers than we do. What we do have are jobs for educated and skilled workers.
lol...Then why in hell do people like Bush continue to wave through tens of millions of uneducated, illegal workers? Are all these illegal aliens senior scientist and engineers?
If all of you anti-free trade advocates want to compete for the bottom of the barrel manufacturing jobs that bring little value because it requires no skill or education..have at it. Just don't require me to pay $10 for a pair of socks.
Yes, I am anti free trade bullsh*t, you on the other hand are a Communist Chinese apologist.
I owned a manufacturing company in Ohio. I had workers vastly overpaid at minimum wage and I had some I could barely keep at $25/hr.
You had? You owned? You think 25 bucks an hour is good money in today's America? A decent machinist should be making 2 or 3 times that amount. Where you been?
You tell me. How much should an illiterate pot smoking unexperienced unskilled 18 year old make?
You mean inexperienced?
You babble on about how stupid and lazy Ohio workers are, yet you have difficulty spelling simple words. LOL!
Does he have an American birthright to make more than his Chinese counterpart? Should I be forced to buy the goods he produces?
No, you should stick to purchasing Communist Chinese goods. Better yet, fire all of those allegedly working for you, and find yourself some Communist Chinese that will work for 1980s wages.
My company created 8 good paying jobs when we purchased a cheap Chinese made machine tool to use in our tool making shop.
lol...You should move to Red China.
My workers threatened to quit if we bought the machine but relented when they saw we added jobs because of it.
Hmmm..Why would they quit? Because of where a machine came from? What kind of BS is this? Your workers were happy because *you* hired others? lol...
Do you seek to destroy that type of flexibility and creativity? I have lived it and I have seen, experienced, and heard the stories of US manufacturing. The feather bedding, the stealing, the laziness, the union workers he could not be fired no matter what they did. Free trade is the only thing that keeps that type of behavior in check.
You need to move to Communist China and get some of that hard working low wage Communist, peasant labor. You'll love it there.
Oh, and Ohio's economy is in a ditch. You're not kidding anyone with all this BS.
If you will consolte a dictionary you will find my usage of “unexperienced” to be acceptable. I think my writing is clear enough for you to answer my question, how much should this unexperienced worker make?
So a machinist should make 3 times $25/hour? That would be about $156,000 per year. And that get’s us “decent”?
we how have taxation without representation
http://video.google.com/videoplay?docid=1590858026591557284
Yes it sure is! Isn’t it?
Let us pose a riddle:
Economies of scale is an economic theory that states that you can take advantage increased size to have increased efficencies. Instead of 10 or 15 car manufactures, have only three. Cut your management, reduce the costs of competing product lines, higher profit margins through bigger purchase discounts and more sales via lower consumer prices. A win win for all. The consumer has more money left in his pocket to be able to buy other goods, thus employing those whom were cut from the now defunct automakers.
So, this begs, in theory, the question that if we are all humans, and we live in a truely global economy, why is it that a chinaman that makes your playstation three gets to make 10x less than you or I make and is willing to work more hours to make it?
His country has instituted less regulation (less lawsuits in China than in the USA, no EPA, no chance that OSHA comes in to do an audit, ect), lower taxes (incentives for companies to operate in certain districts that have been paid for by the trade imbalance that WE are financing), ect.
So, yes, while jobs have left here, why is it that they have left here? More regulation? Cheap money? More taxes, ect?
I agree whole heartedly with all you chaps. We’ve done this to ourselves and it pisses me off just as much as the rest of you, believe me. I’d before to a fair and level playing field, but then again, in Capitalism, nothing is completely fair, and that’s what we’re finding out, nature sorts out those who use snake oil, and those who stick to the unwritten rules.
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