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US manufacturing shrinks for first time in 2 years
AP via Bismarck Tribune Online ^ | July 2, 2012 | Christopher Rugaber

Posted on 07/02/2012 7:13:53 AM PDT by John W

WASHINGTON (AP) -- U.S. manufacturing shrank in June for the first time in nearly two years, a troubling sign that the economy is faltering.

The Institute for Supply Management, a trade group of purchasing managers, says its index of manufacturing activity fell to 49.7. That's down from 53.5 in May and the lowest reading since July 2009. Readings below 50 indicate contraction.

Stocks fell immediately after the report was released.

(Excerpt) Read more at customwire.ap.org ...


TOPICS: Breaking News; Business/Economy; News/Current Events
KEYWORDS: 2012; economy; manufacturing; obama; obamanomics; recovery; unemployment

1 posted on 07/02/2012 7:13:57 AM PDT by John W
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To: John W

I guess this unexpected.


2 posted on 07/02/2012 7:14:56 AM PDT by Perdogg
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To: John W

BRING BACK American manufacturing.

Now.


3 posted on 07/02/2012 7:15:13 AM PDT by Cringing Negativism Network (America doesn't need any new laws. America needs freedom!)
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To: John W

I think Obowma just needs to fund raise more. Thats the obvious solution.


4 posted on 07/02/2012 7:18:02 AM PDT by vpintheak (Occupy your Brain!)
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To: Cringing Negativism Network

Yea it was only supposed to go down to 50.9


5 posted on 07/02/2012 7:18:02 AM PDT by Hojczyk
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To: Hojczyk

I think business has it figured out....if we do not hire any people...spend as little as possible..Maybe we can get rid of OBAMA...good for them....I hope gas it at 6.00 on election day...


6 posted on 07/02/2012 7:20:39 AM PDT by Hojczyk
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To: vpintheak

I think Obowma just needs to fund raise more. Thats the obvious solution.


Or do some more golfing. Expect the media talking heads to proclaim what great economic news this is.


7 posted on 07/02/2012 7:22:23 AM PDT by chessplayer
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To: Perdogg

Not unexpected to me. We’re in the “double-dip” recession and I knew it about a month ago. The economists will officially declare it in late August or early September. That’s the bad news. The good news is that it’s death for 0bama’s re-election.


8 posted on 07/02/2012 7:30:34 AM PDT by henkster (Why should I care? Why should I care?)
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To: John W
Obama will see this as the massive regulations, laws, taxes and verbal attacks on capitalism and industries have not been enough. They will have to increase them more.
9 posted on 07/02/2012 7:30:44 AM PDT by Proud2BeRight
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To: Cringing Negativism Network

yes.

elim the income tax code [no cap gains tax, dividends tax, income or payroll tax among others], no business tax, and no withholding.

consumption tax only.


10 posted on 07/02/2012 7:35:27 AM PDT by Principled (It's not enthusiasm for Romney, it's grim determination to remove Hussein)
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To: John W

Truck freight bookings are down since May. NOT a good sign.


11 posted on 07/02/2012 7:37:35 AM PDT by rockinqsranch (Dems, Libs, Socialists, call 'em what you will, they ALL have fairies livin' in their trees.)
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To: John W

Na na na na....
Na na na na....
Hey Bar-ry....
Good-bye!


12 posted on 07/02/2012 7:38:59 AM PDT by Buckeye McFrog
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To: henkster

The economists will officially declare it in late August or early September.


Won’t matter what they declare because the media will ignore it.


13 posted on 07/02/2012 7:42:17 AM PDT by chessplayer
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To: John W

So, at what point will ANY mainstream media outlet begin talking about this administration vis a vis the economy as they would were ANY other human being president?


14 posted on 07/02/2012 7:43:21 AM PDT by John W (Viva Cristo Rey!)
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To: John W
Economic activity? Obama is worse than Hoover.
Criminal activity? Obama is worse than Nixon.
Foreign policy? Obama is worse than Carter.
15 posted on 07/02/2012 7:46:40 AM PDT by ClearCase_guy (Choosing between Roger Taney and John Roberts would be difficult.)
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To: ClearCase_guy

Obama will be worse than Obama if he somehow weasels his way into another teem as Prezbo.


16 posted on 07/02/2012 8:06:55 AM PDT by Leep (Enemy of the StatistI)
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To: John W
a troubling sign that the economy is faltering.

Faltering? It's postured for the long drop off the Golden Gate. Elect this ****er in November and it'll be a swan dive with ODrama applauding the whole trip down.

Ah, and a house around the corner from mine has a great sign out front: "You are now owned by the Government. You have lost your freedom because you didn't bother to learn History." I haven't met the owner yet, but I think I'd like him.

17 posted on 07/02/2012 8:16:54 AM PDT by theDentist (FYBO/FUBO; qwerty ergo typo : i type, therefore i misspelll)
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To: John W; P-Marlowe

Of course manufacturing shrinks. It’s all in China at 80cents an hour on a 12 hour day for the “free” people of south China and at slave prices in the prison camps with up to 2 million people.

That, by the way, is not FREE MARKET COMPETITION! Just like with John Roberts, there’s no way to put lipstick on that pig.


18 posted on 07/02/2012 8:26:09 AM PDT by xzins (Retired Army Chaplain and Proud of It! Those who truly support our troops pray for their victory!)
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To: xzins
It’s all in China at 80cents an hour on a 12 hour day for the “free” people of south China...

All your manufacturing jobs are belong to us Chinese.

The US will stay mired in recession until they return.

19 posted on 07/02/2012 8:33:40 AM PDT by Last Dakotan
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To: John W
So, at what point will ANY mainstream media outlet begin talking about this administration vis a vis the economy as they would were ANY other human being president?

Never.

20 posted on 07/02/2012 8:35:50 AM PDT by Scott from the Left Coast
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To: Last Dakotan

Right now all those slaves are making happy little twidgets. One day they will be making bombs, missiles and aircraft to destroy America. Mark my words. That is the plan.


21 posted on 07/02/2012 8:39:21 AM PDT by central_va ( I won't be reconstructed and I do not give a damn.)
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To: Last Dakotan; P-Marlowe

Yes. It is the creation of THINGS from nothing or from less expensive THINGS that gives jobs to middle and low wage earners.

It’s a simple fact. And if we’re getting our things built elsewhere, then elsewhere is getting most of the profit, not to mention the spin-off economic activity generated to produce those things.

Are we shipping our corn to China yet for them to ship Corn flakes back to us? That will be the sign to astute observers that we have lost the economic war.


22 posted on 07/02/2012 8:42:50 AM PDT by xzins (Retired Army Chaplain and Proud of It! Those who truly support our troops pray for their victory!)
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To: John W
This is the New World Order.

Lower standard of living in the USSA, raise it in third world countries. It's only fair ya know/s

23 posted on 07/02/2012 8:48:46 AM PDT by MrPiper
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To: xzins
Are we shipping our corn to China yet for them to ship Corn flakes back to us? That will be the sign to astute observers that we have lost the economic war.

Ah, but think of all the shipping jobs that will be created.

24 posted on 07/02/2012 8:51:19 AM PDT by P-Marlowe
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To: P-Marlowe

On Chinese Junks. :>)


25 posted on 07/02/2012 8:53:52 AM PDT by xzins (Retired Army Chaplain and Proud of It! Those who truly support our troops pray for their victory!)
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To: MrPiper
Tariffs would fix this IF big Gov would get out of the way.

can you imagine the economic boom if congress said: All new businesses do not have to file ANY federal/state tax forms from date of incorpation for 4 yrs.

26 posted on 07/02/2012 8:54:45 AM PDT by MrPiper
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To: John W

In the late 80’s early 90’s we wanted to be more like Japan....

Well, now we are...


27 posted on 07/02/2012 8:56:31 AM PDT by GraceG
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To: P-Marlowe; xzins
shipping our corn to China yet for them to ship Corn flakes back to us

You're unAmerican hippies if you want Americans to pay higher prices to make our own food instead of letting nice Communists in China do it. Same for military gear. Why do you want Americans to pay more for American goods when the Chinese can make it cheaper?

There is no national security threat to outsourcing every last bit of our industry to a Communist nation that needs the money to build up their military offensive capability.

28 posted on 07/02/2012 8:57:55 AM PDT by Sirius Lee (Goode over evil. Voting for mitt or obie is like throwing your country away.)
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To: Sirius Lee; P-Marlowe
There is no national security threat to outsourcing every last bit of our industry to a Communist nation that needs the money to build up their military offensive capability.

And it simply isn't fair to have America pilots and troops be the only ones hired to fly and fight.

There is absolutely no reason we shouldn't outsource some of those jobs, too.

If we could get an Army division with soldiers at 60cents an hour, then why are we paying all those college bonuses and military health plans? Not only is it not fair, but it isn't cost-effective either!

29 posted on 07/02/2012 9:03:26 AM PDT by xzins (Retired Army Chaplain and Proud of It! Those who truly support our troops pray for their victory!)
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To: GraceG
Well, now we are...

We have a trade surplus in manufactured goods?

30 posted on 07/02/2012 9:09:13 AM PDT by Last Dakotan
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To: John W

Two Years? The article says three years?


31 posted on 07/02/2012 9:19:58 AM PDT by Retired Chemist
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To: xzins
...not to mention the spin-off economic activity generated to produce those things.

That's why China and the rest of the Asian merchantilists are willing to subsidize the manufacture and export of the end product.

Take for instance the McDonald's Happy Meal toy.
Sure the low wages are in decorating and assembling the toys, but with those jobs come the injection mold designers and builders, the plastic compounding and sales and also the machine tool design and construction etc, etc.

32 posted on 07/02/2012 9:19:58 AM PDT by Last Dakotan
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To: John W
Oh my goodness, the AP is faltering, ignoring their own style rules.

Here, let me help them:

"U.S. manufacturing unexpectedly shrank in June for the first time in nearly two years, a troubling sign that the economy is faltering.

Much better!

It also appears they have forgotten to count. IMHO, July, 2009 to July, 2012 is three years, not two.

33 posted on 07/02/2012 9:26:44 AM PDT by upchuck (FACEBOOK... Share pointless stuff with friends you don't know. Beg for intrusion into your life.)
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To: Last Dakotan

Well, now we are...
We have a trade surplus in manufactured goods?

Manufacturing decline that is, I wish a surplus in goods...


34 posted on 07/02/2012 9:27:16 AM PDT by GraceG
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To: All

FWIW, I just went back to the original article and it now says three years. AP must have dusted off their abacus to double check :)


35 posted on 07/02/2012 9:36:44 AM PDT by upchuck (FACEBOOK... Share pointless stuff with friends you don't know. Beg for intrusion into your life.)
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To: John W
The democrats have taxed us and regulated us into oblivion.
Why produce goods when no one can afford to buy them? It only makes sense to close the doors.
36 posted on 07/02/2012 9:37:54 AM PDT by concerned about politics ("Get thee behind me, Liberal")
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To: Cringing Negativism Network

Good luck with that, what with two Harvard twinks running for POTUS. They’re both thoroughly in love with the “free trade” crowd...


37 posted on 07/02/2012 11:15:11 AM PDT by NVDave
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To: Buckeye McFrog

Blame Bush.


38 posted on 07/02/2012 1:25:03 PM PDT by USAF80
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To: Last Dakotan
and that's just one lunchroom shift... 3 30min lunch shifts between 11:30 and 1:00 aren't uncommon
39 posted on 07/02/2012 3:20:12 PM PDT by Chode (American Hedonist - *DTOM* -ww- NO Pity for the LAZY)
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To: central_va

I completely agree.

That is why I have gone 100% against Chinese manufacturing.

We need to bring back US arms.

Now.


40 posted on 07/02/2012 5:47:37 PM PDT by Cringing Negativism Network (America doesn't need any new laws. America needs freedom!)
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To: John W

I didn’t know there was a psychiatrist shortage.


41 posted on 07/03/2012 2:42:55 AM PDT by Happy Rain ("With one appallingly stupid ruling SCCJ Roberts converted tax lawyers into defense attorneys.")
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