[dwswager]

There are 2 major problems facing steel manufacturers. First is a world wide overcapacity on the order of 16%. The second are legacy benefits given to employees in the place of pay. Just like social security and every other ponzi scheme as less and less people are available to pay for more and more beneficiaries, the scheme colapses.

BTW, I'm personally in favor of forgeiners dumping steel, but would prefer they just give it to us for free instead of at a 10% discount. They might as well send us TVs, DVDs, computers and other consumer electronics. In fact, why don't they just trade their stuff for gold and ship us gold bars. What a bunch of dummies they are!

[CIBvet]

I think I'd rather they just sell their stuff to themselves, and let America buy quality made American stuff from ourselves like we used to do 40-50yrs ago, when America was strong and lived under principles such as self-reliance.