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. Inspired by a reader who sent a list of once American corporations who's profits are no longer funneled to the hard-working American employee, I investigated the subject. The clip that landed on my desk was from "America is Selling Out," published in The American Conservative, December, 2005. As I digested, emotionally charged from the publication's Web site at www.economyincrisis.org, I agreed with some of the information, discarded the sensational propaganda and extrapolated my take on the issues' raw facts. From what I've experienced and witnessed first-hand, I consider the current state...

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...

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...

For education and discussion only. Not for commercial use. Oct 7 - A new report found that layoffs reached an eight-month high in September, while new hiring rose only slightly. Employment consulting firm Challenger, Gray & Christmas Inc. said companies announced 107,863 layoffs in September, 45 percent more than in August. The figure was the largest since January, when employers laid off 117,556 workers. Meanwhile, employers hired only 16,166 new workers, compared with 132,105 in August. The computer, transportation, telecommunications and consumer products industries were particularly hard hit by the cuts. "Historically, the period from September 1 through December 31...