US manufacturing survey shows worst reading in a decade

https://www.cnbc.com/2019/10/01/us-manufacturing-economy-contracts-to-worst-level-in-a-decade.html

Trump's trade policy is now actively wrecking one of the only segments of the economy that Trump actively campaigned on improving. The other segment that Trump promised to improve, Coal, is unsurprisingly doing very poorly as well.

And now, Trump - ever the person unwilling to accept blame for his own failures - blamed the federal reserve (and its chief whom he appointed) and the "impeachment nonsense."

 

Can you give us an example of something manufactured in the US of which exports have fallen due to the trade war with china?

 

What happened to all the the money companies now have because of the corporate tax cuts? Didn't seem like it did much stimulating of the economy. No surprise there, companies invest when demand increases, not because they get goodies in the form of tax cuts.

 

This quote comes from the CNN article on the survey released yesterday.

 

Yep, the thing I kept saying to people who argued the tax cut would improve the economy significantly was, "where is the new incentive to spend that money broadly in the economy?"

If you give corporations (and rich people) a lot more money and you also want that money to get spread around the economy, then you need to create a new incentive for spending that money. Otherwise, they will just use it to increase their own wealth further (like stock buybacks) or spread it amongst the very, very tiny segments of the economy (luxury boats, houses, etc.) that already receives most of their money.

 

Not surprisingly, the Dow is down almost 500 points. The tax cut sugar high sure didn't last long.

Meanwhile, half of the predicted cost of the tax cuts ($1.5 trillion) has already been incurred in 2 years. And that's without recession. When the recession hits, you'll see deficits like never before.

 

Most U.S.companies used their tax savings to buy back their own stock, thereby enriching all executives who accept company stock as part of their compensation package.

 

The graph shows a massive climb under trump, and a very recent decline to Obama levels. A slight adjustment and things will be badk, we’ve heard this fearmongering by dems in the past that went nowhere

 

You mean like the two massive climbs, and the beginning of the Trump climb under Obama?

You are just as good as two of our other conservative friends on here with cherry picking data that are favorable to your leader.

 

Obama? hahah he had horrible numbers and said these jobs would never come back. This is just a little fearmongering, you all ahve done it for years now, it's never stuck

 

LOL! If Obama's manufacturing "numbers" were horrible, then what are Trump's numbers, which are lower than at ANY time during Obama's presidency?

 

Manufactoring jobs aren't lower:

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Under Trump they are massively higher. The OP doesn't deal with jobs...which frankly is the point

 

If the ISM Services sector, to be released tomorrow, shows a decline that will be a firm sign we are declining as it is much larger than manufacturing index.

 

Which companies?

Name one company and the product they manufacture and export to china

Unless CNN can document it this is just fake news

 

Oh yeah, the Dow Jones index dropped due to fake news.

 

....CNN is reporting on the contents of a survey. Dispute the survey if you wish, but don't blame CNN simply because you think the only way to prove that the manufacturing measurement has taken a dip is if you can name one company and the product they manufacture and export to china which has been negatively impacted by trump's trade war.

 

Fake news too?

https://www.foxbusiness.com/economy/china-american-imports-fall

To be specific, China's tariff on Automobiles of 25% will start in December. You think automakers and their manufacturing base will not notice?

 

I asked for one company and no one on the left has come up wiyj any

So till then this story is just fake news

 

CNN is pushing the story so to burden of proof is on them - and liberals who glob onto the story with no details to back it up

 

Meanwhile, Chinese exporters are beginning to feel the pressure as consumer demand abroad weakens, with markets to replace the U.S. becoming increasingly harder to find.

China buys very little from the US in the way of manufactured products but sells $350 billion to America

 

Caterpillar, Harley Davidson, iRobot, CSX, PPG, Bed,Bath and Beyond, John Deere, GM, Nvidia, Yeti, Carters, and the last one off the top of my head (and in your honor) Dick's

 

The drop in the Dow Jones index is not fake, seriously deal with it.

 

Yeti?

I bet their share of the paltry $120 bil we export to china is barely noticeable

But for sure china is hurting more

 

https://www.forbes.com/sites/kenrob...ticularly-hard-hit-by-trade-war/#37ff5a8ba713

While U.S. exports to China are off 19.86% this year, at a time when overall U.S. exports to the world are up 0.58%, these six-- soybeans, oil, natural gas, scrap copper, cotton and motor vehicles -- have been particularly hard hit.

 

Winning in Trump land: We are losing, but China is losing more. Strange concept. I thought the premise of the free market was the non-zero sum principle, i.e. win/win, in each transaction.