Mileage Psycho Posted August 25, 2019 Share Posted August 25, 2019 Layoffs in the steel industry, not a good sign. Just a note to all, the steel indusrty has been growing since 2009..................... Quote The tide is starting to turn on one of Trump's favorite industries Washington (CNN)The tide is starting to turn on one of President Donald Trump's favorite industries: Steel. In Michigan, US Steel is temporarily laying off about 200 workers at a plant just outside Detroit. In western Pennsylvania, 78 people are about to lose their jobs when the Akers National Roll Company closes by the end of September and between 80 to 100 workers could be laid off from at an NLMK-owned plant outside of Pittsburgh. Steel industry jobs are heavily concentrated in swing states that were key to Trump's victory in 2016. Between Pennsylvania, where Trump won in 2016 by a small margin, and Ohio, where he turned an Obama state red, there are about 19,400 jobs at steel and iron mills, according to data from the Federal Reserve Bank of St. Louis. And Trump has made reviving American manufacturing, and specifically steel, a centerpiece of his presidency. Just last week, Trump went to Pennsylvania for the 13th time since his inauguration, boasting what he says is a revival of the US steel industry thanks to tariffs he imposed last year. "Pennsylvania steel raised the skyscrapers that built our cities. Steel was dead, your business was dead. I don't want to be overly crude, your business was dead. I put a little thing called a 25% tariff on all the dumped steel, now your business is thriving," he said, speaking at a petrochemical plant. Administration officials argue that the steel industry needs protection because it is vital to national security. Steel producers have long argued that other countries like China have dumped unfairly priced steel into the US market. "Our steel industry is essential to our national security and the President has shown he will not sit idly by and watch unfair practices threaten our safety and security," deputy White House press secretary Judd Deere said in a statement to CNN. "Because of the President's fight for a fair and reciprocal playing field, steel companies are expanding operations and attracting new workers," he added. It's true that the industry got a boost from the tariffs initially. The price of US-made steel jumped and production in the United States grew. Producers announced they were restarting a handful of mills, expanding existing plants, and had plans to build new ones. The Trump campaign says that's a success. "Under President Trump, US steel is finally making a comeback," said Kayleigh McEnany, national press secretary for the President's 2020 campaign, in a statement provided to CNN. "Thanks to President Trump, US steel production was up 6% last year and is up 4.5% so far this year. Steel workers have seen their paychecks increase by 14% — the highest increase in six years," she added. Last year, the United Steelworkers union did negotiate a new contract with US Steel that included a 14% raise over four years. The workers had agreed to a wage freeze in the previous contract. And the industry added about 5,000 jobs in the year after the tariffs went into place, about 1,000 more than it did during the same time period a year earlier, according to data from the Bureau of Labor Statistics. But there are other signs the industry is slowing amid softening global demand. About 1,600 jobs were created during the first six months of this year, compared to 2,800 during the last six months of 2018. US Steel (X) cut its earnings outlook earlier this year and has plans to reduce production at another plant in Indiana. Its shares are down 60% over the past year. Other big steel companies like Nucor (NUE) and Steel Dynamics (STLD) are forecasting lower profits, too. "I think it's a harbinger. Despite Trump's best efforts, the next year isn't looking too bright for the steel industry," said Gary Hufbauer, a senior fellow at the Peterson Institute for International Economics. There are a few factors contributing to the industry's troubles. Business uncertainty, fueled by Trump's trade war, has slowed investment. A weakening global economy and growing anxiety about a US recession in the United States are a drag on the industry, Hufbauer said. There are indications that things are slowing among the broader manufacturing sector as well, as tariffs raise the price for some component products needed to make items like sneakers and bicycles in the United States. A key manufacturing sector index released Thursday hit a 119-month low Thursday, indicating that the industry shrunk for the first time since September 2009. Additionally, jobless claims are up in key manufacturing states since the Trump administration put tariffs on a wide ranging list of about $250 billion of Chinese-made goods last fall, according to a recent BofA Merrill Lynch Global Research report. While there was accelerated growth in manufacturing jobs during Trump's first two years, economists are skeptical of describing it as a comeback. In Ohio, Wisconsin and Pennsylvania, for example, the number of manufacturing jobs are well off their 1990s peak and still haven't recovered to their pre-2008 levels. "It's more of a stabilization than a comeback," Hufbauer said. CNN's Betsy Klein contributed to this report. https://www.cnn.com/2019/08/23/politics/steel-manufacturing-trump-2020/?iid=ob_article_footer_expansion Quote Link to comment Share on other sites More sharing options...
Platinum Contributing Member Jimmy Snacks Posted August 25, 2019 Platinum Contributing Member Share Posted August 25, 2019 The resident mouth breathing hacks will simply label this as TDS and move on. Quote Link to comment Share on other sites More sharing options...
jtssrx Posted August 25, 2019 Share Posted August 25, 2019 5 minutes ago, Mileage Psycho said: Layoffs in the steel industry, not a good sign. Just a note to all, the steel indusrty has been growing since 2009..................... You getting excited for a collapse Vince?? Just now, Jimmy Snacks said: The resident mouth breathing hacks will simply label this as TDS and move on. Data is data if true that argument won’t work Quote Link to comment Share on other sites More sharing options...
DriftBusta Posted August 25, 2019 Share Posted August 25, 2019 3 minutes ago, Jimmy Snacks said: The resident mouth breathing hacks will simply label this as TDS and move on. I think its crystal fucking clear who the mouth breathers are in here. Start with a mirror you miserable downtrodden prick. Quote Link to comment Share on other sites More sharing options...
Platinum Contributing Member Jimmy Snacks Posted August 25, 2019 Platinum Contributing Member Share Posted August 25, 2019 Just now, DriftBusta said: I think its crystal fucking clear who the mouth breathers are in here. Start with a mirror you miserable downtrodden prick. 4 minutes ago, Jimmy Snacks said: The resident mouth breathing hacks will simply label this as TDS and move on. And look who is first to show up....The biggest hack here!!!! 😂 Quote Link to comment Share on other sites More sharing options...
Snake Posted August 25, 2019 Share Posted August 25, 2019 Snacks: "Man, FUCK that blowjob!" 1 Quote Link to comment Share on other sites More sharing options...
Momorider Posted August 25, 2019 Share Posted August 25, 2019 43 minutes ago, DriftBusta said: I think its crystal fucking clear who the mouth breathers are in here. Start with a mirror you miserable downtrodden prick. Poor angry lying paint huffing FAT fuck alcoholic shitforbrains 1 Quote Link to comment Share on other sites More sharing options...
Platinum Contributing Member Jimmy Snacks Posted August 25, 2019 Platinum Contributing Member Share Posted August 25, 2019 (edited) 22 minutes ago, Snake said: Snacks: "Man, FUCK that blowjob!" Weird....Mark was right there though with a forced laugh. Edited August 25, 2019 by Jimmy Snacks Quote Link to comment Share on other sites More sharing options...
Snake Posted August 25, 2019 Share Posted August 25, 2019 Just now, Jimmy Snacks said: Weird. Man, fuck this sunshine.... Quote Link to comment Share on other sites More sharing options...
spin_dry Posted August 25, 2019 Share Posted August 25, 2019 1 hour ago, Mileage Psycho said: Layoffs in the steel industry, not a good sign. Just a note to all, the steel indusrty has been growing since 2009..................... Grim. But trump is great. Quote Link to comment Share on other sites More sharing options...
Mainecat Posted August 25, 2019 Share Posted August 25, 2019 1 hour ago, Jimmy Snacks said: The resident mouth breathing hacks will simply label this as TDS and move on. No it’s CNN so it’s not news Quote Link to comment Share on other sites More sharing options...
Platinum Contributing Member Jimmy Snacks Posted August 25, 2019 Platinum Contributing Member Share Posted August 25, 2019 53 minutes ago, Snake said: Man, fuck this sunshine.... How is a downturn in the steel industry considered sunshine and you are in the same boat as your elderly friend...8 years of tears under Obama. Quote Link to comment Share on other sites More sharing options...
Platinum Contributing Member Jimmy Snacks Posted August 25, 2019 Platinum Contributing Member Share Posted August 25, 2019 Just now, Mainecat said: No it’s CNN so it’s not news Of course and even if it is proven to be true Mango Mussolini will just blame one of his suddenly stupid appointees. 😂 Quote Link to comment Share on other sites More sharing options...
spin_dry Posted August 25, 2019 Share Posted August 25, 2019 1 minute ago, Jimmy Snacks said: How is a downturn in the steel industry considered sunshine and you are in the same boat as your elderly friend...8 years of tears under Obama. I can see how a delivery man for the last several decades can misread what’s in the news, but an investment specialist? Quote Link to comment Share on other sites More sharing options...
Zambroski Posted August 25, 2019 Share Posted August 25, 2019 Lol! Spinner, MC and Pouty just losing their minds that others aren’t ready to end their lives also. Quote Link to comment Share on other sites More sharing options...
Anler Posted August 25, 2019 Share Posted August 25, 2019 I think Ben already told us about this. I wonder where the slow down is, construction, autos? I know this tho, the more people cry recession the less likely people are to build or buy. We need some positive news on the horizon. Quote Link to comment Share on other sites More sharing options...
Snake Posted August 25, 2019 Share Posted August 25, 2019 Just now, Zambroski said: Lol! Spinner, MC and Pouty just losing their minds that others aren’t ready to end their lives also. Pouts likes to act like he is the first who will take a knife to his own throat, but Vag would have to go first...... he needs his guidance. Quote Link to comment Share on other sites More sharing options...
Zambroski Posted August 25, 2019 Share Posted August 25, 2019 Just now, Snake said: Pouts likes to act like he is the first who will take a knife to his own throat, but Vag would have to go first...... he needs his guidance. I’ve got Pouts at #1 still. He doesn’t have the mental staying power that Spinner does. Spinner is a solid #2 though. Lots of years being involved with society’s losers while trying to help and defend their actions as being “victims” has got to eat away at a normal mind. Quote Link to comment Share on other sites More sharing options...
Woodtick Posted August 25, 2019 Share Posted August 25, 2019 4 minutes ago, Anler said: I think Ben already told us about this. I wonder where the slow down is, construction, autos? I know this tho, the more people cry recession the less likely people are to build or buy. We need some positive news on the horizon. Look around,everyone is driving a new car. That bubble has to burst. Quote Link to comment Share on other sites More sharing options...
Anler Posted August 25, 2019 Share Posted August 25, 2019 Just now, Woodtick said: Look around,everyone is driving a new car. That bubble has to burst. With the price of these new cars i cant imagine buying a new one every couple years. 1 Quote Link to comment Share on other sites More sharing options...
Snake Posted August 25, 2019 Share Posted August 25, 2019 1 minute ago, Anler said: With the price of these new cars i cant imagine buying a new one every couple years. I will never buy a new car. Quote Link to comment Share on other sites More sharing options...
Platinum Contributing Member Jimmy Snacks Posted August 25, 2019 Platinum Contributing Member Share Posted August 25, 2019 10 minutes ago, Snake said: Pouts likes to act like he is the first who will take a knife to his own throat, but Vag would have to go first...... he needs his guidance. Your whole adult life has required guidance....first the Army and now The Teamsters. Quote Link to comment Share on other sites More sharing options...
Woodtick Posted August 25, 2019 Share Posted August 25, 2019 3 minutes ago, Anler said: With the price of these new cars i cant imagine buying a new one every couple years. A coworker just bought a new 19 Denali 3/4 ton. He said the dealer had 6 19’s on the lot to choose from and the 20’s are going to start showing up? I think the auto industry was way over confident and over produced? Quote Link to comment Share on other sites More sharing options...
Anler Posted August 25, 2019 Share Posted August 25, 2019 Just now, Woodtick said: A coworker just bought a new 19 Denali 3/4 ton. He said the dealer had 6 19’s on the lot to choose from and the 20’s are going to start showing up? I think the auto industry was way over confident and over produced? Trucks are stupid priced 1 Quote Link to comment Share on other sites More sharing options...
Woodtick Posted August 25, 2019 Share Posted August 25, 2019 5 minutes ago, Snake said: I will never buy a new car. I buy myself a new car every 10 to 12 years. Fuck that every 2 to 3 year shit. Quote Link to comment Share on other sites More sharing options...
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