Friday, July 31, 2009

More Good News

Corporate Profits by Industry, Domestic Industries, 2008.

Nonfinancial....................... -9.9
Utilities........................ -26.6
Manufacturing.................... -26.8
Durable goods.................. -55.5
Nondurable goods............... -15.2

Wholesale trade.................. -1.8
Retail trade..................... -14.7
Transportation and warehousing... -53.8
Information...................... -16.9
Other nonfinancial............... 15.1

Note that Manufacturing and Utilities were neck and neck, minus almost 27%.

Durable goods, the stuff manufacturing plants create, and transportation/warehousing are down over 50%. Makes sense, if we quit making stuff, there will be nothing to transport or warehouse.

Since manufacturing is how we make and keep jobs, how we keep our trade deficit/surplus* manageable, how the government increases it's tax revenues, -27% is a disaster beyond calculating if this trend continues.

If it was just a slowdown as the feds would like you to believe, it would be recoverable. But remind yourself that the feds have been shipping off our jobs and plants for years, so it's not a slowdown, its a permanent turndown. The jobs are gone, the plants are gone.

Still think we're out of the woods? you need to get your nose out of your TV and your video games... and pay more attention to whats happening. Whats actually happening, not what the talking heads and bimbos on national TV want to make you think is happening.

*Trade surplus? What the heck is that? Obviously something the federal government has no clue about.

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