Hold On To Your Panties!
Here comes the Bush Boom.
WASHINGTON (AP) -- Industrial production plunged in October by the largest amount in nine months, reflecting a big drop in utility output and continued troubles in autos and housing-related industries.
The Federal Reserve said that output at the nation's factories, mines and utilities fell by 0.5 percent last month, a much worse outcome than had been expected.
The October decline, the biggest since a similar drop in January, was led by a sharp plunge in output of electricity and natural gas due to warmer-than-normal weather during the month.
NO! the economy is fine cause georgie says so. you know HE'S the deciderer.
Posted by: pansypoo | November 16, 2007 at 11:13
Pansy, as a friendly amendment: The decider has repeatedly said that the economy does best and money is spent best when it stays with the individual.
Cost of gas up by $2 = how many dollars left in the average person's pocket at the end of the month (not to mention the HumVee crowd). And how much of their minimum wage job wages is that ? Of course, you can always stop commuting to work.
Cost of food up - well you can always stop eating.
Increased cost of gas leading to increases in anything manufactured. Use of corn for ethanol instead of food increases demand (and price) of corn leading to increase of almost any food (as corn is used in almost everything, not to mention for feeding livestock).
Poor value of the dollar means that we can't buy stuff from overseas (? as this interferes with imports / NAfTA is this seen as a Good thing ?).
Is is any wonder that production has been throttled back instead of the factories trying to produce a product that is consequently more costly and sell it to the people who are less able to afford it ?
Posted by: MapleStreet | November 16, 2007 at 14:05