The Obama economy

http://www.aei-ideas.org/2012/08/stagna ... -weakness/

"Bad news on a formerly bright spot in the U.S. economy. Bloomberg:


Manufacturing in the U.S. unexpectedly contracted for a second month in July, showing a mainstay of the economy was struggling to improve as global economies weakened.

The Institute for Supply Management’s factory index was 49.8 last month, close to the three-year low of 49.7 reached in June. Fifty marks the dividing line between expansion and contraction. Economists surveyed by Bloomberg News projected a reading of 50.2, according to the median estimate.

Here is IHS Global Insight’s take:"........................

I contribute to that index. Our medical sales have actually been up lately but our customers are choosing to buy capital equipment now before the onerous Obamacare capital equipment taxes start next year.
So expect medical manufacturing sales to plummet in 2013.

FredHayek wrote: I contribute to that index. Our medical sales have actually been up lately but our customers are choosing to buy capital equipment now before the onerous Obamacare capital equipment taxes start next year.
So expect medical manufacturing sales to plummet in 2013.

That should help the numbers for job creation in 2013... NOT!

Especially when you add in military sequestration, Obama could preside of the worst 8 years of an administration since FDR and the Great Depression. Is Barack sure he wants to win and continue this death spiral?

Jobless Claims Increase
The number of U.S. workers filing applications for jobless benefits rose last week, continuing an uneven pattern that suggests job creation was likely modest in July.

Separately, factory orders unexpectedly fell in June, the latest sign that the slowing economy is sapping demand.

Source, the Wall Street Journal

Raees wrote:

Good to know we will always have you around to find bumpersticker 1/2 truth cartoons that misrepresent to explain complicated issues.

For example, illegal aliens, sure, numbers are down, because Obama's economy is crap and there aren't even jobs for people willing to work for below minimum wage,
but that still leaves millions of illegals taking jobs from Americans and driving wages lower.

If you only have two illegals competing against you for a job instead of four, it is still two too many.

So you're applying to pick vegetables and mop the floor now?

Exactly WHAT jobs have you applied for that you are competing against illegals?

Even the illegals are not stupid Raees. They do not just pick tomatoes anymore.

They are roofers, concrete workers, carpenters, plumbers, electricians, landscapers, maintenance workers at every level. The building I work in must have a few dozen of them just for this site- they mow the lawns, maintain the landscaping, fix the roof, provide maintenance to the HVAC systems and service the housekeeping.

These were all jobs that just a dozen years ago you would have found American citizens doing the work- but now I'd bet they are all illegal. I don't know this for sure- but none of them speak a single word of english- because I have talked with them and the only thing they understand is my broken spanish.

I have one brother who is a builder- and he's finding himself competing directly with companies who hire illegal labor. His overhead costs do not allow him to be competitive because he pays insurance for everything from his vehicles to liability for the business- and he hires legal labor to help him.

BearMtnHIB wrote: Even the illegals are not stupid Raees. They do not just pick tomatoes anymore.

They are roofers, concrete workers, carpenters, plumbers, electricians, landscapers, maintenance workers at every level. The building I work in must have a few dozen of them just for this site- they mow the lawns, maintain the landscaping, fix the roof, provide maintenance to the HVAC systems and service the housekeeping.

These were all jobs that just a dozen years ago you would have found American citizens doing the work- but now I'd bet they are all illegal. I don't know this for sure- but none of them speak a single word of english- because I have talked with them and the only thing they understand is my broken spanish.

I have one brother who is a builder- and he's finding himself competing directly with companies who hire illegal labor. His overhead costs do not allow him to be competitive because he pays insurance for everything from his vehicles to liability for the business- and he hires legal labor to help him.

It is a false statement to say illegals only pick veggies. Bear is exactly right. In construction, the huge problem of illegals is driving wages WAY down, and driving those who hire legals and do things right out of business.