Is the Biden economy about to go Kaput??

[Capt Ron 1]

US Steel announces plans to lay off hundreds at southern Illinois mill

Up to 1,000 jobs are on the chopping block for U.S. Steel Corporation's Granite City Works mill in southern Illinois, the company announced this week.

www.foxbusiness.com

We KNEW inflation was taking a serious toll. They say groceries are 20% higher...I think it is more like 100% higher. But over 1000 layoffs in one town? I have been waiting for this to happen, but it has taken longer than expected. Gubment money finally running out....THIS is Brandons "Build back BROKE" policies

 

[fatman76]

US Steel announces plans to lay off hundreds at southern Illinois mill

Up to 1,000 jobs are on the chopping block for U.S. Steel Corporation's Granite City Works mill in southern Illinois, the company announced this week.

www.foxbusiness.com

We KNEW inflation was taking a serious toll. They say groceries are 20% higher...I think it is more like 100% higher. But over 1000 layoffs in one town? I have been waiting for this to happen, but it has taken longer than expected. Gubment money finally running out....THIS is Brandons "Build back BROKE" policies

The bad part here is steel is a subcomponent of other US manufacturing.

From injection tooling to car parts to building materials like rebar, the fact that there is not enough steel demand to keep the mills running is a terrible sign.

This might mean that the trillions in stimulus have run out and the other side of the "sugar high" is coming. It will not be pleasant.

 

[Capt Ron 1]

The bad part here is steel is a subcomponent of other US manufacturing.

From injection tooling to car parts to building materials like rebar, the fact that there is not enough steel demand to keep the mills running is a terrible sign.

This might mean that the trillions in stimulus have run out and the other side of the "sugar high" is coming. It will not be pleasant.

This is exactly what I think. Markets should recede shortly after

 

[nail1988]

US Steel announces plans to lay off hundreds at southern Illinois mill

Up to 1,000 jobs are on the chopping block for U.S. Steel Corporation's Granite City Works mill in southern Illinois, the company announced this week.

www.foxbusiness.com

We KNEW inflation was taking a serious toll. They say groceries are 20% higher...I think it is more like 100% higher. But over 1000 layoffs in one town? I have been waiting for this to happen, but it has taken longer than expected. Gubment money finally running out....THIS is Brandons "Build back BROKE" policies

@Mdfgator @kalimgoodman [USER=79616]@BSC911

 

[Orangeclad]

Even Biden now knows Bidenomics suck.
Biden used the term "Bidenomics" 101 times from June thru October.
In November---ZERO
Even he knows it's a loser.

 

[GatorshimesDisappointingJunk]

The bad part here is steel is a subcomponent of other US manufacturing.

From injection tooling to car parts to building materials like rebar, the fact that there is not enough steel demand to keep the mills running is a terrible sign.

This might mean that the trillions in stimulus have run out and the other side of the "sugar high" is coming. It will not be pleasant.

There is not enough demand for AMERICAN steel.

I promise Chinese steelworker don't have this problem, the volume of D2 tool steel alone from China is staggering.

 

[fatman76]

There is not enough demand for AMERICAN steel.

I promise Chinese steelworker don't have this problem, the volume of D2 tool steel alone from China is staggering.

For some things, like rebar and remesh, over 90% comes from the US.

US production accounts for about 75% of our usage (as of 2021).

But you're correct, the Chinese steel industry is 10X the size of ours.

 

[Mdfgator]

Lots of geniuses here….I know you guys know you’re dumb. You have always been dumb, why are you talking about something you cannot possibly begin to understand??? It’s hilarious