The Early Shift

Posted by vriz on 03/20/2009

early-shift.jpg The New York Times rings the alarm about manufacturing: global manufacturing has fallen off the cliff.  Manufacturing has declined in every major goods-producing economy.  The parallels with Great Depression times are ominous: then, as now, tightening credit and falling consumer demand in turn reduced demand for manufactured goods.  It was hard to recover from that downward spiral.   This is indeed a time of change.  The global economic crisis might have a lasting impact on the disctribution of power around the globe.  Developed countries, U.S. and EU, are losing their luster as they lose their shirts in the financial tsunami.  And the developing countries, like China are demanding greater visibility in various world forums, as they sit atop huge piles of cash. The Steelworkers are pleased with Treasury’s announcement that domestic auto parts suppliers will receive up to $5 billion in assistance. 

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