Economy ~ Made In America ~ [US Shale Juggernaut Stomping OPEC + MFG's Biggest Annual Job Gain In 20 Years]

[NoDak]

Dude, it was nuts. Many were expecting a sig slow down or even negative. Yet, BAM it was huge. I am going to stop pretending I understand things anymore

 

[Cuauhtemoc]

Dude, it was nuts. Many were expecting a sig slow down or even negative. Yet, BAM it was huge. I am going to stop pretending I understand things anymore

I know it's a USA thread but Krugman and other liberals are pissed. He predicted both a crash in the US due to Trump and a crash in China due to lack of democracy there. Both are still growing strong even if China slowed down a bit they're still cruising above 6%.

 

[ElKarlo]

I know it's a USA thread but Krugman and other liberals are pissed. He predicted both a crash in the US due to Trump and a crash in China due to lack of democracy there. Both are still growing strong even if China slowed down a bit they're still cruising above 6%.

This is a problem when you mix your political wishes with your science. CHina won't collpase unless it's debt gets out of hand and the govt has no more levers to pull. Otherwise they will grow. That was a stupid prediction and based off of people not liking Trump. I don't like him, but I am not blind about it.

 

[Cuauhtemoc]

This is a problem when you mix your political wishes with your science. CHina won't collpase unless it's debt gets out of hand and the govt has no more levers to pull. Otherwise they will grow. That was a stupid prediction and based off of people not liking Trump. I don't like him, but I am not blind about it.

https://www.nytimes.com/2019/01/15/opinion/will-chinas-economy-hit-a-great-wall.html

The other day I issued a warning about the Chinese economy. It is, I wrote, “emerging as a danger spot in a world economy that really, really doesn’t need this right now.”

Unfortunately, the other day was more than 6 years ago. And it’s not just me. Many people have been predicting a China crisis for a long time, and it has kept on not happening.

 

[ElKarlo]

https://www.nytimes.com/2019/01/15/opinion/will-chinas-economy-hit-a-great-wall.html

Yeah been chicken Littles calling this for years. Yes a lot is dishonest in China a d I don't trust their numbers. That said, it's not all made up and it's clearly growing.

 

[Cuauhtemoc]

Yeah been chicken Littles calling this for years. Yes a lot is dishonest in China a d I don't trust their numbers. That said, it's not all made up and it's clearly growing.

To be fair they started from a very low base. But it's also the way of the world, countries grow, excluding the ones that are terribly mismanaged or that suffer from war. India, Brazil, China, Mexico, Nigeria, they are all growing in the long run.

 

[ElKarlo]

To be fair they started from a very low base. But it's also the way of the world, countries grow, excluding the ones that are terribly mismanaged or that suffer from war. India, Brazil, China, Mexico, Nigeria, they are all growing in the long run.

True and some countries like Brazil turned great into zero great. And South Africa is probably going to slowly destroy it's economy. But yes China and other developinf nations have great tail winds for growth

 

[Cuauhtemoc]

True and some countries like Brazil turned great into zero great. And South Africa is probably going to slowly destroy it's economy. But yes China and other developinf nations have great tail winds for growth

What does that mean? lol

 

[ElKarlo]

What does that mean? lol

Zero growth . Sorry my phone.
Brazil had the corruption and mismanaged which led to zero growth.
My phone sucks at guessing

 

[NoDak]

Buy American, Hire American.

 

[NoDak]

 

[Caudillo]

Before we get to the central thread topic and study, a quick review would probably serve a decent purpose here.

There are some pretty huge misconceptions about the Industrial sector, US manufacturing, the state and future of it. Industry 4.0 is upon us: driven by a massive volume of available data, developments in analytics and machine learning, new forms of human-machine interaction and the ability to transmit digital instructions to the physical world. The whole sector is undergoing a reinvention and many of the new jobs will require skilled labor.

The importance of a strong manufacturing base is probably understated considering that it indirectly supports millions of other jobs (17.1 million to be exact, according to an EPI release in 2015) and has the highest multiplier of any economic sector: each dollar’s worth of manufactured goods generates around $1.89 in output from other sectors of the economy (per Deloitte).

It's also actually very far from "hallowing out", I'll replace and update the FRED data as time moves along.

The US Is Beating China On The Factory Floor. This Is Why.

How The US Plans To Replace China As The World's Largest Manufacturer

Reshoring Initiative Data Report: Manufacturing Reshoring Plus FDI Job Announcements Up 2,800% Since 2010

Now here's the actual problem.

Deloitte: Future Of Manufacturing Skills Gap (Study)

For more than two centuries, the manufacturing industry has adopted new technologies and provided new jobs for workers. Today, the industry is experiencing exciting and exponential change, as technologies such as artificial intelligence (AI), robotics, and Internet of Things (IoT) are rapidly changing the workplace. While some predicted that these new technologies would eliminate jobs, we have found the reverse—more jobs are actually being created.

In fact, job openings have been growing at double-digit rates since mid-2017, and are nearing the historical peak recorded in 2001. In this dynamic manufacturing environment, Deloitte and The Manufacturing Institute launched their fourth skills gap study to reevaluate their prior projections and move the conversation forward on today’s hiring environment and the future of manufacturing work. The results appear to highlight a widening gap between the jobs that need to be filled and the skilled talent pool capable of filling them.

The study reveals that the skills gap may leave an estimated 2.4 million positions unfilled between 2018 and 2028, with a potential economic impact of $2.5 trillion. Further, the study shows that the positions relating to digital talent, skilled production, and operational managers may be three times as difficult to fill in the next three years.

When will the US run out of oil?

 

[ObamaPhoneLady]

When will the US run out of oil?

Not for a very long time.