There has been some talk on the forum of late about how the U.S. is doing great guns (Thanks Mike) and I for one totally disagree. Tonight I came across a story about how Michelin's sales in North America toped $10 billion dollars annually, due in part to cheaper oil prices but also because the roads there are deteriorating. To my mind this once great, though short lived, empire is fast approaching it's end and I felt it would be of interest to catalogue this.
As we all know, whatever happens in the US has important ramifications for life in Australia. For one it is now a major trading partner. It dumps huge volumes of questionable pharmaceuticals, genetically modified foods, and mind numbing Media products onto our shores (to name just a few). It is our military shield, the basis of our monitary policies, and plays a large part in our financials from the Superannuation investments we have over there to it's banking operations over here.
So in a nutshell we are tied to it's fortunes I believe. As it rose to power we joined ourselves to it and prospered as well, as it declines, so I believe will we. So without any further ado I will kick it off.
Quote:
America's terrible roads are good for Michelin's business: CEO
September 3, 2015
Michelin's sales in North America tops $10 billion dollars annually. The company designs, manufactures and sells tires for every type of vehicle from airplanes to bicycles. But Michelin's autos remain its base. “Right now demand is extremely strong right in the core of our business which is passenger car and medium truck tires,” said Selleck. And America’s deteriorating road conditions are helping the company's sales in that market. “Bad roads is actually good for our business because tires then get damaged,” said Selleck.
In its most recent infrastructure report, the American Society of Civil Engineers graded U.S. roads a "D". But Selleck puts the financial responsibility solely on the government. “At the federal level and at the very state levels, there has to be more money put into maintaining roads, bridges and other aspects of the infrastructure,” he said. The Federal Highway Administration estimates it will take $170 billion a year to make significant improvements on America’s roads and bridges.
This doesn't bode well for a transition to a nationwide fleet of small electric vehicles, unless those vehicles are offroaders. They simply do not have the wealth to maintain their standard of living.
"Panics do not destroy capital; they merely reveal the extent to which it has been previously destroyed by its betrayal into hopelessly unproductive works." John Stuart Mill
You and BP should really get together. Blind date? Bull and bear hit it off, putting their differences aside, bound by their love for the demise of America? Who wears the mankini?
Whenever you have an argument with someone, there comes a moment where you must ask yourself, whatever your political persuasion, 'am I the Nazi?'
Tonight I came across a story about how Michelin's sales in North America toped $10 billion dollars annually, due in part to cheaper oil prices but also because the roads there are deteriorating.
I was thinking that watching the last episode of SOA.
The roads were shocking.
Matthew, 30 Jan 2016, 09:21 AM Your simplistic view is so flawed it is not worth debating. The current oversupply will be swallowed in 12 months. By the time dumb shits like you realise this prices will already be rising.
Ignore posts by The Whole Truth · View Post · End Ignoring The forum fuckwit goes RRRAAARRRGGHHhhh - But not a fuck was given..................by anyone.
America's only significant problems are the potential implosion of US Treasuries and the status of the petrodollar. Fix those and everything else has potential upside.
It can't be challenged militarily.
It's crumbling infrastructure is a big opportunity for the unemployed to gain shovel ready jobs. Commodities are cheap too - good for rebuilding.
I'm bullish USA if they can get their Fed issues in order.
The collapse of the Roman empire to name but one empire. was characterized by an influx of cheap labour from the provinces. Roman born citizens were put out of work because of this profit maximizing effect. Back then it was slaves and today it is illegals from south of the border that is eroding the living standards of the average american.
Quote:
698,000 Native-Born Americans Lost Their Job In August: Why This Suddenly Is The Most Important Jobs Chart
After the Fed admitted over a year ago that the US unemployment rate (which in 2012 was supposed to be a rate hike "threshold" once it hit 6.5% and is now at 5.1%) has become irrelevant in a country where a record 94 million people have left the labor force, and with the Fed poised to hike rates even though US hourly wages have not only not increased for the past 7 years, but for the vast majority of the labor force continue to decline, some have asked - is there any labor-related chart that matters any more? The chart is the following, showing the cumulative addition of foreign-born and native-born workers added to US payrolls according to the BLS since December 2007, i.e., since the start of the recession/Second Great Depression
"Panics do not destroy capital; they merely reveal the extent to which it has been previously destroyed by its betrayal into hopelessly unproductive works." John Stuart Mill
"Decline of the American Empire; Post your findings here"
Detroit. Enough said.
Quote:
One clear key to improving conditions in Michigan and elsewhere is the revival of America’s industrial economy. Following a generation of falling employment, the sector has been on something of a rebound since 2010, adding some 855,000 jobs. Although many of these new jobs are in the Southeast and Texas, Great Lakes states have been at the center of the turnaround. The fastest growth in industrial employment over the past five years has been in three Michigan metro areas -- Detroit, Warren and Grand Rapids – and Toledo, Ohio.
The collapse of the Roman empire to name but one empire. was characterized by an influx of cheap labour from the provinces. Roman born citizens were put out of work because of this profit maximizing effect. Back then it was slaves and today it is illegals from south of the border that is eroding the living standards of the average american.
Can you provide one line from outside Zerohedge or perhaps from an official data set from the US government.
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