AK Steel to idle factories in response to the economic slowdown. Unsure how the manager has the guts to come out and say it was unanticipated. That would be good for a firing if I was his boss. It was widely and largely anticipated if you took 30 minutes to reach beyond mainstream media and politicians lies. About 650 workers to be impacted by this in the holiday shopping season of our clownsuming clownsumption economy.
Steel is heavily used in aircraft (less travel) and automobiles (big ticket items off the cliff) which are not high demand items right now.
This article brings up a point that I do not want lost on the reader. Not only do these 650 folks and their families get impacted. Also, not only are the stores and importers of cheap imported goods get impacted and factories overseas. Local businesses, such as bars, restaurants, movie theaters, and miscellaneous family-owned typed services are also going to get deeply impacted as laid off, furloughed, and newly budget conscious people reign in their spending.
Related:
Automobile demand meet the cliffs of the Grand Canyon
Car Parts Falling Apart!
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