Pascometer dances on manufacturing’s grave

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There is nothing that the Insufferable Left loves more than to hollow out manufacturing, except perhaps to poke fun at Donald Trump. So when the two come together it is in ecstasy, from The Pascometer today:

For all the turmoil marking the first weeks of President Trump, the big boot is yet to drop. That’s when the angry heartland realises the factory jobs aren’t coming back, whatever Trump promised.

It will take time for that realisation to dawn on Trump’s followers. Minor events, such as the 700 Carrier jobs, will be well-publicised PR stunts and the overall employment picture will tend to overshadow what’s specifically happening in manufacturing. Employment momentum was building nicely over the past two years – nothing to do with Trump – as witnessed by the Federal Reserve starting to return monetary policy to something like normal.

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About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.