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US steel industry in collapse - report

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posted on Jan, 2 2009 @ 03:26 PM
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US steel industry in collapse - report


www.news.com.au

THE US steel industry is reportedly in collapse and looking for a massive government investment program of up to $US1 trillion ($1.42 trillion) to stimulate demand.

Output of steel has plunged 50 per cent since September as construction and car production have fallen sharply amid a US recession and the global credit crunch, The New York Times reports.
(visit the link for the full news article)



posted on Jan, 2 2009 @ 03:26 PM
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Another sector of the USA close to collapsing. Surprised? Nope.

There can't be that much real money left to bail out every industry that needs it. USA what have you done to yourself?

Through all the doom and gloom, I bet that the Military Industrial Complex will NEVER collapse! Doesn't the army use steel anymore? Build more tanks and ships! At least we know they'll be put to good use squashing another country and raping the world.

www.news.com.au
(visit the link for the full news article)



 
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