Those Stubborn Facts: A Strange Definition of a Broken Trump Promise

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Associated Press, CCP Virus, coronavirus, COVID 19, health security, Mainstream Media, manufacturing, masks, medical supplies, PPE, supply chain, textiles, Those Stiubborn Facts, Trump, Wuhan virus

“Shortages of meltblown textiles, key to N95 mask-making, illustrate ‘the failure of this administration to take necessary steps to fulfill’ its promise of restoring critical manufacturing capacity lost to China.”

– Associated Press, September 10, 2020

“Pre-pandemic, five U.S. producers were making about 42 million N95 masks a month. By October, that is projected to have increased to 11 U.S. producers making 168 million a month, which could amount to 2 billion a year….”

–Associated Press, September 10, 2020

“Also pre-pandemic, 24 U.S. companies were making meltblown, with 79 machine lines in operation….But only a fraction of that was going into medical respirators….By the end of 2021… there will be 28 new lines in the U.S., representing a 35% increase, with almost all of the newly produced textile going into medical supplies.”

–Associated Press, September 10, 2020

(Source: “Scarcity of key material squeezes medical mask manufacturing, by Martha Mendoza, Juliet Linderman, Thomas Peipert, and Irena Hwang,” Associated Press, September 10, 2020, https://apnews.com/02a0542e8a05176bd5d79757134bc277)

Those Stubborn Facts: A High Cost of Easy Money?

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bailouts, capitalism, corporate finance, debt, interest rates, monetary policy, Ruchir Sharma, stimulus, The Wall Street Journal, Those Stiubborn Facts, zombie companies

Share of publicly traded companies in the U.S. that were zombie companies*, 1980s: 2 percent

Share of publicly traded companies in the U.S. that were zombie companies, “by the eve of the pandemic”: 19 percent

*”[C]ompanies that, over the previous three years, had not earned enough profit to make even the interest payments on their debt.”

(Source: “The Rescues Ruining Capitalism,” by Ruchir Sharma, The Wall Street Journal, July 24, 2020, https://www.wsj.com/articles/the-rescues-ruining-capitalism-11595603720 )

 

Those Stubborn Facts: Congress Members Failing the Voters on U.S.-China Trade

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China, Congress, Jobs, Those Stiubborn Facts, Trade, WTO

Number of U.S. House Districts: 436

Number of House Districts in which U.S.-China trade has created net new jobs since China’s 2001 WTO entry: 1

Number of U.S. Senators: 100

Number of U.S. Senators whose states have seen net new jobs from U.S.-China trade since China’s 2001 WTO entry: 0

(Source: “U.S.-China Trade Deficits Cost Millions of Jobs, with Losses in Every State and in All but One Congressional District,” by Robert E. Scott, Trade and Globalization, Economic Snapshot, Economic Policy Institute, December 18, 2014, http://www.epi.org/publication/u-s-china-trade-deficits-cost-millions-of-jobs-with-losses-in-every-state-and-in-all-but-one-congressional-district/0)