Far as I can tell ewiz's whole discussion is about a "surplus"
The market pays less when there's a surplus. Problem solved. Unfortunately it took capital to solve it - so I guess our solution is invalid.
This literally isn't true at fucking all. There were widespread famines due to poor farming practices, not resource allocation. And authoritarian dictatorships aren't communist whatsoever: it's just feudalism in a new disguise.
no rather he is saying "producing too much steel" should not exist. the fact that producing more steel hurts the economy after a certain point is a problem with capitalism, says ewiz.
Yes, the market pays less. But it pays far more than what it cost to produce the steel, so the profits were still incredibly high. Apparently, that doesn't matter at all in capitalism, because it still tanked huge sectors of the economy
roughly~ they centrally planned it, and didnt centrally plan it correctly. you would think that the farmers would select the most profitable and efficient farming methods themselves, but the government told them what to do and it didnt turn out well.
Saying producing too much steel hurts the market is like saying taking a cheeky leak under the water at the beach hurts the waves
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Sorry but you have no clue what you are talking about
I never fucking said anything like that: you just can't fucking read and prove it over and fucking over again. I'm saying that steel was produced, demand was lower than expected, so they had to drop prices to a still very profitable level. There wasn't more steel than could be used. I already fucking said earlier that if it still has utility (meaning it can be fucking used) and is worth the cost to produce it, then there shouldn't be a fucking issue.
You really are a dunce. Honestly, you and asoul are both complete morons but in two very different ways. Asoul knows when he's a completely uninformed moron on the subject and just dodges every argument and all evidence provided, instead just making insipid quips.
On the other hand, you don't realize that you're an absolute idiot and try to make arguments which are completely incoherent and unjustified. Part of that is because you don't understand what you're talking about and don't get basic concepts, while part of it is because you have the reading comprehension of a fifth grader and can't fucking grasp what others are saying.
if the industry is going kaput then steel must be no longer profitable.
actually, steel cannot be profitable. ever. i simply dont believe you if you tell me the profit margins are that high, because they can't be. then people set up more steel factories until its not profitable anymore. maybe this is exactly what happened and there were suddenly too many unprofitable steel factories all at once.
You realize that the former is the basis of communism and the latter is about central planning? Communism is about the proletariat seizing the means of production. That means the workers control production and decide what to produce, how much, etc because they know it best. Just like farmers should. It's called the Soviet Union because the structure that was supposed to exist was government by workers' soviets, i.e. bodies of workers from specific industries. A totalitarian making decisions about farming instead of the farmers is the fucking problem and antithetical to communism.
It's fucking true. Profits were high, but growth was down. So the stocks tanked and factories shut down.
If the market pays more for steel than the cost of the materials (and labor/services) it took to produce it then that's because it was worthwhile to produce it and the producer was performing a valuable service to the economy
US steel died out due to globalization and regulation. Cheaper to produce in a country with weaker labor laws, poorer citizens with fewer options, etc. Globalization is not really a force for good in that regard - it has been one of the main driving factors behind the massive acceleration of income inequality
It fucking did. It left the Midwest devastated.
Dude what the fuck is ewiz talking about lol
You can't make a fucking coherent argument. Shut the fuck up
Read, dumbass.
If you just read the first couple paragraphs of the article you linked you would see it is repeating what I said
The very first paragraph is focused on imports and the section is largely devoted to the switch from exporter to importer, the rise of globalization, and the US's inability to compete on a global market (for a variety of reasons)
Somehow he quotes from this as if it proves his point, but only quotes the part that doesn't talk about imports (actually it is about imports and globalization, he just doesn't realize) and includes some insults along with it.
Really great stuff.
Yes, they're both fucking factors. That's the fucking point. We even talked about this in the fucking discussion: I kept referencing how outsourcing industry doesn't create equal jobs in another industry
That's because I never fucking claimed that imports and globalization weren't a fucking factor. I claimed that steel was being produced for far more than the cost of the labor. You said this was wrong. It being cheaper to make overseas doesn't fucking mean that it wasn't profitable in the US: it was just more profitable elsewhere.
Christ, neither of you two can read