U.S. Industrial Production Figures Inflated By Fracking!!!
The much touted renaissance in U.S. industrial production does not stand up to scrutiny. The rate of growth in U.S. manufacturing is slumping and non-energy balance of trade is deep in the red. The fracking bubble has been used to bump up the figures and justify itself.
When people think of industrial production, they generally think of factories. What is actually happening is that mining has come to dominate America’s industrial production, and fracking falls into the category of mining. To put it another way, America’s industrial rebound is largely a matter of poisoning groundwater for gas, paid for with debt and sold at a loss. Read more about frackonomics…
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