While the U.S. enforce poverty on themselves by declining projects such
as the Keystone pipeline, China marches on .
Steel production in China this year will pass 700 million tons. The U.S.
will produce around 50 million tons. That’s not a typo…50 million tons.
The U.S. produced more steel in the 1920′s than they do today. Despite
having some of the world’s lowest cost electricity now we cannot produce
steel. Why?
These are the questions no one in government will ask. Instead..everyone
waits on pins and needles to see what a Central Banker will say and if he
will tweak rates up or down or launch a new money printing scheme.
How about paying attention to your real economy? The government and business
elite won’t ask these questions. As they fly first-class over Americas
depleted “Rust Belt” they just turn their head away from the window.
From Bloomberg…
China is set to jolt iron ore off a six-month low after approving an estimated
$23 billion of steel projects that will use the raw material produced by mining
companies such as Rio Tinto Group (RIO) and BHP Billiton (BHP) Ltd.
Steel production in China, the world’s largest consumer of the alloy, may climb
to more than 700 million tons this year, the China Iron and Steel Association
said May 29. The nation produced 683 million tons last year.
D.Collins 
Keith 
