over capacity/over built

Tom Lehman uswa12 at lorainccc.edu
Mon Oct 5 05:47:05 PDT 1998

Dear Doug and the LBOers,

To illustrate the example of worldwide industrial over capacity consider this little example. Flat rolled steel(sheet metal) currently is being dumped into our domestic market for 11 cents a pound,on the other hand, cabbage or bananas costs at least 25 cents a pound at the supermarket.

Steel imports are trending toward a 30% increase over last year in all product catagories. If this trend continues the American steel industry will be out of business, companies will go bankrupt, people and communities will be destroyed. This in a steel industry that has the lowest man hours per ton production efficiency in the world.

Just a little somthing to think about on a Monday morning---IMF policies?

Sincerely, Tom Lehman

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