Housing Recession Causes Another Manufacturer to Close Plant

That’s the headline that ought to alarm blue collar Republicans, the so-called Reagan Democrats. But, will it? Or have they been so politicized and so thoroughly brainwashed by  the professional propagandists on AM Talk Radio that they can’t see the forest for the trees?

Pella Windows announced that they are closing 2 plants, one in Ohio and another in South Carolina.  Here’s the statement: “We consider plant closures and workforce reductions as a last resort, but new home construction has dropped more than 70 percent since 2006 and construction activity is predicted to remain soft,” said Pella spokesperson Kathy Krafka-Harkema. “Therefore, unfortunately, we must reduce excess manufacturing capacity.”

The housing crisis. Again. Still causing heartbreak and hardship some three years after the fiasco came to a head.  Collateral damage, too, as in the window manufacturing business.

Does the Low Information Voter know much about this? Who knows? Yet, the right-wing talking heads are diverting their attention 24/7 away from Wall Street and the Corporate Banks by choosing to mouth the phrases of the GOP- it’s all about taxes and regulations.

Yes, if only….if only corporate America didn’t have to pay so many taxes; if only there weren’t so many regulations getting in their way! Just yesterday 5 GOP candidates, Rick Perry, Rick Santorum, Michele Bachmann, Ron Paul and Newt Gingrich, attended a forum in Iowa and, when the question of job creation arose, each mouthed the standard corporate line,’lower taxes and less regulations.’ [link]

Really? Taxes and regulations have been low for the past 10 years and, one may ask, where are the jobs?  If they are just a little lower, will the job market expand? Click your ruby slippers three times…

Pella didn’t close their plants because of regulations or taxes; the housing crisis helped close their manufacturing plants. The Wall Street Gamblers helped close the plants.  The unregulated corporate banks helped close the plants. Specifically, the GrammLeachBliley Act all by itself helped close the Pell manufacturing plants.   That was GOP Senator Phill Gramm, GOP Congressman Jim Leach and GOP Congressman Thomas Bliley. Their bill replaced the long-standing banking law, the Glass–Steagall Act of 1933.

Republicans.

And now the Republicans are blaming taxes on corporations and corporate regulations for the fiasco. Three of the 5 GOP hopefuls at the Iowa forum suggested a ZERO tax on off-shore profits. Yes, zero.

Does the Low Information Voter know any of this? Or the slogans too cute? Has their brainwashing been so complete that they no longer even look for the facts? Do the Iowa voters understand how the Gramm-Leach-Bliley Act ruined their dreams, caused unemployment, and sent their neighbors into foreclosure? Or are they more comfortable shouting, Taxed Enough Already!

The Low Information Voters are killing America but they don’t even know it. Sloganeering is so much easier.

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10 thoughts on “Housing Recession Causes Another Manufacturer to Close Plant

  1. Actually, deregulation and lowering taxes have been the agenda for the past 30+ years with the result being that the economy has returned to being as unstable as it was prior to 1913.

    I could add in that the entrenched “two party” (one party?) system also doesn’t help. Toss in that big business can finance campaigns as well for a soup that will lead to anarchy.

    You might find the Centre for Economic and Policy Research’s “‘Facts & Myths About A Financial Speculation Tax’. to be of interest as well.

  2. Those laws were changed because of changing conditions of the global financial community. Yes, they were a bad response. But how can you expect our government to respond to changing global conditions when our own government can’t make decisions for our own benefit without considering the aspirations of Israel? The United States government has to start making decisions that benefit us for a change. We are no longer the big cheese on the planet Earth.

    (A couple of Palestinian kids throw some rocks at some Israeli soldiers, so Israel bombs a Palestinian school.)

    1. We are no longer the big cheese on the planet Earth.

      The problem is that the US hasn’t figured that out yet. It is still living in its days of glory.

      That is why there is antagonism toward the occupy movement from those who should side with it.

  3. OFF TOPIC: It appears I was wrong about “TenthGenerationPartiot” and it makes me feel bad. Why can’t people just talk about why they have different opinions without being mean? If someone told me I was screwing myself, I would at least stop and listen to what they had to say. If I didn’t believe them, I would at the very least research the issues. What makes it so much worse is that them don’t seem to give a damn about their kids.

    I also thought the person that goes by “Sepp” could be reasoned with; I was wrong.

    I’m really depressed. But strangely, I will be OK, but these people will be hurting and, as little as I know about them from here and their blogs, I will feel bad they are hurting. Damn this thing called the “human condition”.

    1. I just got to my blog now @10:30 PM and I did not check Tenth’s blog where I posted a question this morning. But, I assume that he did not care for my query, right? He has his mind made up and that’s all he needs to know?

      If this is indeed the case, then I’ve had enough of him and his posse.

      I’lll check it all out tomorrow.

      G’night.

  4. Mud- How exactly did the Gramm-Leach-Blily Act cause the shut-down of a Pella factory? Oh, the above act only repealed part of the Glass-Steagall act.

    1. JOB- domino effect, of course. Glass-Steagall, as you surely know, opened the door for banks to become investors too. They lost. Housing mortgages tanked then the housing market. Windows next in line.

      1. JOB, I made my living in the mortgage banking business. Now they have all disappeared because banks have taken over. There were laws limiting banks as to what they could control – kind of like a balance of power. We had laws to follow and the banks had laws to follow.

        I remember when the deregulation started. It was supposed to be for an increase in efficiency and to compete on a level playing field with foreign banks. The first thing the banks did was buy up the brokerage houses and the mortgage bankers. What we ended up with were “sheep in wolfs’ clothing” that were “too big to fail”. What we really ended up with were huge companies with high paid lobbyist and well funded PAC’s. Remember, a politician is a politician, that’s how they get elected; not because they’re an economist. The only thing they worry about is the next election.

      2. I disagree. The Glass Steagall Act actually had the reverse effect. Did you mean Gramm-Leach Blily Act ?

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