Swiss Economicblogs.org
Steel factory Photo credit: Laurentiu Iordache Victims of the Boom-Bust Cycle The world is drowning in steel – there is huge overcapacity in steel production worldwide. This is a direct result of the massive global credit expansion that has taken place over the past 15 years. Much of this capacity is located in China, but while the times were good, iron ore and steel production (and associated lines of production) was expanded everywhere else in the world as well. Heavy industries like...
Read More »The Stunning Idiocy of Steel Tariffs
