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Strategies & Market Trends : Mish's Global Economic Trend Analysis

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To: mishedlo who wrote (486)	2/23/2004 2:49:45 PM
From: mishedlo	Read Replies (1) of 116555

Manufacturing McDonald's? newsday.com White House economists wonder whether hamburger flippers at fast-food restaurants should be considered manufacturers. President George W. Bush raised the issue in his annual economic report. In the report last week, Bush's chief economic adviser N. Gregory Mankiw called the definition "somewhat blurry" and asked whether it should be changed. "When a fast-food restaurant sells a hamburger, for example, is it providing a 'service' or is it combining inputs to 'manufacture' a product?" =========================================================== From FY on the FOOL....... I took a field trip a Taco Bell manufacturing site yesterday for lunch. I'd like to report that we were barely able to communicate with the migrant laborers who manufactured our chicken soft-shell tacos and burritos, but they were quick and courteous. The assembly line was short and efficient. Our food outputs were created on demand for us, a marvel of "just in time" manufacturing. No flies were observed on the inputs, either. The factory floor appeared to have been recently swept, a marked improvement over the condition of the most recently-toured Wendy's manufacturing site. After our repast, the interactive portion of the tour was appreciated, as we manufactured some outputs in the mens' and ladies' factories, respectively. All in all, a very optimistic sign for the future of American manufacturing. --FY

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