Cliffs cuts Iron Range production

  • Article by: DEE DePASS , Star Tribune
  • Updated: November 19, 2012 - 9:37 PM

Cliffs Natural Resources is shutting down lines at several of its North American iron ore plants, affecting jobs at Silver Bay and Babbitt.

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beefangusNov. 19, 12 4:19 PM

Another reason we don't need Obama handing out millions of work permits to "undocumented immigrants". The Dream Act is another nightmare for US Taxpayers.

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blatherskiteNov. 19, 12 4:20 PM

According to supply side economics, if you produce more the demand will increase accordingly. No wonder this company isn't doing well, they don't know economics.

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suzukisvNov. 19, 12 5:55 PM

Further proof that we don't want to give away the farm to the mining interests. It's always been a boom or bust type of business, so no need to give them much in the hopes of stable employment as stable employment has never come from any mining industry.

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dfloserNov. 19, 12 6:09 PM

Thats it keep voting for the DFL .I'll see you on the soup line my union freinds.

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jleonardNov. 19, 12 6:44 PM

beefangus - how can you possibly relate one word of this story to The Dream Act? Do you believe undocumented workers are cutting demand for steel? What do you want them to do - buy more cars or erect skyscrapers?

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jleonardNov. 19, 12 6:50 PM

dfloser - are you advocating the mysterious "them" in government (in your case the DFL) spend tax dollars to buy iron ore? Maybe the DFL should demand the government buy twinkies to prop up Hostess - at least then we'd have snack cakes coming from the "soup line".

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darkforcesNov. 19, 12 8:07 PM

blatherskite "According to supply side economics, if you produce more the demand will increase accordingly." -- Supply side economics doesn't state this. Supply side economics states that the economy grows and society becomes wealthier with an increase in production (wealth generation). If the price of those goods drop (due to less demand), resources must be re-allocated to areas where there is more demand. The opposite is demand side economics which state that we're better off going into debt and over-consuming. Hows all the pump-priming and stimulus spending working? More debt and no jobs to pay for it.

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voner26Nov. 20, 12 8:55 AM

Worked in mining for over 40 years and layoffs and strikes were always part of the economics which was very cyclic in nature which was based upon world market demands and prices. When the demand is up the prices rise with it. When union contracts are due if the demand and prices are up so are the wages and benes which are usually met and strikes are averted. So you see this is a business which is very cylic in nature and can usally be predictable. If you work in mining this goes with the territory. Politicians know this as well and should prepare their constituents with the benefits and possible training programs that will be required in their states and areas.

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