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July Industrial Production Number

Was a surprise to the upside, but look a little deeper. I was going to write on this but the below link does a much better job laying it out than I would have. Further evidence that when government subsidizes/incentivizes production in a particular segment (in this case autos, but see housing circa 2003), you get production Whether real end-demand exists or not (ex. fleet purchases, auto sales were actually down in July despite the increased production) is another question.