When it comes to a lot of things about the economy, I’m a glass half-empty kind of guy. Will the government shut down soon because of the mess inside the beltway? Yeah, probably. The jobless rates are down this week! Yeah, we’ll see how long that lasts. Five years after the financial crisis and worst downturn in a generation, Fannie and Freddie still operate much like they always have, quantitative easing continues unabated, and nothing much has changed. That figures.
But when it comes to metal fabricators and manufacturing in general, I tend to be a little more optimistic. I started covering this business in the roaring 1990s. Since then, manufacturing has endured global competition and a roller coaster ride of booms and busts. The best fabricators keep on keeping on.
And even after all this, this isn’t a bad business, judging by the money being made. Honest.