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"You're crippling a sector that was supposed to be an engine of investment for these plants".
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As the engine of that investment, Wall Street regularly booms and busts in advance of the rest of the country.
And as with many entrepreneurs, Mr. Hayden never claimed expertise in the arcana of margin calls, puts, hedges and collars that are the engine of the investment banking world.
An extraordinary culture within the SCM division once allowed tax avoidance not just to thrive but become the engine of Barclays' investment banking's growth.
Since investment is the engine of growth, low investment should mean slower growth.
But the data on private-sector spending and investment indicates that the economy remains heavily reliant on the old engines of capital investment and strong exports that powered it in the 1970's and 1980's.
What rattles the markets is how slumping exports might combine with weaknesses elsewhere in the economy to throw the lone engine of domestic growth, business investment, into reverse.
Income in bonds, currencies and commodities – the engine of growth for many investment banks last year – was down 40% on the same six months last year.
But the liberalisation that brought this consumer boom about has limped to a halt.The engine of change was an investment law passed in 1991, in response to a severe recession in the late 1980s.
Stonecipher is an engineer who used to run GEs jet-engine division – enginemakers use lots of investment castings.
"Foreigners know that if the United States is in trouble, then their own countries will be in worse trouble, because the U.S. is the global engine of growth," said James W. Paulsen, chief investment officer at Wells Capital Management, an investment firm.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com