Of course, there are still a lot of people that would like to use it against free trade, which has had nothing to do with it. 
Of course, there are still a lot of people that would like to use it against free trade, which has had nothing to do with it.
Interesting take on the decline of Manufacturing Jobs.
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Obama Says A Baby Is A Punishment
Obama: “If they make a mistake, I don’t want them punished with a baby.”
All true. Eventually, about fifty million workers will be able to produce all the manufactured goods the world needs, and fifty million farmers will produce all the food.
When that happens, what will everyone else do?
ANYTHING to encourage personal savings and capital investment staying in the USA would go a LONG way to reversing this situation, whether by a drastically simplified income tax that rewards personal savings and capital investment, a 4-6% no-deductions flat income tax, or the FairTax replacement for the income tax.
The dollar value is not adjusted for inflation, is it?
OK, if I read rather than scan...
The actual concern here would be what happened to all those people who lost their jobs and their economic input.
We rebuilt our enemies’ manufacturing capability with modern equipment, while neglecting the infrastructure we had all-but used up during WW2. EEverything we had was wearing from maximum usage, and those guys got shiny new steel. I believe it was a shot in the foot...
Marshall Plan
From Wikipedia, the free encyclopedia
U.S. Secretary of State George Marshall
The Marshall Plan (from its enactment, officially the European Recovery Program, ERP) was the primary plan of the United States for rebuilding and creating a stronger foundation for the countries of Western Europe, and repelling communism after World War II. The initiative was named for Secretary of State George Marshall and was largely the creation of State Department officials, especially William L. Clayton, George F. Kennan, and Robert Rosemont. George Marshall spoke of the administration’s desire to help European recovery in his address at Harvard University in June 1947.[1]
The reconstruction plan, developed at a meeting of the participating European states, was established on June 5, 1947. It offered the same aid to the USSR and its allies, but they did not accept it.[2][3] The plan was in operation for four years beginning in April 1948. During that period some USD 13 billion in economic and technical assistance were given to help the recovery of the European countries that had joined in the Organization for European Economic Co-operation.[4]
By the time the plan had come to completion, the economy of every participant state, with the exception of Germany, had grown well past pre-war levels. Over the next two decades, many regions of Western Europe would enjoy unprecedented growth and prosperity. The Marshall Plan has also long been seen as one of the first elements of European integration, as it erased tariff trade barriers and set up institutions to coordinate the economy on a continental level.
-http://en.wikipedia.org/wiki/Marshall_Plan
Thanks for posting this article. Very interesting.
All these percentages are basically meaningless. There have been such drastic changes in the denominators (Total World Manufacturing and US GDP) used to generate these percentages that the resulting percentages mean little.
For percentage comparisons to be meaningful, the denominator must have remained fairly consistent as to the ratios of the various elements which make up the denominator. The elements of these denominators has changed drastically over 60 or more years. Ex. the US had its first $100 billion budget under Kennedy. It’s now $3 trillion plus.
It would take a lot more analysis than a simple division of one element of GDP by total GDP to yield meaningful percentages because the denominators have changed so much.
Unions demanding to get what they deserve, usually get what they deserve.
The question not discussed is exactly what products does the US manufacture now? And where are they manufactured?
I own a small manufacturing company. Here are my observations:
1. Regulation is killing our competitiveness. I spend 50% of my time meeting requirements from the Fire Dept., City, State, EPA, OSHA, et al. I have very expensive wallpaper (permits, training certificates, etc.) that covers an entire wall of my main office and costs thousands per year to renew.
2. Young Americans don’t want to do hard, hot, dirty work. My Foreman and I often bet on how many HOURS a new hire will work before quitting. All of my top workers are green card holders....Yes, we did get the BEST workers that Mexico had to offer. Don’t know about the recent immigrants.
3. Young Americans lack skills. I have never hired a high school grad who can convert fractions to decimals or multiply without a calculator. Nor can they spell or follow written process instructions.
4. We survive by our wits. Some of my competitors have massively automated to cut the labor out of the product cost. In my case, we offer very high quality and turn orders around in as little as 30 minutes. They cannot outsource that kind of service to China!
5.56mm
Is that why we ran a $268,000,000,000 trade deficit with China last year, cuz of all our increased domestic output?
Total garbage....
Sure our manufacturing is up from 20 years ago
But it obviously is not enough and not making the right items otherwise we would not be importing so much from China/Asia. Plus tariffs would be a great idea to keep out certain items to protect our manufacturing base
Asian imports plus energy imports have helped ruin the US dollar. We ran up outlandish trade deficits each year due to the Dollars status as the world’s premier reserve currency and the world isn’t going to lend us all that $$$ anymore
I’m amazed how the “free traitor” crowd here still doesn’t connect the dots between borrowing trillions from Chinese and others to buy foreign stuff is unsustainable and hurts the US dollar and our standard of living. How this unsustainability is proven each day like to day as gold and Australian dollar soar same as they did yesterday