fwiw, there are more manufacturing employees now than during the recession:
fwiw, there are more manufacturing employees now than during the recession:
So they’re including “flipping burgers” and “bagging fries” as “manufacturing jobs now, huh?
hahahahaha!
Trade helps the whole economy in the aggregate, but the benefits are very spread out across large numbers of people, while those who are specifically and badly hurt are easily forgotten, and are making their anger felt politically this season with leadership from Trump and Sanders.
The number of jobs may have increased, as the country has grown. But what percentage of jobs in America are in ma ufacturing vs. 20 and 40 years ago?
It's a beautiful new day campers and stock indexes were mixed in lower volume yesterday and futures traders today see more of the same (-0.03%) for stocks and metals are seen +0.39% ---meanwhile gold and silver are powering up to $1,358..85 and $20.76!
Flood warning from the bean-counters:
8:30 AM Personal Income
8:30 AM Personal Spending
8:30 AM Core PCE Prices
8:30 AM PCE Prices
2:00 PM Auto Sales
2:00 PM Truck Sales
From today's IBD website:
8/01/2016 The most absurd plank to appear in either party's platform this year is the Democrats' call to "raise the federal minimum wage to $15 an hour over time and index... More
5:32 PM ET Oil fell below $40 a barrel in New York for the first time since April, falling into a bear market on concern that the global supply glut will expand. Saudi... More
2:05 PM ET This economy may be perilously close to recession. That was the message of the second-quarter real GDP report and its meager 1.2% growth rate. Over the past year, real... More
5:25 PM ET New revelations put Hillary Clinton's actions while in office under deep suspicion -- including her enabling a "reset" with Russia that seems to have led it to expand its power. More
6:17 PM ET Stocks ended mixed Monday in another orderly session that saw biotech stocks prop up the Nasdaq and oil stocks weigh on the S&P 500. More
The fact that technology has made manufacturing more productive is nothing new. We have had ongoing technology improvements in manufacturing productivity ever since we started making muskets in a factory with interchangeable parts in the 18th Century.
What is new is the closing since NAFTA and other global trade agreements of tens of thousands of factories in the United States and the opening of factories making those same goods in Third World labor countries like Mexico and China and yet being granted access to the US market.
The movement of much of the US industrial base to other countries under global trade agreements is not because of advances in technology.
What we are seeing with China and Mexico is not natural comparative advantage. It is purely labor and regulatory arbitrage under global trade agreements and the reason is it happening is because the US government has become the agent of the global-redistribution Left and of transnational businesses, and is no longer the agent of the American people.
Well, since the paper mills and garment factories closed around here, there are lots of new jobs.
Heroin distribution and meth cooking are growing fast. They always need volunteers at the suicide hotline. ER visits are up 50%.
I suppose that's one way to look at things, sure.
Sorry. America has given “free trade” a thirty year test drive. It’s NO SALE!
So many people talk about “free trade” as if it were a monolithic, never-to-be-questioned “benefit”.
These people need to consider the TERMS of so-called “free trade”...
It should be obvious that the prices of all goods are NOT set through haggling in the “marketplace”. And it should be obvious that some parties have more market power than others when setting the TERMS of trade.
And so it should be obvious that some “trades” are more “free” than others.
The devil is always in the details — for those smart enough to look for those details.
Left is mobilizing all their forces to promote the commie agenda in support of Hillary.
Go back befor booze....this graph is misleading
None of this BS changes the fact that thousands of factories and millions of US manufacturing jobs have been moved to cheap labor nations since NAFTA and before, and was accelerated by China’s being granted MFN status and joining the WTO.
And none of that BS changes the reality that over those same decades of deindustrialization of much of the US, the cost of our means tested poverty programs has mushroomed as have our budget deficits and national debt.
Show us a worthwhile stat if you can.
1. What percentage of manufactured products consumed in the US were produced in the US, now and ten, twenty and thirty years ago.
2. What is the total value of all manufactured products consumed in the US now and ten, twenty and thirty years ago. There are far more manufactured products now that years ago,and that alone makes your stats pretty meaningless. What were cell sales in 1980?
3. And then there would be adjustments for population growth over the past thirty years.
These stats people want to throw around that only address totals from year to year are practically meaningless as the makeup of all the manufactured products produced and consumed changes substantially over the years, as does the number of consumers purchasing those products.
I want to produce a 3D printer that can do plastic and metal parts. Then combine it with a robot arm.
Just download the design plans/programs for whatever you want to make from the internet and set your little makerbot to work.
It’ll mess up manufacturing all over the world but we’ll all be richer for it.
You can't put forced enormous environmental, other regulatory, and labor costs on US based companies and then allow large MNCs to skirt every last one of them by creating those products in China, Vietnam, etc and then charge no tax to bring those products back into the US. It puts US based manufacturing at a massive disadvantage.
While I am very happy to scale back on all those 3 things, until that happens, we should at the very least charge import tariffs on those type countries equal to the forced labor, environmental, and regulator costs PLUS any currency manipulation costs compared to the country we are trading with - and allow a 10% room for error. That would mean zero tariffs with countries like Canada, Europe, Australia, Japan, etc but large tariffs China, Vietnam, etc.
So called "free trade" to be fair, even despite the handicap on US production highlighted above, is probably good for the US economy overall but the benefits flow basically to execs and shareholders (which is terrifically good for me with my income in the top 2% at a young age). That's while real income for the top 1, 5, and 10% has skyrocketed in the last 30 years but for the middle 50% has stayed flat despite overall GDP skyrocketing. This problem is only going to get worse - and short of a universal income - I don't see how this doesn't lead to massive unrest over time if we don't put up tariffs on these third world countries.
I think the problem a lot of large company free traders don't realize that they have an IQ of 120+ and are setup to succeed in this type of environment. It doesn't work well for the IQs of the 70-110 that make up 50% of the population.
1. Why does your graph only go back to 2010?
2. Manufacturing seems to be trending down again.
Very interesting segment on CBS Sunday Morning a couple weeks ago. Chinese Harley Biker Club.
Accidentally, they let a person say, on camera, that the Chinese Harley Davidson club was somewhat elite, because the Chinese tariff on the Harley “triples its price” to Chinese buyers. That plus transportation pushed the cost to $100,000 per bike.
I wonder how many Harleys would be sold in China if the tariff was zero?