“You can’t even START to bring back American Manufacturing, until you begin to address the reasons that it was destroyed in the first place.”
Follow the money if you want to know why American manufacturing was sent overseas. Too big to fail Wall Street banks like Goldman Sachs had much to do with the tariff reductions and other market opening policies of the government in the 1990’s and 2000’s. They profited greatly selling off US assets, speculating in the stocks of companies exiting US manufacturing and transferring investment capital to China and other third world countries.
Since the early days of the republic the New York banking syndicate has controlled the allocation of capital in this nation, the strength of the currency, and many of the politicians who do their bidding. Real financial reform would break up the too big to fail banks and rely on regional and local banks to allocate capital. Regional and local banks will be focused on domestic investment, not international speculation.
Banks in the 1990’s? 2000’s? REALLY?
Where were you in the 70’s when Steel plants all over the country were closing due to the Clean Air Act?
When the small auto plants in small towns across America were closed and sent to Mexico, because the Clean Air Act, and the 1976 UAW Strike result made those plants unable to produce a profit, or assure an uninterrupted stream of parts for the assembly lines?
Time after time, after time, government regulation, Union activism, and ever-increasing taxes have run American Manufacturing out.
And it’s not like the CEO’s haven’t been telling you why, for almost 4 decades now. The CEO of Emerson Electric, which bought RCA, was called largely ignored when he said “If the US is no longer interested in Jobs, I’ll just move them elsewhere” in 1998. GUESS WHAT? HE DID. Most went to Brazil and Malaysia. Around 20,000 of them.
Another Example: The Mercury-filled lightbulbs law cost 35,000 mostly union manufacturing jobs ALONE, and has created a potential civil liability tail that is HUGE. That’s why we went from making them domestically, to importing most lightbulbs from Mexico and China now.
Yeah, we need to bring manufacturing back. But we have to restore the conditions to make it work, FIRST. Grand pronouncements mean nothing without action.
Americans tend not to like working at manufacturing jobs.
Its repetitious and boring, and we don’t do it well.
Even in China they hate it, but they have no choice if they wish to eat.