Here's the graphic that came w/ the piece--
-showing how an economy dominated by manufacturing is one in squallor. Like the fact that half the Chinese workforce still scratches for food out of the ground.
Too bad the NYT perverts this reality into their left-wing New York Values of big time government spending; the writher tries to suggest that the agricultural to factory move was thanks to gov't spending so somehow we need more spending now to move into services.
Moron.
The left is insane. They want to bring in more and more illegal aliens while at the same time they force jobs to go overseas by making it impossible for local businesses to operate. So they go straight onto welfare after knocking out a few anchor kids, and the whole economy sinks lower. Trump is the only person running in the who even wants to fix it.
Well, yes. It’s beside the point however. It’s now very expensive to make things in China, which is why manufacturing is starting to come back to the U.S., for example our good old Lincoln logs are now made here again. Yes, some will go to places like Vietnam, etc, and good luck with that.
Yes, manufacturing has become more mechanized but they make it sound like there’s going to be a small army of programmers in every factory. It just isn’t true. There won’t even be one.
Where did this come from? What does it have to do with manufacturing? Eduardo wants the world to know how silly walls are ....
Soulless cowards who don't deserve to be called American. If they had been in charge, we'd still be huddled in isolated enclaves on the eastern seaboard shipping all our wealth to England.
We don't ship much to England these days. But these losers are still huddled in their enclaves, crying in their chablis.
So let’s speed up the replacement of human beings by forcing human beings too expensive to employ (higher minimum wage, required healthcare coverage, etc). Yeah, that’s the ticket!
A very happy FOMC Day morning to all --everyone held tight yesterday w/ no change in stock indexes and gold (though silver's up to $17.32). Here's the plan today--
7:00 AM MBA Mortgage Index
10:00 AM Pending Home Sales
10:30 AM Crude Inventories
2:00 PM FOMC Rate Decision
--and futures traders are now seeing flat metals and mixed stocks. News over breakfast:
The Madness of Negative Interest Rates - Richard Rahn, Washington Times
Uncertainty Is A Fact Of Life, Get Used to It - Caroline Baum, MarketWatch
The Horror of Donald Trump Retrieving 'Lost Jobs' - John Tamny, RCM
Internet of Things Will Dramatically Boost Economy - David Drake, RCM
Sanders' Right Wing Arguments Against Soda Taxes - Jonathan Chait, NY
The Shockingly High Price of Federal Regulations - Editorial, Investor's
Oil's 'Magic Recovery' Number is $50/Barrel - David Wethe, Bloomberg
Saudi Prince Vows Thatcherite Revolution - Ambrose Evans-Pritchard, DT
Why Janet Yellen Could Blindside the Markets - Chris Matthews, Fortune
What really powered the world economy for a hundred years was petroleum. Eventually, there WILL be peak oil. One can debate whether the peak will be in 10 years, 20 years, or 50 years. But it will happen.
Simply put, in terms of energy density, applications (transportation, power, fertilizer, pharmaceuticals, asphalt, etc), portability and scalability (cars, motorcycles, power plants), petroleum is unrivaled. Not nuclear (Fukishima, Chernobyl anyone?), not solar (EROI anyone?).
We aren’t going to find magical dilithium crystals to power everything, because they don’t exist, anymore than leprechauns riding unicorns that poop rainbows into pots of gold exist.
America produces so much food, because it MANUFACTURES food by pumping massive amounts of fossil fuel products into the soil. Factor in the illegal immigrants picking fruit, the people making fertilizer, the trucks transporting food, etc, it is a lot more than half a percent working in agriculture.
It is like saying the Earth’s space programs have only has employed a few hundred astronauts.
These experts (sic) miss the macro trend tho. Manufacturing paradigm will change from large central urban based to smaller rural and dispersed base.
Robotics, automation driver-less trucks, local renewable power etc tend to point to smaller manufacturing/farming ops away from the increasingly dangerous and costly cities. Of course this would also involve elimination of much of the ruling class’s self-protecting regulatory systems creating free-market-killing barriers to entry.
When the prices drop to price of a luxury car to make a small manufacturing operation for widgets in your own neighborhood with little or no staff and deliveries by robotic means the base factors the article relies on go out the window.
Think a thousand widget makers all over the country competing on quality and price with relatively low start up and distribution costs.
Eduardo wrote this article. It is from a foreign, globalist point of view.
Let's look at the reality of the situation. Right now the US is one of the greatest countries in terms of bio-medical research and advances in software. If the Slimes is correct and robotics/automation (the differences is the volume of similar operations) will replace many “manufacturing jobs” then what this country needs to do is to manufacture the things that do the manufacturing robotically. We also need to manufacture the medical devices and medicines that the world will need. That will give us manufacturing jobs that will be in demand across all countries.
We can't go back to car, railroad and steel manufacturing as the basis of our manufacturing jobs, but we can look to advanced technology, whether military, aerospace, medical, or computer/robotic as a huge source of future jobs. We just need to modify government policies to encourage the R&D and necessary manufacturing investment. But the NYSlimes doesn't like such changes in tax policy.
Years ago, a rare individual, an “economics historian”, made an astounding discovery unlike any other known principle in economics. He refused to believe it, and spent the next 20 years trying to prove it wrong, but he was unable to.
The discovery was of a 100% correlation in economics, that applied throughout human history, location indifferent.
When he finally published his findings, his book was mostly references and footnotes, and so arcane in character that only serious economists could wade through it. Worth the effort, because he figured it would upend both economics and history.
Simply put, he had discovered a 100% correlation between mining and economic prosperity in a nation, kingdom, empire, any other form of government, or economic block.
That is, as a nation (etc.) mines, it prospers. The more it mines, the more it prospers. If it mines less, its economy is in decline, and when it discontinues mining *for any reason*, the nation nears collapse or collapses.
People are attacking Trump because of his jobs language/tariff talk. If you look at his tax reform, and if the his business tax proposals do pass, that will motivate companies to remain in the US and tariffs would therefore would not be proposed.
Now for Trump's trade deals, I have no clue what would happen. For me personally, I do not trust the Yahoos in DC to negotiate a deal that would be “fair” not to mention “free” (humor) to the people of the US? Why, because Obama is a rabid radical ideologue and he has placed many rabid left wingers in the government.
The trouble with these is that the don't create wealth. Education makes people employable. Healthcare restores people to health so they can work. However, neither of them adds to the total wealth available. On the contrary, they require wealth to be created elsewhere to pay teachers and doctors. As for clean energy, without subsidies, it can't exist. It, too, consumes wealth that must be created elsewhere to pay the subsidies.
Services may be an answer, but they must be worth enough to the wealth-creators that they are willing to pay for them.
Comparing agriculture to manufacturing is stupid.
He pointed out that one man with a bulldozer could do the job in a couple of days, to which his Chinese guide replied "Yes, but we could not cope with the resulting unemployment."
Friedman's response: "Well, if it's employment you want to guarantee, then throw away the shovels and give them all spoons."
We seem to have more and more Americans who are eager to set up Spoon Brigades.