I’ve seen this type of thing before. We sent all those jobs to China and elsewhere, but it didn’t impact our manufacturing base at all. Thanks for the post.
Its magic I tell ya.
Funny how you never hear that little tidbit from folks like Pat Buchanan and Lou Dobbs.
“I’ve seen this type of thing before. We sent all those jobs to China and elsewhere, but it didn’t impact our manufacturing base at all. Thanks for the post.”
LOL!!!!!
>>>We sent all those jobs to China and elsewhere, but it didn’t impact our manufacturing base at all.
Our “manufacturing base” has shrunk dramatically.
Most of that “base” exists as plants in China—most are owned by others, as we just buy the production now.
The companies that design, finance, and sell the products are based here in the U.S. That’s how they show up in these Fed numbers. Those numerous high-paying jobs inside the plant have been lost (see the graphs, 1.3 % per year). If these manufacturing companies move their offices overseas (visit Halliburton in Dubai), these pretty charts from the Fed will be shown to be false, as the paper-record of profits will move with them.
It’s only a matter of time before design is moved offshore completely (think Japanese car makers using Italian designers). Marketing has already gone global (global advertising companies), so there’s little reason why marketing can’t be offshored completely also.
Only management remains a distinctly American strength. When our managers start to emigrate, we’ll definitely have to man the lifeboats. Or, will it be too late?
Today, as a result of this decline in manufacturing jobs, most high school males not going to college can look forward to a job that will pay for a family, house and car. This will likely lead to some kind of social upheaval here in the U.S.