Nothing like moving America's manufacturing sector wholesale overseas. Overseas, workers don't pay US taxes, don't but US products, don't use American services. 
Nothing like moving America's manufacturing sector wholesale overseas. Overseas, workers don't pay US taxes, don't but US products, don't use American services.
This is really critical. The pseudo-Free Traders have yet to address the negative fall-out of losing the 'multiplier-effect' these high-capital-investment industries have. And hence, the reverse, when they leave, we destroy much more economic infrastructure than they have a clue about. Switching to white collar jobs is no cure, (if it were even remotely possible) as it has a traditionally very low multiplier. And anyways, now the white collar jobs can be outsourced too.
Alan Greenspan represents the worst of the arrogants in this regard, as he truly is oblivious to the character of the economic activities going on. Of course, Alan Greenspan was the one who said, 'Whether electronics or potato chips' it makes no difference.' Or something on that order. How wrong he is. Hence the 'jobless recovery'. And pretty soon we are going to see that it in fact is a 'recovery-less recovery', and other gobbledy-gook. The euphemisms also show that they don't really understand that the purpose of their profession and positions is to enhance the U.S. quality of life...and ensure job growth and betterment. Instead, they seem to care only about macro-economic 'activity' and appear if not apathetic, outright hostile to the concerns of the dislocated workers, and unfair-trade-damaged economic sectors.