Many things will have to occur for this to become true. First and foremost, and end to globalism. If we remain on our current path and continue to outsource manufacturing jobs, there is no way to regain our position as an economic powerhouse.
Did you read the article? See it at RCP.com.
He discusses globalization.
MV
If that's the case, then we should rid ourselves of the pesky brat called the internet first and foremost. Then we can attack globalism with full force.
What we do have is plenty of folks who believe up is down and right is left. We do have huge banks and corporations which are no longer loyal to US, foreigners sit on their boards and determine when to move American jobs to their lands; we Americans now worship the dollar, the only question is how much it costs; not where or how it was made. As if a country that no longer manufactures it's own products is somehow better off; as if buying even military essentials from your future enemies somehow secures us. As if borrowing money to pay for todays needs, at a rate unmatched in history, has no consequences.
"If the American people ever allow the banks to issue the currency, their children will wake up homeless on the continent their forefathers established."
“If we remain on our current path and continue to outsource manufacturing jobs, there is no way to regain our position as an economic powerhouse.”
The idea that we are losing by outsourcing low skill jobs is a myth perpetrated by those who want to save their gravy train of high pay for low skill and effort (unions). It won’t work any more, that’s over.
Yes, we have challenges. We must improve our education system and convince people to learn higher skills than assemble line work that properly trained monkeys can perform. Those empty houses in the rust belt are the result of people moving away to places where the jobs exist. Those states have not served their people well, and are losing population and economic growth as a result. These areas will revitalize if and when the local politicians start working on education, tax incentives, and technical training. Those actions combined with inexpensive real estate can turn things around in the rust belt.
The first generation to meet such challenges usually resists, and loses. The next generation says the hell with that, I’m going to do whatever needed to improve my skills and be successful. It just takes time. And we are faster than other countries at adapting to change due to our economic system.
Manufacturing productivity is increasing so fast anyway, that jobs would be lost regardless of China. In fact, China has lost manufacturing jobs in the last 5 years. US Exports are booming at double digit rates (for the last 5-6 years in a row). The Trade deficit as a % of gdp is plummetting. If the dollar slide continues or even stays the same, I would expect it to continue.