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So the government numbers that show manufacturing to be at one of the highest levels, but with less workers means what to you exactly?
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But wait...the liberals told us that tariffs would cause a trade war, the Chinese would stop selling us stuff, prices would skyrocket, the economy would crash, and the sky would fall. They couldn’t have been lying, could they?
ya didn't read it did ya?
You just knee jerked attacked liberals. In fact your post is a great example of Trump supporters and Republicans overall. You guys barrel in attacking everything with bothering to learn about it first.
That the less workers part means those jobs were exported.
Those jobs still exist just not in America.
Like I said propaganda 101.
But our manufacturing numbers are up? How would that work?
That makes no sense to me.
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So the government numbers that show manufacturing to be at one of the highest levels, but with less workers means what to you exactly?
So , highest level ever ? Or highest level in the last 14 years ? I'm thinking the latter.
I find it interesting since 30-40 years ago, most of our items were made here in the US. I can go to my dads house and find old power tools that were made here, go to HD now and try to find some ? TV's and Stereo's used to be made here, not so anymore. Even my Trek mountain bike was once made in the US , not any longer though. (Trek does still manufacture a small percentage of bikes in the US).
Why else would we have a trade deficit ? We are importing more than we are exporting.
While I will agree, manufacturing is currently up, it is know where near what it was 40 plus years ago.
So , highest level ever ? Or highest level in the last 14 years ? I'm thinking the latter.
I find it interesting since 30-40 years ago, most of our items were made here in the US. I can go to my dads house and find old power tools that were made here, go to HD now and try to find some ? TV's and Stereo's used to be made here, not so anymore. Even my Trek mountain bike was once made in the US , not any longer though. (Trek does still manufacture a small percentage of bikes in the US).
Why else would we have a trade deficit ? We are importing more than we are exporting.
While I will agree, manufacturing is currently up, it is know where near what it was 40 plus years ago.
Recently. But the point is: more manufacturing, less people
That points to automation. If someone thinks different, I would like to hear the rationale.
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Recently. But the point is: more manufacturing, less people
That points to automation. If someone thinks different, I would like to hear the rationale.
Did you not read my reply on the China Tool and Die industry ? They currently employ a million workers, and are concerned about a shortage in the upcoming years , of 300k to 500k people. How is that so ? I thought the robots have it all under control ?
How are middle classes developing if everything is automated ?
"Much of the growth in the region is due to China. It is undergoing a re-industrialisation process. As the economy was industrialised in 1978 after decades of central planning, it is upgrading its industry, which has hastened the move out of agriculture. "
Like I stated earlier, the wealth of a nation is due to industry. Sure automation is key now, but that just creates a skilled job that was once unskilled. And yes, there aren't as many unskilled people needed as there once were but a plant can not run without skilled tradespeople, engineers, fabricators, logistics etc.
Quite thinking about the "button pusher" and think bigger then that. Having a plant operating creates a huge footprint of revenue. So having manufacturing plants offshore does nothing but line the pockets of the shareholders and helps the host country.
You say that USA's trade deficit's only 3% of our GDP? If it's 3% of our GDP, it's costing us a great deal more than 3% of USA entire numbers of jobs and payrolls.
No, it isn't.
Your entire trade certificate nonsense is fatally flawed.
Contrary to your false beliefs, $1 of imports does not equal $1 of GDP.
Your claims are only true if producers sell their imported items for less than the price they paid to import the items.
What idiot would import $7,000 of teak wood, pay workers to make tables out of the teak wood, and then sell the tables for $4,000 and take a $3,000 loss?
Maybe that happens in Bizarro World, but not in reality.
Not only can the producer not pay the importer for the wood, he can't pay his workers for their labor, and he can't pay his operating expenses.
A business run like that will be out of business in no time flat.
$7,000 of teak wood will yield 10 teak wood dining tables. He'll sell them for about $1,500 each wholesale for a total of $15,000.
So $7,000 in imports just generated $15,000 in GDP, and it doesn't end there, because the furniture stores will sell them for $3,500 to $4,500 each, generating another $35,000 to $45,000 in GDP.
So $7,000 in imports generates at least $50,000 to $60,000 in GDP in this example, and that doesn't include the GDP generated by the workers when they spend their wages.
A plastic kitchen utensil costs $0.05 from factory floor in China to your local Dollar Tree store, who will sell them for $1 each.
$1 of imports is 20 plastic kitchen utensils sold for $1 each is $20.
In that case, $1 of imports generated $20 in GDP.
I just proved your entire theory is total nonsense.
And contrary to your false claims, imports create jobs that wouldn't otherwise exist in your economy.
So, your trade deficit for July is $50.1 Billion.
A real economist asks how much GDP did that $50.1 Billion generate?
That $50.1 Billion likely generated $429 Billion that you wouldn't be able to generate domestically.
You are always better-off, with or without a trade deficit, because trade always increases your GDP and never decreases it.
US manufacturing output includes the production of electricity, petroleum, natural gas, gasoline, diesel fuel, chemicals, milk, cheese, wheat, corn, beer, soda, mining, etc. This statistic is used to convince the hoi polloi that the USA is still a manufacturing powerhouse (no pun intended). Except for certain products associated with the petroleum industry, the rest represent low employment or low value added production.
The Japanese and Germans know how to produce very high value added products. Example: This Ikegami (Japanese) high def studio TV camera sells for $121,000 new. There have been no studio quality TV cameras made in the USA for over 30 years.
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