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The US does not make a lot of consumer goods nowadays. Been to Walmart lately, OG? Try to find an American made non-food item. Truth is that we've forgotten how to manufacture many items. So, imports are a necessity. If not from China then from some other countries. This will continue until the other countries wise up and stop accepting our fiat money.
Or maybe we do and realize wealth is created by industry.
The US does not make a lot of consumer goods nowadays. Been to Walmart lately, OG?
Nope.
You?
Quote:
Try to find an American made non-food item. Truth is that we've forgotten how to manufacture many items. So, imports are a necessity. If not from China then from some other countries. This will continue until the other countries wise up and stop accepting our fiat money.
America still leads the world in manufacturing, just not in consumer items.
Wells, to the extent that our states' education and training systems are inferior, their products, (i.e. their students will be inferior. Your statement is nonsensical bigotry. You did correctly state just more spending is notthe solution. Our state governments, local school boards, and we parents have failed to do our jobs.
I don't know if the numbers of our unfilled jobs are in the millions, but our inability to fill them are due to the failures of our nation's education and training systems. The states have the jurisdiction and the power to improve them. They're failing to do so.
The extent USA's education and training systems' improvements, would be reflected by no lesser improvement of our economic and social well-being.
That’s the problem with education systems that are run by (and funded by) local communities. Areas of the country that hate taxes and/or are dominated by fundamentalist Christianity will obviously not have adequate public schools.
America is the most religious of the first-world nations. That has consequences. A nation with a Creation Museum isn’t going to be very good at biotech.
The idea that protectionist policies work is one of the biggest lies of modern politics. It got sold by the Republican Party and many unionist and anti free trade voters backed Trump.
Im not a fan of Obama, but one thing Obama did right was promoting free trade. US exports exploded during Obamas presidency despite many other anti business policies. At the same time, there are some labor intensive industries that arent going to stay here. Making t shirts and hats isnt likely going to come back until its so automated its labor need is low.
A country with more imports then exports isnt always bad, and I see that as a huge lie being sold to us. Countries with a high PPP will almost always import more then they export. It shows a large portion of the economy is in something other then manufacturing, such as finance, service, health, etc.
As manufacturing automates, much will return to the US naturally. High labor rates wont matter as much because the work is not longer labor intensive.
It sounds like Trump supporters define winning as watching the world learn to do business without the U.S. According to Trump, we would be better off if we didn't trade with anyone because then there would be no trade deficit. It's the looniest logic I've ever heard but Trump has never convinced me he is more than a selfish egotistical son of a wealthy man with no honesty or integrity but a willingness to do anything if it will benefit him personally.
Let's take a look at that for a minute. I'm not denying what you say isn't true, but what would benefit him personally? Do you think for a minute that he doesn't want to go down as the president who made good deals? I think he does. So what benefits him at the moment benefits America.
I think as a nation we lack patience. I won't judge these deals until he's done with his presidency. There is no way to know how these deals will turn out in the end yet. Yes, they might fail, but they might not. It's early in the game.
We really can't tell right now. Hopefully, it's a win for us, of course. Who doesn't hope things are better for the country they live in?
The US is primarily a service based economy. How many people work in health care, finance, IT, education, retail etc.?
1950 and 1960s America doesn't exist anymore, and people really need to get it through their skull that it is never coming back. The US is an advanced economy and advanced economies almost always transition to serviced based. Of course we will run up trade deficits when we can simply buy what we need from abroad. There are pros and cons of this model. People with low skills, low education, or who have skills that will be automated will be left out in the dust. But our economy isn't going to change for them. The industrial era of America has been over for 50 years. Move on already.
This sums up China and the U.S. relationship pretty well. Trump will definitely change things, which we've all been crying about changing for years on both sides of the political aisle. At least he's attempting the issues we've ignored for years. But, of course, there is a risk, which is why they have been left to fester.
"Trump thinks he has won a lot based on some very positive figures in the US, including 4.1% growth in gross domestic product in the second quarter of this year, the best showing since 2014
Of course, China will try to strengthen its alliances too. In June, India and Pakistan joined the Shanghai Cooperation Organization as full members for the first time at the SCO summit in Qingdao, China. This month, China just hosted the Forum on China-Africa Cooperation (FOCAC) Summit in Beijing again.
But even if the world’s two leading powers cannot solve the trade war nicely, do not worry, as Deng Xiaoping, the chief architect of modern China, wisely predicted that “the China-US relationship can never be too good or too bad.” US-China trade war: a game changer | Asia Times
We do now. Stop looking back only 15-20 years... Your name is Old Gringo, I'm sure you are old enough to remember before then. Manufacturing is definitely on an upswing, and hopefully remains that way.
The U.S. trade deficit widened for the second straight month in July, reaching the highest level since February, as imports hit an all-time high. The deficits in goods with China and the European Union set records.
Oh great, so tariffs don't hurt trade. So all those predictions of doom and gloom were fake.
The US is primarily a service based economy. How many people work in health care, finance, IT, education, retail etc.?
1950 and 1960s America doesn't exist anymore, and people really need to get it through their skull that it is never coming back. The US is an advanced economy and advanced economies almost always transition to serviced based. Of course we will run up trade deficits when we can simply buy what we need from abroad. There are pros and cons of this model. People with low skills, low education, or who have skills that will be automated will be left out in the dust. But our economy isn't going to change for them. The industrial era of America has been over for 50 years. Move on already.
In 2013, the manufacturing sector employed 12 million workers, but generated an additional 17.1 million indirect jobs. It has the largest multiplier of any economic sector: each dollar’s worth of manufactured goods generates $1.40 in output from other sectors of the economy. Perhaps most important may be the higher wages it provides for blue-collar workers. According to the latest BLS data, goods-producing industries pays $56,799 a year on average during the latest period in our rankings—much higher than other working-class fields like health care and education (averaging $45,676 annually) and leisure and hospitality ($20,879).https://www.forbes.com/sites/joelkot.../#5d8f3fbe53b3
I just don't see it.
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