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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.
Here is some updated data.
For every $1, it generates $1.89 in other economic sectors. Also, the average wage is up to $84,800 from $56,799.
As far as the service based economy , to the poster that made that comment, please elaborate ? Isn't every career pretty much service based ? I'm a designer in the automotive industry so, my service is to provide a product to consumers, for instance.
A machinists provides a service to whomever purchases the product they produce and so on....
Remaining that way may prove problematic with tRump's trade wars heating up. The economy looks good right now and I have family members dependent on it sustaining the recent gains.
So you're happy with the status quo where Americans get screwed. Interesting.
We needed a trade war with China. But Trump started trade wars with the EU, Canada, and Asian countries. Now all those countries are making trade deals without America, and American businesses have already lost over 500 million international customers. https://www.reuters.com/article/us-t...-idUSKCN1GK0JM
Because of Trumps trade policies American businesses have lost over 500 million international customers, our trade enemy China is now standing on the international stage (where America used to stand), and 2.6 million American jobs are in danger of being lost.
Could you please explain how Trump's trade policies are going to "stop Americans from getting screwed"? (We only needed a trade war with China, we did not need a trade war with every industrialized country on the planet.)
Perhaps we should all learn to do without cheap overseas crap.
Well it's affecting home building prices, so you can add that to your list of what people should do without.
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We created this mess for ourselves by turning into a nation of buyers rather than producers. We reap what we sow.
This , in a nutshell. And there are many that want us to become the producers again, even though it will hurt in the short time, and those that just go with the flow...
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?
I am sorry but that is just wrong.
When you see a small portion of your house on fire you don't say "well lets wait and see this fire thing might work out". No. Instead you alert the fire department , tackle it yourself or both.
Trump's "deals" show no sign of a plan or sign they are doing anything but hurting us LONGER TERM.
By illegally breaking deals Trump has carelessly spent goodwill and trust we built up over many decades. WORSE still by illegally breaking deals Trump has cleared the path for other nations to do exactly the same.
When we fail to adhere to the terms of treaties, how can we tell China, Russia or any other nation they must stay compliant with treaties.
Now Russia can openly say "well the US failed to maintain it's treaty with Iran, so why should we have too maintain our treaty with country XYZ."
Trump is not up to it. He has no hidden deeper plan, they never do. I mean NEVER, ever ever.
I am a mere 50+ years old but i have been an investor for entire adult life. One thing i learned is that when people in power are appearing to be making a huge mistake they are always making a huge mistake. I have seen billionaire CEO's make huge mistakes and listened and watched as talking heads said. "well don't count him /her out yet, they likely have a bigger plan"... the thing is they never do. they are simply so sure of themselves that they filter out the shareholders and board members telling them "this is a huge mistake".
If you have not yet learned that i suggest you try. Trump is NOT working at some higher level, he might think he is, you might think he might be. But he is not. There is no hidden plan, there is not subtle agenda, this is not a means to and end. It is a man using bluster, threats and rhetoric in place of long term planning and careful negotiation.
Leaving TPP is the living proof of that. It was a long term plan to contain China, and to do it with a dozen nation allies...... instead Trump enters a trade war that will do nothing but hasten China's rise to power.
(just to head off the "hillary hillary hillary " people. NO! she was not really going to leave TPP, she was going to do some face facing fake changes to TPP and do it anyway. She was lying because it is too complex to explain to lazy voters...)
And yet consumer and corporate confidence is at a high, Unemployment at its lowest 17 years, the market is doing unexpectedly well (remember Mark Cuban said the world was basically going to end, if Trump got elected), home prices rising. Imagine that.
Go ahead and say it though, it is all due to Obama.... yet here we are 595 days in and the sky still hasn't come crashing down.
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