There is a lot of debate about whether or not manufacturing is coming back to the US. While recently reading a series of very interesting commentaries on the subject, I found some interesting stats:
Manufacturing output in the USA as a percentage of GDP:
2000’s : 39.4%
1990’s : 37.2%
1980’s : 34.9%
Here’s the entire article, fyi:
http://www.caseyresearch.com/displayCdd.php?id=658
While this is going on, it is actually the number of people employed in the manufacturing sector that is shrinking.
So, I am actually wondering what is going on.
Sure, we have exported many of our manufacturing jobs for cheap t-shirts and clothing from China, but clearly we are still making something here in North America, albeit with many fewer employees.
Thanks to the government’s great efforts, the number one priority for corporate America is to NOT employ people.
Meanwhile, the robotics industry reports increase in sales of 27% in 2010. Before long, we will have machines making machines that build machines.
The bigger problem coming up for North American society as I see it is that the youth of today will have a terrible time finding anything to do.
When this sector of society becomes disenfranchised and disillusioned, we will have trouble. This is basically what is happening in the middle east. Most of the people rioting over there were not even born when the current leaders came to power.
Over here, today’s youth were not born when people like Alan Greenspan made terrible decisions that will affect our future for decades to come. Imagine how upset they will be when they cannot find decent jobs, yet are still expected to contribute to the social costs of the generation that screwed them over in the first place.
The government has really painted itself into a corner and has no outs.