Since 2001, The U.S. Has Lost 42,400 Factories, 90,000 More Set to Close

Discussion in 'Economy' started by Neubarth, Mar 4, 2010.

  1. Neubarth
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    Neubarth At the Ballpark July 30th

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    Since 2001, The U.S. Has Lost 42,400 Factories, 90,000 More Set to Close
    Something has gone radically wrong with the American economy. A once-robust system of "traditional engineering" -- the invention, design, and manufacture of products -- has been replaced by financial engineering. Without a vibrant manufacturing sector, Wall Street created money it did not have and Americans spent money they did not have.

    Americans stopped making the products they continued to buy: clothing, computers, consumer electronics, flat-screen TVs, household items, and millions of automobiles.

    America's economic elite has long argued that the country does not need an industrial base. The economies in states such as California and Michigan that have lost their industrial base, however, belie that claim. Without an industrial base, an increase in consumer spending, which pulled the country out of past recessions, will not put Americans back to work. Without an industrial base, the nation's trade deficit will continue to grow. Without an industrial base, there will be no economic ladder for a generation of immigrants, stranded in low-paying service-sector jobs. Without an industrial base, the United States will be increasingly dependent on foreign manufacturers even for its key military technology.

    For American manufacturers, the bad years didn't begin with the banking crisis of 2008. Indeed, the U.S. manufacturing sector never emerged from the 2001 recession, which coincided with China's entry into the World Trade Organization. Since 2001, the country has lost 42,400 factories, including 36 percent of factories that employ more than 1,000 workers (which declined from 1,479 to 947), and 38 percent of factories that employ between 500 and 999 employees (from 3,198 to 1,972). An additional 90,000 manufacturing companies are now at risk of going out of business.
    The Plight of American Manufacturing | The American Prospect
     
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  2. California Girl
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    California Girl BANNED

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    And yet we continue to ignore the coming second wave of the tsunami.
     
  3. Diuretic
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    Diuretic Permanently confused

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    When it hits the fan sometimes government IS the answer.
     
  4. Neubarth
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    Neubarth At the Ballpark July 30th

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    Anything that works to put people back to work in lasting jobs.
     
  5. uscitizen
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    uscitizen Senior Member

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    We have the market, it is all we need.
    Everyone just needs to play the market, No one really needs to actually produce anything, that is for poor countries to do.
     
    Last edited: Mar 4, 2010
  6. editec
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    editec Mr. Forgot-it-All

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    FREE TRADE is anything but free, folks.

    We're in the depression becuase for decades we deluded ourselves (well some of us did, I mean) into thinking that the factory workers didn't matter.

    Well guess what?

    They did.
     
  7. uscitizen
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    uscitizen Senior Member

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    Good programming.
    And by which side? Lets see ...which side likes factory workers and which side likes free trade?

    And of course media pundits had nothing to do with this?
     
  8. Mr Clean
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    Mr Clean Gold Member

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    How many more posts until someone steps up to blame American workers for making too much money?
     
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  9. uscitizen
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    uscitizen Senior Member

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    It will take a few years but we are solvinig that little problem.
     
  10. editec
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    editec Mr. Forgot-it-All

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    Which side did this, you ask?

    The INside did it.

    The INsides are the only people capable of making policies.

    You and me?

    Well I'm not sure about you, but I strongly suspect, no matter what your political persuasion is, you and I are both OUTSIDERS.
     
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