35 Ways American Industry is Being Gutted

Did you know that an average of 23 manufacturing facilities were shut down every single day in the United States last year?  As World War II ended, the United States emerged as the greatest industrial power that the world has ever seen.  But now America’s industrial might is being gutted like a fish and both political parties seem totally unconcerned.

Yes, we will always need trading relationships that are fair and balanced with other countries that have economic systems that are similar to our own.  However, the truth is that most of our trading relationships are neither “fair” nor balanced.  For example, China manipulates currency rates so that Chinese products are much cheaper than they should be, they brazenly steal our technology and we let them get away with it, they deeply subsidize their most important industries and they exploit their citizens by allowing them to be paid slave labor wages.

How in the world does that resemble the “free market” at work?  Predatory nations such as China do everything that they can to distort the free market.  So why in the world would any rational economist ever recommend that we should keep trading with other countries that are cheating us blind?  After you read the facts in this article about the gutting of America’s industrial might, hopefully you will get very angry.  We need the American people to start getting very upset about these very important issues.

Both major political parties promised us that globalization would be wonderful for the U.S. economy.  Well, in the first decade of this century less net jobs were created than in any other decade since the Great Depression.

The “free trade” polices of the globalists have been an abysmal failure.  Tens of thousands of factories,

millions of jobs, and hundreds of billions of dollars of our national wealth have gone to countries that engage in predatory trade practices and that exploit slave labor pools.

How in the world are American workers supposed to compete against workers that make less than a dollar an hour (with no benefits) on the other side of the globe?

If you support the version of “free trade” that most of our politicians are promoting, then you are supporting the one world economic system that the global elite are trying to establish.  In this one world economic system, American workers will increasingly be forced to compete for jobs with the cheapest labor on the planet.  This will continue to force the standard of living of American workers way, way down and it will continue to absolutely destroy the middle class.

The following are 35 facts about the gutting of America’s industrial might that should make you very angry….

#1 According to U.S. Representative Betty Sutton, America has lost an average of 15 manufacturing facilities a day over the last 10 years.

#2 Sadly, it looks like this trend is picking up momentum.  During 2010, an average of 23 manufacturing facilities a day were shut down in the United States.

#3 Since 2001, the U.S. has lost a total of more than 56,000 manufacturing facilities.

#4 According to the Economic Policy Institute, the U.S. economy losesapproximately 9,000 jobs for every $1 billion of goods that are imported from overseas.

#5 The United States has had a negative trade balance every single yearsince 1976, and since that time the United States has run a total trade deficit of more than 7.5 trillion dollars with the rest of the world….

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1 Comment

  1. Alan

    November 19, 2011 at 10:03 am

    I do not think the problem is simply the Chinese approach. They learned from others, who still persist with practices designed to maximise profits and avoid paying tax. I guess the Chinese and Indians would be happy if the West paid them for the technology we “stole” in the last few hundred years. Look at the curved top of the wing of airplanes. Most people think the people who patented it actually invented it. They copied it from an Australian who came up with it about 15 years before the Wright Brothers heard of it. I am confident he copied it from the Australian Aboriginals, who designed it thousands of years ago to make the boomerang work.

    The first recorded use of toilet paper was in 320 AD by the Chinese. They must have not realised they should patent it. A very prominent US corporation has tried to patent natural products e.g. plants that the “local” people have been using for medical purposes for thousands of years.

    American corporations have been moving of-shore for decades. Much of their produce has been sold in the US, usually after “third country invoicing” so that they sell ex the country of manufacture for e.g. $6 a pair of shoes, these are retailed in the destination country for about $ 180. I bought shoes in Indonesia. retail, for $ 12 in 1995 that were retailing for $ 180 in Australia. The “third country profit” would have been about $80. Indonesia was not manipulating their currency. The US government subsidised grain production for a great many years to compete on export markets because their cost of production was too high, even though the wages they paid and the cost of fuel was below that for some other countries which were trying to compete in international trade. Europe followed suite with some agricultural products (mainly to keep French growers in business). Saudi Arabia offered to sell wheat to New Zealand for about $ 95 a ton when it cost them almost $ 700 a ton to produce and transport. The minimum wage in the US was held constant for ten years and was about half the rate in most developed countries at the start of that period. As long as it was attractive to illegals it was OK as far as American business was concerned – particularly fruit growers.

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