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Wednesday, September 29, 2010

19 Facts About The Deindustrialization Of America That Will Blow Your Mind

EDITOR's NOTE:It's just sad how the rich in America chose to destroy their own country so long they can remain rich and powerful.

19 Facts About The Deindustrialization Of America That Will Blow Your Mind


The United States is rapidly becoming the very first "post-industrial" nation on the globe. All great economic empires eventually become fat and lazy and squander the great wealth that their forefathers have left them, but the pace at which America is accomplishing this is absolutely amazing. It was America that was at the forefront of the industrial revolution. It was America that showed the world how to mass produce everything from automobiles to televisions to airplanes. It was the great American manufacturing base that crushed Germany and Japan in World War II. But now we are witnessing the deindustrialization of America.

Tens of thousands of factories have left the United States in the past decade alone. Millions upon millions of manufacturing jobs have been lost in the same time period. The United States has become a nation that consumes everything in sight and yet produces increasingly little. Do you know what our biggest export is today? Waste paper. Yes, trash is the number one thing that we ship out to the rest of the world as we voraciously blow our money on whatever the rest of the world wants to sell to us. The United States has become bloated and spoiled and our economy is now just a shadow of what it once was.

Once upon a time America could literally outproduce the rest of the world combined. Today that is no longer true, but Americans sure do consume more than anyone else in the world. If the deindustrialization of America continues at this current pace, what possible kind of a future are we going to be leaving to our children?

Any great nation throughout history has been great at making things. So if the United States continues to allow its manufacturing base to erode at a staggering pace how in the world can the U.S. continue to consider itself to be a great nation? We have created the biggest debt bubble in the history of the world in an effort to maintain a very high standard of living, but the current state of affairs is not anywhere close to sustainable. Every single month America does into more debt and every single month America gets poorer.

So what happens when the debt bubble pops?

The deindustrialization of the United States should be a top concern for every man, woman and child in the country. But sadly, most Americans do not have any idea what is going on around them.

For people like that, take this article and print it out and hand it to them. Perhaps what they will read below will shock them badly enough to awaken them from their slumber.

The following are 19 facts about the deindustrialization of America that will blow your mind....

#1 The United States has lost approximately 42,400 factories since 2001. About 75 percent of those factories employed over 500 people when they were still in operation.

#2 Dell Inc., one of America’s largest manufacturers of computers, has announced plans to dramatically expand its operations in China with an investment of over $100 billion over the next decade.

#3 Dell has announced that it will be closing its last large U.S. manufacturing facility in Winston-Salem, North Carolina in November. Approximately 900 jobs will be lost.

#4 In 2008, 1.2 billion cellphones were sold worldwide. So how many of them were manufactured inside the United States? Zero.

#5 According to a new study conducted by the Economic Policy Institute, if the U.S. trade deficit with China continues to increase at its current rate, the U.S. economy will lose over half a million jobs this year alone.

#6 As of the end of July, the U.S. trade deficit with China had risen 18 percent compared to the same time period a year ago.

#7 The United States has lost a total of about 5.5 million manufacturing jobs since October 2000.

#8 According to Tax Notes, between 1999 and 2008 employment at the foreign affiliates of U.S. parent companies increased an astounding 30 percent to 10.1 million. During that exact same time period, U.S. employment at American multinational corporations declined 8 percent to 21.1 million.

#9 In 1959, manufacturing represented 28 percent of U.S. economic output. In 2008, it represented 11.5 percent.

#10 Ford Motor Company recently announced the closure of a factory that produces the Ford Ranger in St. Paul, Minnesota. Approximately 750 good paying middle class jobs are going to be lost because making Ford Rangers in Minnesota does not fit in with Ford's new "global" manufacturing strategy.

#11 As of the end of 2009, less than 12 million Americans worked in manufacturing. The last time less than 12 million Americans were employed in manufacturing was in 1941.

#12 In the United States today, consumption accounts for 70 percent of GDP. Of this 70 percent, over half is spent on services.

#13 The United States has lost a whopping 32 percent of its manufacturing jobs since the year 2000.

#14 In 2001, the United States ranked fourth in the world in per capita broadband Internet use. Today it ranks 15th.

#15 Manufacturing employment in the U.S. computer industry is actually lower in 2010 than it was in 1975.

#16 Printed circuit boards are used in tens of thousands of different products. Asia now produces 84 percent of them worldwide.

#17 The United States spends approximately $3.90 on Chinese goods for every $1 that the Chinese spend on goods from the United States.

#18 One prominent economist is projecting that the Chinese economy will be three times larger than the U.S. economy by the year 2040.

#19 The U.S. Census Bureau says that 43.6 million Americans are now living in poverty and according to them that is the highest number of poor Americans in the 51 years that records have been kept.

So how many tens of thousands more factories do we need to lose before we do something about it?

How many millions more Americans are going to become unemployed before we all admit that we have a very, very serious problem on our hands?

How many more trillions of dollars are going to leave the country before we realize that we are losing wealth at a pace that is killing our economy?

How many once great manufacturing cities are going to become rotting war zones like Detroit before we understand that we are committing national economic suicide?

The deindustrialization of America is a national crisis. It needs to be treated like one.

If you disagree with this article, I have a direct challenge for you. If anyone can explain how a deindustrialized America has any kind of viable economic future, please do so below in the comments section.

America is in deep, deep trouble folks. It is time to wake up.

15 comments:

Anonymous said...

thumbs up bro!!and dats why pazuzu obama the right wingers,the neo cons,and mahachoots favourite econmist Paul krugman r practically urging the pazuzu to attack Iran,becos,by perang,they think,people will start to buy dollar,n the military industrial complex boleh cari trillions of ontong,people will get jobs, etc2 ..at this moment unemployment in USA is over 20%(Detroit alone has unemplyment over 25%),12% r homeless,no cash money..so,credit card is being stretched to its limit..home sales r down n out..USA is practically a zomby state..same thing goes to UK n the European nations..yesterday,there was a big rally in brusselss?organised by unions against austerity measures..the sad thing is,our country has also been f*ked by anglo tempatans.....due to kebodohan,kechootian,ke poundekan of our local anglo whores,this country is in serius danger econimically..perhaps this is the reason why Pakatan Rakyat has come come out the agenda "SELAMATKAN MALAYSIA"

Anonymous said...

debt 2 gnp ration of our local anglo pundek's favourite country aka USA is over 500% bro..$80 trillion ootang..gerenti usa tak boleh bayar!..everday terpaksa pinjam frm china(china pulak ada cash reserve $15trillion!!!woohoo!!!!)..bernanke n the bankers r trying their very best to cover up their penury/hopeless conditions..the fed has printed trillions of $$ n astonishingly,instead of rescuing the industrial sector,the public,most of the bail out money has gone to rescue hedge funds that were responsble for all the mayhems!!..by recycling toxic financial intruments,by leveraging,they think they can continue conning the world(malaysia of course dah lama jadi amerika's hamba)..nasib baik certain countries cannot be fooled lah..they have the resources n the skill to do what needs to be done lah..hehe..n they r executing "somethinG" secra senyap2 with millitary type precision to terajang usa,n anglo bankrupt nations..tak perlu fire a single peluru to kasi musnah certain nations..

Anonymous said...

Fearing retribution from angry Americans that he’s f***** unmercifully, Lloyd Blankfein set to do a runner and flee the U.S.

"Lloyd Blankfein of Goldman Sachs today said, “Operations can be moved globally and capital [i.e., America's savings and pension accounts] can be accessed globally.”
read more at http://www.businessinsider.com/regulation-banks-moving-2010-9

yoohoo zarinah anwar..u dah bili stilletos,lingeries,ropes,handcuffs?kahkahkahkahkah

Anonymous said...

oooo..pi tenggok wall street 2..ollie stone recretes the real battle between BEARS N STERNS(in the movie its Keller Zabel Investments) and Goldman Sachs(in the movie its Churchill Schwartz) and the financial crisis of 2008..for sure hantu tetek n wife najubori,mahaclanchow kutty ,the anglo bums n whores will naik stim kow kow..kahkahkahkah

Anonymous said...

Industries will move off shore or flow to wherever there are advantages to be gained. This will create what is known as frictional unemployment within the economy. With retraining and continuous education backed by a supportive social support system there will be wholesale relocation of the labor force to newer and greater value added industries within their own country (and therefore not caught in the so-called middle income trap as we are calling them). Meanwhile the relocation of the old industries to the underdeveloped world helps them (us) expand their earning power and enable them(us) to purchase the new products coming out from the USA. Heh go figure! See the overall picture. You are sounding like the short-sighted and ignorant right in America!

Ariji said...

Saya selalu juga kritik mazhab sunni.

ada berminat debat/dialog dgn sy secara rasmi n terbuka?

peace.

Anonymous said...

Securities Commission Chairman Zarinah Anwar called Goldman Sachs' decision a "significant" one for the local capital market and "demonstrates the group's confidence in the growth opportunities available in the Malaysian capital market," she said.

Read more: http://www.nasdaq.com/aspx/company-news-story.aspx?storyid=200912080132dowjonesdjonline000063#ixzz114Knj0ks

Anonymous said...

The FED Cannot Keep Stocks Up
October 1st, 2010 by Michael Krieger

What the future will hold is such a dramatic sharp burst to astonishing new price levels of several thousands of dollars. This does not even require hyperinflation. It is not likely that the United States would enter a hyperinflation mode. The system would collapse long before that takes place. The much more likely result will be a complete currency default with a replacement of a new currency. This is one way government defaults by using a shell game so that the average person does not understand he was just taken to the cleaners.

- Martin A. Armstrong on Gold

The FED Cannot Keep Stocks Up

What a difference a month makes. As I prepared to begin my Labor Day weekend in late August the financial media was abuzz with predictions of stock market doom. You could barely read anything without being confronted with several references to the dreaded Hindenberg Omen and how the appearance of several of these had all but guaranteed an imminent stock market collapse. There were plenty of reasons to be bearish. The market performed horribly in August and the economy was clearly still in the dumps despite a continued endless propaganda to the contrary. Nevertheless, the constant predictions of doom was indeed a great contrary indicator and barring some monster reversal today we are about to finished the month of September +10% in what is typically the worst month for stocks. It is set to be the best September in 70 years.

Anonymous said...

The truth of the matter is while the relentlessness and strength of the rally did surprise me a bit the fact that we bounced hard did not. Ironically, the reason I thought this could happen is because I am SO bearish. At the end of the day, if you are coming from the angle that I am you need to assume the stock market is a political tool for those in charge. I have said this time and time again. The manipulators cannot stop the cycles of markets any more than they can the cycles of nature in the end, but in the interim they can create a lot of problems and seriously damage your P&L if you do not know who you are up against. When it is the system itself that is fighting for survival as it is today, the system will fight back with everything it has. People in positions of power in the United States today are much more Machiavellian than most good natured citizens could ever fathom. If you do not wake up to who your leaders really are you will be led to the slaughter with the rest of the sheeple. I want this to happen to as few people as possible. This is the main reason I write.

Ok, so all of this action in the market is ancient history and the bigger question is what happens next? What I find so interesting about sentiment right now is that it has done an complete 180 from just a month ago. Those that have bought significant out of the money protection on stocks are suffering big losses on their insurance due to the rally and the action in the VIX. From a sentiment and positioning standpoint, this was where the pain trade was into September and therefore it has happened. Bears are terrified to short and this notion that the soon to be extinguished Federal Reserve can prop up stocks forever has entered the psychology of investors and traders everywhere. This is DEAD wrong.

Anonymous said...

What I find so hilarious about the last week or so is the amount of complete garbage that has come out of people’s mouths, which then gets spun by the media and others to justify higher stock prices and keep this ridiculous rally going. I don’t care if someone is worth $100 trillion dollars and made $5 trillion last year, if what comes out of that person’s mouth is Orwellian 1984 style 2+2=5 drivel I don’t simply accept it like some mindless drone. I don’t check my common sense at the door because of someone’s paycheck and neither should you. I also don’t mindlessly worship a billionaire who acts like some dopey/humble grandfather figure in front of the television cameras all the while lecturing us serfs that it was necessary for the government to bail out the elites at the taxpayer expense. The good news for us is that when I watch many of the elites and power players I see fear behind their veneer of arrogant self-righteousness. Their statements while seemingly brimming with confidence are becoming more desperate. They are losing and they know it. The stock market and money printing is all they have left as a tool to keep people asleep and it’s not working. What I find so hilarious is that no one seems to ask themselves why a big money manager might come on CNBC and tell everyone stocks can’t go down. Perhaps in a market with little to no liquidity someone needs liquidity to dump their garbage on some unsuspecting sucker. Based on the volumes in the market I shudder to think what happens if someone actually tries to sell positions in size.

Anonymous said...

Are We Near a Major Top in Stocks?

I typically do not talk about the broad market in aggregate unless I feel we are at some sort of major turning point. I think we may be at one currently. When you have a stock market up this much on vapors and the belief that the Fed can keep it up you have nothing short of a disaster waiting to happen. Let’s just think about some of the nonsensical logic out there. So people think the Fed can just launch QE2 and push stocks higher. Really? First of all the market just surged 10% this month and is trading at the highest level since May. Food prices are soaring, gold is above $1,300/oz and silver is above $22/oz (gold is at a nominal record and silver is at the highest price in 30 years). Does anyone realize how ridiculous an announcement of QE2 would look in that context? It would probably freak people out and stocks could collapse. Ok, so if I am right and they can’t do QE2 with asset prices at these levels what do you think is going to happen to stocks once people realize QE2 is not about to be launched. Whereas in late August the pain trade was the rally we just had, the pain trade may be an equally powerful although much quicker plunge down to the 1,000 level in the S&P500

Anonymous said...

Oil Closing in on $80/b

This is almost a perfect setup for a big selloff in stocks. As I have pointed out for several years now, the broad stock market has never sustainably rallied as oil breaks the $80/b level. We are trading just under that now in WTI, Brent is nearing $82/b and Asia Tapis is above $85/b. What’s worse is that other commodities are way higher today that than they were the last several times oil approached the $80/b mark.

Mortgage Gate

If you are not up to speed on “Mortgage Gate” I recommend you get there and fast. While the whole issue of put-backs to the banks has been in the news for a long time I don’t think too many people appreciate the implications of all of this. What is so interesting to me is that many people seem to think the fraud that happened earlier this decade is behind us and we can just brush it all under the rug like a bad dream. Wrong. This is only NOW starting to really hit a head and for once in my life I am happy that we have an excess supply of lawyers in this country because we need an army to go through all these documents and put people away. If they had succeeded in reflating housing perhaps a lot of this stuff would have just gone away but they didn’t and it hasn’t. Once people find out how much trouble they will be in they will sing to the authorities and rat out those above them. This is going to get really ugly really fast. The best quick summary I have heard on this issue is by Chris Whalen. The interview is here and is a MUST listen.
http://www.kingworldnews.com/kingworldnews/Broadcast/Entries/2010/9/24_Chris_Whalen.html

Anonymous said...

GDX/SPX Trade Should Take Off Shortly

One thing that almost nobody thinks can happen is surging gold share prices amidst a falling equity market. In fact, I see no more attractive trade currently although I do acknowledge that in the initial sell-off (look at today) the gold shares could take it on the chin. Nevertheless, I wouldn’t try to be too cute about timing it since I do not think we will see the 2008 trade again. Like I said, I think gold shares will surge as the stock market languishes. This is because big money will buy physical gold on dips while paper longs panic. I expect this spread to be one of the most powerful trades we may ever see later this year and into 2011.

All the best,

Mike

Anonymous said...

//This is because big money will buy physical gold on dips while paper longs panic.//
a very very important statement....reak physical gold vs paper based assets..whats appenin now is to acquire real/solid physical gold,becos there r "forces" who r sick n tired of USD dominating trade n bizniz n they want currencies to backed by gold..yes,we r moving back to the gold standard..central banks,gomens in europe dah tak ada dui..dah terlampau banyak ootang..they cant support anything anymore(in case of gold raids,bail outs,support their currencies).. (N our pooki basi masih nak isap kotek goldman sex,n jv with a US firm 2 do futures trading for palm oil in USD..the pukimaan kelanchowan of the zombi elites of this country is beyond belief!) boggling..

Anonymous said...

Step Aside ECB: China Becomes Lender Of Last Resort To Failing Greece, In Exchange For Petrobras-Like Shell Game
Submitted by Tyler Durden on 10/02/2010 13:07 -0500


Here is how you kill two birds with one stone, all the while confirming that Europe has been about a step away from a full collapse. Greece, which like Ireland, has been unable to peddle its bonds to anyone now that Bunds spreads are back to all time record levels, has just seen the last white knight of the Keynesian system come to its rescue: China. As Bloomberg reports, the European lender of last resort is no longer the ECB: "China has already bought and holds its Greek bonds,” Wen said in joint comments with Papandreou today, which were carried live on state-run ET-1 television. “It commits, very positively, to buy new bonds to be issued by Greece." Yet herein lies the rub: in exchange for the Chinese last-ditch rescue financing, which by the way is so transparent that everybody, except maybe for the Norwegian wealth fund will see right through it, Greece, in what is an almost identical replica of the Petrobras shell game, will use the money to turn around and buy Chinese ships. "Wen said a $5 billion shipping fund will be set up to tighten relations between the countries’ two maritime industries and facilitate the sale of Chinese vessels to Greeks." Truly brilliant what Keynesians will come up with in the last days of a collapsing economic religion.
http://www.zerohedge.com/

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