Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Politics : American Presidential Politics and foreign affairs -- Ignore unavailable to you. Want to Upgrade?

To: LLCF who wrote (67908)	11/9/2013 6:15:11 PM
From: TimF	1 Recommendation Recommended By FJB Read Replies (1) \| Respond to of 71588

No its simple fact. The US produces a lot more than it used to. And that's not just more in services, manufacturing output in the US has also increased. ---- mjperry.blogspot.com Since 1975, manufacturing output has more than doubled mercatus.org Manufacturing, value added (current US$) The latest value for Manufacturing, value added (current US$) in United States was $1,771,400,000,000 as of 2010. Over the past 50 years, the value for this indicator has fluctuated between $1,793,000,000,000 in 2007 and $133,448,000,000 in 1960. Definition: Manufacturing refers to industries belonging to ISIC divisions 15-37. Value added is the net output of a sector after adding up all outputs and subtracting intermediate inputs. It is calculated without making deductions for depreciation of fabricated assets or depletion and degradation of natural resources. The origin of value added is determined by the International Standard Industrial Classification (ISIC), revision 3. Data are in current U.S. dollars. Source: World Bank national accounts data, and OECD National Accounts data files. Of course manufacturing as a percentage of GDP is down, but that's a world wide phenomon not a transfer to other countries mjperry.blogspot.com and manufacturing employment is down, as it is in for example China. -- China lost 16 million manufacturing jobs, a decline of 15 percent, between 1995 and 2002, according to a study of manufacturing jobs in the 20 largest economies by Joe Carson, director of economic research at Alliance Capital Management. In that same time, U.S. factory employment shrank by 2 million, or 11 percent. In fact, in the seven years ended 2002, the number of China's manufacturing jobs fell at more than double the rate --15 percent versus 7 percent -- of the other countries in the study. (Two of the top 20 economies, Mexico and Brazil, report manufacturing employment in index form, not as actual headcount, and weren't incorporated into Carson's analysis. The payroll changes in that time period weren't large enough to alter the conclusions.) Despite China's addition of nearly 2 million factory jobs in 2002, ``the level of factory jobs (last year) was below 1998's and far below 1995's,'' Carson says. So who's stealing China's manufacturing jobs? It seems that China's advantage as a low-cost producer hasn't halted the insatiable drive worldwide to replace even dirt-cheap labor with productivity-enhancing equipment. bloomberg.com The world’s manufacturing juggernaut From the Boston Globe of all places: Americans make more “stuff’’ than any other nation on earth, and by a wide margin. According to the United Nations’ comprehensive database of international economic data, America’s manufacturing output in 2009 (expressed in constant 2005 dollars) was $2.15 trillion. That surpassed China’s output of $1.48 trillion by nearly 46 percent. China’s industries may be booming, but the United States still accounted for 20 percent of the world’s manufacturing output in 2009 — only a hair below its 1990 share of 21 percent. “The decline, demise, and death of America’s manufacturing sector has been greatly exaggerated,’’ says economist Mark Perry, a visiting scholar at the American Enterprise Institute in Washington. “America still makes a ton of stuff, and we make more of it now than ever before in history.’’ In fact, Americans manufactured more goods in 2009 than the Japanese, Germans, British, and Italians — combined. American manufacturing output hits a new high almost every year. US industries are powerhouses of production: Measured in constant dollars, America’s manufacturing output today is more than double what it was in the early 1970s. HT: Greg Mankiw PS. The four countries mentioned in paragraph two have a combined population greater than the US. themoneyillusion.com mjperry.blogspot.com