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They hung on for a few years as the last television set made in America, but eventually, they had to cease production. "Made in America" didn't count for very much when that label alone cost you a few hundred dollars. Americans it seems not only vote their wallets, they live them. Everyone talks the good talk about American jobs and sending our manufacturing jobs overseas, but put some union-made American undershirts next to those Sri Lankan made undershirts and see which sell. If they're of equal quality (and with most consumables, they are), we will always choose lower cost. None of this is to say that our place in the global economy doesn't pose domestic risks. There are three that immediately come to mind: * As we move from from a manufacturing to a mixed maufacturing/service based economy, can the service portion of the economy absorb all the displaced workers from low-end manufacturing? We don't need to re-make the French or Bolshevik Revolution. * Are we allowing too many strategic industries to move offshore, industries that could be required for national security? (Ship building, oil, and electronics, for example.) * Is the currently depressed dollar simply stalling an eventual decline in durable goods manufacturing? Caterpillar and John Deere sell big overseas because they're so cheap overseas. If the dollar somehow rebounds (but I don't see happening in my lifetime) Komatsu and CNH make equipment every bit as good as Caterpillar and Deere. Might we see the same thing happen in Moline and Peoria that happened in Greensboro? The only thing any of us can do is stay on top of the World and economic news, and make our decisions accordingly.
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