The U.S.A. Is Still the World's Largest Manufacturer

Scataphagos brings up a good point. I'm looking into it.

Specifically:

1. Under GWB, there was a move to categorize fast food jobs as "manufacturing" jobs. I still don't know what came of it. How do we define "manufacturing - and how do others define it? Is it apples to apples or apples to oranges?

2. What about value added manufacturing? If GM or any other company has suppliers abroad that manufacture components for either a plane, or boat, or appliance - does the US get credit for "manufacturing" the entire cost of the product?

There are many more considerations. IMHO, I smell a rat - I can't believe that 1.3 billion people in China alone don't make as much "stuff" as 300 million in the USA. And if we make that much more than everybody, how the hell do we run such massive trade deficits? Something doesn't look right.

We are in a world of lies and damn statistics - reality tells me otherwise.
 
Quote from Misthos:

I can't believe that 1.3 billion people in China alone don't make as much "stuff" as 300 million in the USA.
More...

10,000 Chinese make 1,000,000,000 cheap trinkets that we buy for our kids at the dollar store.

10,000 Americans make 1 expensive airplane to import those trinkets.

That group of Chinese make 1 billion times more things than that group of Americans.

Which labor force would you rather be a part of?
 
Quote from psychonin:

"... how would one arrive at a fair comparison?
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Who knows? The government keeps the data (and of course that also means, "fudging as necessary to make them look good").

Even if I knew the answer, I don't see how such knowledge would be a benefit. (Other than to the "my dick is bigger than yours", crowd.)
 
The real problem is spending more than one makes....

It is the deficits .....


http://www.federalbudget.com/

Congress has spent more money than its income since 1969....

...................................................

And although there are some estimates that China make overtake the US in manufacturing in the future....

The real issue is living within one's means....How to run their affairs more responsibly...and thus make themselves stronger....

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The key points being that govt. must dramatically downsize ....commensurate with its economy.....

This means that sustainable assets and their valuations and income producing capabilities need to be the true objective .....

How does one accomplish this ?

Producing vast numbers of sustainable valuations and their incomes....

How does one do this ?

Favorable tax structure ....ie 15% C-tax only.....and a highly efficient nontaxable fully electronic direct access securities exchange that all countries can use and trust....in the name of increasing and efficient capital....worldwide....
 
Quote from Misthos:

Scataphagos brings up a good point. I'm looking into it.

Specifically:

1. Under GWB, there was a move to categorize fast food jobs as "manufacturing" jobs. I still don't know what came of it. How do we define "manufacturing - and how do others define it? Is it apples to apples or apples to oranges?

2. What about value added manufacturing? If GM or any other company has suppliers abroad that manufacture components for either a plane, or boat, or appliance - does the US get credit for "manufacturing" the entire cost of the product?

There are many more considerations. IMHO, I smell a rat - I can't believe that 1.3 billion people in China alone don't make as much "stuff" as 300 million in the USA. And if we make that much more than everybody, how the hell do we run such massive trade deficits? Something doesn't look right.

We are in a world of lies and damn statistics - reality tells me otherwise.
More...

In my (probably misguided) opinion, the US trade deficit tells me that Americans are overconsuming, rather than underproducing.
 
Quote from Random.Capital:

10,000 Chinese make 1,000,000,000 cheap trinkets that we buy for our kids at the dollar store.

10,000 Americans make 1 expensive airplane to import those trinkets.

That group of Chinese make 1 billion times more things than that group of Americans.

Which labor force would you rather be a part of?
More...

I agree with that line of thinking. But it also strikes me as very 2003. Their auto manufacturing has taken off... their defense industry too... I don't think the old stereotype applies. I am by far no expert - but you have to admit, they have come a long way.

I'm still doubtful about the numbers posted in the OP's quoted article.
 
Quote from psychonin:

In my (probably misguided) opinion, the US trade deficit tells me that Americans are overconsuming, rather than underproducing.
More...

On the right track....
 
Quote from psychonin:

In my (probably misguided) opinion, the US trade deficit tells me that Americans are overconsuming, rather than underproducing.
More...

I think it's both.
 
Quote from psychonin:

In my (probably misguided) opinion, the US trade deficit tells me that Americans are overconsuming, rather than underproducing.
More...

America spends what, about $60 Billion/MONTH on imported oil?

If we'd had genuine leadership in Washington, we'd have been driving VW sized, fuel efficient (perhaps alternative energy sources) vehicles since the oil embargo of the 70s.... and we'd be free of imported oil now.
 
The change in the number of of US manufacturing jobs is different from the change in US share of global production.

The numbers of employees in manufacturing can decrease (as it has) and the share of the US in global industrial production can remain stable or even increase (see graphic above). Increases in labor productivity make it possible.
 
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