Lou said that an “NAM spokesman” (we’re not sure who yet) “Admits American manufacturers have a lot of problems. Then seemingly says, Don’t worry.” Not sure we’ve ever said that. We’ve said we should worry plenty about the self-imposed costs we are putting on ourselves, giving us a 33% cost disadvantage with our competitors. Then Lou went on to rant, “NAM wouldn’t mind if foreign manufacturers owned 98 percent of the American market, so long as it is expanding. That’s precisely the kind of mindless, faith-based free trade nonsense that’s landed the country in the mess we’re in.”
Good God, get a grip, man!
What we’ve said — from the data (anybody care about the data?) — is that the Bureau of Labor Statistics says that about 42,000 jobs (out of a workforce of about 150 million) have been “offshored.” By comparison, we know from the Organization for International Investment that over 5 million jobs have been created by so-called “foreign” companies doing business in the US.
Furthermore, 70 percent of U.S. “multinational” company production is right here in the U.S. Only 27 percent takes place overseas — for foreign consumption- – and only 3 percent is produced overseas for shipment back to the U.S. Kinda blows a hole in the xenophobic view that it’s all gone to China to be manufactured and shipped back here, doesn’t it?
In any event, we’re always glad when Lou brings a little more attention to our great organization. We’ve long since given up on any hope that he’d be limited by the facts. But we are happy to be — especially when they’re so heavily weighted on our side, as here.
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