Originally Posted by NJCardFan
My grandpa had been saying for years before he died that the US doesn't make stuff anymore, so how can we make money if we don't have anything to sell?
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06-13-2012, 08:49 AM
My grandpa had been saying for years before he died that the US doesn't make stuff anymore, so how can we make money if we don't have anything to sell?
06-13-2012, 09:36 AM
That's not entirely true. We still produce a tremendous amount of industrial output, but that proportion has been shrinking relative to the rest of the world and our own economy.
The U.S. is the world's third largest exporter, after China and the European Union. In 2011, it barely surpassed Germany in the dollar value of exports. (Source: CIA World Factbook, Exports Rank OrderTwo-thirds of U.S. exports are material goods. The largest sub-category (25%) is capital equipment, such as computer equipment, semiconductors and medical equipment. The second largest (20%) is industrial machinery and equipment, including plastics, chemicals and petroleum products. Only 5% of exports are automotive, while 6% is food and beverages. Despite being such a large exporter, the U.S. exports less than it imports.The remaining third of exports are services. In addition, the U.S. exports more services than it imports. That's because of U.S. success in exporting intellectual property, such as technical information. The three largest export categories in services are royalties and license fees, travel services and financial services.
What Does the U.S. Import?:The U.S. imports more than it exports. As a result, it's the world's largest importer. More than 80% of U.S. imports are goods. The largest category ($756.6 billion in 2011) is industrial machinery and equipment, which includes plastics and chemicals. Within this, the largest category is oil and related petroleum products. In 2011, the U.S. imported $439.3 billion of petroleum products, the highest level since 2008.The second largest sub-category is consumer goods, which totaled a record of $513.7 billion in 2011. It imported $107.4 billion of food, feeds, and beverages. In addition, the U.S. imported $254.1 billion in automotive vehicles. For updated numbers, see U.S. Trade Deficit.(Source: U.S. Census, Exhibit 6 - Imports by End-Use Category)(Article updated May 18, 2012)So, it's not completely dismal. The reason that our exports have dropped relative to other parts of the world is that in a free global economy, your most expensive commodity has to compete with that same commodity in other countries, where it is cheaper. Our most expensive commodity, relative to the rest of the world, is labor, especially entry-level labor. Consequently, it's going to be cheaper to produce products overseas that are labor intensive but which do not require much sophistication in assembly, such as clothing or low-end electronics. The question is, do we want to get back in the business of using US labor to manufacture trinkets? Our real focus ought to be on energy, high tech manufacturing and agriculture. We need to be able to feed ourselves, be independent of foreign energy sources, and maintain an industrial base that can manufacture the strategic ordnance that we need in order to protect ourselves.
06-13-2012, 06:29 PM
Following up on Ody's post - the US is actually the world's #1 manufacturer but we do keep a greater portion of our goods rather than export them.
At the same time, improved computer programming, efficient auto-assembly and other improvements have reduced the number of people involved back to about 1940 levels.
06-15-2012, 10:48 AM
You forgot ATMs. Obama is not pleased with you.
06-15-2012, 07:28 PM
And I hope he knows how much I care.......
06-17-2012, 12:10 PM
Obama meant that he conceived of it the same way a Packer fan believes in Green Bay Packer Exceptionalism, which is somewhat childish. Unfortunately the hard-over believers in it are messing with mixing their metaphysical beliefs into interactions with a world that doesn't share them, biasing judgments and decisions that should be based on facts with pure belief (Which is occasionally pure bunk) by displacing them with those articles of faith. At its best it resembles 'The White Man's Burden' of Kipling, at its worst the Herrenvolk beliefs of the Reich.
As many noted already, a good half of the current electorate and elective government are doing a pretty good job of demonstrating how unexceptional we can be. Fortunately this doesn't shake any fundamental ideological foundation of mine, nor as far as I can see does it conflict with what the large majority of the Founders saw in people of their time, either. I served America under arms for almost four decades, it wasn't because I believed in magic or destiny, it was because I chose to do that.
06-18-2012, 08:26 AM
What about this statement bothers you?
Exactly what areas are we "exceptional" in?
We spend more money on elections, that's for sure.
06-18-2012, 08:39 AM
Our Healthcare is up there and our military if by far the tops, not to mention a host of other things, dont worry your palls are working hard to knock us from the tops.
06-18-2012, 08:58 AM
American Exceptionalism
Let's see if you can read.
06-18-2012, 09:19 AM
I can run down the road listening to my own music that i recorded in my own home. I can shoot off my front deck or wizz off of same depending on my preference. I can work and live where I want to because I worked at developing marketable skills which pay for my lifestyle. I had choices there, too.
I could have been a career criminal like my old man but at the last minute I chose the legal path. It's harder and less exciting but you generally live longer. The freedom and opportuniy we have is what makes this country exceptional. The wherewithal to act upon our freedom is what makes US exceptional. Those who can get up and do. Those who can't (or won't) sit back and review. It's all about the fight in the dog.
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