Biden means business when he says the US is going to start manufacturing. [news.yahoo.com]
IF we start manufacturing again it will be in large part because of inflation and increased wages. When something costs way too much in America and you are now paying more for it businessmen could make a profit again also. So much for greed and high prices.
Damn fine news!!! When i was much younger, but still only about 50 years ago, not only did we manufacture pretty much everything we needed (steel, durable goods, clothes & shoes, and food) but we were also a powerhouse of producing things like very superior steel to the rest of the world.
But manufcturers did not want to pay the price skilled workers were getting (thanks to Unions!) and decided to go where they could exploit people for .25/hour and no unions....but never, ever thought, who in Taiwan was going to buy those lawnmowers? (for just one simple example) A velvety lawn is a USA Middle Class thing, you idiots!
Interesting, kinda sounds like protectionism, which usually backfires. And unless other countries join in, it's just going to hurt the USA. And the day when the US says jump and everyone jumps are LONG over. Even our allies are evading sanctions on Russia, can't imagine why anyone would go along with this. We'll see I guess.
Do you not remember, less than 50 years ago, not only did we manufacture pretty much everything we needed but also supplied a lot of the world with our steel, for just one example.
Which is where all those upwardly mobile newly-named 'Middle Class" people came from.
@AnneWimsey I have been on this since the 80s, an ever decreasing percentage of the American economy has been actually creating wealth. I am just not sure this chip thing is really going to help, or if it is even possible to turn back the clock.