Alan Tonelson: Manufacturing-comeback claims debunked
Tuesday, January 15, 2013
If only American manufacturing was displaying the growth and resilience of the prominent Pollyannas hyping its prospects lately. The nation’s industry might actually be entering renaissance mode and its economy might actually be replacing the past decade’s disastrous bubble with genuine, production and earnings-led prosperity.
After all, President Obama, the Boston Consulting Group gurus, Atlantic Monthly authors and flocks of others keep trotting out anecdotes to show a historic comeback brewing in domestic industry, thanks to soaring production costs in China and other economic rivals, coupled with falling costs for labor and energy in America. Yet reams of wide-ranging new data repeatedly point to major, even mounting manufacturing woes — including flatlining growth and new record trade deficits practically by the month.Click here to read the article...