I would have to agree whole heartedly on this one. The way the rules of trade are laid out currently, large corporate short-term profits drive good jobs offshore while stock traders reward corporate leadership for their efforts with inflated worth and stock options. It's spelled GREED.
Richard points out that: Outside of the US, governments see manufacturing as key to long-term growth, and they target investment in industries and technology. In contrast, the U.S. government abandoned strategy to market forces and left workers and communities hanging without a safety net.
Have any of you bothered to check where the products you buy are made or assembled? I'll give you three guesses...Tick - times up! Just venture uptown Kingston... Pick any novelty gift shop and start your research. You'll see plenty of Chinese and Indonesian made goods right on Wall St.
The owners of these shops plea for the locals to buy locally, yet they don't practice their own rhetoric. Isn't that a drag? If Trumka had his way, everything uptown would be made in America but with a 20% mark up. I would look for and pay the extra for just that reason.
A few years ago, I went on a scouting mission. I checked out some of the big box stores. One of which was Bed Bath & Beyond in Ulster. Checked the selection and found the only product made in USA was the Kitchen Aid mixer. Come to find out, their biggest assembly site is a mile across and strattles the Texas/Mexico border. Guess where the majority of the assembly is done?
So Trumka has a point. Until we address where we make stuff, alter our free trade structure, and make the effort to buy American made products, we are never going to get out of the economic hole we are in. He states: Governments must restructure and regulate financial systems so that long-term investment is rewarded and gambling is not subsidized. We must use our financial resources to develop and deploy domestically-produced technology and, if there is better technology overseas, use our financial leverage to get those production systems located here.
So, you all have a homework assignment; Go out there, hit the stores and find the American made products that remain. Consider the slightly higher cost and then think about the dwindling workforce here in our country. I for one, still think where something is made matters.