From 538, the gold standard for media predictions, on March 18, 2016:
Manufacturing Jobs Are Never Coming Back
The story said:
How do we know? Because in recent years, factories have been coming back, but the jobs haven’t. Because of rising wages in China, the need for shorter supply chains and other factors, a small but growing group of companies are shifting production back to the U.S. But the factories they build here are heavily automated, employing a small fraction of the workers they would have a generation ago.From USA Today, four days before the election:
Why Donald Trump will fail to bring back factory jobsFrom MIT Technology Review, ten days after the election:
Manufacturing Jobs Aren’t Coming Back
President-elect Trump’s promise to bring back production jobs ignores the realities of advanced manufacturing.From Nobel-winning economist Paul Krugman on November 25:
The story of U.S. manufacturing is basically one of high productivity growth allowing demand to be met with ever fewer workers,From CNBC on December 1:
Trump's Carrier deal aside, here's why most US factory jobs aren't coming backFrom the Economist on January 14:
Politicians cannot bring back old-fashioned factory jobsOK.
I get it.
Factory jobs are dead.
We had reached Peak Manufacturing.
So why have Ford, Fiat-Chrysler, GM, Toyota and other car manufacturers announced billion-dollar investments in the United States and plans to hire thousands of workers? Why did Exxon just announce a $20 billion plan to expand its factories in the United States?
And why this from the Wall Street Journal:
SEOUL— Samsung Electronics Co. is planning a major investment to expand its U.S. production facilities, according to people familiar with the matter, with at least five states in discussions.
The initial capital investment is expected to be around $300 million, several of the people said, with Samsung shifting some production of oven ranges to the U.S. from Mexico. The move could generate around 500 jobs, those people said.
Talks are continuing and no final decisions have been made, with a start date for oven-range production still undetermined, the people said, so the details may change.Could it be that the same mouth-breathing imbeciles who missed Trump's nomination and Trump's election also don't know jack about economics?
Especially that Nobel Laureate in Economics, Krugman.
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