But no more.
Those jobs are gone.
Because we forced them out.
But that's not the worst part.
The problem grows:
Emerson’s Farr Says U.S. Is Destroying ManufacturingBefore companies were taking jobs overseas and manufacturing goods for the American consumers back home (those who still had jobs). Now companies not only have their manufactories overseas, but their intentions are to sell overseas as well. There's seen as being no growth in the market here.
By Will Daley, Bloomberg
Nov. 11 (Bloomberg) -- Emerson Electric Co. Chief Executive Officer David Farr said the U.S. government is hurting manufacturers with regulation and taxes and his company will continue to focus on growth overseas.
“Washington is doing everything in their manpower, capability, to destroy U.S. manufacturing,” Farr said today in Chicago at a Baird Industrial Outlook conference. “Cap and trade, medical reform, labor rules.”
Emerson, the maker of electrical equipment and InSinkErator garbage disposals with $20.9 billion in sales for the year ended September, will keep expanding in emerging markets, which represented 32 percent of revenue in 2009. About 36 percent of manufacturing is now in “best-cost countries” up from 21 percent in 2003, according to slides accompanying his speech.
Companies will create jobs in India and China, “places where people want the products and where the governments welcome you to actually do something,” Farr said. [link]
Because the effective unemployment rate here in the U.S. is 17% and climbing. And because the world's corporations are not welcome here.
Prepared for third world status? Stick around. It gets worse from this point on.