Saturday, February 25, 2012

comes the owl at dusk...

just as the trend of 40 years begins to  reverse we get a flood of insight


"..A new  --NBER--  study ....shows that the rapid rise in low-wage manufacturing industries overseas has indeed had a significant impact on the United States. "

"The disappearance of U.S. manufacturing jobs frequently leaves former manufacturing workers unemployed for years, if not permanently, "

".... creating a drag on local economies
and raising the amount of taxpayer-borne social insurance
necessary to keep workers and their families afloat "

file this  under

"put  some numbers to  it ":

"A city at the 75th percentile of exposure to Chinese manufacturing,
 compared to one at the 25th percentile,
 will have roughly a 5 percent decrease in the number of manufacturing jobs
 and an increase of about $65 per capita in the amount of social insurance needed"

 ".. $65 per capita wipes out one-third of the per-capita gains
 realized by trade with China, in the form of cheaper goods"
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what's  obvious thru the front windshield
becomes conventional wisdom
 only in the rear view mirror