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It's automation. Perhaps you aren't aware of the fact we are manufacturing more now domestically than ever, with fewer people, but it's true. Unless you think Asia exists inside the US?pic.twitter.com/vAyAwFV6Lu
1. That graph doesn't match the one I got from FRED: https://fred.stlouisfed.org/series/OUTMS U.S. manufacturing output has been weak since 2000 and I believe the United States is at its largest trade deficit ever. 2. In the graph you can see a material drop in u.s. manufacturing employment...
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Right after China joins the WTO. 3. I think that the example you cite in the oil industry is the exception, not the rule. Quite simply there is no current way to profitably automate all but the highest scale manufacturing.pic.twitter.com/Pfz3vISKVM
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4. Suppose you own a factory in America. If you can automate it, you do. If you can't, you offshore it. Walking around and looking at all the automation in USA manufacturing and assuming that it's the principal cause of job loss is survivorship bias.
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