The statement was hyperbole, but it doesn't feel like we make anything by comparison with the industrial pulse that I "enjoyed" in my career. Probably a good thing in many ways, including environmental impact; but there are several serious problems with our current industrial base: 1) the U.S. physical infrastructure is decrepit with no motivation to refurbish as a function of the production and the sales needs of a strong industrial base. 2) The vast quantity of imports (things that we do not make) means that the transportation costs - read fuel requirements - are enormous. 3) Productive activities often require and fund R&D - read innovation and discovery. 4) Real unemployment (not just the people receiving unemployment insurance) and poverty are substantially higher now due to decrease in domestic industries.

Of course, you are correct that we still make things in the U.S.

paul spencer

The mismatch of the remunerated labor inputs to the types of goods and services being exported you well describe below. Alas, it is hard to export a haircut or a home improvement or a tax advisement or a retirement planning service, the sorts of personal services to which the US economy has shifted as manufacturing jobs no longer provide enough to maintain a secure family environment for most non-union workers. And despite all the talk about Rule Americana in the financial services world. I mean   the Brits still got that angle mostly tied down (no pun intended). Considering size, the Americans are pikers by comparison.

All the while the balance of payments situation in the US remains quite precarious, the one thing really going for it is technology. Unfortunately, because the US is entering one of its many historical asshole phases,
even that could soon be a thing of the past, as US technology multinationals like Microsoft just work their way around one of America's occasional phases of xenophobia and mass security hysteria. Not a good sign for future exports of services which can efficiently be exported.

The rest of the world has taken notice as well, not just Microsoft,it would appear. So despite the great deals you can still get a short place ride from Heathrow or a very short car ride from Windsor, less and less are coming here to take advantage. That certainly doesn't help, either.

I fully agree it is not helpful to engage in hyperbolic statements about the us not making anything anymore. It's simply not true. In any event, it should suffice to say it doesn't make enough to support the predatory lifestyle it has accustomed itself to, which is really already something to bemoan.

Fai de bèn a Bertrand, te lou rendra en cagant

In the long run, we're all dead. John Maynard Keynes