Croker Sack

"Democracy is the theory that the common people know what they want, and deserve to get it good and hard." — Henry Louis Mencken (1880-1956)

Monday, October 24, 2011

Trade advantage changing to favor USA?

This article in The Telegraph (UK) makes a surprisingly optimistic prediction:

The American phoenix is slowly rising again. Within five years or so, the US will be well on its way to self-sufficiency in fuel and energy. Manufacturing will have closed the labour gap with China in a clutch of key industries. The current account might even be in surplus.

The slow growth coming out of the recession can be discouraging, so it would be nice to think that things may get better for reasons we ordinary folks might not have expected. More petroleum and natural gas from US sources and more manufacturing here in the US (and lower imports) could give us a better economy.

Unfortunately, the global situation may still put a damper on things, as the article states:

The switch in advantage to the US is relative. It does not imply a healthy US recovery. The global depression will grind on as much of the Western world tightens fiscal policy and slowly purges debt, and as China deflates its credit bubble.

So everything is relative, but I'd rather be on the good side of that relative balance than the bad; and more "made in USA" labels on what we buy could mean more jobs here in the US.


Post a Comment

<< Home