The Shocking Truth About The Deindustrialization Of America That Everyone Should Know

I have pointed out that Korea has been deindustrialized to some degree.  The case of the U.S. illustrates what would happen if a nation lost its productive capacity.

From Zero Hedge:

How long can America continue to burn up wealth?  How long can this nation continue to consume far more wealth than it produces?  The trade deficit is one of the biggest reasons for the steady decline of the U.S. economy, but many Americans don't even understand what it is. Our current debt-fueled lifestyle is dependent on this cycle continuing.  In order to live like we do, we must consume far more wealth than we produce.  If someday we are forced to only live on the wealth that we create, it will require a massive adjustment in our standard of living.  We have become great at consuming wealth but not so great at creating it.  But as a result of running gigantic trade deficits year after year, we have lost tens of thousands of businesses, millions upon millions of jobs, and America is being deindustrialized at a staggering pace.

Just look at what has happened to manufacturing jobs in America.  Back in the 1980s, more than 20 percent of the jobs in the United States were manufacturing jobs.  Today, only about 9 percent of the jobs in the United States are manufacturing jobs.
And we have fewer Americans working in manufacturing today than we did in 1950 even though our population has more than doubled since then...



Many people find this statistic hard to believe, but the United States has lost a total of more than 56,000 manufacturing facilities since 2001.

http://www.zerohedge.com/news/2014-04-04/shocking-truth-about-deindustrialization-america-everyone-should-know