Obama and Clinton at the AAM Manufacturing Forum

Originally posted on The Economic Populist when AAM held this forum

On April 14th,  a manufacturing forum was held with both Presidential candidates for the Democratic primary.  

What is amazing is this seemingly was not broadcast on CNN,  or on CSPAN.    Trade and manufacturing policy area is critical to the US economy, so not covering such a forum is ....well, par for the course?  Anything important is obscured, anything divisive is sure to be played over and over.

Guess who didn't even bother to show up?  John McCain.

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The Collapse of American Manufacturing

Cross-posted at DKos.

Banking is not the creator of our prosperity but the creation of it. It is not the cause of our wealth, but it is the consequence of our wealth; and if the industrial energy and development which had been going on for so many years in this country were to be hindered or relaxed, then finance and all that finance means, will follow trade to the countries which are more successful than ourselves.

--Joseph Chamberlain, speaking about the British economy, in 1904.

The financial sector has replaced manufacturing as the driver of the American economy.
Manufacturing and Financial Services: Changes in Percentage Share of US GDP, 1950-2003                       

1950196019701980199020002003Manufacturing29.326.923.820.816.314.512.7
Financial Services10.913.614151819.720.4

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