The Largest Export Product From the US Is What? Three Graphs That Will Make Your Blood Boil
Jam5000000amSat, 18 May 2013 06:16:22 +000013 10, 2010 by News From the War Against the Middle Class: The World's Most Accurate Economic Forecaster
What is the largest export product in the United States since NAFTA? The answer is simple: Jobs and with them, the US tax base that supports government services, such as roads, police and schools. These exported jobs are also what is fueling the recent gains in the stock market because the difference between the old wages and the new lower wages goes into the pockets of the 1 percent via higher corporate earnings, rising dividends and surging share prices. Coincidentally, the graph only shows job losses via export until 2010. This trend has had increase since then.
The United States is importing more manufactured goods, primarily from jobs that have been exported, or created overseas, by US corporations. In other words, the imports we purchase from overseas are from jobs that used to be, or would’ve been, in the US, in the absence of the free trade treaties that have paved the way. The difference between the old wages and the new lower wages overseas goes into the pockets of the 1 percent via higher corporate earnings, rising dividends and surging share prices.
Some of the jobs have been lost to automation, but most have been exported.
Manufacturing gone south since and because of Nafta and other trade agreements
Free Trade Agreements Mean Jobs Are Evaporating All Over the World
Cumulative Jobs Exported Since Nafta became law. These figures are from the Federal Reserve. Notice, Fed officials don’t suggest these jobs have been lost to automation.