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"Made in China" products accounted for only 2.7 percent of consumer spending
- dimmuborgir 15y agoOf course. Its cognitive bias at work. People are always discontent with their government. Failing to properly understand economics and politics, people exaggerate things to find reasons to accuse the government.
- NoPiece 15y agoIf you exclude services, then 35% of consumer spending is on imports. I think that number matches up more closely with peoples expectations. That said, oil really distorts that number.
- saturn 15y ago75% of motor vehicle purchases were "Made in America"? That is astonishing. Unbelievable, even.
- BigZaphod 15y agoI don't think that's what it means. I might be wrong, but I got the impression it meant that 75% of the total money spent on motor vehicles ultimately stays in the US in some fashion. Either because it was assembled here or because of dealer commissions or because it costs money to hire US companies to move the cars from the port to the lot, etc.
- stellar678 15y agoThe biggest sellers from foreign carmakers often end up manufactured in their USA-based plants, which then makes them "Made in America". Add that to the American carmakers and it seems reasonable to reach 75%.
- SkyMarshal 15y agoThe only plausible explanation would be that a large portion of foreign car purchases are from the foreign factories in the US. BMW, Mercedes, and practially all of the Japanese manufacturers make some of their cars here.
- nextparadigms 15y agoWhy aren't consumer electronics products in there? It seems to me they are only picking those with a high chance of being made in America. Also, does this "made in America" refer to the whole product or just the packaging/assembly, while the components are still made in China?
- BigZaphod 15y agoIn regards to your second question, check out figure 2 way at the bottom of the article where they have a breakdown of made in us with us parts vs. made in us without us parts, etc.
- NoPiece 15y agoIt isn't labeled in the chart, but the text of the article notes that electronics fall into the durable goods category along with cars, furniture, etc... So they are including all imports, not cherry picking.
- known 15y agoConsumerism != Capitalism
- tomfakes 15y agohttp://www.evolvingexcellence.com/blog/2011/08/the-fed-dishonest-or-dumb-you-decide.html http://www.evolvingexcellence.com/blog/2011/08/the-fed-disho... These guys call BS on the Fed's numbers, and then ask why the Fed deliberately made this complex calculation in a way to deceive what is really happening
- BigZaphod 15y agoWell I'm not sure who to believe, but leading off their rebuttal with, "I am not going to begin to decipher their convoluted logic" does not inspire confidence.