No sooner do I write today’s earlier article about “Cash Mobs” when a second positive economic occurrence transpires: insourcing. [If you were superstitious you might want to avoid black cats and indoor umbrella openings for the next couple days because something suspiciously uplifting is going on here.]
For those unfamiliar with insourcing (or general wordplay) it’s the opposite of outsourcing (pretty complicated huh?). It focuses on a job that was in the United States—-usually a manufacturing job—-before being moved to a different country—-usually China—-but is now being moved back to the United States—-usually not the source of good money news.
As someone who thinks America’s lack of manufacturing jobs will be its downfall, I love this news. And it appears I’m not the only one as the Obama administration is making “insourcing” a priority by eliminating tax cuts for businesses that outsource their manufacturing jobs (FINALLY!) and giving them back to businesses that keep jobs in the U.S. (again, FINALLY!).
Obama also offered up this awesome quote “I don’t want America to be a nation known primarily for financial speculation and racking up debt from buying stuff from other nations. I want us to be known for making and selling stuff with three proud words: ‘Mad in America.'” This might sound like pandering in an election year but the realignment of taxes suggests he’s also serious about it, and thank God. It’s about time someone realized that shifting money around through Wall Street can’t sustain an entire country’s workforce.
As I have said many times, the lower middle class has become the largest group in the American economy and that group sliding into the lower class is a recipe for disaster. Trends like the temporary fix of “cash mobs” and the longer-term promise of “Insourcing” say that America won’t just roll over without a fight.