I recently reviewed a great new book that aligns well with the aims of this blog. Buying America Back by Alan Luke is an easy-read paperback (printed in USA, of course) that echoes what I say here – that a healthy economy is based on a positive or at least neutral trade balance. It quantifies the decline in our economy in parallel with the decline in our domestic manufacturing and the rise of imports. Did you know that the value of our imports each year is greater than the entire production of our domestic manufacturing?? Crazy and unsustainable! So if you want to back away from the precipice, buy this book, read my blog and start caring about buying American. I also like the detailed country-specific trade balance figures in the second half of the book. There were definitely some surprises, such as the fact that we have a 3:1 trade surplus with Egypt – who knew? A small bright spot.
Also, check out www.BuyingAmericaBack.org for more info.