5 Myths about U.S. Economy via Yahoo! Finance

Is the U.S. Economy as weak as we think it is? Could American made goods actually live on? This video and article below on Joel Kurtzman’s thoughts leave some insightful optimism…

Myth #1: America is broke

America’s private sector is in better shape than it’s been in years, and the American consumer is healthier than she or he has been in the past 35 years, says Kurtzman. “On the private side of the balance sheet America is doing just fine,” says Kurtzman. The public side is another story, but it’s improving. The money America uses to pay its debt has been declining as a portion of GDP every year, “and it’s very manageable,” says Kurtzman.

Myth #2: High unemployment rates are here to stay

Kurtzman says the high jobless rate is concentrated in people without a college education and those under 25. The unemployment rate for someone over 25 who’s college educated has held steady at around 4%.

Myth #3: China is ascending while America is declining

“China is coming of age at probably the worst time in history for a country that wants to be a manufacturing power,” says Kurtzman. China’s strategy involves having 200 million people a decade  working in manufacturing, says Kurtzman. “They can’t accommodate that,” says Kurtzman. The U.S., meanwhile, has moved from a manufacturing-centric economy to a service-focused one–a transition that China will eventually have to make, says Kurtzman. “That will be very difficult for them.”

Myth #4: America is a spent power

Kurtzman says the U.S. is in a great position for growth because it remains the world’s leading military and manufacturing power, has trillions of dollars in capital to deploy and is now less dependent on imported oil given the development of its own energy reserves.

Myth #5: America doesn’t make anything anymore

This is simply not true, says Kurtzman. America is the dominant manufacturing power in the world if you include what we make overseas. But if you just look at just what we make in America, we make 20% of everything produced. That’s about the same as China but China makes low value-added products such as towels and clothing. We make airplanes, radar, turbines — the big expensive stuff.

(via Daily Ticker)

American Made U.S. Government?

American Made Discussion
“Rep. John Garamendi, D-Calif., raised the prospect Feb. 11 of requiring the General Services Administration to buy American goods and services for federal real estate projects.” Photo credit: Brendan Hoffman/Bloomberg

A California representative is asking for the General Services Administration (GSA) to be supplied with only American made goods.

Rep. John Garamendi, D-Calif. posed the question on American made, as reported by the Washington Business Journal during the House Transportation and Infrastructure Committee meeting last month.

“I think the members are aware that we’ve been pushing a make-it-in-America agenda,” Garamendi told the committee members. “As this bill moves along, we ought to consider writing into it provisions that our constituents’ taxpayer money be spent on American-made goods and services as these projects move forward.” –Washington Business Journal

The General Services Administration “is an independent agency of the United States government… The GSA supplies products and communications for U.S. government offices, provides transportation and office space to federal employees… It contributes to the management of about $500 billion in U.S. federal property, divided chiefly among 8,300 owned and leased buildings and a 210,000 vehicle motor pool” (Wikipedia).

Although the notion is fantastic for those understanding the concerned state of American made products and the boost it would provide to domestic jobs and business, lawmakers in Washington didn’t take much notice to the idea. Except a fellow Californian rep, Grace Napolitano, D-Calif., “who said that kind of policy could backfire by inflating the costs of federal projects. Any measures like it should take that into consideration.”

Is there any hope for balancing a budget with American made products? How about in our own homes? Let us know in the comments section on how you approach buying American made…

California Rep. John Garamendi weighs whether GSA should be made to buy U.S. goods – Washington Business Journal. (n.d.). Retrieved from http://www.bizjournals.com/washington/breaking_ground/2014/02/debate-ignites-over-whether-gsa-should.html
General Services Administration – Wikipedia, the free encyclopedia. (n.d.). Retrieved March 3, 2014, from http://en.wikipedia.org/wiki/General_Services_Administration

The Resurgence of American Manufacturing

From the mills of colonial New England, to the steel plants of the Midwest, manufacturing has long been a key component of the American economy. Unfortunately, the general trend since the middle of the twentieth century has been downward. After taking a particularly stiff drubbing during the so-called Great Recession, American manufacturing has finally started to show signs of improvement over the past couple of years.

What’s remarkable about Manchester Wood is that we started making solid wooden furniture during the mid 70’s, just as American manufacturing was entering its long slide and jobs were starting to be shipped to places like Mexico or Taiwan and later China. Despite the general trend of outsourcing, we remained committed to American made furniture.

The Hanover Media and Gaming Stand
The Hanover Media and Gaming Stand

One recent encouraging sign for the U.S. economy is a growing for enthusiasm American made products. A recent study indicated that more than of 80% of Americans are willing to spend additional money on an American product instead of paying less for a comparable foreign product. This is great news for us: instead of cheap, foreign, particle board coffee tables, solid wood American furniture is coming back into vogue. Furthermore, as people start to tire of their foreign-made furniture deteriorating and breaking due to poor workmanship or materials, they are realizing the sense in spending a bit more money on durable, quality furniture made in the U.S.A.

If you are interested in U.S.A. made furniture, check out our solid wood TV stands. These stands are designed to enhance your home entertainment setup while still preserving the traditional charm of solid wood furniture.

Not only is our furniture 100% made in the U.S.A., it is also green. All of our lumber comes from certified sustainable North American forests, so you can be sure that you are supporting the American economy without jeopardizing the environment.