With everyone talking about preserving or restoring American’s manufacturing might, it is worth noting that there is a huge construction boom for manufacturing facilities under way:
But when you look closer, you quickly discover that much of this is being driven by the spending spree of the Biden so-called “Inflation Reduction Act” and related sugar highs, which may or may not fully reflect underlying economic reality:
The other thing to keep in mind is that expansion of manufacturing capacity does not translate automatically into increased employment because of robotics, AI and other computerization that are increasing productivity.
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