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The Way Out: Manufacturing

By: Steve Johnson

1/22/2008 - 16 Comments

Last week the US factory orders have hit a 5-year low. Primarily because most of the manufacturing sector in America (what’s left of it) is producing products for the housing market.

With new home construction slowing to a 27-year low, it’s no wonder factory orders are in the toilet.

Reference Article: Home Construction Slows to 27-Year Low

The real solution to getting the US economy out of a recession is to rebuild the manufacturing sector, and if America consumers are broke then we need to target other parts of the world that are growing.

Iraq economy to boom

Iraq's economy is expected to boom in the coming year, despite political and security problems, the International Monetary Fund (IMF) says. This is our chance to get some of our war money back.

Reference Article: IMF says Iraq economy to boom

“Surging oil prices have recently boosted Iraq's oil revenues to $27bn, $6bn higher than projected.” Iraq has been decimated by war and tyranny government for decades. But, now has a stable government and with the drastic increase in oil prices, they are ready to increase their standard of living.  Who better then the restructuring of the America manufacturing industry to target this emerging market?

Entrepreneurs have lifted the US economy out of several other downturns.  We need a new breed of youth people to attack new markets in nanotechnology, healthcare, alternative energy sources and water filtering/delivery systems, etc.  The only problem is that we have just gone through the most prosperous time in our history and most of the young educated people in America have grown up with money in hand, and therefore have little ambition or motivation to devote the next ten years working hard at building a new business.  But, that’s exactly what we need.

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