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Middle Class America; Sorry, Sold Out:

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Message Mike Folkerth

Iron ore existed, steel mills were erected and industry that would propel America into the future grew to unprecedented levels.

Today the mills are closed, the auto plants are idle, unemployment is high, and home foreclosures rank as the highest in the nation.

Will these jobs really come back? One auto worker in Ohio asked Mrs. Clinton how she was going to bring the jobs back? I’ll paraphrase this, Mrs. Clinton answered, “I don’t have the foggiest idea, but it has a nice ring to it for a campaign promise.”

I wish I could say that I believe the jobs will come back, but I can’t. What little new industry that is occurring, is locating in the south. Trains and interstate highways have replaced the Erie Canal and climate alone would dictate the south as a better choice from a cost and operations standpoint. Having a 12 month no freeze, no snow zone and not having to heat an auto plant is huge.

Both Detroit and Cleveland presently have populations that represent approximately 50% of their former highs. I hope that those political candidates that promise new jobs and a new day in these cities, come through with the goods, but I don’t think so.

The passage of NAFTA and the WTO spelled the end of large scale American industry. We have been pitted against workers who earn less than $.50 per hour. Our leaders made a deal with the devil and Middle America was included in the bargain.

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Mike Folkerth is the author of "The Biggest Lie Ever Believed" and is not your run-of-the-mill author of finance and economics. The former real estate broker, developer, private real estate fund manager, auctioneer, Alaskan bush pilot, (more...)
 
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