[VIDEO] Where our economy can get a much-needed boost: Manufacturing
Posted by Bert Maes on July 1, 2010
In the video below, financial (!) expert Vishesh Kumar explains why we should focus on high end manufacturing to truly move beyond the recession.
Lot of people are clammering for stimulus right now, Vishesh says, but that is NOT really what our economy needs. Current spending plans are feeding the elements in our economy that are too shaky.
What we need to do is providing adequate funding and invest in ventures that could be profitable over the long term. That includes manufacturing that is at the high end. Today growth is very strong in these items.
MSNBC.com indeed just reported that “mid the nation’s slow and stubborn economic recovery, an unlikely sector is showing surprising strength: manufacturing. The indisputably old economy stalwart has been growing and adding jobs in recent months, with companies ranging from equipment manufacturing Caterpillar to automaker Ford reporting an uptick in orders and business.”
“Manufacturing is the sector that’s been growing most strongly,” said Paul Ashworth, senior U.S. economist with Capital Economics. Manufacturing is the bright spot!
But will the manufacturing sector have enough fuel, can we prolong our current robust manufacturing growth?
Yes, Vishesh, says, if we focus on sectors that can step up and lead, on resources that will feed sustainability, resources “that feed high end manufacturing“.