Second, although it may appear that virtually everything sold at Walmart is made in China, most American consumer spending stays in the United States. A 2011 analysis by Galina Hale and Bart Hobijin, two economists at the Federal Reserve Bank of San Francisco, found that 82 percent of the goods and services Americans purchase are produced entirely in the United States; this is largely because we spend that vast majority of our money on nontradable services. The total value of imports from China amounted to less than 3% of US consumer spending.
Saturday, June 27, 2015
Rise Of The Robots: An Interesting Note On American Spending
So my new read is Rise of the Robots. There is an interesting note on page 53: