Inflation will soar if US doesn't re-industrialize
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Bernstein has been calling for a reindustrialization of the US economy over the past decade. In 2012, he published a whitepaper calling for an "industrial renaissance," which would take US manufacturing back to levels recorded in the 50s and 60s.
Iām always a little wary when the prescription stays the same even while the diagnosis changes over time.
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They don't just need to manufacture, they need to make it competitive, which is easier said than done. There's a reason everything went offshore.
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