Fallacy #2

Now that I have attempted to dispel the fallacy of the miserable educational system in this country in last week's post I want to go on to counter another myth that seems to have infiltrated our psyche. The notion that the US doesn't produce anything anymore and that we are losing out to the Chinese is ridiculous. I hinted at this this in last week's blog but wanted to expand a little.

I suggest you watch Jim Cramer on Mad Money on CNBC to get a flavor of the number of companies that innovate and manufacture in this country. And, of course, employ a huge number of Americans. These companies are the gems of our nation and are often vilified by the liberals and the left. They compete all over the world with their products and services effectively and grow their profits and shareholder values. We should be so proud of our industry giants and not criticize their practices.

Just think of the industries that originate in the USA. We discover and sell a tremendous number of pharmaceuticals to the world which benefit humanity. We lead the world in biotechnology advances from artificial joints to catheters that open clogged arteries and robots that perform surgery. In technology, we produce chips, software, internet businesses that are used in the entire world. We manufacture beverages (coke and pepsi), diapers (P&G), cars (Ford), tractors (Caterpillar), airplanes (Boeing), weapons, energy exploration, etc. In entertainment our movies, sports and music are enjoyed the world over.

Facebook and google are well known examples of great companies that have started recently and have huge market caps. Apple is the greatest company in the world and continues to improve and innovate. And there are dozens of other less well known companies that are also innovating and growing in that sector and many others. The fallacy that we don't manufacture anything anymore is absolutely ridiculous. Our country is a wonderful incubator for innovation, discovery and creation of businesses that increase the wealth of our country and our citizens. The USA leads the world by far and will continue to outperform the world in advancing the standard of living of Americans and people all over the world.