Is something wrong with this picture?...
Our service sector represents about 70% of our economy (insurance is obviously a part of that), while manufacturing is just 11%.
But... supposedly it’s innovation / productivity that determines whether a country will be successful in manufacturing (not cheap labor).
So – we rank 4th amongst the most competitive nations in manufacturing despite our labor costs.
How come our manufacturing sector is so depressed?
If you bought/held a balanced stock/bond mix in year 2000, you would have had an annual gain of 4.3% through 2009.
If you were all cash, it would have been 2.6%.
A professional money manager who could bet on or against stocks during that same period, returned no more than cash did for that same period.
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