I wanted to
publish a list of the Fortune 500 for several reasons. Our retirement funds are
likely in these stocks. I wanted to see how many US manufacturing companies
still existed and how many were absorbed. That would give me some idea of how
many manufacturing operations we will need to add to restore the US
economy. The Fortune 500 doesn’t list
private companies and does not list foreign companies who have plants in the
US, but they add a lot of jobs. The
Fortune 500 list gives us a reflection of our economy. I counted 257 companies
that produce wealth and 199 companies that consume wealth. I sorted the 456 of
the Fortune 500 list by industry.
Producing Industries
26% Manufacturing 119
9.4% Food 43
6.4% Mining 29
5.9% Energy 27
3.9% Property 18
3.2% Transport 15
1.3% Conglomerate 6
257
Consumption Industries
18% Financial Services 82
10% Healthcare 45
9.0% Media 41
6.8% Retail 31
199
Producing industries extract
resources, design, produce and manufacture, I include support industries that
allow these processes to function. Most of these industries function in the
free market economy where consumers control the prices through supply and
demand.
Consumption industries rely on debt,
government subsidies and overspending.
Manufacturing ranks first. Many
companies have been consolidated. I was surprised to see a lot of companies
still around as subsidiaries of holding companies with strange names. The US
needs 7 million more manufacturing and mining oil gas jobs to reduce the US
trade deficit and restore the middle class in the US economy.
The US will also need to reduce debt
across the board. Individuals, households,
corporations and especially government need to pay off their debts. This will
result in lower GDP as people pay off debts and buy less “stuff”. Education, Healthcare and Government costs ignore
supply and demand and need to be cut in half.
Debt growth needs to stop.
Financial Services revenue comes
from interest on loans and premiums on insurance and these need to be reduced.
Excessive government subsidies for healthcare and education have ruined these
industries and they need to return to free market control.
Media revenue comes from advertising.
Consumers need to wise up and rethink their priorities. The most advertised products
are the least necessary.
Norb Leahy, Dunwoody GA Tea Party Leader
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