Economic Food Chain

I rank manufacturing as the number one economic component necessary to maintaining an economy. The most important industry the US needs to repatriate is Electronics Manufacturing.

I was stunned to hear the announcement of the “Information Economy” in 1993. My reaction was to say “and the “information” isn’t good”.

Allowing electronics development and manufacturing to move to Asia was a strategic mistake made by our hapless government and incompetent corporations.  It was a treasonous act of sovereign suicide.

Electronics is the platform we rely on for defense, utility and banking security. Electronics is the most important manufacturing activity we should have in the US. It includes software development. The last thing we need to do is allow our enemies to be the software developers. Cyber-crime and cyber terrorism need to be defeated to protect our utilities and financial systems.

The manufacture of other items we buy as consumers should be manufactured in the US. We need to be self-sufficient and there is no reason we can’t make everything we buy from factories in the US with products made by US citizens. There is no reason we can’t return to making our own kitchen and home appliances and furniture.

Supporting our survival requires food, water, energy and raw material from agriculture, mining and forestry. We need to expand all production to reduce imports.

Capital is needed to invest in equipment needed to remain competitive and is dependent on retained earnings and continual improvement. Corporations borrow too much and make too many expensive mistakes.

The production of necessities tops my list of “required” industries. These are the products we all use every day and structures we need to comfortably survive.  It includes food, water, sanitation, penicillin and a sense of humor. We need homes, cars, jobs and savings to become economically self-sufficient. We need cooling, heating, roads, highways, bridges and telephones. We need soap, toilet paper, clothes, furniture and other manufactured things.

I don’t include products and services that are “luxuries” or “questionable” as necessities. This includes extravagant expenditures, expensive vacations, unnecessary medication, unproductive investments, obsessive shopping and fads.

There are things we may need, but many of these things are not offered to benefit us; they are offered to benefit those who sell these products and services. These are the things that are “over-advertised” and they are not necessities. They appeal to our weaknesses and encourages our lack of self-sufficiency. We need to prioritize our discretionary spending to avoid debt.

People who have money have it because they don’t spend it. They keep it to fund necessities. They are not obsessive consumers.

The best education is self-education. Once we learn how to look things up, we can proceed.  The best insurance is self-insurance. Adequate savings, investment, level-headedness and earning capability can replace most insurance.  The best healthcare requires patients to take responsibility for preventive measures and treatment options. 50% of the US population has no health issues.

Avoiding interest and rental expense is important. It is best to own the land and the building for homes and businesses. The only debt worth paying mortgage interest on is a single family home or business location. The best deal is a 15 year mortgage. Once these mortgages are paid, your monthly expenses are cut in half. If you are careful, the property you buy will appreciate in value if you maintain and upgrade it, further adding to your net worth.

Avoiding buying things you really don’t need is important. It is best to buy reliable necessities that last a long time to avoid having to replace these things too often.  A car that lasts 300,000 miles is a good example.

Norb Leahy, Dunwoody GA Tea Party Leader