Steven

I get why people would say that because it's true that we have lost a lot of manufacturing jobs in the last 50 years. I think manufacturing jobs peaked in the late 1970s. And we've lost something like 10 million manufacturing jobs versus what we had back then. And I get why if I was in that situation, I would probably feel the same.

Where I'd push back is the situation that we had in the 1950s and 1960s, where it was just America manufacturing powerhouse, were a very unique period that I think is virtually impossible to bring back. And I'll tell you why. At the end of World War II, 1945, Europe and Japan were in rubble. They were decimated from the war. America was not decimated whatsoever.

Where I'd push back is the situation that we had in the 1950s and 1960s, where it was just America manufacturing powerhouse, were a very unique period that I think is virtually impossible to bring back. And I'll tell you why. At the end of World War II, 1945, Europe and Japan were in rubble. They were decimated from the war. America was not decimated whatsoever.

And so we had basically a global manufacturing monopoly for a period of time. China was not in the equation. South Korea was not in the equation. India, Bangladesh, they were not in the equation. It was basically Japan, the United States, and Europe, two of which were just struggling to feed their citizens.

And so we had basically a global manufacturing monopoly for a period of time. China was not in the equation. South Korea was not in the equation. India, Bangladesh, they were not in the equation. It was basically Japan, the United States, and Europe, two of which were just struggling to feed their citizens.

And once they got that under control, it was like, we have to rebuild the damage from the war. So America had about 20 years from 1945 to the mid-1960s of... we have a manufacturing monopoly. And then we had 16 million US soldiers come home from the war. And there was so much pent up demand for them to buy homes and washing machines and cars and radios and all these things.

And once they got that under control, it was like, we have to rebuild the damage from the war. So America had about 20 years from 1945 to the mid-1960s of... we have a manufacturing monopoly. And then we had 16 million US soldiers come home from the war. And there was so much pent up demand for them to buy homes and washing machines and cars and radios and all these things.

And all of them were built in America because nobody else could build them. And that created a really special time when like because we had a manufacturing monopoly, it was just like factories everywhere. We built up so many factories during the war. There was endless demand for those products. And this is an important part too.

And all of them were built in America because nobody else could build them. And that created a really special time when like because we had a manufacturing monopoly, it was just like factories everywhere. We built up so many factories during the war. There was endless demand for those products. And this is an important part too.

White collar workers during that period didn't make that much money relative to what they did before or since. And that was important because the wages that the blue collar manufacturing workers were earning felt great by comparison.

White collar workers during that period didn't make that much money relative to what they did before or since. And that was important because the wages that the blue collar manufacturing workers were earning felt great by comparison.

So if you were an auto worker in Detroit and you compared your wage in 1955 to the local accountant or dentist or doctor, by comparison, relative to today, you're like, oh, it's pretty good. Yeah, the doctor makes more than me, but not that much more than me. I drive a Chevy, he drives a Cadillac, his is a little bit nicer, but we're living mostly the same lives.

So if you were an auto worker in Detroit and you compared your wage in 1955 to the local accountant or dentist or doctor, by comparison, relative to today, you're like, oh, it's pretty good. Yeah, the doctor makes more than me, but not that much more than me. I drive a Chevy, he drives a Cadillac, his is a little bit nicer, but we're living mostly the same lives.

And so I think that was a lot of the feeling of prosperity in the 50s and 60s was this very unique period of manufacturing monopoly as Europe and Japan were rebuilding. And by comparison to other workers, it felt amazing. And then at about the 1970s, Japan and Europe had gotten themselves back together from the ravages of World War II, and they became manufacturing dynamos in their own right.

And so I think that was a lot of the feeling of prosperity in the 50s and 60s was this very unique period of manufacturing monopoly as Europe and Japan were rebuilding. And by comparison to other workers, it felt amazing. And then at about the 1970s, Japan and Europe had gotten themselves back together from the ravages of World War II, and they became manufacturing dynamos in their own right.

And I don't think we really understood this in America until three companies came in, which were Toyota, Honda, and Nissan, and they started selling cars in America. And at first, it was very easy to be like, look at these little lawnmower toys that they're importing. Because you compared an early Honda Civic to a Chevy Camaro in the 70s. And it was like, you can't even compare them.

And I don't think we really understood this in America until three companies came in, which were Toyota, Honda, and Nissan, and they started selling cars in America. And at first, it was very easy to be like, look at these little lawnmower toys that they're importing. Because you compared an early Honda Civic to a Chevy Camaro in the 70s. And it was like, you can't even compare them.

So at first, the reaction of American car companies were like, these guys are a joke. No one's going to buy these little cars. But then gas prices surged in the 70s and 80s. And all of a sudden, the cars that Americans wanted

So at first, the reaction of American car companies were like, these guys are a joke. No one's going to buy these little cars. But then gas prices surged in the 70s and 80s. And all of a sudden, the cars that Americans wanted

was the tiny little honda civic that got really good gas mileage and then once they started buying them they're like hey this toyota this honda this nissan it's actually a pretty good car it's actually pretty well built and i think there was a lot of denial among that among american manufacturers that other these other nations that we that didn't exist for 20 years in terms of a global manufacturing source we're actually pretty damn good at it now and then one other thing happened to wrap to wrap this up then this might be the most important part of it