If an iPhone were made in America, it would cost more than $2,000. The price increase for most consumer goods (and components of American made goods) currently made in China would cost 200-300% more if they were brought back to America, and that’s not including initial investment costs to build all those factories.
Higher prices would also dramatically decrease sales of American products in other countries reducing the stock market value of these companies and limit national economic growth opportunities.
In 1971, one ounce of gold cost $35. Now it costs $1722, a 4,820% increase. One reason why is the same what caused the decoupling in 1971 – the value of the dollar is decreasing. The $3,000,000,000,000 printed this year alone will further drive down the real value of the dollar.
Cheaper goods from offshore manufacturing is one key factor why prices of goods in the US haven’t dramatically increased to cover the cost of a weaker dollar. Full inflation costs have been hidden from view through the process of propping up the middle class lifestyle with cheaper goods.
Globalism has made the middle class lifestyle affordable while hiding the cost of inflation. Our currency is in too much debt and or economy too reliant on others to become isolationist. As the Marshall Plan is the foundation of what “made America great,” the only viable path forward is a new Plan.