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Maybe maximizing corporate profits isn t all that matters. Maybe national security and resilience matter, too, and if they do, then reshoring critical supply chains should be a higher priority than Corporate America s (mostly tax-free) profits. As America s trade deficit explodes higher and the costs of offshoring supply chains mount, the apologists for globalization are out in full force, attempting to shout down reality with their usual specious claims about how amazingly wunnerful globalization has been for America. Allow me to tote up the real-world cost savings: Cost of cheap ill-fitting jeans dropped $10. Cost of low-quality TV that will only last a few years dropped $50.

United statesLong beachWest germanyWolf richterServices trade surplusWorld trade organizationCorporate americaWestern europeAsian tigersCold warJust keeps getting worseAmerican dream not come trueYear lowTotal trade deficit explodesWorst everFinancial crisis