"And watch while we are plunged into a recession due to a huge disruption in global supply chains."
WHAT supply chain? There is NO supply chain anymore. JIT (Just-In-Time) inventory has been replaced by BLTN (Better-Late-Than-Never) and AGNM (Ain't-Got-No-More) inventory.
Went to a large box store on the weekend. They had empty containers marked "Display" on the shelves. Two different employees explained that I should put empty containers for the desired items in my cart and, upon checking out, they would retrieve a full container of each item "from the back". Both assured me all displayed items were available.
Got my display containers and proceeded to check out. Was informed that two of three displayed items were not available. I suggested to the clerk "So now you'll take these two items off display?" He replied "No, they'll probably be back in stock next week."
I left the store w/o purchasing anything and they'll never see me again.
We may be in a recession right now because we can't buy quality goods AT ALL! I've bought five new fingernail clippers in the last six months and, for God's sake, they won't cut my nails! They're all made in China.
Many, if not most Chinese goods, especially machine tools, remain as they were 14 years ago: low quality and every item different with no standardization. And they've driven many good US manufacturers out of business. Why? Because workers buy shitty tools for one-time use, bill the customer for the work and for the tools and then throw away the tools when they're done. Of course no one's considering the external factors here: cost of shitty tools in poor workmanship, longer production times and accidents.
"How do you think people will react to a 10% increase in prices for almost all goods?"
If it convinces American manufacturers to produce quality products then it's great news.
Generally you'll have a number of options with pros/cons of each to select from. Often things are a little on the pricier side - but that price is for quality. Not all items are meant "for life" unfortunately, but a good 5-10 years is better than 5-10 weeks.
The evidence is far more than anecdotal. Anyone who is an active tool user could provide more - ask your local mechanic. The experience I describe is almost universal and transcends the term "anecdodal".
I think that outside the US, the reputation of US-made good has never been particularly strong. We see US cars, and compare them to Japanese cars and see mostly failings.
So far as Chinese goods go, I have no particular knowledge of wrenches.
However, I'd note that (Chinese made) Apple products are generally of pretty good quality.
I'd also point out that the ZeroHedge article doesn't really make a strong case that quality is decreasing at all. And you realize the Onion is a parody, right?
My point was that _everything_ I could post myself would necessarily be "anecdotal", but that anyone willing to do a google search can find millions of remarks: e.g.,
Go to a hardware store and try out a few tools from various countries. You'll see what I mean. _Pay_ _attention_ to the world you live in and the tools you and others use every day. In my case, my fingernail clippers failing (not one, but two pair, from different Chinese manufacturers, within weeks of each other) was the straw that broke the camel's back.
Instead of asking me to provide hard statistical evidence on these forums, I expect you internet wunderkinds to write a one-off ML tool to scrape the internet for "anecdotal" evidence, collate it, translate it with your neural net NL software, correlate it, and finally analyze it as your own statistical evidence. Maybe you'd even share it with others, but that isn't necessary.
nl: "I'd also point out that the ZeroHedge article doesn't really make a strong case that quality is decreasing at all.":
I can only assume you read an article other than the one I linked to.
And yes, I intentionally put the Onion article in there, because it is funny. But some people have no sense of humour and are unable to resist pointing out the obvious.
WHAT supply chain? There is NO supply chain anymore. JIT (Just-In-Time) inventory has been replaced by BLTN (Better-Late-Than-Never) and AGNM (Ain't-Got-No-More) inventory.
Went to a large box store on the weekend. They had empty containers marked "Display" on the shelves. Two different employees explained that I should put empty containers for the desired items in my cart and, upon checking out, they would retrieve a full container of each item "from the back". Both assured me all displayed items were available.
Got my display containers and proceeded to check out. Was informed that two of three displayed items were not available. I suggested to the clerk "So now you'll take these two items off display?" He replied "No, they'll probably be back in stock next week."
I left the store w/o purchasing anything and they'll never see me again.
We may be in a recession right now because we can't buy quality goods AT ALL! I've bought five new fingernail clippers in the last six months and, for God's sake, they won't cut my nails! They're all made in China.
Many, if not most Chinese goods, especially machine tools, remain as they were 14 years ago: low quality and every item different with no standardization. And they've driven many good US manufacturers out of business. Why? Because workers buy shitty tools for one-time use, bill the customer for the work and for the tools and then throw away the tools when they're done. Of course no one's considering the external factors here: cost of shitty tools in poor workmanship, longer production times and accidents.
"How do you think people will react to a 10% increase in prices for almost all goods?"
If it convinces American manufacturers to produce quality products then it's great news.