The Rewarding Impact of Buying American!
As sung in our national anthem, the United States of America is “the land of the free and the home of the brave.” Through times of war and times of peace, the American people set their sights high and pursue their happiness by following their dreams. The American dream of being an entrepreneur in our great nation. The start of any new American business can have a significant and beneficial impact on its surrounding community.
Harry Moser, the founder of Reshoring Initiative, made it his mission (after a successful career) to bring home several hundred thousand jobs and services to our country after they had previously been outsourced. Mr. Moser’s company is not the only one focusing their efforts to strengthen the U.S. economy in this way. According to a 2021 Annual Report on the State of North American Manufacturing, 83% of North American manufacturers say they are “likely or extremely likely to reshore.” This percentage is significantly up from March 2020, when 54% of manufacturers reported that they were “considering taking steps to reshore” (https://business.thomasnet.com/state-of-north-american-manufacturing-2021-ualp).
This is good news for all of us – those jobs will go to fellow Americans. This is a vital step should we wish to autonomize our country. For further information regarding this period in American businesses, please reference my past blog post Leaving China (May 2020), in which I discussed the effects of past trade negotiations with China and its impact on America.
There is an undeniable ripple effect that happens when we buy from companies selling American made products. It goes a little something like this…
- Joe Smith gets hired as a carpenter.
- Joe Smith goes to the local shoe store to buy a pair of shoes for his new job.
- The shoe salesperson pays the shoemaker for supplying the well-made shoes.
- The shoemaker pays a leather provider.
- And the list goes on and on.
By the dawns early light, courageous American men and women make a living for themselves and their families and support their community. Stay tuned for our next blog where we will highlight American business owners and their experiences as such. Stories of resilience, hope and evolution – proof that our flag is still here.
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The views and opinions expressed herein are those of Robert Restino and may or may not represent the views of Lincoln Investment. The material presented is provided for informational purposes only. Nothing contained herein should be construed as a recommendation to buy or sell any securities. As with all investments, past performance is no guarantee of future results. No person or system can predict the market. All investments are subject to risk, including the risk of principal loss.