10 foreign-owned 'American' brands
Each of these products, buildings or businesses is rooted in the United States and has become a part of the common cultural fabric.
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If corporate bigwigs would stop paying themselves such obscene salaries and mind boggling bonuses, maybe then they could afford to pay American workers decent wages and we would still be able to honestly and proudly say "MADE IN AMERICA"! It's shameful that these companies couldn't show a profit & growth for us but apparently can for foreign executives. John Hancock must be SPINNING in his grave-SHAME ON ALL OF THE 'POWERS THAT BE' for selling us out.
All ten brands are owned by Europeans and Japanese, not Chinese. However, China is actually the biggest creditor to America. That s because America has been a consumer country in the past 30 years and we have been buying more than selling to all the producing countries, including Taiwan and Japan in the 80s and now China. As these producing countries earning more USD, they are investing their dollars in US government backed treasure bills and name brand US assets. Is it better or worse? It s matter of facts as we lived in a globle economy. Not until we becoming a producing country, there will be more debt to the foreign countries and more US assets to be bought by the foreign countries..
I'm sure there will be many more short sighted comments like MyDogandI's.
This is how capitalism works.
There are many American companies that own foreign businesses too.
The biggest myth people believe about the economy and why it is worse sometimes than others is that "we don't make anything in America any more", which just isn't true.
I think it has to do with what people can see with their own eyes, proverbially speaking. People see that China and other countries do a lot of manufacturing and they see the physical products we buy with the foreign made labels.
However, America produces a lot of things, only most of these things aren't as easy to "see with your own eyes". For instance, many of the products you buy were conceived and created in America, even if they aren't physically manufactured here. We produce a lot of technology in many sectors, but one of the biggest is software. Also, American entertainment, like movies, TV shows, books, comics, and video games, are consumed all over the world.
If America "doesn't make anything anymore", then we would be in way more debt than we are now. We're in debt because we are spending too much (well having some debt is okay), not because we're not selling enough things.
Now I admit, having so much manufacturing outside of the country does have an effect. It means that there are less blue collar jobs available and more white collar/grey collar jobs available. This means it's tougher for people without the skills for a white/grey collar job to find "good" jobs, but saying that we don't make anything anymore is very misguided.
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