This pledge closed about 3 years ago
Almost 70% of the value of our GDP (that is our economy) is based on the performance of the stock market. This is because we have dismantled the nation's production/manufacturing capacity; that leaves nothing other than gains made from speculation to give our economy value. This hurts EVERYBODY. Therefore it's in EVERYBODY'S interest, regardless of political or ideological affiliation or lack thereof, to help rebuild our nation's producing capacity by taking the pledge to buy American. If we continue to support corporations which have outsourced jobs, we will inadvertently continue to support economy instability and income disparity.
This lop-sided 70% Wall Street GDP ratio MUST be reversed because:
NEVER ENDING RECESSIONS
The speculation-induced ups and downs of the stock market, because they represent such a large portion of the nation's so-called economic value (GDP), cause significant and constant economic instability; if this is not changed our economy will continue to experience severe ups and downs as it has in the last two decades* ( *in these last decades manufacturing has been slowly eliminated from the GDP). Like a drunken gambling father, those reckless Wall Street "investors" are continually leaving our economy in the poor house. The only way to prevent Wall Street from continaully high jacking our economy is to BRING BACK PRODUCTION JOBS and make the GDP stand for gross domestic PRODUCT once again, not gross domestic GAMBLING.
THE RICHER GETTING RICHER
The income that is generated by this 70% of Wall Street GDP is being divided out to 1% of the richest people in the nation. THIS IS WHY THE RICHER ARE GETTING RICHER. In a healthy economy, every purchase would lead to dividing income in several directions: skilled laborer, entrepreneur, lender, service providers to the manufacturing operation (insurance, consultants, marketing, facilities maintenance), distributor, retailer, retail employee, the list goes on. By outsourcing manufacturing corporations cut out half the people and entities that would get paid the most out of everyone involved. All the while on the sidelines investors gamble on whether or not that product will sell and when. These Wall Street speculators are an UNPRODUCTIVE part of the whole process. And we are making them rich by purchasing products from companies which they use to gamble on, and which do not produce products in the USA, thereby preventing the distribution of profits to skilled laborers, service providers, etc here in the US. On top of that corporations avoid paying taxes by HIDING PROFITS abroad, while still paying their shareholders - not to mention the rich do the same thing. This makes the working class poorer by way of being left with a higher tax burden. Stop making the rich, richer! Buy made in USA. Most importantly buy from small operations. And if you really want to get involved take the advice of the American Manufacturers Association: "Keep Calm and Make Something"!
Wall Street does not have to own our economy, it didn't in the past. This is a monster that lives off our own greed and ignorance. If we come together and support manufacturers and producers here in the USA, then Wall Street, and the 1%, will end up with an increasingly smaller piece of the American pie.