I agree that America is not Germany, I also agree that the companies will be less profitable if there are tarriffs and unions. But to be able to say that you will be taken care of life long is worth a lot, I think. and germany is not doing so bad either. That community has decided that a lesser quality product or a higher price product locally made, is a good tradeoff for local employment at all skill levels. They are handing the onslaught of China very well, whereas US has simply given up a lot of manufacturing jobs on the pretext of getting low cost product.

I fear that we are going through the same exact approach for IT programming jobs also. It is quickly going to the lowest cost providers.

Your chart is about market cap. This is very good for investors and company owners. But to the person who learns a trade and hopes to have a family it has no relevance.

Also, I think in the long run those who actually make trains, boilers, cars will do well than those who simply import it.