"The other 90% is subsidy, currency manipulation, environmental practices run amok and labor practices that are simply deplorable," Leo Hindery Jr., chairman of the U.S. Economy/Smart Globalization Initiative, told the Conference on the Renaissance of American Manufacturing held on Sept. 28 in Washington, D.C., according to Industry Week.
Hindery a longtime telecommunications executive, stressed that the nation's "real unemployment" stands at 22 million, and that it will rise by 150,000 jobs every month unless drastic action is taken. "We simply cannot close the gap of jobs of that magnitude without acute attention being paid to the manufacturing sector," he noted.
Hindery was one of Obama's economic advisers, umm, during the campaign. Natch, we ended up with Larry Summers oozing into the White House instead.