Everything's (NOT) Made in China

It isn't so much the things we don't know that gets us into trouble. It's the things we know that aren't so.

—Artemus Ward (1834-1867)

How many times a day do you hear someone rant about how "everything is made in China now" or "nothing is made in the US anymore". We all know this to be true, right? Except that it's not. A report from the Federal Reserve Bank of San Francisco shows that goods and services from China accounted for only 2.7% of U.S. personal consumption expenditures in 2010, of which less than half reflected the actual costs of Chinese imports. The rest went to U.S. businesses and workers transporting, selling, and marketing goods carrying the "Made in China" label.