No, people aren’t wearing less clothing. More’s the pity! No, this one’s about outsourcing, folks. Industry revenue is down more than 50% since 2002, and it’s expected to drop another 3.8% over the next five years. The garment-making industry is trapped in a vicious cycle: more outsourcing means less revenue, which means more outsourcing, and so on. The victims of the Triangle Shirtwaist Factory fire might approve, but otherwise it’s bad news for Hanes (NYSE:HBI) and others.