Posted on 08/04/2017 6:06:38 AM PDT by Enlightened1
The U.S. trade deficit narrowed in June as exports hit the highest level in 2 ? years.
The Commerce Department says the trade gap slid 5.9 percent in June to $43.6 billion. Exports of goods and services rose 1.2 percent to $194.4 billion, the highest amount since December 2014. Services exports reached a record $65.4 billion. Overall imports slipped 0.2 percent to $238 billion.
So far this year, the trade deficit is up 10.7 percent to $276.6 billion.
A shrinking trade gap adds to U.S. economic output.
President Donald Trump has vowed to bring down America's trade deficits, saying they are caused by bad trade deals and abusive practices by China and other U.S. trading partners.
The deficit in goods with China rose 3.1 percent in June to $32.6 billion.
(Excerpt) Read more at abcnews.go.com ...
That’s June.. the ten percent devaluation of the dollar will push it back up. Banking manipulation 101.
Well how much have they been devaluing the dollar every month over the last 6 months?
Not sure about that over the long-term:
USA is just beginning to export oil and natural gas. This will go a long way towards increasing the value of the dollar and decreasing the trade deficit.
A lower dollar makes our goods cheaper to the world and imports more expensive, so...it would HELP this number not hurt it.
Well if our dollar only pays 90 cents of debt and deficit, instead of a dollar, how so? Shell game alert! Imports become more expensive as well because we lose buying power.
We will export more because we are cheaper, but beware the shell game.. our ability to pay our debt and deficit just lost 10 percent. Your dollar is worth 10 percent less.. did you work ten percent less to earn it?
“Well if our dollar only pays 90 cents of debt and deficit, instead of a dollar”
Uh, no. The dollar is dollar denominated. A dollar ALWAYS buys a dollar. It may not buy a Euro depending on currency valuations but it ALWAYS buys a dollar.
True, so you are saying my 1968 dollar is exactly the same as my dollar today?
No, I am saying that in 1986 and in 2017 your dollar cost a dollar. Numismatic value not included of course!
“We will export more because we are cheaper,”
Oil doesn’t work like that. The world wide price is SET by OPEC. If the dollar goes down, price of oil goes UP, and since we’re exporting oil/natgas, we simply get more dollars into the USA. More/cheaper dollars means faster/easier debt payoff.
Ex: When the dollar hit a low against the Euro (1.50), gas was $4/gallon. Oil $150/barrel.
Now imagine if WE were exporting oil at 150 barrel...
No country ever went broke doing that.
We haven’t exported oil in decades, it’s a game changer.
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