If hawkaw were to trade 1010RD something and I pay for it in full where does the deficit occur?
When hawkaw buys groceries and pays $100 for $100 worth of groceries where is the deficit?
You travel to Germany or Japan or China or Australia and spend $1000 there buying $1000 worth of goods or services. Where is the deficit?
A trade ‘deficit’ implies that you or the seller stole something, that the trade wasn’t free as in free will, or that you didn’t get what you paid for.
For instance a butcher is selling ground beef steak for $1/lbs. You order five pounds, but he only gives you four and a half pounds. In this case you’d have a legitimate deficit of half a pound of beef.
It doesn’t matter that the butchers rich daddy is supplementing the low price with his wealth from another endeavor. If instead you received your full five pounds there would be no deficit.
It’s that the transaction is complete upon an agreed upon sale quantity and price. CNN knows this. It is basic economics.
The term ‘trade deficit’ is an invention of the Left, central planners and mercantilists. Look up mercantilism. The Democrats use trade deficit to push unionism and protectionism for their favored group or industry. It’s a lie and always has been.
Thanks for that. I appreciate it.