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To: Worldtraveler once upon a time

For an economy that is toxic waste, the US sure comes up with a ton of useful and high-quality stuff involving serious amounts of R&D that foreign customers buy in copious amounts. For instance, the Android and iPhone operating systems that operate to 100% of the smartphones on the planet. Caterpillar tractors and associated equipment that are involved in putting up buildings and bringing in harvests. Boeing aircraft that are close to half the worldwide commercial airline fleet. Whereas Russia sells oil, gas, diamonds, titanium and so on, things that involve very little in the way of human creativity.


14 posted on 04/08/2022 7:46:28 AM PDT by Zhang Fei (My dad had a Delta 88. That was a car. It was like driving your living room.)
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To: Zhang Fei
Useful stuff, but what is the deficit whch continues to widen the national debt? Positive in favor of the US? Or negative? Income versus out going?

"The trade deficit in the US remained near-record levels of $89.18 billion in February of 2022, compared to $89.22 billion in January as imports continue to soar amid robust demand and rising oil prices. Imports were up 1.3% to hit a record high of $317.8 billion, on higher shipments of crude oil, other chemicals and petroleum products, fuel oil, and capital goods."

Source: https://tradingeconomics.com/united-states/balance-of-trade

Yup. "...higher shipments of crude oil, other chemicals and petroleum products, fuel oil, and capital goods."

And "Trade deficits were recorded with China ($41.2 billion), the EU ($17 billion), Mexico ($9.8 billion) and Canada ($6.8 billion). The goods gap with Russia widened to $2.1 from $1.6 billion. source: Bureau of Economic Analysis (BEA)"

Sounds like our nation is on the deficit side of the column regularly, and not on the earnings side, in spite of your prose "that foreign customers buy in copious amounts."

18 posted on 04/08/2022 7:57:40 AM PDT by Worldtraveler once upon a time
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