Kevin, didn't we have a pretty rip roaring economy in the Reagan days? Well we weren't experiencing $800 billion dollars worth of trade deficits to get it, and were not turning our nation's R&D developed over the last centry over to achieve it. We didn't have to give away missile secrets or integral production steps for our cruise missile to Communist China.
I understand where you are coming from, but like you, I think the other person is dead wrong on this topic.
I appreciate your response.
Sorry our economy is in fine shape.. Our economy is made up of winners and losers.. Winner takes all..
""Kevin, didn't we have a pretty rip roaring economy in the Reagan days? Well we weren't experiencing $800 billion dollars worth of trade deficits to get it, and were not turning our nation's R&D developed over the last centry over to achieve it""
our trade deficits were about 3-4% of GDP then..today they are 6-7%.
That difference is explained by the fact that Japan was growing at 5% annually in the 1980s and today has been stagnant for years. EU was growing at over 3% in the 1980s with West Germany at a rip roaring 5%, even the French had growth above 3%. When your trading partners dont grow, you wont be exporting to them.
our trade deficit is a sign of other countries weakness, not ours.