A Deficit Is A Gain !
Down Is The New Up !
Equality Is Racist !
God how the Powers That Be hate Trump.
They see their bought and paid-for access slipping away.
Have you ever been to China?
Try to find ANYTHING there that is made here at any store on the street. Let me know when you do.
The only real exports we have to China are food and airliners.
Your free trade argument is bogus.
Another idiot that flunked Econ 101. A trade deficit is bad, it is an outflow of wealth from this country.
I guess none of these people remember when this country was a creditor nation and not a debtor nation.
I am continually astounded by the stupidity of those writing finance.
Lol, who is this clown? When the products being exported to the US are products that were once produced in the US, yes it is a loss of millions of jobs and hundreds of billions of economic activity now taking place in some cheap labor nation, and not in the USA.
They must open their markets to our goods equally, or is not free trade.
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Tariffs are constitutional and the only original constitutional method for revenues. So if you don't like tariffs (which don't ban you from buying) move to China.
Free trade has been a failure and jobs lost are greater than the export jobs gained. There is a company I know of personally that made a fortune stripping American factories completely and exporting them to China so they can be re-assembled there. I don't mind seeing those export jobs dry up. Our other main export to China is our timber and scrap metal.
You should go read “Wealth of Nations” by Adam Smith , obviously they didn’t teach much when you were in school.
As a side note, pardon me for screaming,
THE WORLD NEEDS THE USA, WE DON’T NEED THEM!!
So now, a deficit is not a loss, but a gain?
With trade, you either have a surplus or a deficit, but now, this financial genius would have us believe that black is white, up is down and we are too stupid to know the difference.
Higher prices, higher cost of doing business, wages have less value, lower standard of living.
https://www.youtube.com/watch?v=7DhagKyvDck
thanks for your post..
He’s right - underwear at Walmart does indeed cost less. But, if you stop the accounting there you’re willfully ignorant. The costs associated with all the dislocations fall to the taxpayers and homeowners. All the gain goes to the smaller group of investors. Silly libertarian free trade is a net loser - the facts are in. We’ve deindustrialized america. And there’s hell to pay. Couple that with open borders, a debt fueled welfare state and nation building and your looking at the end of the greatest country ever.
“Trump’s logic seems to be this: Low-wage countries where workers get paid a fraction of U.S. wages are basically undercutting American workers, and therefore ought to be punished.”
This guy is an idiot. Both in economics and on facts: what Trump has stated:
“China is manipulating their currency”
Everyone past 5th grade knows this is the problem, even Romney.
The problem with trade deficits, is persistent trade deficits. That did not continue forever in the nations which have historically done this, from Rome to England.
It’s great while it’s happening, but it is unsustainable. Sort of like supplementing shortfalls with credit cards and then assuming that income level to be the new normal.
If you go to a single market, and I think that’s why these guys are being so irresponsible, then you can realign everyone’s fortunes. Leveraging your nations future for short term gain might seem like a non issue if you are working under the assumption that your nation has no future.
Since this author - or evidently you as well - fail to understand WHY there is a huge trade deficit with China, I’ll explain it.
China’s false pegging of the yuan to the dollar ensures a positive trade flow no matter what. That is currency manipulation, to favor their exports over our goods. It was part and parcel of the Clinton sell out of the US, followed by the Bush administration.
By threatening tariffs on Chinese goods, leverage is given back to the US to force the Chinese into allowing their currency to be traded at its real value versus an artificial one. That will bring goods manufactured in the US on par price-wise with Chinese goods, bringing manufacturing back to the US. There will never be large scale buying of US goods in China, where the average salary is almost nothing.
No other candidate - ESPECIALLY CRUZ - says anything about our trade with China. But since Cruz worked at the FTC for Bush, implementing this “free trade”, that’s no surprise.
Trade imbalances are a disaster. What utter BS. This economic voodoo is why Trump is wining.
Trump for President.
I buy a lot on Ebay, over 90% of all goods is made in China.
Quality is garbage, even when you think you get a good deal its usually short lived, your battery explodes, your led or hod light quits early, your supposedly affordable steel item that can be anything from a simple utility knife to automotive parts is sub grade.
And so you just buy more because you cannot even find good stuff made in America.
I say shut down all crap from China, that alone will improve Ametica. China deliberately sells us inferior cheap products to lower our standards of living.
A stat I have never seen, but would love to see.
Of all the goods the US imports, how many of those are authentic products from some foreign nation, and how many are products of US owned companies that moved production to take advantage of cheap labor in a foreign nation?
How much of what we import from Mexico are authentically Mexican products, and how much simply US company products produced in Mexico?
Much of what is now loosely called trade is not even trade, it’s capital and technology relocation to cheap labor nations. Or, trading cheap labor for US factories and jobs for those who still like the simple little word “trade”.
That giant flushing sound is the neocons’ New Whirled Order, going down the tubes.
A Deficit Is A Gain !
Down Is The New Up !
Equality Is Racist !