When you buy more from the grocery store than the grocery store buys from you, you have a trade deficit with the grocery store.
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Wakanda has no trade deficits
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“Trade deficit” is a made up term meant to scare people into supporting economic isolationism and protectionism.
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As Murray Rothbard said, no one has ever cared about the "trade imbalance" between New York and New Jersey.
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Can you send this thread to Fox and Friends so that the show's #1 fan can see it? It seems short enough for his attention span.
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Agreed! The problem is that this household is/has been consuming far more than it produces and going into debt to do it. A problem that cannot be solved with tariffs or trade wars
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Absolutely untrue. The USA produces and manufactures more now than ever before, but not primarily consumer goods. Our production is now of things like airplanes, helicopters, heavy machinery, tractors, etc. We sell these goods back to the rest of the world.
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You can’t just look at absolute value of production. It’s about production relative to consumption. We consume far more than we produce. Hence the massive trade deficit.
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I run a trade deficit with Wallmart and no one worries. Not even me.
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No no no. This is so wrong. Trade deficit with any given country or for any given year not a problem. But deficit overall year after year is
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Try spending way more than you earn year after year for a few decades. See how that works out for you.
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So-called deficit hawks never figure out that, “the govt has no choice but to allow its budget deficit to rise unless it is prepared to sacrifice full employment... if uncorrected trends in foreign trade cause the balance of payments deficit to increase.” http://mikenormaneconomics.blogspot.com/2011/03/wynne-godley-on-fiscal-deficits-and.html?m=1 …
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Absurd! entitlement spending must be addressed! Paul Ryan's resignation is symbol of GOP's retreat on this key fiscal issue!
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You’re assuming facts not in evidence. No fiscal reason to ever address entitlement spending (except perhaps to make it more generous).
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You are economically delusional! When investors demand much higher interest on debt until it crowds out other spending, then people like you may see the light! Hyper-inflation will address that excessive entitlement spending !
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So what you’re saying is that the private sector has too many government issued dollars. Who do you think has all those excess dollars? The poor? The middle class? The super wealthy?
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Not to speak for Mr. O'Hara but I don't think that is what he is saying. I think he is saying the government doesn't have enough money (dollars) to meet its expenses, which is why it continues to go further into debt and that can be a problem.
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good thing we have this capitalist world then, where only billions of people are in poverty and tens of millions are enslaved. phew, close one
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The simple solution for people who are concerned about trade deficits is to buy locally produced produces. (We all know most won't). Thinking government will fix things is never the answer.
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