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  • US trade deficit jumps

    The US trade gap with the rest of the world jumped to a 10-year high of $621bn (£472.5bn) last year, dealing a blow to President Donald Trump's deficit reduction plan.

    https://www.bbc.com/news/business-47472282
    "Ask not what your country can do for you"

    Left wing, Right Wing same bird that they are killing.

    you’re entitled to your own opinion but not your own facts.

  • #2
    TThats because those foreigners are ripping
    you off!!
    Especially those damn Canadians!

    If only the US had some smart, successful businessman to sort out the economy...

    Comment


    • #3
      The interesting Jump was with Mexico thought Trump fixed that.

      Comment


      • #4
        Originally posted by Freebird View Post
        TThats because those foreigners are ripping
        you off!!
        Especially those damn Canadians!

        If only the US had some smart, successful businessman to sort out the economy...

        He already renegotiated NAFTA and you're saying we're still being ripped off?

        I suppose we do need a successful businessman instead of one that has gone bankrupt.

        Comment


        • #5
          Originally posted by TactiKill J. View Post

          He already renegotiated NAFTA and you're saying we're still being ripped off?

          I suppose we do need a successful businessman instead of one that has gone bankrupt.
          Senate hasn't voted on the NAFTA replacement yet, so it's still in force.

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          • #6
            Originally posted by TactiKill J. View Post

            He already renegotiated NAFTA and you're saying we're still being ripped off?

            I suppose we do need a successful businessman instead of one that has gone bankrupt.
            Four times . . . .
            I was married for two ******* years! Hell would be like Club Med! - Sam Kinison

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            • #7
              Originally posted by Freebird View Post

              Senate hasn't voted on the NAFTA replacement yet, so it's still in force.
              The new deal is meaningless.

              Even the ones that look more plausible, such as the implementation of the new NAFTA, seem unlikely to move the needle. After all, the new NAFTA looks an awful lot like the old NAFTA, plus some language cribbed from the Pacific trade pact Trump pulled us out of.
              https://www.washingtonpost.com/opini...=.e0fe3abed671

              If we were being ripped off then, we're still going to be ripped off in the future even with Trump's renegotiation.

              When the agreement was announced I asked what changed in the new deal that would improve our economy and no one was able to provide an answer.

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              • #8
                Originally posted by TactiKill J. View Post

                If we were being ripped off then, we're still going to be ripped off in the future even with Trump's renegotiation.

                When the agreement was announced I asked what changed in the new deal that would improve our economy and no one was able to provide an answer.
                China is the big offender, if he gets a good deal it will matter.

                It won't look good if he botches the negotiations

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                • #9
                  He well
                  "Ask not what your country can do for you"

                  Left wing, Right Wing same bird that they are killing.

                  you’re entitled to your own opinion but not your own facts.

                  Comment


                  • #10
                    How much has the earning power of the U.S. population increased under Trump? With more money people will want more things thus an increase in the trade deficit.
                    Politics is the art of looking for trouble, finding it whether it exists or not, diagnosing it incorrectly and applying the wrong remedy. -- Ernest Benn

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                    • #11
                      Originally posted by Tsar View Post
                      How much has the earning power of the U.S. population increased under Trump? With more money people will want more things thus an increase in the trade deficit.
                      In the time Donald Trump has been in the White House:
                      • The jobless rate dropped to the lowest in nearly half a century, and the number of unfilled job openings hit a record high.
                      • Economic growth spurted to a 4.2 percent annual rate in the most recent quarter.
                      • Median household income rose to the highest level ever recorded in 2017. Poverty declined.
                      • The growth of federal regulations slowed, and has lately reversed.
                      • Crime rates declined. The number of homicides went down 0.7 percent last year after rising for the previous two years.
                      • Carbon emissions rose. Coal mining jobs went up a bit.
                      • Corporate profits, stock prices and home values set record highs.
                      • The trade deficit grew larger.
                      • The federal debt increased by nearly $1.4 trillion, more than 9 percent. Yearly deficits increased.
                        The U.S. image abroad plunged.

                        https://www.factcheck.org/2018/10/tr...r-2018-update/

                        I can't ignore the last two and celebrate the rest.
                      "Ask not what your country can do for you"

                      Left wing, Right Wing same bird that they are killing.

                      you’re entitled to your own opinion but not your own facts.

                      Comment


                      • #12
                        Back in early 2018 you can find dozens of "experts" writing for the NYTimes and other mainstream media corporations telling us that Trump's obsession with trade deficits was wrong headed.

                        Economists generally agree that neither trade deficits nor surpluses are necessarily 'good' or 'bad' for an economy.
                        https://www.bbc.com/news/world-43336599

                        Most conservatives opposed to the Tariffs but what everyone is missing is that trade is part of a broader foreign policy. The only real leverage that Trump has to get China to help in North Korea short of declaring a cold war is trade.
                        We hunt the hunters

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                        • #13
                          https://www.forbes.com/sites/timwors.../#30b642ec67b7
                          "To be free is better than to be unfree - always."

                          Comment


                          • #14
                            I saw that one but economics are pretty madding. You start to wonder if the "experts" have a clue.

                            What I believe is that we have exported our slave labor and pollution to China. I'm having a hard time justifying it morally but the Chinese seem better off than when Mao was alive so it's a difficult call to make. Now economists are telling us it is a fair deal because we provide "services" to China. Those services I suspect include the services of the same people that caused the 2007 depression. Making me think that it may be BS.

                            I remain skeptical of the sustainability of a "post industrial" economy. I would go so far as to say that a lot of the tech industry is something of a ponzi scheme in the sense that they have no tangible assets and like MySpace could be here one day and gone the next. I have never heard one of the "experts" take note of this fact. I also don't recall but a few who were actually managers of energy companies not economic "experts" pointing out that Enron was a fraud. Everyone who was not an expert but relied on common sense knew Enron was a ponzi scheme years earlier.

                            What has made it possible for the U.S. to be the world's policeman is the advantage of being the only industrial power not completely wrecked by WWII. Then there is the use of the dollar for trade that gave the U.S. a huge advantage. Note that every time some dictator starts to talk about tying oil to something other than the dollar they end up dead.

                            China is to the U.S. as Germany was to Britain in 1900. U.S. hegemony is coming to an end and Western Europe, Japan, Australia, and Canada have better get on board with defending liberal democracy instead of toying with socialism or things are going to get ugly.
                            We hunt the hunters

                            Comment


                            • #15
                              Originally posted by wolfhnd View Post

                              I saw that one but economics are pretty madding. You start to wonder if the "experts" have a clue.

                              What I believe is that we have exported our slave labor and pollution to China. I'm having a hard time justifying it morally but the Chinese seem better off than when Mao was alive so it's a difficult call to make. Now economists are telling us it is a fair deal because we provide "services" to China. Those services I suspect include the services of the same people that caused the 2007 depression. Making me think that it may be BS.

                              I remain skeptical of the sustainability of a "post industrial" economy. I would go so far as to say that a lot of the tech industry is something of a ponzi scheme in the sense that they have no tangible assets and like MySpace could be here one day and gone the next. I have never heard one of the "experts" take note of this fact. I also don't recall but a few who were actually managers of energy companies not economic "experts" pointing out that Enron was a fraud. Everyone who was not an expert but relied on common sense knew Enron was a ponzi scheme years earlier.

                              What has made it possible for the U.S. to be the world's policeman is the advantage of being the only industrial power not completely wrecked by WWII. Then there is the use of the dollar for trade that gave the U.S. a huge advantage. Note that every time some dictator starts to talk about tying oil to something other than the dollar they end up dead.

                              China is to the U.S. as Germany was to Britain in 1900. U.S. hegemony is coming to an end and Western Europe, Japan, Australia, and Canada have better get on board with defending liberal democracy instead of toying with socialism or things are going to get ugly.
                              Your first phrase is interesting.

                              Trade with a poorer country, and China is a poorer country than both the US and U.K., enables both to gain. We get basic manufactured items cheaper than we can make ourselves and they get money to develope themselves so that they can afford our more sophisticated goods and services.
                              All voluntary trade benefits both parties.
                              "To be free is better than to be unfree - always."

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