by Summary:
We ALL run trade deficits, including O’Reilly.
Topics:
Mike Norman considers the following as important:
This could be interesting, too:
We ALL run trade deficits, including O’Reilly.
Topics:
Mike Norman considers the following as important:
This could be interesting, too:
Robert Vienneau writes Austrian Capital Theory And Triple-Switching In The Corn-Tractor Model
Mike Norman writes The Accursed Tariffs — NeilW
Mike Norman writes IRS has agreed to share migrants’ tax information with ICE
Mike Norman writes Trump’s “Liberation Day”: Another PR Gag, or Global Reorientation Turning Point? — Simplicius
| We ALL run trade deficits, including O’Reilly. |
I heard Tech Lead's latest video, and he said the way the tariff's are calculated are quite misleading and not a true reflection of actual tarrif's on the US anyway…He actually said giving paper dollars for real goods aint such a bad deal. clever guy.
Americans aint working for $1 a day like Vietnam. Its just plain dumb to think that USA needs Americans to work like this in the USA. Trump has screwed its major allies like South Korea. And now these countries are forking alliances. You dont need reciptocal tarfifs. The consumer just stops buying any American sourced product or service. No one needs Facebook or Instagram. Its easy to counter the US. Very naive thinking by some in the USA!
Oreilly is a clown
You’re right ! ‘Trade deficit’ destabilizes people….You are ripped off by the grocery store if the store overcharged you…Tell me, would you shop at the Trump grocery store?
"You buy food from the supermarket with your dollars."
That is ok. That is just a transaction NOT a trade deficit.
The question is "is it American food or imported food from other countries?
Is it Californian wine or IMPORTED FRENCH WINE?
If you keep importing and export less then your country looses somewhere down the line.
Its that simple.
I figured out what Oreilly and all of Foxnews was about a long time ago. In fact, it was in 2006,7,8 when i had to retire from Delphi. Stuart Varney was wondering who would take the haircut, UAW or stockholders. He was very disappointed to find out UAW did pretty well thanks to UAW and Obama. If you work. If you are union and you worship Foxnews and Trump, get a clue. That was when Bush gave wall street billions to save our economy i guess. Thats prolly why deficit really doesnt matter at the end of the day.
I tried to listen objectively and see what I could learn, but here’s where I stand: On a side note, for you who voted for Kamala or Biden, if you were principled you should volunteer to pay the higher taxes Kamala & the dems wanted. But I don’t see that happening, since you socialists seem to prefer spending other people’s money. And maybe you are upset w/ this tariff issues because their portfolios got pummeled, not because you cared. As an economist, you sound like the trade deficit is irrelevant. If it doesn’t matter, why is it included in GDP calculations? Do you teach students not to consider it at all? Sure, it’s just one metric, but you’re spinning it as though it’s meaningless when it suits your argument. I’m from upstate New York, and I’ve watched my city’s population drop from about 150,000 to under 40,000, with most people now on welfare. The manufacturing base was destroyed by foreign trade. That proved to me that socialism doesn’t work. I live in Florida now, where I get better services at about a third of what I used to pay in taxes in New York. Meanwhile, the so-called “socialists” in New York taxed and regulated people out of the state, and the elite just got richer. My father had a good middle-class job at Bethlehem Steel, but he ended up driving a limo to put food on the table. Then NAFTA showed up in the ’90s and wiped out our manufacturing base—nobody can deny that. I was duped into thinking it was beneficial. As for “free trade,” anyone who claims we have that with other countries isn’t being realistic. You’d have to be blind or foolish not to see it. Do I expect what it was 50 years ago, no but I expect all of the industries current or future that made this country so great back. Also, it is a very prudent move not to trust commies, like China. So how do we fix it? All I hear from Democrats and a few Republicans in name only (RINOs) is “tax the rich more” (who already pay 80% of taxes), or it’s all about racism or blaming “the white man.” or another tactic so pushed by Saul Alinsky or Carl Marx. Bottom line what is the solution? Because if it is a good idea I will listen.
American companies buy billions of dollars of stuff from China and then sell it for trillions of dollars in America so we make a fortune from them they're not hurting as they're helping us instead of having factory jobs we have other kinds of jobs in America Trump himself has made billions of dollars without manufacturing anything.he is living proof that you don't have to make things to get rich. He is a hypocrite because retailers and middlemen can make more money than manufacturers.
The greatest voluntary destruction o wealth in US history. Trump is a failed businessman, His only success has been as a TV star and politician
Consuption .society .is a dead end .
I grow up in a country that had its dairy industry destroyed in the 1980s from imports of powdered milk from the USA. That is one in hundreds of industries that was decimeted because the IMF on the behest of the USA forced us to liberalise trade policies. My Great Grandfather raised 12 kids from 1900 to the 1960s on farming. 5 became nurses in the windrush generation that helped rebuild England after WW2 which my great grandfather paid for ship passage and tuition in England from farming. In my home land it is not that easy anymore. The point is, you are right, trading goods and services for paper that you have a monopoly to print is in the advantage of the person that owns the paper. But no one every thinks that.
I realise this commentator is too left wing for this target audience but Justin Wolfers brilliantly says the same things as you including the bit about sending bits of paper to other countries in exchange for stuff we want https://youtu.be/fj2T8Ft9sEs?si=rMnqcuP7eBVVrTrk
Okay, this is the dumbest explanation I've ever heard. Maybe MMT econ has rotted your brain. What stuff do you think we are getting by the gov running a deficit? How long do think this can go on? What level of debt too much? When grocery bill gets inflated to even more, are you going to say it's time for even more gov spending? The deficit is driving the inflation! It's a debt spiral. Even if you get what you want (which you never will), it's only temporary before even more massive inflation kicks in.
You have to run a surplus somewhere or else you're going to be insolvent.
Very good point!
I heard someone on perun a Ukraine War analyst dig in to this tariff issue and he noted that while the US may have a goods deficit with many countries but when you look at services we sell to these countries the overall trade deficit is often narrowed and in some cases reversed. Look at what Microsoft sells the world etc
The squirrels and Mike are in a trade war for tomatoes. btw – collared dove in the background, not an owl; collared doves are recent immigrants from Europe.
Get the blacks out of our schools now.
I benefit from low cost labor in asia. It is way more complex than Trump makes it sound.
Bill O Reily is a disgusting pig….there's a reason he paid that woman over 30 million dollars to keep her quiet….hes a sexual assaulting scumbag.