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U.S. trade deficit soars to $64B, highest in 12 years


Quester, what you say is correct, but it fails to address the meaning of the term trade deficit and therefore you conclusion is not correct. A trade deficit is not the (im)balance between the goods and their value. Trade deficit is the imbalance of money going in and out of the country. And I guess, in reference to you stating that all goods and their value are in balance, that you can than also say that trade deficit is the imbalance of goods going in and out of the country. The way you are going about it you are giving new meaning to the term trade deficit and that is not correct.

Joey
 

A challenge with changes is who the will reap the benefit. That globalization have had huge economical benefits but it mostly the wealthy elite that have reap the benefits. That countries have competed against each other about who can offer the biggest tax breaks and other perks to businesses. While it is possible to change it for example if countries for example work together to end tax havens and also that there are greater social and environmental demands on the products imported.

That it was also through unionization and organizations workers started to also reap the benefits of industrialization.

There it also through organization and that countries work together that not just the economic elite can reap the benefits of technological development.
 

Trump owes more money to one creditor, Deutsche Bank, than he reportedly has stashed away.
 

Why give flying **** about money going in or out of a country? Trade is trade. Adam Smith proved that 300 years ago.
 

On a good day, I'd take that a post like that to be uninformed.

On a normal day, I'd take that a post like that as being from someone who is totally divorced from reality.

Today is a good day.
 
snakestretcher said:
Trump owes more money to one creditor, Deutsche Bank, than he reportedly has stashed away.
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Ahhhh!

But if you wipe out the debt then he would still have the money that he has stashed away and that means that it's "smart" to drive the country into bankruptcy - right?
 
TU Curmudgeon said:
On a good day, I'd take that a post like that to be uninformed.

On a normal day, I'd take that a post like that as being from someone who is totally divorced from reality.

Today is a good day.
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What's uninformed about it? Why should the movement of money be treated any different than the movement of anything else of value?
 
Questerr said:
What's uninformed about it? Why should the movement of money be treated any different than the movement of anything else of value?
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Your position is that it should be totally ignored since it is the movement of money that is used to determine whether or not there is a "trade deficit".

If there is no such thing as a "trade deficit" then, it must "logically" follow that there is no such thing as "movement of money".

PS - "Money" is NOT a "thing of value". "Money" is a way of recording value and that's it.
 

Currency is a store of value. That's one of its key defining characteristics.
 

Sounds to me like you are also a huge fan of the FAIR TAX proposed law. You get that basis living supplement in the plan.
 
Robertinfremont said:
Sounds to me like you are also a huge fan of the FAIR TAX proposed law. You get that basis living supplement in the plan.
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There have actually been studies done of similar proposals.

Unfortunately the people who advocate for a flat tax MASSIVELY underestimate the level of taxation required.

From a rough study that I was a part of many years ago (adjusted for inflation), the level required to meet the financial needs of the US government (once you have calculated in the level of payments on a per capita basis needed to ensure that more than 50% of the population isn't living in poverty) comes to roughly 50% of GROSS income (from ALL sources).

Yes, I do like the CONCEPT but, unfortunately, it simply won't work so I'm rather strongly against attempting to actually IMPLEMENT it.
 
Questerr said:
Currency is a store of value. That's one of its key defining characteristics.
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Currency is simply printed paper and has absolutely no intrinsic value beyond the value of the paper for recycling.
 
TU Curmudgeon said:
Currency is simply printed paper and has absolutely no intrinsic value beyond the value of the paper for recycling.
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Currency is a lot more than "simply printed paper" and if you think it is, then you are WAY too ignorant to be commenting on this topic.
 
TU Curmudgeon said:
I have absolutely no idea whether or not someone is standing over you and forcing you to post.
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Nor will you ever. It is better that people like you keep wondering and never figure out anything while talking non-sensical all the way through. We need people like you to provide us the laughter all people need a daily dose of.

Joey
 

Agreed, we should try to work together as much as possible. But not with all. Some countries do not deserve that.

But the concept of working together is obviously completely lost on the Trumpet. Hence, change is welcome.

Joey
 
Questerr said:
Why give flying **** about money going in or out of a country? Trade is trade. Adam Smith proved that 300 years ago.
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If you do not care, then why post in the first place?

Joey
 
Questerr said:
Currency is a lot more than "simply printed paper" and if you think it is, then you are WAY too ignorant to be commenting on this topic.
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When you learn the difference between "currency" and "money" feel free to get back to me.
 
TU Curmudgeon said:
When you learn the difference between "currency" and "money" feel free to get back to me.
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In this debate, they are synonyms for all practical purposes. How much "printed paper" is used when I move money with my debit card?
 

You do realize we are in the midst of a pandemic and forced shutdown of a large section of our economy, right? Using these numbers and ignoring the prosperous economy, as well as the growth of the economy since the start of the pandemic is dishonest if you are going to discuss the state of the economy and it's recovery rate. The unemployment rate is down to 8.7, which while high is a dramatic drop from a confirmed 14.7% and an estimated 16%. The unemployment rate was down to 3.8% at the first of the year.
 

Yes the world has been experiencing a pandemic.

Did the US have a trade deficit before the pandemic?
The new jobs Trump has claimed lately are not new. They are people starting to return to work who were laid off from the pandemic.
Yes, the economy was doing well before the pandemic. Yet, The US National debt continues to grow.
 
Questerr said:
In this debate, they are synonyms for all practical purposes. How much "printed paper" is used when I move money with my debit card?
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You do NOT "move money" when you use your debit card, you make a series of accounting entries.
 
TU Curmudgeon said:
You do NOT "move money" when you use your debit card, you make a series of accounting entries.
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That's semantic bull****. There is no functional difference between me buying something with money via a debit card and buying it with money via physical cash.
 

If "X" is entitled to ALL of the credit when the economy improves (regardless of what they did or did not do), then "X" is entitled to ALL of the blame when the economy deteriorates (regardless of what they did or did not do).

The level of "shutdown" is directly related to the ineffectiveness of the measures taken to combat COVID-19 (e.g. When the ineffectiveness declines, then so too does the level of shutdown and when the ineffectiveness increases, then, so to, does the level of shutdown increase).

It is LEADERSHIP, FINANCIAL RESOURCES, AND MEDICAL RESOURCES which have the greatest impact on level of effectiveness of the measures intended to combat COVID-19.

The US DOES HAVE the FINANCIAL RESOURCES to perform outstandingly in combating COVID-19.

The US DOES HAVE the MEDICAL RESOURCES to perform outstandingly in combating COVID-19.

What the US DOES NOT HAVE is the LEADERSHIP required to perform outstandingly (some might even say adequately) in combating COVID-19.
 
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