This has been true all the way through Bush vs. Gore; I just really didn’t care.
I guess marriage, home ownership and parenthood will do that to ya huh?
With that said, I’ve never really understood the trade deficit. Am guessing many others don’t either.
Words are powerful; politics most especially. I firmly believe the ol’ saying “The pen is mightier than the sword.” Which is why we have to be on the continual look out for misinformation; intentional or not.
Trade. What is it?
To me, it means exchanging something that I have with you for something that you have. Implicit in this arrangement is the absence of coercion. The bully on the playground “trading” my lunch money for not beating me up is NOT trade.
What does trade do? Again, to me, it enriches both parties.
When I trade you $15 for mowing my lawn it means that I would rather have cut trimmed grass than $15. And you would rather have the $15 than sitting around the house.
We both win.
And when thought of in this way, it makes the term “Trade Deficit” sound kinda silly.
What is a trade deficit? It’s the condition that exists when we, the USofA, purchases more from a nation than they purchase from us.
That’s it; nothing more. It has nothing to do with debt. Or deficit in the traditional manner. No one is poorer. In fact, just the opposite is true. It means that trade has occurred, to some level. And at ANY level, trade enriches us BOTH. We win either way. If we buy more, less or the same, we win in EVERY trade!
This has been incredibly liberating to me. And, at the same time, astonished that highly educated famous people are still so ignorant.
Consider Lou Dobbs. He’s Harvard educated. Has his own TV show. And is famous.
And is clearly clueless when it comes to a trade deficit.
Watch all 6 sections when you have time.
But if you don’t, please understand that words have implications!