(2003) (But still good.)
It’s not good. Warren Buffett just says horrible things in a polite voice.
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Growing trade deficit is selling the nation out from under us (2003) [pdf]
31–40 of 200 posts
Re: Growing trade deficit is selling the nation out from under us (2003) [pdf]
#32Re: Growing trade deficit is selling the nation out from under us (2003) [pdf]
#33When they talk about trade deficits do they take into account tourism and other cross-border services? Or is it just goods, and in that case why focus on goods?
Only goods, at least for the EU the 100+B trade deficit for services in favor of the US is carefully left out.
That is 100B of ideas for making a European competitor to US services that are soon to be tariffed.
Re: Growing trade deficit is selling the nation out from under us (2003) [pdf]
#34When they talk about trade deficits do they take into account tourism and other cross-border services? Or is it just goods, and in that case why focus on goods?
Generally they are just goods. It’s much easier to measure physical goods crossing customs. It’s very difficult to measure whether that guy in your restaurant was a tourist or not. And that’s the simple case believe it or not… This is one of the reasons service oriented economies seem to run huge deficits…
I reckon both Mastercard and Visa will give you really damn good proxies for cross border money flows.
Re: Growing trade deficit is selling the nation out from under us (2003) [pdf]
#35Re: Growing trade deficit is selling the nation out from under us (2003) [pdf]
#36Can someone explain to me how the US can reshore manufacturing without dramatically lower their standard of living? Maybe they can subsidize some essential industries but I can’t see a path to do it for everything.
I started believing that all these, are just side effects of Americans and their leadership not accepting the loss of their global leadership to China. They know they can’t pull a Plaza Accord like they did with Japan in the 80s to slow they down. Now hoping for some hail marys. In the worst case, a good chunk of people will be poorer, less women with jobs, which should result in a bump in birth rates.
No data points, but I like to entertain this.
Re: Growing trade deficit is selling the nation out from under us (2003) [pdf]
#37Can someone explain to me how the US can reshore manufacturing without dramatically lower their standard of living? Maybe they can subsidize some essential industries but I can’t see a path to do it for everything.
> Can someone explain to me how the US can reshore manufacturing without dramatically lower their standard of living?
A (very) partial solution is to build the factories at places where the cost of living for the workers is low. This way, the workers can maintain a higher standard of living at a constant salary.
Re: Growing trade deficit is selling the nation out from under us (2003) [pdf]
#38OP, did you also read Gray Mirror this morning. Curtis Yarvin went onto defend the IC idea this morning as a way to defend nascent industries (new industries).
Interesting article, also presented the ideas of mercantilism of Friedrich List (originator of the Zollverein idea).
Re: Growing trade deficit is selling the nation out from under us (2003) [pdf]
#39Re: Growing trade deficit is selling the nation out from under us (2003) [pdf]
#40Can someone explain to me how the US can reshore manufacturing without dramatically lower their standard of living? Maybe they can subsidize some essential industries but I can’t see a path to do it for everything.
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