What The Trade Deficit Says About This Economy.

8 minutes

I was talking with a colleague the other day, when suddenly I realized that we no longer talk of the United States having a trade balance . Now we only talk about the US Trade Deficit.

Why? Because when we look at our country's international trade, it is inevitably a deficit, a loss. A bottomless hole. In which this country inevitably imports more than it exports. Which we make up for by paying our hard cash.

On a balance of payments basis, we always loose. The other side always goes away from the deal with US dollars in their pocket.

So it's simple to see why we only think of US International Trade as a loosing proposition, a deficit.. Since the third quarter of 1982, nearly 38 years ago, the US has had nothing but red ink in the trading relations around the world. With the singular exception of 1992.

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Start listening to The Antitrust Case Against Google. Late.
9:45
Start listening to The Antitrust Case Against Google. Late.
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