Posted on 02/17/2011 2:18:01 AM PST by expat_panama
The U.S. trade deficit grew to $497.8 billion in 2010, but that number is actually somewhat deceptive. In fact, the nation's manufacturing sector posted significant continued export gains last year.
[snip]
An Industrial Export Rebound
The real story in the international trade arena is the U.S. manufacturing sector's ongoing impressive export performance.
Led by increases in industrial equipment, capital goods, civilian aircraft, supplies and autos, exports of U.S. goods increased by by 20.8%, from $1.07 trillion in 2009 to $1.29 trillion in 2010. Products such as electric utility generators produced by General Electric (GE), commercial airplanes manufactured by Boeing (BA), and tractors and other agriculture equipment produced by Caterpillar (CAT) and Deere (DE), among other heavy-industrial equipment, were at the forefront of the uptrend.
After bottoming out with a monthly total of $84.2 billion in January 2008, during the financial crisis' acute stage, goods exports have risen essentially continuously for two years, and totaled $116.6 billion in December 2010. Given strong GDP growth in the industrial goods purchasing nations of China, India and Brazil, among others, the rising U.S. manufacturing export trend will extend through 2011, and probably for considerably longer.
It's also worth noting that the strong international performance by U.S. manufacturers occurred in advance of the full implementation of President Obama's National Export Initiative, which is aimed at doubling U.S. exports by the end of 2014. Doubling U.S. exports in three years is a long shot, but the initiative should provide an additional boost to exports, due to the program's increased marketing of U.S. goods and services in foreign countries, among other benefits.
[snip]
(Excerpt) Read more at srph.it ...
—hate to be the bearer of good news...
You must have failed 5th grade arithmetic. We are exporting more but importing went up even more. Thus larger trade deficit.
“We are a mighty importing superpower” — Toddster
This is like someone bragging about making $300,000 this year compared to making only $200,000 last year. Yeah good going by him only problem is he spent $150,000 more this year than last so he fell behind
(leaving out taxes above for simplicity)
True. US manufactures sold goods to foreigners and were paid with dollars gotten when we bought imports; international payments balance. The problem is when we divide up the kinds of international payments into accounts, and when we spend our profits from trading on the London Stock Exchange and we buy Canadian oil, we call it a 'trade deficit'.
We're better off, we're rich, and doom'n'gloomers complain. What's not to like?
You never considered that the people&nations we import from are doing the same. Thanks for the kindergarten level reasoning from you. By your light nations are wasting their time collecting and publishing trade statistics of any kind. But the fact is that economists much smarter than you and I pay attention to trade statistics and deficits. Thanks anyway for the egocentric short term thinking...the libertarian credo of I me mine
You libertarians and free traitors are just riding the wave of US dollar as world’s reserve currency. This is changing due to continual trade deficits and Federal deficits and the printing of USDs to cover it up. Other nations are onto this scam and resent it. Eventually a gold/silver backed alternative currency will blow this all out the door. You US dollars that used to buy five Chinese knick-knacks will only buy one and even worse the oil price (in US dollars) will zoom upward. But then what do you care since you are squatting in Panama.....
When inflation heats up, American prices will rise and our exports will fall as they become more and more uncompetitive. Oh, yeah, imports will increase.
The Fed's inflationary monetary policy of the last 50 years (started with LBJ; really took off under Nixon) has caused severe dislocations in our economy. Get ready for another round of them.
Yep, my brother is in England this week doing a startup install on a $million+ printing press. He’s also done installs in France, Japan, and Mexico.
You fail, that is fail, to consider the fact that Americans like, even love the imported goods they buy. They like the fact that it is inexpensive and their income goes further when stuff costs less.
As Americans go, you have beliefs that are decidedly in the minority. Americans have voted with their income and overwhelmingly support buying stuff made by workers abroad who offer the best value for their money
Donald Trump is on the import tarrifs kick, likely assumes that his investments will benefit from protection. It won't likely help these exporters, more-so hurt them, as Obama has learned as Bush did before him. The unions take the same positions :"Screw US exporters and the US consumer" as do many Democrats and Republicans.
Trump has been getting on TV claiming that the US government can fight high oil prices just by pressuring OPEC to not raise them, all while he supported the Obama-Pelosi stimulus bill and devaluing the dollar. I see him on Cavuto from time to time.
dennisw-- "You never considered that the people&nations we import from are doing the same."
Dennis finally stumbles onto the truth. Good job!
Todster fails again to keep his mouth shut when it would have been better to do so.
Why’s that, blam?
You talk to much and you start an argument on every thread where I see you.
Give it a break, eh?
Any thoughts on comment #3? I’d like to see how you apply your own rules.
Many think that guys like Trump get on TV because they say stuff that’s true so we’re supposed to pay attention. Reality is that clowns like Trump get themselves on TV by having a rep for sticking to the party line.
Hey blam, how you taking the manufacturing export news?
Is FR too rough for your tender sensibilities?
I think that's a little suprising but excellent news regardless.
Nah...you're just tiring saying the same contensious things over and over...
(I probably should have continued to ignore you)
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