China has lots of jobs, which used to be American.
Now they’re not.
China now sells 300 trillion more to America, than America sells to China.
300 trillion a year.
Billion, not trillion. Still horrible.
Idiots here on Free Republic enthusiastically embraced shipping jobs to asia, and were defending it against all debate years ago. These were, by and large, the same idiots who insisted that there was no real estate bubble and it wasn’t going to pop.
The cost of obtrusive government regulations, from waste disposal laws that became ludicrous to extravagant building and safety codes are big parts of this, and a lot of people explained what the consequences would ultimately be.
We aren’t laughing now, but certainly mockery and calling into question the capacity to make a salient assessment is appropriate for those who insisted that our level of government intrusion was not going to have the effects we are seeing now.
Not all of the damage started with Obonghit.
As our good conservative professor Walter E Williams has taught us repeatedly, we need not fear trade deficits.
We all experience a trade deficit with our grocer and gasoline supplier. There is no negative effect.
International trade deficits are to individual accounts of corporations, persons, not national sovereign accounts.
Last year, Trader Joe's sold $1300 more to cynwoody than cynwoody sold to Trader Joe's ($0).
So, my economic situation must be dire? Right?