Don't forget 10% for the Big Guy...
Posted on 02/08/2022 7:37:20 AM PST by NautiNurse
[Snip]
The full-year trade deficit for 2021 increased 27% to $859.1 billion, larger than the previous record of $763.53 billion in 2006.
[Snip]
American consumers have spent heavily on imported goods such as computers, game machines and furniture, flush with stimulus money while less willing to splurge on travels and dining out due to health concerns.
[Snip]
Trade deficit with China grew 14.5% for the full year to $355.3 billion, as U.S. demand for Chinese goods surged amid the post-pandemic economic recovery.
A trade pact with China implemented by former President Donald Trump to reduce the bilateral deficit with Chinese purchase commitments for U.S. goods expired on Dec. 31. Economists say China had fallen sharply behind the goals, creating pressure for the Biden administration to hold Beijing accountable for falling short.
(Excerpt) Read more at wsj.com ...
Our economic recovery is so strong that we’re losing money on this deal! Whoo-Hoo!
It is Lesko Brandon’s economic magic.
“We the People” pretty much lose money on everything this administration does.
The Fed exists to support the globalist elites/Wall Street/K Street.
Our government exists to support the same.
The media cheers and academia brainwashes each generation that all of this is “good for you”.
It is depressing.
> U.S. demand for Chinese goods surged <
Only because the idiots in DC enact policies that restrict domestic manufacturing. Nobody deliberately wants to buy ChiCom junk. But in far too many cases that’s the only option.
Trump was perhaps the only president ever who understood that. So of course he had to go. (See my tagline.)
This works as long as the US Dollar remains the world’s main reserve currency.
When it does not, we become something resembling Brazil, Bolivia and Venezuela. For society and politics, we are already half-way there.
U.S. manufacturing locked down, people sitting at home with little else to do than spend their stimulus bonus money. I know folks who ordered Chinese toilet paper. For some outrageous sum of money, they received three tiny rolls of stuff with splinters. Bah!
Similarly, if Lesko Brandon blows up the Nordstream II pipeline, we will have few allies and trade partners across the pond.
This is actually very good. I just love trump but his ideas on trade deficit were wrong. The only way to have long term trade deficit is if foreigners are investing in our country. Investment raises wealth.
A ptomkin recovery of ever-increasing national debt.
When the schit hits the fan either the Davos crowd will need to pay for the US national debt or there will be a national bankruptcy because I will never pay taxes to service the debt they forced on us with their scam.
Don't forget 10% for the Big Guy...
Goes without saying.
Recovery my ass.
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