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More data: http://en.wikipedia.org/wiki/List_of_countries_by_exports http://en.wikipedia.org/wiki/List_of_countries_by_exports The US is the #3 country in term

More data: http://en.wikipedia.org/wiki/List_of_countries_by_exports http://en.wikipedia.org/wiki/List_of_countries_by_exports The US is the #3 country in terms of exports.

pbsurf 15y ago
http://en.wikipedia.org/wiki/List_of_countries_by_current_account_balance http://en.wikipedia.org/wiki/List_of_countries_by_current_ac... Scroll all the way to the bottom.
- enjo 15y ago
  What does that have to do with anything?
  - sologoub 15y ago
    Short version: We buy more than we sell. Wealth is being transferred out. Long version: It means we import way more than we export... In other words, we buy from others a lot more than we sell to others. In theory, this would create a strong downward pressure on US dollar, but as it is the reserve currency of the world and is backed by giant consumer economy that everyone is selling into, as well as US military might, the pressure is negated. Some economists argue that this is extremely unhealthy and is unsustainable. I'm not qualified to say if it's true or not. One thing I would say, is look at most countries with a huge positive balance - most are oil producers or cheap(er) labor sources for less skilled stuff. Notable exceptions here is Germany. In fact, Germany is very luck that the rest of Euro zone likes to spend profusely. If not for those other countries dragging the Euro down, their currency would have appreciated exponentially, making their exports way too expensive.
    - yummyfajitas 15y ago
      Wealth is being transferred in - it is money that is being transferred out. The net result is that we are trading China some green pieces of paper for flat screen TV's. I like my Chinese-made laptop more than green pieces of paper, so it sounds like a win to me.
      - deleted 15y ago
        [deleted]
      - stouset 15y ago
        Unfortunately, on the macro-scale, we've run out of green pieces of paper and are actually just issuing them IOUs at a higher value than the cost of the goods. In layman's terms, we're cashing out our hard-earned savings for meaningless, disposable trinkets. It isn't going to last, and when it's over, it's going to _hurt_.
      - sabat 15y ago
        I like my Chinese-made laptop more than green pieces of paper, so it sounds like a win to me. That's all well and good until the Chinese have all your green pieces of paper, and all you have to eat is your laptop.

More data: http://en.wikipedia.org/wiki/List_of_countries_by_exports http://en.wikipedia.org/wiki/List_of_countries_by_exports The US is the #3 country in terms of exports.

pbsurf 15y ago

http://en.wikipedia.org/wiki/List_of_countries_by_current_account_balance http://en.wikipedia.org/wiki/List_of_countries_by_current_ac... Scroll all the way to the bottom.

enjo 15y ago
What does that have to do with anything?
- sologoub 15y ago
  Short version: We buy more than we sell. Wealth is being transferred out. Long version: It means we import way more than we export... In other words, we buy from others a lot more than we sell to others. In theory, this would create a strong downward pressure on US dollar, but as it is the reserve currency of the world and is backed by giant consumer economy that everyone is selling into, as well as US military might, the pressure is negated. Some economists argue that this is extremely unhealthy and is unsustainable. I'm not qualified to say if it's true or not. One thing I would say, is look at most countries with a huge positive balance - most are oil producers or cheap(er) labor sources for less skilled stuff. Notable exceptions here is Germany. In fact, Germany is very luck that the rest of Euro zone likes to spend profusely. If not for those other countries dragging the Euro down, their currency would have appreciated exponentially, making their exports way too expensive.
  - yummyfajitas 15y ago
    Wealth is being transferred in - it is money that is being transferred out. The net result is that we are trading China some green pieces of paper for flat screen TV's. I like my Chinese-made laptop more than green pieces of paper, so it sounds like a win to me.
    - deleted 15y ago
      [deleted]
    - stouset 15y ago
      Unfortunately, on the macro-scale, we've run out of green pieces of paper and are actually just issuing them IOUs at a higher value than the cost of the goods. In layman's terms, we're cashing out our hard-earned savings for meaningless, disposable trinkets. It isn't going to last, and when it's over, it's going to _hurt_.
    - sabat 15y ago
      I like my Chinese-made laptop more than green pieces of paper, so it sounds like a win to me. That's all well and good until the Chinese have all your green pieces of paper, and all you have to eat is your laptop.