3 ms·
Trade deficits are good, they are a privilege of empire. Foreign countries give us finished goods and services, and in return we give them green pieces of paper
by Analemma_ 2y ago
Trade deficits are good, they are a privilege of empire. Foreign countries give us finished goods and services, and in return we give them green pieces of paper, which most of the time they give straight back to us in investment. What's bad about that? Thinking trade deficits are bad is just discredited mercantilism with a new coat of paint.
- pessimizer 2y agoBecause eventually people will stop taking your green pieces of paper, and you won't have the domestic infrastructure left to physically attack them and take their goods like you once could? Thinking trade deficits are good never had an argument behind it, it was a retroactive justification for domestic infrastructure neglect, government cuts, and the coddling of the wealthy that began with the Reagan administration. The arguments for it are similar to the arguments for running a bunch of personal credit card debt "It's free money, take it, let them try to get it back." The USA can't live as a parasite forever.