3 ms·
Too bad no one wants it: http://en.wikipedia.org/wiki/List_of_countries_by_current_account_balance http://en.wikipedia.org/wiki/List_of_countries_by_current_ac.
by david927 19y ago
Too bad no one wants it:
http://en.wikipedia.org/wiki/List_of_countries_by_current_account_balance http://en.wikipedia.org/wiki/List_of_countries_by_current_ac...
- neilc 19y agoHardly: the US exports more than $1 trillion USD of goods per year. The fact that it imports more than that doesn't mean that "no one wants US exports", or that the US "has essentially lost its production capability". Your argument would be more persuasive if you cut out the hyperbole.
- david927 19y agoOk, I'm being dramatic. But that export number includes, for example, when Ford produces a car in Mexico, with Mexican labor, and sells it in Mexico. We've been outsourcing not just blue-collar work, but more and more white-collar work as well. While this is essentially inevitable, it will, in the end, demote America to a second-world country, divided into starkly wealthy areas and dirt poor areas.
- JeffL 19y agoIt's not that they don't want what we produce. It's that they are stupid enough to trade us stuff for our fiat pieces of paper that we send in exchange that they hold in reserve.