Exports are falling at ~6 x the rate imports are falling at during the Covid19 era. It is freefall destruction of exports and American manufacturing. Trump has torched brand America. Trump's whole agenda has become a smoldering heap of burnt-out fantasies. https://finance.yahoo.com/news/u-trade-deficit-widens-exports-130520787.html
Funny, I wonder if Trump mentioned any of this today at his job numbers party?? Even if all the economic indicators were good, which they are not, Trump has still torched brand America... Joe Biden is only going to be able to do so much to restore that, but it has to start somewhere. I cannot imagine a president coming into office with lower expectations of success...
Biden's tweet, yesterday, said it all. "I will read my daily briefings". How sad when that is a 'good news' item...
The trade deficit doesn't actually mater that much. It isn't an actually monetary net loss. Then again, that's what Trump thinks it is and he's used it as an excuse for his insanely protectionist policies, so it is worth pointing out that those policies have failed, even by his own measures.
You don't have to take the post-COVID numbers. Just before the pandemic, the trade balance was at an all-time low. With the exception of low unemployment, Trump's supposedly strong economy is a myth.
Yes he should get away from protecting and just offshore what economy we have left. The only jobs we need are Walmart jobs and people who sell cups of high priced coffee.
Protectionism doesn't actually protect us. Offshoring results in more local jobs. Offshoring and importing are not net losses.
Obama’s economy right? Nah. It’s bad. So Trump has magical control over it, except when it’s good. Then it’s Obama again. /derp
The fact that the same basic trends carried through both administrations (at least until COVID) is a pretty good indication that neither of them are to credit. Obama supporters confuse correlation for causation. Trump supporters can't even get he correlation part right.
BS. Using our own workers is how this nation created our once huge middle class.. A service sector economy and gig economy doesn't create a middle class. A fact.
BS. Using our own workers is how this nation created our once huge middle class.. A service sector economy and gig economy doesn't create a middle class. A fact. It puts people on safety nets and working poor jobs. It creates greater income disparity. For decades our major export to China but was scrap metal. We always ran trade deficets with China as we financed the rise of a communist state! Utter treasonous stupidity..
BS. We've known this is nonsense for more than two centuries. Trade creates wealth on both sides of the exchange. Wealth creates more jobs.
Trade is good offshoring our living wage jobs disembowels Americans. If we had done that in ww2 you would be speaking German or Japanese. We out produced our enemies. Can't do that today. Common sense and basic. You just want cheap crap from sweat shops. And don't care about our middle class nor our workers. What created our history making middle class was living wages . Can't create one by impoverishing our people. Duh..
