Tapsearch Com EditorTrade Deficit double talk
February 12th 2010 00:43
Pres Obama ignores the Trade Deficit while the Press portrays an increase in the Trade Deficit as something good. The logic is not there but it does not stop them from passing on the fabrications and the bias of the news services
Feb. 10 (Bloomberg) -- The U.S. trade deficit unexpectedly widened in December as imports rose faster than exports, gains that signaled a pickup in global economic growth.
The gap grew to $40.2 billion, the biggest in a year, from $36.4 billion in November, according to Commerce Department data released today in Washington. Imports increased 4.8 percent and exports climbed 3.3 percent to the highest level since October 2008.
We’re at a stage of the recovery where you expect both exports and imports to rise,” said Ward McCarthy, chief financial economist at Jefferies & Co. in New York, who forecast the deficit would widen. “The good news is when imports and exports are rising, it is a sign you have economic growth.”
This "sign" has been part of our Trade Deficit breaking records for years. Millions keep losing their jobs but still no one seems to want to point at the Trade Deficit as the cause.
For many years now, the Trade Deficit keeps breaking records and no matter who says what it is a negative. It's a loss and not gain. Still many economists keep telling us that it is not such a bad thing. It is obvious that it is a cause behind our economic crisis and the loss of jobs as more and more of the things we use and eat our made or grown somewhere outside our country. The economists also play the game of statistics with our national output of production and services versus the output production and service outside our country by companies owned by American interests. Why are the two divided especially if we are in a global economy. Most likely the Trade Deficit would have to be subtracted from the whole this way and show how much of real loss it is in our economy inside and outside the USA. However the All-In-One Free Trade party is in control with the Clintons, the Bush family and President Obama all acting as one. When it comes to free trade and Globallization, there is only one party in the USA.
For the millions of workers who lost their jobs since the late 1980s due to free trade and foreign competition, the economists explanations mean nothing to them except they are outside looking in at the celebration of the free traders. About ten years ago, some economists said that the Trade Deficit represented a loss of $50,000 for every American family. Just imagine what it is today as President Obama bail outs act as real tariffs on the future generations. He bails out the investors who caused the economic crisis and the Trade Deficits. And then he puts them back in charge.
Worst of all, our news media passes on the lies openly.
In our Cleveland Plain Dealer today, there was an article about the Trade Deficit. As they do so many other times, the newpapers publishes a story from one of the news services without questioning any part of the story.
This how they reported the increase in the Trade Deficit - The increase in the Trade Deficit even though there was an increase in export indicates that the global economy is growing .
They do not report how many jobs were affected or how many less opportunities there are in the USA. More was lost than gained but, even if you are out of job, you should know that the global economy increased because of your loss.
Be Happy as your neighbors go under all around you - your own investments may grow
The real news - Economic crisis a result of Free Trade Scam of the century - Workers are Betrayed - Pres. Obama continues the scam
Feb. 10 (Bloomberg) -- The U.S. trade deficit unexpectedly widened in December as imports rose faster than exports, gains that signaled a pickup in global economic growth.
The gap grew to $40.2 billion, the biggest in a year, from $36.4 billion in November, according to Commerce Department data released today in Washington. Imports increased 4.8 percent and exports climbed 3.3 percent to the highest level since October 2008.
We’re at a stage of the recovery where you expect both exports and imports to rise,” said Ward McCarthy, chief financial economist at Jefferies & Co. in New York, who forecast the deficit would widen. “The good news is when imports and exports are rising, it is a sign you have economic growth.”
This "sign" has been part of our Trade Deficit breaking records for years. Millions keep losing their jobs but still no one seems to want to point at the Trade Deficit as the cause.
For many years now, the Trade Deficit keeps breaking records and no matter who says what it is a negative. It's a loss and not gain. Still many economists keep telling us that it is not such a bad thing. It is obvious that it is a cause behind our economic crisis and the loss of jobs as more and more of the things we use and eat our made or grown somewhere outside our country. The economists also play the game of statistics with our national output of production and services versus the output production and service outside our country by companies owned by American interests. Why are the two divided especially if we are in a global economy. Most likely the Trade Deficit would have to be subtracted from the whole this way and show how much of real loss it is in our economy inside and outside the USA. However the All-In-One Free Trade party is in control with the Clintons, the Bush family and President Obama all acting as one. When it comes to free trade and Globallization, there is only one party in the USA.
For the millions of workers who lost their jobs since the late 1980s due to free trade and foreign competition, the economists explanations mean nothing to them except they are outside looking in at the celebration of the free traders. About ten years ago, some economists said that the Trade Deficit represented a loss of $50,000 for every American family. Just imagine what it is today as President Obama bail outs act as real tariffs on the future generations. He bails out the investors who caused the economic crisis and the Trade Deficits. And then he puts them back in charge.
Worst of all, our news media passes on the lies openly.
In our Cleveland Plain Dealer today, there was an article about the Trade Deficit. As they do so many other times, the newpapers publishes a story from one of the news services without questioning any part of the story.
This how they reported the increase in the Trade Deficit - The increase in the Trade Deficit even though there was an increase in export indicates that the global economy is growing .
They do not report how many jobs were affected or how many less opportunities there are in the USA. More was lost than gained but, even if you are out of job, you should know that the global economy increased because of your loss.
Be Happy as your neighbors go under all around you - your own investments may grow
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Stories behind News in Global Economic Arena
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The World's News
Tapsearch explores untold stories
Tea Party may be brewing wrong tea in response to comment about an increase in U.S. manufacturing
5. February 8th 2010 @ 16:06. Tapsearch Com Editor Says:
Thanks for clarifying your definitions are on a theoretical level but even then I wonder about connotations and definitions when it comes to statistics and comparisons with the past.
Most statisitics are now flawed compared to the past because of so many changes. An economic professor once told me that there is no such thing as a good or bad economy. He said economics is about measurments and not necessarily being an indicator for a good or bad economy.
However, the general public and news reporting do not plug in this disclaimer.
This is I do know:
Free trade is not trade as historically practiced and defined and should be called something else. It is primarily based on moving production from place to place for the sake of cheaper labor. And the U.S. Federal Government engineered and sponsored this new free trade starting in 1956. This so happened to be the same year, money was globalized after the Suez crisis. This was all started outside of any democratic process and obviously outside the will of the people.
The U.S. unemployment rate does not match up with the past when it was primarily based on full time jobs with benefits. Today , only about 40 percent of American workers qualifying for unemployment insurance. This means there are about 60 percent of workers living in limbo or missing in action from any kind of reporting.
The term manufacturing has changed too. When manufacturing output is compared it could mean many different things compared to the old description Made in the USA. Does the term today include assembled in the USA, built in the USA, fabricated or crafted in the USA etc. When a manufacturer flies our parts to be machined or ground in another country and then flowed back to the main factory for finishing or assembly - is this part of the manufacturing stats.
How does the Gross Domestic Product reporting work with the Gross National Product where one is compared on things happening within the borders of one country and the other is about what goes on everywhere by nationals owning processes anywhere in the world . And how does the Trade Deficit play in all of this when the Gross Domestic Income is part of the formula.
And take things like this. President Clinton admitted he used the U.S. Social Security trust fund to support the Balkan wars. So, money was taken directly from a taxpayer fund and used to produce military products. How does something like this play out with all the stats above.
The poverty rate could most likely be contested in many of the same ways but anyone can do an eyeball test by driving down miles of main streets in most of our major cities in the USA and see miles of empty storefronts, empty factories, empty office buildings and down the side streets full of empty and run down homes.