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The World's News - Follow Ray Tapajna in his journey in the Global Economic Arena

 
Free Trade is not trade. It is primarily about moving production from place to place anywhere in the world for the sake of cheaper labor. The value of workers and labor has been degraded and deflated. This represents trillions of dollars lost in the process

Trade Deficit is a real money loser

February 20th 2012 02:26
Trade Traps continue - Ray Tapajna


Reporting of Trade Deficit is massaged

The Trade Deficit is not just an economic statistic but it is something real with trillions of dollars being lost forever since 1994. Bloomberg News puts their slant on the latest report of the Trade Deficit which is the highest in six months by actually saying it was because the "strengthening economy prompted bigger gains in imports than exports."

They continue... Purchases of goods and services produced overseas were the strongest in more than three years on record for capital equipment like machinery and semiconductors. They continue the farce by noting imports may keep rising as an improving job market ..... has businesses rebuilding inventory and replacing outdated equipment. Obviously, the money spent this way to replace equipment does not stay in this country to grow our economy but instead grows the economy where the equipment and parts come from. This means the more we assemble in this country, the more we lose in the long run.

Jay Bryson, a senior global economist at Wells Fargo Securities is quoted,
" We will see a widening trade deficit this year as imports grow faster than
exports."

They end with the report like this..... American companies also bought more consumer household items, automobiles and parts and crude oil from overseas.

If this is good economics, I would hate to see what a bad one is.

For all of 2011, the shortfall grew 12 percent t $558 billion, the most since
2008.

Meanwhile, workers at places like Wal-Mart , Manpower, Marathon and most of all the fast food chains still need loads of government and private assistance to survive. The costs of Medicaid recipients at 40 companies including the above are increasing too. Thousands of workers at these companies need food stamps to exist. Even some of the big time hospitals have workers who need this help too.

Many workers at McDonald's get food stamps. Of course they are not
allowed to use the stamps where they work. This is all economic insanity and no one seems to care.

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