isnt the foreign trade deficit so enormous?

Question

things look really bad

Answer 1

Not the foreign trade deficit but the trillions the Bush Administration has borrowed from China. They own us now and who'd to say what will come of this huge National debt that is growing by 5-6 billion a month in Iraq alone.
One thing you must know for sure is that Halliburton, Kellogg, Root & Brown are making billions , they also have the contratc to rebuild Iraq, not to ment the oil profits. We have the privilege of paying for it.

Halliburton also has a 390 million contract to build Civilian Inmate Prisons at US Military Bases. For whom. ???? They already got paid for the one at Guantanamo.

Answer 2

So just how bad is it?

What percentage of the Gross National Product does the trade deficit add up to?

Do YOU even know what you are talking about?

If you don't like the trade deficit why don't you get your fellow citizens to change their shopping habits then?

From TCS Daily: Between 1990 and 2002 more than 174 million people escaped poverty in China, about 1.2 million per month.[1] With an estimated $23 billion in Chinese exports in 2005 (out of a total of $713 billion in manufacturing exports),[2] Wal-Mart might well be single-handedly responsible for bringing about 38,000 people out of poverty in China each month, about 460,000 per year.

Answer 3

If this country would ever learn to get along with it's own we would never have this problem but as long as we continue to insist on charging so much for everything that is made in this country and then trying to charge those high prices from other countries for our over priced items this is why other countries won't purchase what this country sells.
Think about how hard it is for most of us to purchase what is made in this country and then think about how much lower the prices are from foreign countries and is it a wonder we have such a huge foreign trade deficit?
No wonder every country laughs at us.
This is just my opinion and I may get blasted for it so ask if I care.

Answer 4

Where? In the US? Yes it is... but it is possible because china is paying for it. Nobel prize winner Milton Friedman (free to choose) claimed that if they lend us money it is because they trust us. And, thus the enormous trade deficit is not a problem. For L'Enfant terrible Paul Krugman, the trade deficit is a problem. I think that the US is stretching the rope, but it is the only economy in the world where it is possible to stretch it.

Answer 5

Yes 'greekgeek' you are right to ask so and it is indeed huge. According to an estimate, every American is a debtor to other countries in the world to the tune of US$30000. Multiply this by 300 million (estimated current population) and the total will work out to 9,000,000,000,000,000! You can imagine how enormous it is! And, mind you, it keeps increasing every day and may double in a few years' time!

Answer 6

When you import oil at over $70 a barrel; it grows very rapidly. When no garments are manufactured in this country because of third would labor; it grows very rapidly. When plasma TVs and cell phones are made overseas, it grows rapidly. If our nation were truly concerned we would be naked, not driving, and staying home.

Answer 7

by certainty on an analogous time as funds are used distant places to purchase products and centers, the money would desire to be ultimately be used for something interior the U. S. -- the two to purchase products and centers or to invest in dollar denominated debt or fairness. What else would you do with it?

Answer 8

It is bad, but look at it this way. We have the money to buy bunches and bunches of stuff from other people. Since we're buying their stuff they should really care about our economy as it directly effects theirs.

Answer 9

Mighty Eight ball says: ask again later.

Answer 10

Yes, it is. We are leaving a very ugly inheritance to our children and grandchildren.