Our readers might want to note yet another half-trillion dollar annual trade imbalance. Just reported by the U.S. Census Bureau, January 2017 trade numbers have plummeted deeper into the deficit pit.
Aggregated, these United States are in an $11+ trillion dollar trade hole…despite all of the talk by promoters of yet more alphabet trade “agreements”.
We said in our 2014 state platform update, and we reiterate our position, that no deal is better than a bad deal. With a hemorrhage of $11+ trillion out of our productive domestic economy, we would be better off not trading at all…despite the rampant “you’ll ignite a trade war” fear mongering.
At this point, that has every appearance of already happening…any drive through former industrial cities in the American heartland shows the economic carnage and the shell pocked manufacturing landscape.
We suggest, instead of continuing with systemic half trillion dollar imbalances, investing that foreign trade loss here at home. Upgrade and modernize our own plants and infrastructure. Increase our competitive position and our productive efficiency. And if that is truly what President Trump is seeking to do, then he has our full support.
At some point, the present trade imbalance cannot be serviced.
Having substantially less than two trillion dollars in circulating currency within the whole of the American economy, that $11+ trillion imbalance is put into perspective. It’s enough to induce vertigo.
CP-Idaho believes that the “alphabet trade deals” have been falsely advertised to the American public. We’ve been duped. The playing field is not level, or anything close to it.
If these so-called “free trade” deals are so successful, then surely someone among their vociferous and numerable advocates in Washington D.C. could at least point to one single solitary net national annual trade surplus somewhere. We find not one since 1976…over 40 years ago.
Nixon’s “Opening of China,” not so much. More like the opening of American veins. Pretty soon, they’ll be coming to harvest our organs as well.