U.S. Dollar based expats beware -- Trump goal is to weaken the dollar
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China warns ,don’t appease trump
You really are embarrassing yourself and you really should just stop. Now you're trying to pretend you didn't say what you said? "Trump may not want that but he doesn't betray much understanding of how the trade works. For instance, he has the crazy notion that if your trade balance runs a deficit, that means you're losing and it's the fault of tariffs." Moreover, a discussion of the world reserve currency is absolutely relevant, regardless of what you seem to think. "And it's not even clear that you understand this issue. What has the US being the world's reserve currency got to do with the basic economic fact of currency flows?" The world reserve currency is central to any discussion of world currency flows and cannot be divorced from the tariff issue or the current negotiations with China and other countries. In short, it isn't simply a question of tariffs and who has a trade deficit, it's a question of the extent to which the trade deficits are out of line with actual trade levels and patterns. Everyone knows or should know that having the world reserve currency goes hand in hand with running a trade deficit. It's called the "Triffin dilemma." It's nothing new in the world of finance and economics and was noted by an economist named Robert Triffifn in the 1960s. So, it's not that the US has a trade deficit with China or any other country. That goes without saying, depending on trade patterns. What matters to Trump and what matters to his advisors is that the extent to which the trade deficit, particularly with China, reflects something more than just the balance of trade. Currency manipulation, for example. Or, governments subsidizing entire industries. Or the theft of intellectual property and the effects of political corruption. In other words, Trump is trying to achieve a level playing field and wants to use tariffs as a tool to accomplish just that. Many economists will tell you that tariffs are a stupid way to proceed, but maybe not. If the system were not broken, it might be worth a shot at trying to make adjustments through more traditional means. If there were no corruption and no continual theft of intellectual property as a business model, traditional diplomacy might work. But none of that has worked in the past and Trump wants to use tariffs. Navarro's idea? Anyway, that's what's happening and that's why we discuss the world reserve currency. -
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Crime Irish Man Stabbed in Brutal Attack Outside Pattaya Condo
Are Thai Po Po's wearing body cams now??? 😮 -
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Transgender Inmate Sues Trump, Claims His Rhetoric Incited Prison Rapes
A death sentence would have saved all this expense and bovine excrement.
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