Since the thread is a bit quieter now, can someone explain to me why having a constant trade deficit is a good thing? I've been reading people stating yesterday how there's nothing wrong with a trade deficit, but what's good about it? Surely more money leaving the country than entering is a bad thing long-term?
I think it's pretty obvious that you don't get rich by spending money
If I buy a book at my bookstore, then I have a trade deficit with the bookstore
yeah, but if you have less money coming in from your job than your money going out, you will eventually be homeless
but what about the value unlocked by enjoying that good or service?!?!
Yeah it's not like you get nothing in return. You get the shit you bought, and you lose the money you spent to buy it. We aren't just handing money away, but I don't think it's a good idea to run up such a large fucking trade deficit for so long. It's trillions of dollars at this point. We built china, which was very stupid, and now they are a near peer foe to us. We built them. What did we get? Did trading with china transform our economy? Did we get 10% GDP growth for two decades and blast off into the future and just get more ahead? No.
No one ever got rich by spending money at the grocery store. I think it's pretty obvious that the person profiting the most from any business is the business selling their shit, not the customer buying it. Otherwise the business wouldn't be selling their shit cuz they can't make a profit.
America needs to get back in the business of making money, not spending it.