SeekerBlog

If we all keep hammering our personal networks, we may diminish the level of nonsense the press propagates about the “trade deficit” as “living beyond our means”. E.g., I liked Don Bodreaux’s quote of Jack Wenders (Emeritus Professor of Economics at the University of Idaho):

If China buys lumber, concrete, steel, furniture, etc. from the US, it’s considered great. But if China buys exactly the same material embedded in a building within the US, it’s considered bad. Go figure.

Go figure indeed. I sincerely wish that no national trade statistics were gathered. People would then be a tad less likely to sink into nationalistic mindlessness when thinking about and discussing trade issues.