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The nearly permanent US trade deficit is getting a lot of attention. Surely, it’s a bad thing to send so much money outside the US when it could be providing jobs to American workers, yes? The problem largely goes without saying, and is never actually discussed.
But are trade deficits really that bad? As with most things in economics, the short answer is no but the long answer is yes. Let’s discuss.
Difficult time appear to cal for action, but they demand first and foremost character and judgment. Unfortunately, Sen Elizabeth Warren failed spectacularly at demonstrating both.
Her desire to take a new approach to countering bullying and nonsense in public discourse is understandable, but it takes a lot more than a cute gimmick. Worse, her inability to navigate the delicate issues of race and identity have demonstrated that Democratic leadership is still generally clueless about this topic and will continue to only make things worse.
The Kavanaugh hearing was the most flagrant display yet of the sicknesses at the core of the United States. The tribal divisions were more bare than usual. No one cared about clear abuse of women or obvious ongoing alcohol addiction issues or rather obvious lying that demonstrated how clearly unfit the many is for a judicial position. He was their boy, and that was enough for him to get away with it.
There are no principles left for the nation, only force.
We can and likely will get past some of the worst of this after the November election. Then again, the rise of one party to a position of power and the ability to check these abuses will only make the situation worse in the immediate term. It’s hard to know how to get past this.
Ten years ago, Lehman Brothers collapsed in a pile of overextended debt that could not be sustained by a weakening housing market, stock market, and many other bubbles. It would later be called the end of the “housing bubble” as a general panic ensued over the asset most commonly held by the general public.
But the issue at hand was, more generally, a debt crisis which fueled an unsustainable rise in asset prices in many areas. Banks were caught with more liabilities than assets as loans that should never have been made defaulted.
Today, banks are more wary, especially of consumers. But corporations have been racking up debt to a level that many feel is unsustainable.
Throughout the day, rumors have been circulating that Assistant Attorney General and overseer of the Mueller probe Rod Rosenstein was about to resign or be fired. The decision has apparently been put off until Thursday.
This is the beginning of an actual constitutional crisis, a conflict within the republic but outside of the Constitution itself. It does not automatically lead to the firing of Mueller, but it makes it much more likely. This is a time for all Americans to be ready to act to preserve freedom as we know it.
Barataria - The work of Erik Hare 