Great news folks… International trade numbers are in, and the U.S. successfully imported $40+ billion more in goods and services than it exported last month… I.e:
*The free-to-do-business-anywhere U.S. consumer (and institutions) continues to find bargains worldwide… Which leaves her with more in her pocket with which to save, invest in her kids’ education, spend at local businesses, etc…
*Foreign producers have 40 billion more U.S. dollars with which to invest in U.S. stocks, bonds, real estate, job-creating enterprises, etc…
*U.S. businesses, employing huge numbers of U.S. citizens, continue to profit from the bargains they offer U.S. consumers through their foreign supply chains…
*The U.S. dollar is still a valuable commodity… I.e., foreign producers are so eager to accumulate them that they produce [11.5% of] the goods we need at the lowest possible prices…
Like I keep saying;
Protectionism is a most exploited, pernicious and, sadly, pervasive economic fallacy