In 2016, the U.S. actually had a deficit in goods of $750 billion. Yet the U.S. also runs a large surplus in services such as tourism, financial advice and intellectual property rights — or patented products that foreign companies license for a fee.
The services surplus totaled $247.8 billion in 2016, cutting the overall deficit to $502 billion.
Although the U.S. has a big advantage in services, most countries are loathe to open up some of their most sensitive domestic markets to the influence of Wall Street and the like.
I spent the last 11 days in Montana and Wyoming, six of those days in Yellowstone, no tv, no news. Except for the Super Bowl, I watched that in real time on my phone, awesome freaking game. Then I went out at night to shoot Old Faithful under the stars. One minute the sky is clear, the next it’s snowing like a bitch and we got 10 more inches.
Anyway, how can trump fix this or anything? $60 Trillion in private and public debt, the notion that Trump can fix the deficit and we can grow out of this debt is naive. Default on the debt or debase the currency, pick your poison, I’m just along for the ride.
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Return productive industry to America.
You left that option out.
The other day some apologist for the globalists noted that BMW largest auto plant is in South Carolina. “What more can they do” as if he did not know that the motors, transmissions, axles and most every other high value component was imported. Auto Assembly plants are the bottom of the industrial food chain and BMW or Honda ( which also has a plant in South Carolina) can farm that out to the US and still keep 75% of the value added in Japan or Germany.
As the chart in the article shows the US runs a huge deficit in auto components. Even our ‘domestic’ auto companies import the high value components from their foreign factories. That has got to change or we put tariffs on the imported parts.
TARRIFS CAUSE TRADE WARS … JUST SUBSIDISE FACTORIES IN USA … NO TAXES ON BUSINESS !!!
WE CAN DO IT ! TAXES ARE P[OLITICIANS WAY OF ENSLAVEMENT !