Wednesday, April 13, 2005

The Trade Deficit Goes Up-- Again

The trade and budget deficits represent not how much the people owe the government, but how much the government and elites owe the people. The trade deficit goes to the deliberate and malicious weakening of the productive sector of the economy. The budget deficit comes from tax breaks for the wealthy and imperialism through endless war.

The article is pessimistic.

The U.S. trade gap surprised many analysts by growing another $2.5-billion (U.S.) to $61-billion, or 4.3 per cent between January and February, the U.S. Commerce Department reported yesterday.
Imports also hit a new high of $161.5-billion, up 1.6 per cent, paced by rising purchases of crude oil, cars, pharmaceuticals and various consumer and industrial products. END QUOTE.

We could produce our own cars and sell them.
We could produce every pharmaceutical we need and distribute them at low costs.
We could produce our own consumer, industrial products. The trade deficit represents the unwillingness of the corporate elites to invest in the American economy and toward improving GDP.
Wealth, they assert, comes from investment and markets. Without production or productive capacity, investment and markets are dead letters.
All we make any more is war.

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