Jimdamick
Well-Known Member
Why am I not surprised by this news report released yesterday.
The U.S. trade deficit jumped to its highest level in 10 years, according to a U.S. Department of Commerce report on Wednesday. Despite President Donald Trump’s repeated promise to shrink trade deficits, it leaped by 12.2% to $621 billion in 2018, after hitting a record high during his first year in office.
The real goods deficit in December reached $91.6 billion — its highest level since 1994. The recent widening in the deficit has been driven in part by weakening exports, according to Daniel Silver, an economist at JPMorgan. Nominal goods exports to China tanked by 33% year-over-year in December, likely as a result of China’s retaliatory tariffs on U.S. goods.
The tax cuts may also contribute to the jump in trade deficit. Derek Scissors, resident scholar at American Enterprise Institute calculates the tax cuts could boost the trade deficit by $200 billion.
This is what happens when lies and pure bullshit comes face to face with the reality of being in charge of the worlds largest economy, and there's no heading back for at least another 2 years
Then the American people will probably elect a Democrat to repair the damage caused by the previous Republican Administration, and then he or she will spend the next 8 years fixing it, accomplish the repair and by then the American people will have forgotten how fucked up Republicans are, and then they'll elect them again, and you can guess the rest.
Actually, there no guessing nessecery, just read about election cycles in the US.
Fucking idiots
Oh, and just a side note, the Dow Jones average dropped 133.17 points yesterday, and I can't wait to see how the other world stock markets react to that magnificent (chilling?) report.
The U.S. trade deficit jumped to its highest level in 10 years, according to a U.S. Department of Commerce report on Wednesday. Despite President Donald Trump’s repeated promise to shrink trade deficits, it leaped by 12.2% to $621 billion in 2018, after hitting a record high during his first year in office.
The real goods deficit in December reached $91.6 billion — its highest level since 1994. The recent widening in the deficit has been driven in part by weakening exports, according to Daniel Silver, an economist at JPMorgan. Nominal goods exports to China tanked by 33% year-over-year in December, likely as a result of China’s retaliatory tariffs on U.S. goods.
The tax cuts may also contribute to the jump in trade deficit. Derek Scissors, resident scholar at American Enterprise Institute calculates the tax cuts could boost the trade deficit by $200 billion.
This is what happens when lies and pure bullshit comes face to face with the reality of being in charge of the worlds largest economy, and there's no heading back for at least another 2 years
Then the American people will probably elect a Democrat to repair the damage caused by the previous Republican Administration, and then he or she will spend the next 8 years fixing it, accomplish the repair and by then the American people will have forgotten how fucked up Republicans are, and then they'll elect them again, and you can guess the rest.
Actually, there no guessing nessecery, just read about election cycles in the US.
Fucking idiots
Oh, and just a side note, the Dow Jones average dropped 133.17 points yesterday, and I can't wait to see how the other world stock markets react to that magnificent (chilling?) report.
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