Thriftville vs Squanderville

A look at our nations trade deficit

Category:

Education

Tags:

• Thriftville
• vs
• Squanderville

[palmbeachcitizen]

What Warren is saying is that we need to CREATE something in this country if we are to stay strong. We need to MANUFACTURE GOODS and to sell them overseas. We have to stop buying from China, Mexico and the like and start buying from OURSELVES. Otherwise, we will soon be as poor as the countries we are buying from now.

[Togepi271]

America will sell Alaska to China when they default at some point, maybe Hawaii too.

[ronoc9]

America has only two last advantages over China it desperately needs to exploit; Creativity and Capitalism. The Chinese system doesn't value independence, instead believing technical perfection is enough. Couple thousands kids there know HOW TO play a piano, but can't play a song emotionally. America needs to invest in creative and original business adventures. This is where capitalism comes in. Because as China becoems more powerful, it's communist system will be destroyed by their own youth.

[soups347]

An Inflation-Neutral Balanced Trade System (BTS), inspired by Warren Buffett’s 2003 Import Certificate Plan is introduced at the top of page 4 of the Pdf, which is available at:

democrats.waysandmeans.house.g­ov/media/pdf/111/2010Sept15_Ca­mpbell_Submission.pdf

[sklingonsmith]

@BabyEater9000 -- You should research "money creation." Even reading Wikipedia might be a good start for you. YouTube is hardly the place for intelligent discussion, but lets hypothesize a bit more.

Is China then going to insist we pay in gold or yaun at Walmart? If they took all that currency home instead of "re-investing it in U.S. Treasury bills", could they keep their people on slave wages and keep the Yuan pegged artificially low to the dollar? Would exports and their economy suffer?

[BabyEater9000]

@sklingonsmith in that case, they stop accepting the currency as a form of payment. You're stupid.

[82snowball]

The problem is the USA will find it difficult to compete in the manufacturing side simply because American labour is to expensive.

[deltab53]

@sklingonsmith In other words you are saying we should have all the foreign goods which would be in our land fills, and at the same time have worthless money.

Think of it this way, how long will those goods be goods? How long will you have your cell phone before you replace it? How long will you have your TV? At some point it will be garbage and we won't be able to replace it, with your argument.

[sklingonsmith]

What if you can just print more money to pay your bills? The USA ends up with all the foreign goods and they end up with all our devalued worthless currency. The greenback makes great toilet paper. Who is really at risk here?

I am glad Warren is not a nuclear scientist.