I.O.U.S.A. Bonus Reel: Warren Buffett on the Trade Deficit

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Available at a local retailer or online at http://www.shoppbs.org/product/index.jsp?productId=3445713 and at http://www.amazon.com/i-o-u-s-David-Walker-Peterson-Foundation/dp/B001P9G3HE/...

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[jprithvi]

Republicans are not conservative. They are just crony capitalists.

[geekrelief]

I saw this opening night along with the panel discussion. The movie was a good introduction to the problems, but spends nearly zero time on discussing the solutions none of which cover the Fed which induces spending with low interest rates leading to the spendthrift attitude of the characters in this clip.

Check out Peter Schiff's Crash Proof, the film Money Matters on Google Video, or Ron Paul's writings on monetary policy if you want to take the next steps in understanding the causes.

[soups347]

“The U.S. trade deficit is a bigger threat to the domestic economy than either the federal budget deficit or consumer debt and could lead to ‘political turmoil.’ Pretty soon, I think there will be a big adjustment.” -- Warren Buffett

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

[hoodoo961]

The real problem here is not even trade per se, its the simple problem of saving versus consumption- the exact same thing happens to a household that spends too much money without saving enough to acquire assets- the savers own your ass. But people frame this as some kind of problem of free trade, when in reality its a problem of the low savings in this country.

[welldonemister]

USA is doomed

[needmanshini]

@kaziqbal That is the oppertunity cost forgone to eat the burger. Basically the trade isn't at fault, it is the spending habit at fault.

[kaziqbal]

When you go to McDonalds to buy a burger you don't say I bought a burger from them but they didn't buy anything from them. I better go do the dishes at the back to make for this deficit.

If you bought the burger with debt that's your fault, not the process of trade

[kaziqbal]

well said Truthpolice9698

[albyva]

The US can't because the Federal Reserve controls the currency.

[Truthpolice9698]

Buffet must have flunked international trade class. If Sqanderville want to they can devalue their currency and screw Thriftville.

The Japanese learned this the hard way and so to will the Chinese.

Mercantilism doesn't work and went out of style in the 18th century Mr. Buffett.

Buffett is a tool of the left used to keep the peasants stupid and ignorant. Buffett and his elitist assholes want to keep the peasants stupid and poor.

Get this propaganda shit out of here.

[allymetoo]

Wolves in Sheep's clothing. Don't listen to them. Never trust them.

The only Solution is the Andrew Jackson way.