trade deficit

Cheap Imports Backfire on America’s Retailers & What’s Left of Our Economy

By / 7 Comments / 30 September 2014

Summary: Globalization and free-trade, combining to an irresistible force, have reshaped the world since WW2. As that era ends, and we enter a perhaps tumultuous transition to a new and different era, we should examine the calculus of its benefits and costs. Today’s analysis by Alan Tomelson helps us take a first step. . “Cheap …

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We’re still blinded by our fetters of the mind and so unable to fix the economic crisis

By / Leave a Comment / 15 January 2015

Summary:   As we approach the 3 year birthday for this recession it becomes desperately clear that our leaders understand neither what’s happening nor how to fix it.  A host of quacks have come forth with facile analysis and often painful cures.   The same situation often prevailed in 19th century, when immature medical theory allowed quacks to …

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The trade deficit is growing. That tells us something important.

By / Leave a Comment / 17 November 2014

The trade deficit excluding oil has returned to where it was before the recession.  (Including oil, it is better than Dec 2007 — as the recession has given a respite to the approach of peak oil).  This is more evidence that the recession — and our response to it — produced no structural changes.  No fixes …

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A look at the new world – after the downturn

By / 34 Comments / 9 May 2015

Summary:  We can only guess at the outlines of the new world that lies beyond the post-WWII geopolitical regime whose death-throes dominate the headlines.  This post explains why we can only guess, and gives a list of my guesses. The end of this downturn will be like a singularity in astrophysics, where the rules break down.  …

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What do we know about the financial crisis? What are the key questions?

By / 8 Comments / 8 August 2019

Amidst all the blather about the financial crisis, I believe two things are clear. We — everybody — have more questions than answers. We, the American people, are fools.  These events should spark thought about our fitness for self-government. This post discusses the questions, the details about the crisis.  As usual for this site, let us …

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