Thursday, January 13, 2005

Less is More, Debts are Assets ...

From many news sources comes the word that once again the US trade deficit has achieved new highs (lows?), with the trade gap in November topping $60 billion for the first time ever.

Though economists are apparently united in concern that America's debt is too heavy a load, we need not worry, according to Treasury Secretary John Snow, who "...said in a telephone interview that the deficit was a sign that the American economy "is growing faster than those of our trading partners in the Eurozone and in Japan."

Um. Okay. Meanwhile, though, it's important to keep in mind that our deficit with China is now topping $16 billion.

The New York Times article goes on to say: "He [Snow] blamed the United States' wealthy trading partners for growing too slowly and failing to buying enough American goods and services. He said that Europeans and the Japanese needed to expand their economies and buy more American products to improve the United States' trading picture..."

Since a lot of the rest of the world is fed up with the US & our insane policies, people just aren't buying American any longer. Is Snow unaware of this?

No comments: