All the Cunning of a Bag of Rocks…

I originally posted the following information and commentary onto my Facebook wall…

‘If We Didn’t Trade,’ Trump Argues, ‘We’d Save a Hell of a Lot of Money’:
https://reason.com/blog/2018/07/27/if-we-didnt-trade-trump-argues-wed-save?fbclid=IwAR2lGouSXBUNEN_tdI7FZqFU23GfcnAq5s9gN71pdu_uY9GofrrlH_9K60A

() “Our trade deficit ballooned to $817 billion,” Donald Trump said during a speech to steelworkers in Granite City, Illinois, yesterday. “Think of that. We lost $817 billion a year over the last number of years in trade. In other words, if we didn’t trade, we’d save a hell of a lot of money.”

According to the U.S. Census Bureau, the president exaggerated the size of the 2017 trade deficit by 48 percent. But that’s a mere quibble compared to his fundamental misunderstanding of what that number means, which in turn reflects a zero-sum view of economic exchange that does not bode well for the outcome of a tariff war supposedly aimed at promoting free trade.

(Read entire article here…)

My Commentary: He has the cunning of a bag of rocks.

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(All original portions of this work, by Rayn Kleipe, are licensed under a Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International License, while all redistributed links, images, sounds, videos, and writings are protected under 17 U.S.C. § 107: Fair Use, or under Public Domain)

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