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| Trade deficits can be problematic but cannot be looked at in a vacuum. Trade deficits were not problematic in the capacity the general public is being sold. A far more urgent and greater problem is debt to GDP. JC, your solution is actually what I think Trump will end up doing - resolving this by greatly accelerating national debt. This is a bad solution to a problem that frankly, wasn't nearly the problem they pitched.
Now I will hedge that with this statement. There are indeed some targeted sectors of national security importance that did need attention. Blanket tariff policy, and the resultant money printing that we will inevitably resort to - are bad policy. | |
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Couple things
