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Posted on 9/5/25 at 12:26 pm to RogerTheShrubber
quote:
Fake news.
We are the number two manufacturer in the WORLD, behind China who has four times the population.
Per capita we blow them away.
Youve been lied to.
Unfortunately, we are the number one consumer in the world. Which is why we run massive trade deficits. We consume more than we make and have done so for the last 50 years. That's why I sometimes refer to this as an overconsumption problem, because no matter how much sophistry political economists' use, a country cannot consume more than it produces in perpetuity. Eventually it will be overwhelmed by debt.
This post was edited on 9/5/25 at 12:27 pm
Posted on 9/5/25 at 12:28 pm to Adajax
quote:
Campbell's microwavable soups aren't in tin cans so why not use those containers for all soups. Some soups come in bags.
Kind of what I was thinking. Seems like they could switch to a softshell box and then charge a premium on canned with longer shelf life. Could even be a good thing for them but I have 0 days soup experience so maybe frick me.
Posted on 9/5/25 at 12:28 pm to wdhalgren
quote:
Unfortunately, we are the number one consumer in the world.
And somehow you folks have been convinced thats a bad thing.
Its not necessarily
Posted on 9/5/25 at 12:37 pm to RogerTheShrubber
quote:
And somehow you folks have been convinced thats a bad thing.
Its not necessarily
Good and bad is not the right terminology for this discussion. I prefer possible and impossible. It is impossible for the US to continue consuming more than we produce. We're financing those growing trade deficits by exporting dollars and subsequently borrowing them back or selling off US assets to foreign countries. We're borrowing massive sums to fund the govt because tax revenues increasingly lag expenditures in the face of growing poverty and dependency. These things are interrelated, thus the concept of twin deficits.
Posted on 9/5/25 at 12:39 pm to wdhalgren
quote:
It is impossible for the US to continue consuming more than we produce.
But you seem to be defining "what we produce" as some tangible widget built on an assembly line. There's a lot more to it than that.
Posted on 9/5/25 at 12:41 pm to wdhalgren
quote:
It is impossible for the US to continue consuming more than we produce.
Not when we use the disparity to create wealth in this country.
Which is what small and medium sized businesses do. There are reasons the original US tariffs ONLY applied to finished products and not components. Trumps tariffs are across the board.
Interestingly they put duties on US exports of components, not finished products. They understood something better than y'all do
Posted on 9/5/25 at 12:47 pm to RogerTheShrubber
quote:
It was. It closed in two weeks, put in for distribution 5 weeks earlier.
I got about half back when Your Orange God decided to postpone tariffs.
It's wise of you to avoid the actual quotes from you. Because I looked. The discussion you're talking about was in a completely different thread. Nice try though
Posted on 9/5/25 at 12:49 pm to Grumpy Nemesis
quote:
It's wise of you to avoid the actual quotes from you. Because I looked.
Posted on 9/5/25 at 12:49 pm to wdhalgren
quote:This isn’t the case. Wealth is not zero sum. Especially when you are the worlds reserve currency.
It is impossible for the US to continue consuming more than we produce.
Posted on 9/5/25 at 12:50 pm to RogerTheShrubber
Also there's literally no amount of typing you can do to salvage the second quote. That shite was completely indefensible and embarrassing and there's no forcing that to fit into your attempted retcon
Posted on 9/5/25 at 12:52 pm to Taxing Authority
quote:
It is impossible for the US to continue consuming more than we produce.
This isn’t the case. Wealth is not zero sum. Especially when you are the worlds reserve currency.
Yep, they believe trade has to be a win/lose transaction. Its not.
Trade can be and most of the time is win/win as long as govt keeps its grubby hands away.
Posted on 9/5/25 at 12:52 pm to wdhalgren
quote:Are we just going to pretend the baby boomers aren’t getting old enough to retire?
US labor force participation rate has dropped by 5% since the late 90's. That's the same time frame that our trade deficits exploded higher.
Posted on 9/5/25 at 12:52 pm to Grumpy Nemesis
quote:
Back to top
Also there's literally no amount of typing
Well, there is no hope for your illiteracy, Jethro.
Posted on 9/5/25 at 12:53 pm to Flats
quote:
But you seem to be defining "what we produce" as some tangible widget built on an assembly line. There's a lot more to it than that.
You can think about this any way you like but if a country imports more (gauged by value) than it exports, then it's consuming more than it produces. It will have to net pay (in whatever currency it uses) to foreigners for that excess consumption. That's assuming there is no hoarding/storing of those imports and they are being consumed.
Posted on 9/5/25 at 12:55 pm to wdhalgren
quote:
You can think about this any way you like but if a country imports more (gauged by value) than it exports, then it's consuming more than it produces
No.
Because much of what is imported are components which are added to finished products and add value, increasing wealth on the US side.
Posted on 9/5/25 at 12:55 pm to BigBinBR
quote:
Their action of buying almost exclusively from overseas has gotten them to where we are now.
A business operating in economic reality in order to remain competitive and stay in business......those mother frickers.
Posted on 9/5/25 at 12:56 pm to Taxing Authority
quote:
This isn’t the case. Wealth is not zero sum. Especially when you are the worlds reserve currency.
Yes, it is the case. Either by debt default or currency destruction, our excess consumption will end. At current rates of acceleration we're much closer to the end of our profligate spending than the beginning. "Reserve" currencies can be debased into oblivion too.
Posted on 9/5/25 at 12:59 pm to wdhalgren
quote:
Yes, it is the case
No, its not and hasnt been for a long time.
This is where mercantilism fails. It sees wealth as a zero sum game, and that reality has passed us by over a century ago.
Posted on 9/5/25 at 1:09 pm to Taxing Authority
quote:
Are we just going to pretend the baby boomers aren’t getting old enough to retire?
No, but that doesn't tell the whole story because it's happening in younger cohorts. For example, labor force participation by 15-24 year olds has dropped by 10% since 1990. Older people have actually been working longer to make ends meet.
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