Article

2022-01-27 Economy

US Trade Deficit Tops $1 Trillion for First Time

[Free Beacon] The U.S. trade deficit topped $1 trillion for the first time last year, according to Market Watch.

The deficit jumped from $893.5 billion in 2020—the nation's previous record—to $1.08 trillion in 2021. The United States' economic recovery from the coronavirus pandemic has outpaced other nations, spurring increased demand. But Americans have tended toward buying more foreign goods as U.S. businesses have struggled with supply chain shortages caused by worker illness due to COVID-19 as well as government-imposed restrictions and mandates.

During a marathon press conference last week, President Joe Biden credited his administration with having fixed supply chain disruptions brought on by the pandemic.

"I often see empty shelves being shown on television," Biden said. "Eighty-nine percent are full, which is only a few points below what it was before the pandemic."

But supply chain issues are still being reported, especially in the auto industry, where new car sales still lag their pre-pandemic levels. Manufacturers reported about 15 million new vehicle sales in 2021—2 million less than the year before the pandemic.

Posted by Besoeker 2022-01-27 03:31|| || Front Page|| [11127 views ] Top

#1 This is deliberate enemy action by our elites. If they wanted, they could bring back the jobs in an instant. But they don't want to because that would benefit us. Instead we get to finance the rest of the world's development - and all we get for it in return is zero thanks and the contempt of everyone.

Posted by Sheter the Lesser9291 2022-01-27 03:53|| 2022-01-27 03:53|| Front Page Top

#2 The keys to high profit margins are lower production costs and pay. The globalist oligarchs are in control. China is their vehicle. But I suspect you already knew that. It's the doing something about it that is difficult.

Closed yesterday:
Walmart Inc = 135.75 USD
Target Corporation = 211.71 USD
Home Depot Inc = 357.28
Lowe`s Companies Inc = 228.10 USD
Belk, Inc. = 78.00 USD

Posted by Besoeker 2022-01-27 06:02|| 2022-01-27 06:02|| Front Page Top

#3 One Elite to another: "No messy factory to lower my condo's value!"

Posted by magpie 2022-01-27 11:47|| 2022-01-27 11:47|| Front Page Top

#4 As stupid as they are venal. Massive trade deficit with Germany -- who stiff Brandon and ignore his blithering exhortations.

And saber-rattling vs Putin -- and (as predicted) Gazprom stock is now soaring. I'd bet dollars to donuts that Pelosi, Kerry, et al. loaded up on $OGZPY last week.

Posted by Merrick Ferret 2022-01-27 12:00|| 2022-01-27 12:00|| Front Page Top

#5 Trade deficits matter. There is an old [ethnic] joke: "Three [insert ethnic label] merchants are shipwrecked on a desert island with one hat. The sun burns fiercely so ...montage... 'after ten years of trading the hat they were all rescued as millionaires!'"
TL/DR: at some point to make Real wealth you need to produce a Real product. Wealth and 'money' are two different things.

Posted by magpie 2022-01-27 12:13|| 2022-01-27 12:13|| Front Page Top

#6 ^ Apropos of g@mbling toothpicks. Or bitcoin.

Posted by M. Murcek 2022-01-27 12:15|| 2022-01-27 12:15|| Front Page Top

#7 Insanity. Capital investment here to rebuilt the lost industrial base, stop the invasion of penniless, ignorant, welfare recipients-to-be by the millions to flood the nation, re-embrace the Monroe Doctrine and accept we are not the America of 1967, either culturally or financially. By the grace of God and the efforts of those who built America, we have two oceans and a tiny border at the bottom of the continent. Time to fix ourselves the the mess below the border, and let the rest of the world act like sovereign nations responsible for their own welfare. We are dangerously close to losing it....

Posted by NoMoreBS 2022-01-27 12:45|| 2022-01-27 12:45|| Front Page Top

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