Loading...

Jeffrey Sachs on Trump’s Trade Fallacies - Hallo friend WELCOME TO AMERICA, In the article you read this time with the title Jeffrey Sachs on Trump’s Trade Fallacies, we have prepared well for this article you read and download the information therein. hopefully fill posts Article AMERICA, Article CULTURAL, Article ECONOMIC, Article POLITICAL, Article SECURITY, Article SOCCER, Article SOCIAL, we write this you can understand. Well, happy reading.

Title : Jeffrey Sachs on Trump’s Trade Fallacies
link : Jeffrey Sachs on Trump’s Trade Fallacies

Jeffrey Sachs on Trump’s Trade Fallacies

I heard on some news show an incredibly statement from our President earlier today and in utter disbelief fired off this comment on some blog:

Trump equates our trade deficit with us being ripped off. Let’s do this as a simple example. You walk into Best Buy and purchase a $1000 computer but do not have cash. So you put it on your credit card incurring a $1000 liability. Even though you now have the computer and Best Buy does not – Best Buy just ripped you off as you have a $1000 financial obligation. An odd statement from someone who routinely defaulted on his financial obligations!

Never mind that as on Friday Jeffrey Sachs beat me to this:

But don't expect an impulsive and ignorant man like Trump to heed the lessons of economic history, logic of retaliation, and the basics of trade. His actions are based on three primitive fallacies. First, Trump thinks that America runs trade deficits with countries like China and Germany because the US is being swindled by them. The real reason is that the US saves too little and consumes too much, and it pays for this bad habit by borrowing from the rest of the world. The Trump theory of international trade is like a man in deep debt who blames his creditors for his spendthrift behavior. Come to think of it, that is precisely how Trump has spent his whole business career: over-borrowing, going bankrupt, and blaming his creditors.

Check out his discussion of the other two primitive fallacies! I guess Trump would argue that it was very unfair to me when Best Buy gave me a credit card.

I heard on some news show an incredibly statement from our President earlier today and in utter disbelief fired off this comment on some blog:

Trump equates our trade deficit with us being ripped off. Let’s do this as a simple example. You walk into Best Buy and purchase a $1000 computer but do not have cash. So you put it on your credit card incurring a $1000 liability. Even though you now have the computer and Best Buy does not – Best Buy just ripped you off as you have a $1000 financial obligation. An odd statement from someone who routinely defaulted on his financial obligations!

Never mind that as on Friday Jeffrey Sachs beat me to this:

But don't expect an impulsive and ignorant man like

Loading...

Trump to heed the lessons of economic history, logic of retaliation, and the basics of trade. His actions are based on three primitive fallacies. First, Trump thinks that America runs trade deficits with countries like China and Germany because the US is being swindled by them. The real reason is that the US saves too little and consumes too much, and it pays for this bad habit by borrowing from the rest of the world. The Trump theory of international trade is like a man in deep debt who blames his creditors for his spendthrift behavior. Come to think of it, that is precisely how Trump has spent his whole business career: over-borrowing, going bankrupt, and blaming his creditors. Check out his discussion of the other two primitive fallacies! I guess Trump would argue that it was very unfair to me when Best Buy gave me a credit card.

Thus articles Jeffrey Sachs on Trump’s Trade Fallacies

that is all articles Jeffrey Sachs on Trump’s Trade Fallacies This time, hopefully can provide benefits to all of you. Okay, see you in another article posting.

You now read the article Jeffrey Sachs on Trump’s Trade Fallacies with the link address https://welcometoamerican.blogspot.com/2018/03/jeffrey-sachs-on-trumps-trade-fallacies.html

Tweet

Subscribe to receive free email updates: