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0 sats \ 1 reply \ @028559d218 16h \ on: Trade deficits are fiat + more on whether fiat is theft econ
The trade deficit as far as i'm concerned... results from the US consuming more than it produces. it's not a 'trade' deficit so much as a fiscal deficit... because the excess consumption is funded through borrowing.
fix the fiscal deficit... fix the trade deficit can't have one without the other
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0 sats \ 0 replies \ @SpaceHodler OP 16h
One of my points was that it produces dollars. So from that perspective it doesn't really consume more than it produces.
However, since those dollars are money, they may be grossly mispriced, and the market may keep them mispriced for a long time.
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