Re: Trade deficits are always detrimental to their nations’ GDPs.
I understand the statistical relationship between trade deficits and GDP.
No, you've just said, 'a nations global trade imbalance amounts to significant extends understate their affects upon their nations GDP.'
That's not an explanation of anything. It doesn't even make grammatical sense... It's total gibberish.
Yes, statistically speaking and according to the conventionally accepted definition and calculation of GDP, trade deficits always subtract from a nations GDP... Outside the realm of statistics, you have offered no explanation as to why a trade deficit is bad:
Personal level: "Inconsequential"
City level: "Inconsequential"
County level: "Inconsequential"
State level: "Inconsequential"
National level: "Detrimental"
Q. Why do you consider a national trade deficit detrimental?
A. Because, statistically, it counts against the nations GDP.
Q. Well the same is true if you calculate GDP on all the other levels, why are they "inconsequential"?
A. Because the other levels do not control trade policy.
Q. So if trade policy were not set at the national level, the national trade deficit would become "inconsequential"?
A. Due to your rejections there's no point in discussing the additional fallacies or contradictions within the remainder of your messages.
Totally false. I understand that, statistically, a trade deficit counts against a nations GDP. What I reject is the unsubstantiated claim that trade deficits are somehow bad outside the realm of statistics.
Where do the benefits of a trade deficit factor into the conventionally accepted definition and statistical calculation of GDP?
I know for a fact that my ability to purchase foreign goods cheaper than domestic goods greatly adds to my standard of living, yet there is no statistical device within the "conventionally accepted definition and calculation of GDP" that even attempts to consider my improved standard of living as a result of our trade deficit.
I must have struck a cord by pointing out that the Buffet plan does absolutely nothing to increase America's ability to compete in the global market because you are just doing everything you can to avoid admitting that inconvenient truth.
