The dollar’s status as the sole transaction and reserve currency of the world gives America’s federal government unique privileges. International demand for dollars enables federal budget deficits. It also creates an incentive for trade deficits, because incoming investments effectively collateralize American currency. To perpetuate this multi-decade debt binge, America’s real estate and corporate assets are for sale to any foreign investor with surplus dollars.
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Commentary: Contrary to Some Conservatives’ Slavish Devotion Free Trade Dogma, Trade Deficits Do Matter
by Spencer P. Morrison Steve Hanke recently set out to prove “why President Trump’s trade message and protectionist policies are rubbish” in a Forbes article. Instead, the Johns Hopkins University economist exposed himself as a word-mincing, logic-twisting sophist – just like every other intellectual mercenary associated with the faux-libertarian propaganda mill that is the…
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