people are talking about how trump is stupid for confusing a trade deficit with a budget deficit, but the underlying issue is that everyone who demagogues about The Deficit is stupid
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Ah the joy, which comes with pain. Lots and lots of pain.
I guess the silver lining is that the non-lunatic FED regulators/commentators realize that the ‘08 recovery shouldve spent and hired and built more bc there was labor mkt slack.
And boy this crash looks like it’s creating a lot of slack.
35 or 40 years ago, both the trade deficit and budget deficit were talked about a lot. I think they tended to get conflated in people’s minds. I guess at least one idiot never moved on from that time. I wonder what younger people who weren’t around for that make of what is happening.
I just said this, but Trump has the same understanding of economics as the majority of Republican voters. His feelings on trade deficit are just as rooted in reality as the belief that illegal immigrants are to blame for layoffs.
Maybe completely separating your politics from reality is bad.
You have to give it to Rand Paul and Thomas Massie. Their religious belief in starving poors for the deficit has led them to be an occasional thorn in the side of Donald Trump.
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I guess the silver lining is that the non-lunatic FED regulators/commentators realize that the ‘08 recovery shouldve spent and hired and built more bc there was labor mkt slack.
And boy this crash looks like it’s creating a lot of slack.
Maybe completely separating your politics from reality is bad.
Woke: Demagoging about the Bush and Trump Tax Cuts.
like... guys, the trade of goods and money is THE zero sum game, a deficit just means a trade has happened