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Re: last off topic, sorry....

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akester wrote:

Sorry, but this is just silly. With all due respect Bill, you WAY oversimplify things, then make invalid points

I'm sorry, and have due respect, and all that.

But in fact, I'm pointing out, not how "simple" things are, but how COMPLEX.

It is an OVERSIMPLIFICATION to infer that a "balance of trade" is simply a two-way conversation. You have a "balance of trade" with one guy, and that tells the story. That's what people like YOU choose to believe.

It is a FACT that my "balance of trade" with my local grocery store is completely one-sided. That's an "oversimplification" ONLY if you choose to believe that thi is a closed-system. It isn't.

Rather, I receive economic emoluments from a number of sources, and then there are outflows TO a number of sources. The rivulets of economic activity flow back and forth, up and down, over and under, ad infinitum.

Looking at just ONE stream of transactions, even if it is a MAJOR one like Chinese-U.S. trade, is like noticing the course of the Gulf Stream and concluding that sums up all of the currents in the ocean.

So I repeat: It is YOU who are being simplistic. I'm just making note of the fact by illustrating how absurd it is.

Indeed, talking about a "balance of trade deficit" with China in and of itself, without regard to any other economic factors, is as absurd as my saying "I'm in severe economic difficulty because my grocery store manager won't buy engineering services from me."

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