r/Foodforthought • u/UnscheduledCalendar • 21h ago

Trade deficits do not make a country poorer

https://www.noahpinion.blog/p/trade-deficits-do-not-make-a-country
33 Upvotes

91% Upvoted

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5

u/Zealousideal-Steak82 11h ago

Great work from Noah, muddling the water with a terrible metaphor, somehow getting "trade deficit" and "national deficit" confused and based on that implying that importing goods gets turned into government debt. Why is he talking about issuing T-bills? The world does need a simple article to navigate these concepts and rhetoric, but not from such a confused person.

3

u/Thats_what_im_saiyan 10h ago

I've got to feed 330 million people, so i import 330 million meals from country x. country x only has 10 million people in it. so it only imports 10 million meals from me (i know it doesnt make sense to import from each other like that but work with me).

That means were importing 320 million more than were exporting. Because were a big ass country. it doesnt mean something needs to be fixed.