The United States is poised to rack up a record trade deficit this year. Politicians and the media will make a big deal about this, but the truth is that trade deficits really don’t matter. Trade is simply an exchange. So long as it’s voluntary, by definition, both parties are better off.
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Quick Hits
US Debt
https://www.cnn.com/2020/10/08/economy/deficit-debt-pandemic-cbo/index.html
https://fred.stlouisfed.org/series/GFDEGDQ188S
Facebook Currency
https://news.trust.org/item/20201012143626-bfcy3
Foolishness of the Week
Super Trump
Topic of the Week
Trade Deficit
https://fred.stlouisfed.org/series/IEABC
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