“Our enemies are innovative and resourceful, and so are we. They never stop thinking about new ways to harm our country and our people, and neither do we.” - George W. Bush

All The Best

THE ELEPHANT BAR IS CLOSED

I want to thank everyone who participated in the Elephant Bar over the past twelve years. We had millions of visitors from all around the World and you were part of it. Over the past dozen years, two or three times a night, I would open my laptop and some of you were always there. I will miss that.

My plans are to continue my work with technology and architecture. You know my interests and thoughts.

At times, things would get a little rough in the EB. To those of you that I may have offended over the years, I apologize. From all of you, I learned and grew.

An elephant never forgets.
Be well.

Deuce, 21 June 2018

Tuesday, June 12, 2018

The End of the New World Order




Let us find graceful ways to restore the trade balance

From Harold Seneker, Fair Lawn, NJ, US

Take a long-term look at the US trade deficit from 1950 onwards and you can see that US trade was in trivial deficit for many years.

Deficits began worsening in the 1980s, and have really plunged since the mid-1990s, when Nafta, other trade deals and the massive expansion of Chinese imports into the US took hold in earnest. Since then, deficits have ranged broadly around $500bn a year. The change is quite dramatic.

Two questions come to mind. First, does the world really think such a massive imbalance can continue forever? And second, what do China, Europe and other major creditors think they are going to do with the astronomical numbers of dollars they are piling up, aside from helping the US Treasury finance its budget deficit?

I understand this arrangement helps some nations’ internal political problems, from dealing with recalcitrant French farmers to finding employment for 1bn Chinese, but all things come to an end eventually, and this imbalance must too. After all, a half trillion here, and a half trillion there — after a while it begins to add up to real money.

Perhaps, just perhaps, it might be wiser to work with the US to find graceful ways to restore the trade balance with a minimum of pain, and perhaps even to mutual benefit, rather than act as though redressing an imbalance were an act of war heralding the imminent end of civilisation. One step, which would not hurt exports to the US, might be to buy more US goods and services, rather than block or discourage trade in them.

Really, I buy them all the time, and they aren’t all that bad!
Harold Seneker
Fair Lawn, NJ, US

1 comment:

  1. Trump said he thinks "we'll probably need another summit"-- or at least a second meeting. Trump said he is willing to meet with Kim "many times" in the process.

    In the run-up to the talks, Trump had hopefully predicted the two men might strike a nuclear deal or forge a formal end to the Korean War in the course of a single meeting or over several days. But in a briefing with reporters Monday, Pompeo sought to keep expectations for the summit in check.

    "We are hopeful this summit will help set the conditions for future productive talks," the secretary of state said.

    ReplyDelete