The accountingly and mathematically challenged at CFRB take issue with an identity of National Income Accounting which competent people use every day. How do these people get these jobs?
For accurate analysis see Ramanan here and/or Peter here... checkmate.
Did the Trade Deficit Cause $20 Trillion in Debt? | Committee for a Responsible Federal Budget https://t.co/nrv4LyksXA— The Moment of Truth (@BowlesSimpson) July 6, 2017
2 comments:
I tried the following argument. When the winners in the US hoover up the surplus of our economy in the form of currency, we have the option to tax them or sell them bonds to recycle it out of them. But in the case of our trading partners hoovering up a surplus of our currency, we don't have the option to tax them - our only option is to sell them bonds to recycle that surplus.
Even then I was accused of gobbledygook. This was in the comments section on the WaPo, where they're so single minded in their hatred of Trump that they'll put their fingers in their ears even when he has the economics on his side.
Richard they are unqualified and not competent .... look at the CVs of any of these people no relevant training ever...
I don't understand how they can get into these positions...
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