tag:blogger.com,1999:blog-2761684730989137546.post3373860251182848389..comments2024-03-28T07:50:06.102-04:00Comments on Mike Norman Economics: Mish — Chinese exports only 2.7% of US consumptionmike normanhttp://www.blogger.com/profile/03296006882513340747noreply@blogger.comBlogger3125tag:blogger.com,1999:blog-2761684730989137546.post-30960648108844428952011-08-15T23:31:14.267-04:002011-08-15T23:31:14.267-04:00George Will is a liar. He says that we owe China ...George Will is a liar. He says that we owe China $2 trillion but does Not mention or understand that the Chinese have already been paid.<br /><br />It's done deal, the money is in their treasury accounts.<br /><br />How can such a "conservative" journalist be taken for real ?<br /><br />For every dollar spent on Chinese imports by American consumers, most of it goes into the Chinese account at the US Treasury.<br /><br />Walmart is a turn-stile for turning Chinese cheapies into Treasuries in their account at the Tsy.googleheimhttps://www.blogger.com/profile/14459089745473598235noreply@blogger.comtag:blogger.com,1999:blog-2761684730989137546.post-50807323574593283022011-08-15T13:57:25.695-04:002011-08-15T13:57:25.695-04:00FYI (off-topic)
Another post on MMT by Krugman - ...FYI (off-topic)<br /><br />Another post on MMT by Krugman - this ones a doozy.<br /><br />http://krugman.blogs.nytimes.com/2011/08/15/mmt-again/#previewPaulJhttps://me.yahoo.com/a/ZktwEZ95uZ7ujy6unZNp_0PoIfo-noreply@blogger.comtag:blogger.com,1999:blog-2761684730989137546.post-57927892060261831362011-08-15T13:29:58.494-04:002011-08-15T13:29:58.494-04:00The government and corporate accounting of import ...The government and corporate accounting of import and export values is intentionally deceptive. The price of a Nike sneaker at the port in China is $10.00 once it arrives in Seattle, the value is $75.00. The marketing and distribution departments "added" the extra value, I guess. My goodness were those employees in America productive! The import export value numbers are meaningless. It is about as meaningful as how Google ends up with all their revenue in tax havens even though most of the work is done in other countries. Did the isle of man and bermuda really export all those google services?Ryan Harrishttps://www.blogger.com/profile/04815033054435303399noreply@blogger.com