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NOQ Report Is Moving to AmericaFirstReport.com

Art Laffer on why a trade deficit is a good thing

by CQ Livingston
January 15, 2019
in Quotes

NOQ Report Is Moving to AmericaFirstReport.com

Conservative economist Art Laffer has been preaching the benefits of free trade and understanding what the numbers behind the economy really mean for most of his life. He’s taken many progressives to school on how to truly boost the economy and has always been a harsh opponent to the leftist’s favorite trade tool, the tariff.
Unfortunately, he’s having a harder time reaching so-called conservative who have abandoned basic economics in favor of Trumponomics. The concept of free trade has been replaced in the eyes of many conservatives and most Republicans with Trump’s idea of fair trade. The result: a trade war with China that is going nowhere fast and costing American businesses and consumers billions of dollars.
As Laffer correctly points out in this quote, running up a trade deficit is an unavoidable side effect of having a capital surplus. In other words, as American consumers spend more money, American businesses make more money. As American businesses make more money, they buy more products from foreign companies. This fact seems to have slipped over President Trump’s head.

“The trade deficit is the capital surplus and don’t ever think of having a capital surplus as being a bad thing for our country.”

Tariffs on China were considered a far-left progressive notion less than four years ago when Senators Chuck Schumer and Bernie Sanders proposed them. Now that President Trump has adopted their plans down to the letter, tariffs are suddenly the GOP way.
For a better explanation, please refer to this article by Benjamin Powell from 2006. Over a dozen years later, the truths still apply.

Trade Deficit Is Really A Capital Surplus

http://www.independent.org/news/article.asp?id=1832As long as our country remains a good place to invest and we have a low saving rate, foreigners are going to invest in the U.S. more on net than we invest overseas. That will generate a capital account surplus and the resulting trade deficit. This is a good thing.

But whether the payment is to a foreigner or to a fellow citizen, the customer’s purchase still indicates that he deems himself better off from the transaction.



They’re Trying to Shut Us Down

Over the last several months, I’ve lost count of how many times the powers-that-be have tried to shut us down. They’ve sent hackers at us, forcing us to take extreme measures on web security. They sent attorneys after us, but thankfully we’re not easily intimidated by baseless accusations or threats. They’ve even gone so far as to make physical threats. Those can actually be a bit worrisome but Remington has me covered.

For us to continue to deliver the truth that Americans need to read and hear, we ask you, our amazing audience, for financial assistance. We just launched a GiveSendGo page to help us pay the bills. It’s brand new so don’t be discouraged by the lack of donations there. It’s a funny reality that the fewer the donations that have been made, the less likely people are willing to donate to it. One would think this is counterintuitive, but sometimes people are skeptical because they think that perhaps there’s a reason others haven’t been donating. In our situation, we’re just getting started so please don’t be shy if you have the means to help.

Thank you and God bless!

JD Rucker

Tags: Art LafferCapital Surplus EconomyEconomicsEconomyFair TradeFree TradeMoneyQuoteTariffsTradeTrade Deficit
  • Timothy Bair says:
    January 17, 2019 at 1:52 pm

    Clarity of what our founders created and what they did not. Without that clarity a nation becomes equivalent of an interstate with no rules of the road. Fortunately our founders learned well from Greece & Rome & others of the tyranny of democracy…assuring republic over it. It is only of late our pols have made it policy of govt to spread democracy throughout the world, the chaos of which we see unfolding
    https://www.youtube.com/watch?v=KFXuGIpsdE0

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