Bad Math Can’t Close the U.S. Trade Deficit
Why the Trump Administration’s Strategy Is Self-Defeating
Every American knows that if you want to spend more than you earn, you either must liquidate some of your assets or you must borrow. This is as true of governments and corporations as people. And if you have been doing a lot of borrowing, stopping will result in much less consumption. Teenagers without finance PhDs learn this when their parents take away the credit card.
Which is why it boggles the mind that experts in Washington D.C., including the President’s senior economic advisor Peter Navarro, fail to understand …
