Formerly About Applied Materials Message Board

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Politics : Formerly About Applied Materials

AMAT 322.34

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Jan 23 9:30 AM EST

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To: Joseph Beltran who wrote (46362)	5/7/2001 1:47:56 PM
From: Fred Levine	Read Replies (1) of 70976

Joseph--re: <<these free trade agreements struck by the clinton (and other) administrations are soooo good for the u.s.a. why are we running (and have been running) a chronic trade account deficit? >> Once we recognize that money has no intrinsic value, and is essentially a unit of measurement, we should not fear a trade deficit. In fact, I think it is entirely to the consumers' benefit to have a deficit. We send the Chinese Japanese or whoever money and they send us TV's, cars, electronics and clothes. You can't eat, wear or drive money. They have to spend it and buy something from us and everyone gets richer. I am amused that people get upset about dumping, or selling below cost. All that means to me is that the, e.g., Japanese, taxpayer is subsidizing the American consumer. That hardly creates terror in my heart. fred

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