Best Of The Web
President Trump sees every U.S. trade deficit as a clear sign that the U.S. is being treated “unfairly” and “ripped off.”
The latest figures released last week showed a significant increase in our trade deficit in goods and services with the world and record deficits with China and the European Union. The U.S. is currently on track for its largest annual trade deficit since 2008.
Yet, despite President Trump’s belief that trade deficits go hand-in-hand with a weak economy, just the opposite is occurring. The U.S. is experiencing increases in manufacturing, overall GDP growth, and, at last, wage growth.
Why is the U.S. trade deficit at record levels, despite the Trump administration’s aggressive actions against what he considers unfair trade deals and practices?
Simply put, trade deficits are driven far more by broad economic conditions — such as how U.S. economic growth compares with other countries’, U.S. and other countries’ savings and investment rates and the value of currencies — than by tariffs and trade barriers.
A country’s trade balance for a given period is essentially the difference between the value of the goods and services produced at home that it sells abroad and the goods and services it buys from abroad. The trade balance does not reflect — especially for a country like the U.S. — that imports are often used as inputs for goods produced for export.
JJ Best Of The Web
China's massive and rapid investments in Africa have been criticized by some as a form of economic colonialism. Others are just wondering why the West is missing out on the opportunity.
"For two years, Americans have tried to absorb the details of the 2016 attack — hacked emails, social media fraud, suspected spies — and President Trump’s claims that it’s all a hoax. The Times explores what we know and what it means."
Twenty-five years after Oslo, Israeli-Palestinian peace remains elusive. A mix of Leftist idealism and PLO rejectionism are to blame for taking the "process" out of the Peace Process.
"In recounting the life of alleged Mossad agent Ashraf Marwan, Ariel Vromen's disappointing film leaves the most interesting parts of the story off screen."
The tax cuts signed into law by President Donald Trump will add to the national debt. But they did succeed in one area: making rich people even richer.
"As Seen On TV" gadgets like the "sock slider" or a banana peeler are often mocked for being useless wastes of plastic. But for some individuals with disabilities, these gadgets make all the difference.
If SJWs often resemble religious fundamentalists, bell hooks is their highest prophet. Her work on gender and intersectionality have redefined American campuses, and her ideas are being put into action with religious fervor.
"It strikes me that we’re now suffering collectively from a “tyranny of the virtual,” since we find ourselves unable to look away from the screens that mediate not just print but, increasingly, reality itself."
Parents see it all the time. Young girls, confident and full of joy, become timid and shy around their tween and early teen years. A new book explores the sociological explanations for the loss in confidence.
How did a Chinese citrus fruit become the central symbol of one of Judaism's most important holidays? According to a new book by Rabbi David Moster, the Etrog wasn't always so important. For ancient Jews, any old fruit would do.
If IQ tests are any indication, Americans are getting stupider. Some think environmental factors could be to blame. Others say that it's our culture which is to blame for making us stupider.
According to a new book from Jack Wertheimer, American Judaism is embracing universalism in an effort to stay relevant. But this focus on universalism may threaten to undermine the vitality of the Jewish faith.