... to educate the masses, here:
You assert that “The bulging American trade deficit means that rising consumer demand is flowing to suppliers overseas rather than fueling growth at home”
... Why do foreigners accept green pieces of paper in return for the goods and services these foreigners produce for Americans? It’s not because foreigners have an insatiable demand for tiny monochrome prints of dead American statesmen. Rather, foreigners accept dollars because they want to spend those dollars, either on American exports or on American assets. Another term for spending dollars on American assets is “investing in America.”
The U.S. trade deficit rises whenever the amount of dollars foreigners invest in America rises relative to the amount of dollars foreigners spend on American exports. ...
and here:
Observing that suburban lawns consume land as well as other resources, Laura Vanderkam concludes that lawns are wasteful and environmentally destructive...
Newspapers – such as the one that Ms. Vanderkam writes for – consume trees, petroleum (in the form of ink), electricity, and numerous other resources. Were I as confident in my knowledge and speculations as Ms. Vanderkam is in hers, I might divine that newspapers are an unfortunate “fashion” that we would be wise to avoid. ...
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