U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > General Forums > Economics
 [Register]
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
 
Old 09-15-2014, 07:16 AM
 
12,404 posts, read 9,203,248 times
Reputation: 8863

Advertisements

Do we have any now, and if so which ones?

When the entire world becomes developed, someone's got to do the producing!
Reply With Quote Quick reply to this message

 
Old 09-15-2014, 08:49 AM
 
Location: Vallejo
13,439 posts, read 15,046,113 times
Reputation: 11924
List of sovereign states by current account balance - Wikipedia, the free encyclopedia

Some of them aren't really producing, or not really producing anything except oil anyway. Germany is the one most people jump to right away.
Reply With Quote Quick reply to this message
 
Old 09-15-2014, 09:53 AM
 
Location: WA
5,293 posts, read 20,705,220 times
Reputation: 5622
Quote:
Originally Posted by Malloric View Post
...
Germany is the one most people jump to right away.
Clearly a standout when looking at the charts of those without oil wealth. I wonder what are the driving factors to make it happen... clearly they have a culture of productive investments and diligent work, have had little spending on national defense in the past 60 years, don't seem to have a huge attraction to low income migrants.

Just guessing here... anyone have a study that accounts for the fiscal responsibility.
Reply With Quote Quick reply to this message
 
Old 09-15-2014, 06:33 PM
 
Location: Ohio
18,014 posts, read 13,243,316 times
Reputation: 13822
Quote:
Originally Posted by ncole1 View Post
Do we have any now, and if so which ones?

When the entire world becomes developed, someone's got to do the producing!
That makes no sense at all.

Trade deficits as currently measured tell you nothing useful.

How many units have you imported or exported?

This is the same issue with Productivity. The only correct measure of Productivity is unit/volume.

Compare:

200,000 labor-hours; 1 Million widgets produced; unit price is $10; gross revenues $10 Million
190,000 labor-hours; 950,000 widgets produced; unit price is $12; gross revenues $11.4 Million

Did Productivity increase? No, you cannot make that claim.

Even though you fired 5 employees because you can't afford Obamacare, and you only made 950,000 widgets you're still producing 5 widgets per hour, so Productivity did not increase.

Same is true for Trade.

For purposes of analysis, US Dollar value of imports or exports is totally useless. Did you import more units, or fewer units than the year(s) before? Did the unit volume of exports increase or decrease?

Look back to the Bush Recession. Those idiots are saying that exports are increasing (in US Dollar value), so the US economy must be healthy. Well, no, the reality was that, yes, the Dollar value was increasing, but the number of units you were exporting was declining rapidly each quarter. Why? Because your export sector got hammered by the increase in the federal minimum wage, and couldn't react fast enough to get foreign suppliers, and then, too, it could not compete globally due to the US-imposed wage differential.

Without Trade, it is impossible to increase your Standard of Living beyond what the general economy. will bear.

A good example is the electronics to which you are all addicted.

Those require rare-Earth minerals, and you have none. Well, you have one, but it's one of the most useless rare-Earth minerals.

If you want to decrease your Trade Deficit, then you need to voluntarily give up electronics, otherwise, learn to deal with it.

Commercially...

Mircea
Reply With Quote Quick reply to this message
 
Old 09-15-2014, 06:48 PM
 
349 posts, read 413,750 times
Reputation: 467
And cut back on oil consumption.
Reply With Quote Quick reply to this message
 
Old 09-15-2014, 06:55 PM
 
Location: Westwood, MA
3,454 posts, read 4,352,469 times
Reputation: 4461
Quote:
Originally Posted by ncole1 View Post
Do we have any now, and if so which ones?

When the entire world becomes developed, someone's got to do the producing!
The total worldwide trade balance is of course zero. When all the world becomes developed it will continue to be zero. The developed world produces quite a bit of stuff, it just tends to be a lot more complicated and a LOT more expensive.

And the key to having a positive trade balance is to sell more than you buy. We're actually pretty good in the US and making stuff, but we're even better at buying stuff.
Reply With Quote Quick reply to this message
 
Old 09-17-2014, 11:49 AM
 
8,293 posts, read 3,456,454 times
Reputation: 1586
Quote:
Originally Posted by jayrandom View Post
The total worldwide trade balance is of course zero. When all the world becomes developed it will continue to be zero. The developed world produces quite a bit of stuff, it just tends to be a lot more complicated and a LOT more expensive.

And the key to having a positive trade balance is to sell more than you buy. We're actually pretty good in the US and making stuff, but we're even better at buying stuff.
This looks to be a difficult but useful read that I started last night:

The Great Rebalancing: Trade, Conflict, and the Perilous Road Ahead for the World Economy: Michael Pettis: 9780691158686: Amazon.com: Books

Why and how trade imbalances occur and how they are all linked globally now.
And why they can be good or bad.
More reasons why the EU is doomed as Germany has such persistent trade surpluses.
Reply With Quote Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


Reply
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:

Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > General Forums > Economics
Follow City-Data.com founder on our Forum or

All times are GMT -6.

© 2005-2018, Advameg, Inc.

City-Data.com - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35 - Top