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Old 11-04-2019, 09:39 PM
 
7,657 posts, read 3,367,239 times
Reputation: 4889

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Quote:
Originally Posted by lieqiang View Post
Many foreign goods are the best value for my money.
How much value will you get when you have to pay a VAT tax / tarrif on top of it because thats what people vote in?
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Old 11-05-2019, 03:28 AM
 
75,655 posts, read 75,072,635 times
Reputation: 52956
Quote:
Originally Posted by pittsflyer View Post
How much value will you get when you have to pay a VAT tax / tarrif on top of it because thats what people vote in?
that will have to be determined if and when it happens. in the mean time we are getting world class products and value from buying products from those countries that are able to provide them at the best value .
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Old 11-05-2019, 07:29 AM
 
Location: Guadalajara, MX
6,692 posts, read 3,241,688 times
Reputation: 12851
Quote:
Originally Posted by pittsflyer View Post
How much value will you get when you have to pay a VAT tax / tarrif on top of it because thats what people vote in?
I'm not sure.

When making consumer purchase decisions I've yet to take into account uneducated economic speculation from someone on the internet with a long history of playing loose with the facts.
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Old 11-05-2019, 08:13 AM
 
1,466 posts, read 764,632 times
Reputation: 392
Quote:
Originally Posted by Mircea View Post
No, wrong, it did not, and you cannot prove it did.
Repeat after me until you understand: $1 of Imports $1 of GDP.
When you come to understand that, then your mind will be expanded.
Mircea & James Bond 007, the term “trade deficit” means imports exceeded exports. If you use it to mean something else, you’re modifying the language.
The conventionally accepted method of determining a nation’s gross domestic product, (i.e. the expenditure method of calculating GDP) is described within many credible reference sources. If other than the conventional was employed, credible sources mention of GDP amounts are expected to mention that calculating method.

You may choose not to accept the conventional meaning of the terms “trade deficit” and “gross domestic product”, but that’s not how the world's statistical and economic communities are able to communicate among and between each other.
Respectfully, Supposn
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Old 11-05-2019, 08:29 AM
 
1,466 posts, read 764,632 times
Reputation: 392
Quote:
Originally Posted by lieqiang View Post
Many foreign goods are the best value for my money.
Lieqiang, I don’t disagree with that. Refer to post#14. Respectfully, Supposn
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Old 11-05-2019, 08:34 AM
 
1,329 posts, read 557,712 times
Reputation: 3810
Quote:
Originally Posted by mathjak107 View Post
i agree , there is no basis for this constant re posting of the same opinion which i disagree with .. a trade deficit means the world has more to offer us . end of story
And they let us buy it on credit (backed by submarines armed with hundreds of Trident missiles) — by golly it’s a win-win-win.
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Old 11-05-2019, 10:46 AM
 
Location: 5,400 feet
2,811 posts, read 2,744,177 times
Reputation: 4068
Quote:
Originally Posted by Supposn View Post
Mircea & James Bond 007, the term “trade deficit” means imports exceeded exports. If you use it to mean something else, you’re modifying the language.
The conventionally accepted method of determining a nation’s gross domestic product, (i.e. the expenditure method of calculating GDP) is described within many credible reference sources. If other than the conventional was employed, credible sources mention of GDP amounts are expected to mention that calculating method.

You may choose not to accept the conventional meaning of the terms “trade deficit” and “gross domestic product”, but that’s not how the world's statistical and economic communities are able to communicate among and between each other.
Respectfully, Supposn
How odd. That definition of a trade deficits is contrary to he title of this thread. When I suggested that was the definition of a trade deficit in one of your earlier repetitive posts on this subject, you told me it wasn't.
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Old 11-05-2019, 12:25 PM
 
Location: Ohio
20,899 posts, read 14,808,128 times
Reputation: 17187
Quote:
Originally Posted by Supposn View Post
Mircea & James Bond 007, the term “trade deficit” means imports exceeded exports. If you use it to mean something else, you’re modifying the language.
Wrong. You don't even known what you're talking about.

Imports and exports are measured in Dollar-value, not quantity.

It's entirely possible the US exported 500 Million items and imported 400 Million items, in which case the US exported more than it imported.

Right?

Your ignorance and lack of education in all things-Economic doesn't allow you to see that.

Your inability to grasp even the most rudimentary concepts is truly astounding.

We import, because we have no choice.

The US is blessed with a fairly abundant amount of intermediate and heavy grade oils, but very few light oils of value.

Of course, I'm assuming you don't want to die, or you don't want a loved one to die, because it is from those light oils that you don't have that you get the esters and other chemical compounds used in every pharmaceutical drug put on the market since 1994.

You can produce some of the esters and other chemicals from certain intermediate grade oils, but only at the expense of gasoline. You can produce a gallon of esters or a gallon of gasoline, but not both. Reducing your gasoline supply will cause prices to rise.

That's what your stupid import certificate nonsense does: makes people pay more things by creating artificial shortages.

You can only grow coffee and tea in Hawaii or southern California, but you can only grow them at the expense of other produce. To grow coffee or tea in Hawaii, you'd have to plow under pineapple plantations and other plantations and orchards of exotic fruits and vegetables. You can only grow coffee and tea in California if you plow under all the vineyards that produce a variety of wines for Americans.

Your stupid import certificate nonsense would diminish the Life-Style and decrease the Standard of Living of Americans who enjoy the variety of California wines and the exotic fruits and vegetables grown in Hawaii, not to mention the profits generated from them.

In case you hadn't noticed, there's thousands of coffee shops in the US that employ more than a Million workers. You would have those people be unemployed just so you can feel good about your stupid import certificate nonsense.

Your understanding of Capital and Labor doesn't even reach novice level.

As shocking as it may be, not every worker has the manufacturing skill-set. Many workers with the manufacturing skill-set, like me, choose not to work in manufacturing. And as bizarre as it may sound, all the workers with the manufacturing skill-set who want to work in manufacturing aren't all congregated in a single city.

You don't even understand basic Laws of Physics. No worker can be in two different places at the same time. If you try to do both, all you do is reduce the supply of plastic kitchen gadgets and high tech electronic equipment which both deprives Americans of those items and drives up the price.

Your stupid import certificate nonsense would have manufacturing workers making plastic kitchen utensils instead of high tech electronic equipment.

No one is willing to be deprived of high tech electronics that enhance Life-Style and increase Standard of Living just so you can feel good about yourself.

Lastly, you just can't wrap your brain around the fact that your QTR 3 GDP was $21.5 TRILLION precisely because you did import goods and services.

If you didn't import goods and services, your GDP would only be $16 TRILLION.

You claim the US would make up that difference domestically, but you're wrong, because you don't have the labor and you don't have the resources, which need to be imported.
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Old 11-05-2019, 12:48 PM
 
75,655 posts, read 75,072,635 times
Reputation: 52956
Quote:
Originally Posted by Mircea View Post
Wrong. You don't even known what you're talking about.

Imports and exports are measured in Dollar-value, not quantity.

It's entirely possible the US exported 500 Million items and imported 400 Million items, in which case the US exported more than it imported.

Right?

Your ignorance and lack of education in all things-Economic doesn't allow you to see that.

Your inability to grasp even the most rudimentary concepts is truly astounding.

We import, because we have no choice.

The US is blessed with a fairly abundant amount of intermediate and heavy grade oils, but very few light oils of value.

Of course, I'm assuming you don't want to die, or you don't want a loved one to die, because it is from those light oils that you don't have that you get the esters and other chemical compounds used in every pharmaceutical drug put on the market since 1994.

You can produce some of the esters and other chemicals from certain intermediate grade oils, but only at the expense of gasoline. You can produce a gallon of esters or a gallon of gasoline, but not both. Reducing your gasoline supply will cause prices to rise.

That's what your stupid import certificate nonsense does: makes people pay more things by creating artificial shortages.

You can only grow coffee and tea in Hawaii or southern California, but you can only grow them at the expense of other produce. To grow coffee or tea in Hawaii, you'd have to plow under pineapple plantations and other plantations and orchards of exotic fruits and vegetables. You can only grow coffee and tea in California if you plow under all the vineyards that produce a variety of wines for Americans.

Your stupid import certificate nonsense would diminish the Life-Style and decrease the Standard of Living of Americans who enjoy the variety of California wines and the exotic fruits and vegetables grown in Hawaii, not to mention the profits generated from them.

In case you hadn't noticed, there's thousands of coffee shops in the US that employ more than a Million workers. You would have those people be unemployed just so you can feel good about your stupid import certificate nonsense.

Your understanding of Capital and Labor doesn't even reach novice level.

As shocking as it may be, not every worker has the manufacturing skill-set. Many workers with the manufacturing skill-set, like me, choose not to work in manufacturing. And as bizarre as it may sound, all the workers with the manufacturing skill-set who want to work in manufacturing aren't all congregated in a single city.

You don't even understand basic Laws of Physics. No worker can be in two different places at the same time. If you try to do both, all you do is reduce the supply of plastic kitchen gadgets and high tech electronic equipment which both deprives Americans of those items and drives up the price.

Your stupid import certificate nonsense would have manufacturing workers making plastic kitchen utensils instead of high tech electronic equipment.

No one is willing to be deprived of high tech electronics that enhance Life-Style and increase Standard of Living just so you can feel good about yourself.

Lastly, you just can't wrap your brain around the fact that your QTR 3 GDP was $21.5 TRILLION precisely because you did import goods and services.

If you didn't import goods and services, your GDP would only be $16 TRILLION.

You claim the US would make up that difference domestically, but you're wrong, because you don't have the labor and you don't have the resources, which need to be imported.


gotta score one for mercea !!!!!! he is correct in his logic
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Old 11-05-2019, 01:30 PM
 
5,986 posts, read 3,216,694 times
Reputation: 10901
Quote:
Originally Posted by Supposn View Post
A trade deficit indicates the nation consumed more than it produced. Annual trade deficits are always net detrimental to their nation's GDP and thus to their numbers of jobs.

I'm among the proponents of the improved trade policy concept as described in Wikipedia's “Import Certificates” article. It is superior to free trade, tariffs, or any other trade policy we're aware of.

Exporters of USA goods may REQUEST, (they are not required) to have the value of their export shipments assessed and they agree to pay the federal fee rate based upon that assessed value. When their goods leave the USA, They're issued TRANSFERABLE Import Certificates with a face value equal to the assessed value of their export shipment.

Importers are REQUIRED to surrender certificates of sufficient face value to cover the assessed value of their import shipment. The surrendered certificates are then canceled.

Federal assessment guidelines and fees are updated annually. The fees by law are set to only to defray all federal direct expenditures due to this policy.

Regardless of the additional cost to USA purchasers of imports, (i.e. regardless of how small of a price increase), this policy will significantly reduce, (if not entirely eliminate) USA's chronic annual trade deficits of goods.

Increased prices of imports that are beyond the costs attributable to the federal fees, (i.e. costs attributable to markets' behaviors), serve as indirect but effective price subsidy of USA's exported goods.

Goods assessment values are reduced due to eliminating the approximate values of specifically listed scarce or precious mineral materials integral to the goods.

Refer to Wikipedia's article entitled “Import Certificates”.
So would you argue that we don't produce "enough" or that we are consuming "too much" ?
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