Willisms
Navigation

Buy WILLisms

XML Feed


Featured Entries

The Babe Theory Of Political Movements.
Mar. 21, 2005 11:50 AM

Iran's Sham Election In Houston.
June 20, 2005 5:36 AM

Yes, Kanye, Bush Does Care.
Oct. 31, 2005 12:41 AM

Health Care vs. Wealth Care.
Nov. 23, 2005 3:28 PM

Americans Voting With Their Feet.
Nov. 30, 2005 1:33 PM

Idea Majorities Matter.
May 12, 2006 6:15 PM

Twilight Zone Economics.
Oct. 17, 2006 12:30 AM

The "Shrinking" Middle Class.
Dec. 13, 2006 1:01 PM

From Ashes, GOP Opportunities.
Dec. 18, 2006 6:37 PM

Battle Between Entitlements & Pork.
Dec. 21, 2006 12:31 PM

Let Economic Freedom Reign.
Dec. 22, 2006 10:22 PM

Biggest Health Care Moment In Decades.
July 25, 2007 4:32 PM

Unions Antithetical to Liberty.
May 28, 2008 11:12 PM

Right To Work States Rock.
June 9, 2008 12:25 PM



Donate





Links

Blogroll Me!







Search



Archives

July 2008
June 2008
May 2008
April 2008
March 2008
February 2008
January 2008
December 2007
November 2007
October 2007
September 2007
August 2007
July 2007
June 2007
May 2007
April 2007
March 2007
February 2007
January 2007
December 2006
November 2006
October 2006
September 2006
August 2006
July 2006
June 2006
May 2006
April 2006
March 2006
February 2006
January 2006
December 2005
November 2005
October 2005
September 2005
August 2005
July 2005
June 2005
May 2005
April 2005
March 2005
February 2005
January 2005
December 2004




Social Security Reform Thursday.
March 13, 2008

Caption Contest: Enter Today!
Due: July 29, 2008

The Carnival Of Classiness.
Mar. 14, 2006

Quotational Therapy: Obama.
Apr. 4, 2008

Mainstream Melee: Wolfowitz.
May 19, 2007

Pundit Roundtable: Leaks.
July 9, 2006

A WILLisms.com(ic), by Ken McCracken
July 14, 2006




Credits

Powered by Movable Type 3.17
Site Design by Sekimori




WILLisms.com June 2008 Book of the Month (certified classy):











The WILLisms.com Gift Shop: Support This Site

giftshopbanner.gif











This Week's Carnival of Revolutions: carnivalbutton.gif



Carnival Home Base: homebase.gif

























Willisms

« Quotational Therapy: Part 129 -- British Kids, On What Would Make Life Better. | WILLisms.com | Going To Africa To Climb Mt. Kilimanjaro, Be Back Soon... »

Trivia Tidbit Of The Day: Part 421 -- Trade Is Good.

Free Trade Is Even Better-

Some facts on American trade (.pdf):

In 2006 U.S. exports grew by 12.7 percent over 2005 to $1.4 trillion, while imports increased 10.5 percent to $2.2 trillion. To compare, in 2005 Japan’s GDP was $4.91 trillion and Russia’s GDP was $733 billion.

The United States is actually exporting more than ever before (.pdf):

Exports comprised 11.1 percent of U.S. GDP in 2006, the highest ever in dollar terms. It was 5.2 percent 50 years ago and 9.6 in 2002.

Which is probably surprising for a lot of folks. The common media narrative is that the U.S has nothing left to export, because all the factories and jobs are going overseas. Sure, the trade deficit is large, but that's just because Americans buy most of their cheap consumer goods and clothes from places like China.

And here's one reason among many why we should promote free trade agreements (.pdf):

U.S. Free Trade Agreement (FTA) partners make up 7.3 percent of the world’s GDP (excluding the U.S.), and exports to these countries comprise more than 42 percent of total U.S. exports. As of February 13, 2007 the U.S. has FTAs in force with 13 countries.

A look at those particular numbers (.pdf):

freetradeisgoodforexports.gif

We need more free trade, not less.


-------------------------------------

Previous Trivia Tidbit: Emissions & Economy.

Posted by Will Franklin · 16 February 2007 02:21 PM

Comments

Walter Williams subbed for Rush today. I caught about 5 minutes of it. Basic point: we had a great trade surplus - in the 1930's.

Posted by: Assistant Village Idiot at February 16, 2007 04:37 PM

My economics courses taught that the trade deficit is a direct reflection of the budget deficit.

http://www.econlib.org/library/Enc/BalanceofPayments.html

I haven't read it yet, and don't understand the relation myself, but it is apparently economic fact.

Posted by: John at February 17, 2007 09:37 AM