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20 sats \ 1 reply \ @SimpleStacker 2 Aug \ on: Trump never made it to the second day of his Economics lesson! econ
Yikes, that tweet is extremely sophomoric. I don't consider a mic drop at all. And the analogy from Sachs doesn't make a lot of sense to me. A trade deficit is not like credit card debt, in almost any way... I fail to see the analogy at all...
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0 sats \ 0 replies \ @Coinsreporter OP 2 Aug
The analogy is that America prints the money we all use. So they can print endlessly and whatever they print they get to use.
We OTOH just get the inflation & we get to feed Americans because their ancestors invented the monetary & trade system.
So their deficit isn't harmful.
But I'm not so sure about this analogy, what I'm sure about is that India is not a 'Dead Economy' at all.
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