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01/22/2011

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BJ

As a result of the trade deficit, we have exported $273 billion to China (plus $400 billion for oil). In a sense, we have borrowed that $273 billion back from them, and now owe interest on it.

Americans complain they can't find American made products, and are so addicted to consumption, they prefer to export their wealth rather than save it (of course, the last thing Washington wants is Americans saving money, as they desperately need a new consumer driven debt bubble). There are American made products out their, but the average Walmart shopping American can't afford them. Actually they can't afford not too, but that is perhaps a concept beyond their grasp. They want to have more than they can truly afford, which necessitates they buy products produced in 3rd world countries.

I'm not endorsing unions, just pointing out there are American made products available.
http://www.unionlabel.com/index.html

http://www.usdebtclock.org/

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