Friday, January 11, 2008

This is funny...

``Outside of oil, the trade deficit is moving in the right direction,'' said Russell Price, senior economist at H&R Block Financial Advisors in Detroit.

That is right out of the macbre joke: "Other than that, Mrs. Lincoln, how was the play?"

Earth to Mr. Price:

There IS nothing "outside of oil" as applied to the U.S. Trade Deficit.

Clearly, Mr. Price is an economist that skimped on his history studies. The U.S. was at one time the largest CREDITOR nation the world had ever seen. That began to change when the U.S. went from OIL EXPORTER to OIL IMPORTER. By the time the U.S. Oil production began to decline in earnest in the early 1970's, the U.S. was on its way to becoming, what we are in fact today, the largest DEBTOR nation the world had ever seen. And the only HOPE for our trade deficit is this:

When the oil exporting nations no longer have oil to export the U.S. won't go into debt to buy oil anymore. That's the cure. When there is no oil left to buy.

Talk about a cure that is worse than the disease!

Yours for a better post B.S. world,

Mentatt (at) yahoo (d0t) com

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