Just another 390 million we gotta pay

[airdata]

http://www.youtube.com/watch?v=PTUY16CkS-k

Quantitative easing explained

 

[drebo]

An economy grows from wealth production, not when money flows into it.

Wealth cannot be created in a closed system. Isolationism and protectionism do nothing to increase the wealth of a nation. If anything, they destroy that wealth.

How is it that you think wealth is generated, if not by increasing the flow of money into an economy?

In a closed economy, you have fixed wealth. The only thing that ever changes is who has what portion of that wealth. Our need for imports, however, will not be lessened. We will continue to import quite a bit. The trade deficit is harmful to our economy and harmful to our wealth as a nation.

The trade deficit is the real problem here, and protectionism and isolationism do nothing to resolve it.

I mean, really...just ask China how well their closed economy worked.

 

[BoberFett]

Wealth cannot be created in a closed system. Isolationism and protectionism do nothing to increase the wealth of a nation. If anything, they destroy that wealth.

How is it that you think wealth is generated, if not by increasing the flow of money into an economy?

In a closed economy, you have fixed wealth. The only thing that ever changes is who has what portion of that wealth. Our need for imports, however, will not be lessened. We will continue to import quite a bit. The trade deficit is harmful to our economy and harmful to our wealth as a nation.

The trade deficit is the real problem here, and protectionism and isolationism do nothing to resolve it.

I mean, really...just ask China how well their closed economy worked.

You fail completely at understanding wealth.

 

[GeezerMan]

Free trade is great if all parties have the same standard of living. How does USA industry compete with Chinese slave labor?

This is a must see 52 second video inside a Chinese factory with workers risking their lives every day.

http://www.youtube.com/watch?v=W_YnaHNcISw

 

[drebo]

You fail completely at understanding wealth.

Please explain, then.

How, exactly, is wealth created in a closed economy?

 

[Elias824]

Please explain, then.

How, exactly, is wealth created in a closed economy?

If you take the entire world together that would act as a close economy, we cant trade with other planets, yet somehow we manage to create wealth.