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  1. Trade Defecits and Tariffs

    [QUOTE=PierzStyx;6601366]There is no such thing as a trade deficit.

    I go down to the local 7-11. I buy some snacks. I pay them. They give me food. Is there a trade deficit? Maybe on the surface, after all I didn't trade them any of my possessions for any of their possessions. They didn't get my TV or car or anything. But I did trade them the property I was willing to part with and which they wanted -money- in exchange for goods I wanted. That isn't a deficit. That is a win.
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