Pete Murphy

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    • Sun Jul 27th 10:14 AM
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      A Fed Rate Hike Won't Solve the Current Crisis
      Your identification of the trade deficit as the root cause of our ills is right on. But you are wrong to believe that the falling dollar will have any significant impact. Yes, "exports" are up, due to the soaring price of grain but also due to the soaring price of oil, driving up the value of U.S. oil exports. (Yes, the U.S. does export some oil.) Our trade deficit in manufactured goods is as bad as ever. The demise of U.S. manufacturing has actually accelerated as the dollar has declined.

      Rather, the trade deficit is due to granting free access to our healthy market to grossly overpopulated nations who are unable to offer access to equivalent markets in return. Their markets are emaciated by over-crowding and low per capita consumption.

      A falling dollar won't help. Foreign exporters won't stand idly by and watch their share of the U.S. market evaporate just because their profits are down. They'll aggressively cut costs (and "dump" if they have to) to sustain and even grow their market share.

      Pete Murphy
      Author, "Five Short Blasts"
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    • Sun Jul 13th 08:40 AM
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      Trade: Realities and Fallout
      Andy, the falling dollar has had no impact on reducing the trade deficit (contrary to predictions by economists) because currency valuations have nothing to do with the deficit. The trade deficit is rooted in granting free access to the U.S. market to grossly overpopulated nations who have no equivalent market to offer in return. Without a return to tariffs in such situations, the trade deficit is automatic and irreversible, tantamount to economic suicide.

      In interested in learning more about an important new economic theory, please visit either of my web sites at OpenWindowPublishingCo... or petemurphy.wordpress.c....

      Pete Murphy
      Author, Five Short Blasts
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    • Thu Jul 10th 09:19 AM
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      What If What Economists Taught Us Is Wrong?
      This question - "What if economists are wrong?" - is the very crux of my book, "Five Short Blasts." Indeed they are wrong because economists are unwilling to consider one key parameter of economics. For more info, please visit either of my web sites - OpenWindowPublishingCo... or petemurphy.wordpress.c....
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