U.S. Goods Trade Deficit Declines to Smallest in Three Years

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dukkha

Verified User
The U.S. merchandise-trade deficit unexpectedly narrowed for a third month in November to the smallest shortfall in three years as exports increased and imports declined, the latest sign that economic growth is holding up at the end of the year. :thumbsup:

The gap decreased to $63.2 billion from $66.8 billion the prior month, according to Commerce Department data released Monday that compared with forecasts for a widening to $68.7 billion. Exports rose 0.7% while imports dropped 1.3%

Key Insights

The further narrowing of the trade deficit will help give a boost to growth in the fourth quarter.
Imports were a slight drag on gross domestic product growth in the two prior periods, while exports of goods provided a slight tailwind in the third quarter after weighing in the prior three-month period.

The report comes after the U.S. and China agreed this month to the first phase of a trade agreement in which Washington will ease tariffs, and at least temporarily calm fears of an escalating trade war between the world’s two largest economies.
Chinese Vice Premier Liu He is set to lead a delegation to Washington Saturday to sign the deal, the South China Morning Post reported Monday.
Exports got a boost from a 3.4% increase for automotive products and 2.6% gain for consumer goods, while imports decreased across industrial supplies, consumer products and capital goods.
https://www.yahoo.com/finance/news/u-goods-trade-deficit-declines-135204466.html
 
LV426 said:
That's not 3% growth. You promised 3%.
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Anything between 2-3% is IDEAL, ACCORDING TO ALL ECONOMISTS.


CHOKE ON IT....this will be the THIRD YEAR IN A ROW OF 2-3% OR MORE STEADY , ANNUAL GROWTH....SOMETHING THE OBAMIDIOT NEVER ACCOMPLISHED.:laugh:
 
dukkha said:
but ALL of the fundamentals are looking good
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"The fundamentals of the economy are strong" - John McCain, 2008.

The fundamentals are not looking good. In fact, personal loans are at their highest point ever, and those loans aren't secured. It's Bushnomics all over again. People using credit to paper over low wages. That's not the sign of a strong economy.

Personal Loans are growing like a weed in the United States
Total outstanding personal loan debt stood at $115 billion in October, according to Equifax, much smaller than the auto loan market ($1.3 trillion) or credit cards ($880 billion). Economists who watch this debt closely say personal loans are still too small to rock the entire financial system in the way $10 trillion worth of home loans did during the 2008-09 financial crisis.

But personal loan debt is back at levels not far from the January 2008 peak, and most of the FinTech companies issuing this debt weren’t around during the last crisis, meaning they haven’t been tested in a downturn.
 
dukkha said:
lol..that's all you got?

China Trade deal signed this weekend coming up,roaring economy, NAFTA 2, wage growth above 3% and skewed to lower income, record low employment etc
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We are experiencing SUSTAINABLE GROWTH.....GREAT NEWS for AMERICANS....BAD NEWS for ANTI-AMERICAN BITCH-O-CRATS....
 
LV426 said:
"The fundamentals of the economy are strong" - John McCain, 2008.

The fundamentals are not looking good. In fact, personal loans are at their highest point ever, and those loans aren't secured. It's Bushnomics all over again. People using credit to paper over low wages. That's not the sign of a strong economy.

Personal Loans are growing like a weed in the United States
Total outstanding personal loan debt stood at $115 billion in October, according to Equifax, much smaller than the auto loan market ($1.3 trillion) or credit cards ($880 billion). Economists who watch this debt closely say personal loans are still too small to rock the entire financial system in the way $10 trillion worth of home loans did during the 2008-09 financial crisis.

But personal loan debt is back at levels not far from the January 2008 peak, and most of the FinTech companies issuing this debt weren’t around during the last crisis, meaning they haven’t been tested in a downturn.
Click to expand...
because online loans are so easy to get. People are consumers. They want more so they borrow more,
They would not be doing so but for the fact consumer confidence is sky high -so they take on debt to get more now,figuring their job prospects are secure to pay it back
 
dukkha said:
lol..that's all you got?
Click to expand...

Your promise of your shitty Russia Tax Cut was that it would lead to at least 3% growth.

Instead what has happened is the deficit has exploded, economic growth remains what it was during Obama, and since the Russia Tax Cut the DJIA has grown at its lowest rate since the Bush Conservative Economic Collapse.


China Trade deal signed this weekend coming up
Click to expand...

We'll see. "Signed this weekend coming up" means it's not signed.


NAFTA 2
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Which doesn't fix the structural problems with NAFTA


wage growth above 3% and skewed to lower income
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Thanks to minimum wage increases in 21 states in 2019.

The minimum wage will increase in 25 states in 2020.


record low employment
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Thanks, Obama.
 
dukkha said:
because online loans are so easy to get. People are consumers. They want more so they borrow more,
Click to expand...

They are replacing higher wages with credit.

I'm old enough to remember when you used to oppose debt creation.


They would not be doing so but for the fact consumer confidence is sky high
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Consumers are going into debt, they're not paying down debt. They are going into debt because wages aren't rising. So just like last decade, people are using credit to replace real wages for spending. How long do you think that consumer debt bubble can sustain on its current course?


so they take on debt to get more now,figuring their job prospects are secure to pay it back
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Hmmm...so...in order for the economy to grow, consumers must take on more debt. And BTW - personal loans are unsecured.
 
Grokmaster said:
Anything between 2-3% is IDEAL, ACCORDING TO ALL ECONOMISTS.
Click to expand...


But you promised more than that. You all did. You all said that growth would get to 6%.


CHOKE ON IT....this will be the THIRD YEAR IN A ROW OF 2-3% OR MORE STEADY , ANNUAL GROWTH....SOMETHING THE OBAMIDIOT NEVER ACCOMPLISHED.
Click to expand...

Way to move those goalposts. Before, you were saying 2-3% growth was not good. Now you're saying it is. But you didn't promise 2-3% growth, you promised at least 3% growth and wage growth of at least $4,000. And you promised you'd reduce the deficit. Instead, you exploded the deficit back to $1T and there's nary a teabag to be found.
 
LV426 said:
Your promise of your shitty Russia Tax Cut was that it would lead to at least 3% growth.
Click to expand...
it's a projection, the economy is on a steady growth, after rapid growth in 2018

Instead what has happened is the deficit has exploded, economic growth remains what it was during Obama, and since the Russia Tax Cut the DJIA has grown at its lowest rate since the Bush Conservative Economic Collapse.
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since Trump was elected ( and stocks are forward looking) the DJIA is up from 10k to 28k!
but it'sot just stocks - ALLSECTORS are up,even manufacturing made a come back in November.

Obama lost 200k manufacturing jobs / Trump increased them by 500k

We'll see. "Signed this weekend coming up" means it's not signed.
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it's being translated and technical reviewed. Liu He is coming to visit. it's in the bag

Which doesn't fix the structural problems with NAFTA
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lol .it DOES fix open markets to Cananda, and North American supply chains instead of China, and offshoring due to Mexico wage guarantees for auto workers.
Looks structural to me!



Thanks to minimum wage increases in 21 states in 2019.
The minimum wage will increase in 25 states in 2020.
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less the half the state does not explain wage growth across all sectors above 3% with little inflation

Thanks, Obama.
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you wish! the longer the curve the more difficult it is to maintain the trajectory.
AND these are record low unemployemt or 50+ years or more
 
dukkha said:
figuring their job prospects are secure to pay it back
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So "hope" is your governing economic ideology?

The "hope" that they will...get higher pay at their jobs to pay the unsecured personal loans back? But the whole reason they take out the unsecured personal loans is because they can't pay down debt right now because their wages are low.

This statement of yours makes less sense as you delve deeper into it. If the economy is doing so gangbusters, and everyone's getting higher wages, debt levels should be declining, not increasing.

All you're doing is inflating a debt bubble.

You've learned nothing from the last 40 years.
 
dukkha said:
because online loans are so easy to get. People are consumers. They want more so they borrow more,
They would not be doing so but for the fact consumer confidence is sky high -so they take on debt to get more now,figuring their job prospects are secure to pay it back
Click to expand...

Here's what you're doing; you're arguing that wages shouldn't be increased because people can just get easy access to credit, and you're assuring them that their job prospects will improve so that they will eventually be able to claw themselves out of a debt hole they created because they couldn't get higher wages.

It's 2006 all over again.
 
LV426 said:
So "hope" is your governing economic ideology?

The "hope" that they will...get higher pay at their jobs to pay the unsecured personal loans back? But the whole reason they take out the unsecured personal loans is because they can't pay down debt right now because their wages are low.

This statement of yours makes less sense as you delve deeper into it. If the economy is doing so gangbusters, and everyone's getting higher wages, debt levels should be declining, not increasing.

All you're doing is inflating a debt bubble.

You've learned nothing from the last 40 years.
Click to expand...

TOO MUCH SPENDING....

A LEFTIST PRETENDING TO BE CONCERNED ABOUT "DEBT"...PRICELESS. :laugh:
 
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