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It’s not necessarily “buy American” that’s the solution to the US trade deficit. What should ideally be happening is that the US produces more and exports more to other countries.

Protectionist and isolationist economic measures just can’t work anymore in the global economy.

I always get irked when I see those bumper stickers that say “Out of a job yet? Keep Buying Foreign!”

It shows ignorance, because every product and service (not to mention innovation, skill and manpower) we all use today is a mix of “domestic” and “foreign.” I saw the sticker yesterday on a GM truck (in Canada) that was made in the U.S. How ironic for that driver!

However, in the end what is essential if the greenback isn’t to truly collapse is that the US pays off its massive debts. It seems that the Fed is trying to inflate its way out of paying off its debts.