The US has had a trade deficit since 1975, so is the US trade deficit really such a bad thing?
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You cannot be a reserve currency without running a massive federal deficit, so in order to maintain world currency status, deficits are structurally required.
TLDR: it’s lunchtime and you really want snakpacks. But it is not just you, it’s fucking everyone. But that kid over there, billy, his mom gives that fucking kid like 12 snakpacks a day. So you trade your carrots to Jenny, who promises to trade her oatmeal cookies to Katy, who billy has a crush on to get the snakpaks.
So at the end of the day billy has like zero fucking snakpacks, Jenny has your carrots and katy has an oatmeal cookie and you have like 1/2 a snakpack but Jenny owes you the other half tomorrow. Everyone traded in snakpacks but used other items, but the price was in snakpacks because everyone agreed that is what is the best. Billy has all the other stuff except the snakpacks, the system breaks down if he just hordes them, because money is debt.
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