- China announces a record trade surplus
- Media reports surplus as bad news for China
- Because of the strength of the Yuan, Chinese can buy more imports for less
- Chinese consumers purchasing more
- Chinese businesses manufacturing more
- Contrary to press reports these factors point to a strong economy in China
- U.S. has record deficits along with a strong dollar
- The short term effect of a strong currency is that trade deficits should go down because imports are cheaper
- The fact that our trade deficit continues to rise illustrates underlying economic weakness
- Media double standard: China trade surplus is bad but U.S. trade deficit is good
- Media reports “low rate of unemployment” among college grads, however:
- Record number of college graduates are under employed
- Only 44% of employed Americans work 30 hours or more per week
- In future, the smarter students will skip low-value degrees in favor of work experience
- Shake Shack IPO valuation $1.5 billion on $5 million profits
- Grilled Cheese Truck: valued at $100 million on negative revenues
- Black is white and white is black: Twilight Zone
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