A Quote by Ben Bernanke
In a slow-growing world that is short on aggregate demand, Germany's trade surplus is a problem.
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America has much to gain in terms of jobs and trade by meeting the growing world demand for advanced, environmentally sound technologies.
It should be possible to emphasize to students that the level of employment is a macroeconomic issue, depending in the short run on aggregate demand and depending in the long run on the natural rate of unemployment, with microeconomic policies like tariffs having little net effect. Trade policy should be debated in terms of its impact on efficiency, not in terms of phoney numbers about jobs created or lost.
China are running trade deficits with the rest of the world. If you look at the U.S. trade deficit, it's close to $800 billion trade in goods. Half of that is with China, so it's a big part of the problem. And the problem with China, as opposed to, say, Canada, is that China cheats.
The trade deficit is the capital surplus and don't ever think of having a capital surplus as being a bad thing for our country.
The World Trade Organization is an organization that defends trade interests. I think the problem is less that they exist. The problem is that internationally we've only got an organization that protects trade interests. Surely we need some kind of counterweight to protect human rights and the environment, too.
Disciples of Keynes, who focus on aggregate demand, view any increase in household wealth as raising employment because they say it adds to consumer demand.
Even if America tomorrow - and it won't happen overnight - but if we did reduce our demand for gas and natural gas and crude oil by a significant degree, that does have an exponential effect on producers in the Middle East, everything else being equal. But if China's demand is growing and India's demand is growing, they are not going back.
The Himalayan glaciers, China's trade surplus, Olympic ice hockey - the world is full of pressing subjects that people never consult me about.
If trade deficits are good, why is China so pleased that they run a huge trade surplus? It's perfectly obvious that if China hadn't been such a huge net-exporter, it never would have grown at the rate that it did.
In a world with weak aggregate demand, countries are engaging in a futile competition for a greater share of it. In the process, they are creating financial-sector and cross-border risks that will become increasingly apparent as countries exit their unconventional policies.
...Jabotinsky insisted that all energies be expended to force the Congress to join the boycott movement. Nothing less than a 'merciless fight' would be acceptable, cried Jabotinsky. 'The present Congress is duty bound to put the Jewish problem in Germany before the entire world...(We [Jews] must) destroy, destroy, destroy them, not only with the boycott, but politically, supporting all existing forces against them to isolate Germany from the civilized world...our enemy [Germany] must be destroyed.
I went to school on a military base in Germany. I got a lot of my clothes at the army surplus store.
Global demand for dollars has supplanted demand for manufactured goods and services, resulting in multilateral trade deficits and loss of jobs at home.
Beauty and elegance are a right, not a surplus... . We must demand, at least, intention.
America felt victorious and generous after World War II. They had also learned from the mistakes after World War I when they imposed punishment on Germany. What became of Germany? A Nazi dictatorship which threatened the world. Today's Germany doesn't feel as prosperous and generous as America then. But actually, Germany still is very prosperous.
The real problem is the total capitulation of German social democracy to capitalism, reflected and symbolized by actual extreme center coalition governments in Germany, which have been in power for a long time and still are even as we speak. That is the real problem: that there is no serious opposition in Germany at all. And the Left party is divided.
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