We received the following in an email from Bob Hall. He asks,
“In this economy? People what the hell? Have we lost our survival instinct — our will to live?”
On the first page of “U.S. International Trade in Goods and Services, July 2012″ –www.census.gov/foreign-trade/Press-Release/current_press_release/ft900.pdf the U.S. Census Bureau reports that our July goods deficit was $57.3 billion, seasonally adjusted.
- Not seasonally adjusted, our July goods deficit (census basis) was $70.2 billion.
- So, our total goods deficit was worse — as it turns out, the worst since April 2008 — but China’s portion of it was less.
- In July, in actuality, our goods deficit with China was 41.8% of our total goods deficit. This still includes oil.
- We still racked up a $29.4 billion (census basis) goods deficit with China –
- – and this is still an all-time, history-of-the-planet record.