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Trade deficits are OK under certain circumstance. 1. An emerging nation imports capital goods necessary to enhance its productivity. 2. A developed nation, with a current account surplus, uses some of its investment income to finance the purchases of additional consumer goods from abroad.
- Peter SchiffPhoto by Gabriel Jimenez on Unsplash
Trade deficits are OK under certain circumstance. 1. An emerging nation imports capital goods necessary to enhance its productivity. 2. A developed nation, with a current account surplus, uses some of its investment income to finance the purchases of additional consumer goods from abroad.
- Peter SchiffI get really sad when people say, 'I'm no good. I haven't been cast in a pilot.' It doesn't mean you're not good; it just means someone hasn't seen you yet. It doesn't mean that in real life you're not the greatest actor.
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