Trade Deficits Make America Poorer Not Richer Ep.226

Published: Feb. 8, 2017, 1:19 a.m.

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\\n \\t* I will be in Orlando tomorrow for the Money Show
\\n \\t* I will be there Wednesday and Thursday returning Friday
\\n \\t* I have several speaking events, a couple of workshops
\\n \\t* If you\'re in the Orlando area, come by, it\'s free to register online
\\n \\t* You can pick up your badge on site
\\n \\t* We\'ll have a booth in the exhibit all, you can come by and meet some EuroPac employees
\\n \\t* We look forward to seeing clients and listeners
\\n \\t* Last week I spoke about President Trump and his weak dollar policy
\\n \\t* He thinks the dollar is too low, the euro is too low, the yen is too low, the Chinese yuan is too low
\\n \\t* \\xa0Over the weekend Germany\'s finance minister came out and agreed with President Trump
\\n \\t* He agrees that the euro is too low
\\n \\t* We know that the Bundesbank does not approve of the easy money policies, the QE, the negative interest rates that Draghi and the ECB have force upon them
\\n \\t* I believe that rising German opposition as well as rising inflation both in Germany and throughout the European union will ultimately force the ECB to abandon their monetary policy
\\n \\t* Maybe even at the same time that the Federal Reserve is finally admitting that they\'re about to ease again
\\n \\t* We got the jobs numbers on Friday, I did a video blog about it
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\\n \\t* To me, the numbers seem troubling for the Fed because even though we created better than 200,000 jobs the number of people who rejoined the workforce, who now want jobs jumped dramatically
\\n \\t* So you have a lot of people looking for jobs; the jobs aren\'t there
\\n \\t* So the unemployment rate is going to come up
\\n \\t* There will be wage pressures, and that is going to push the Fed in an easing direction
\\n \\t* In fact, we got some numbers that came out today on Consumer Credit
\\n \\t* Credit card debt grew by the smallest amount since 2013, which is a good thing
\\n \\t* We don\'t want consumers taking on credit, it\'s bad economically to borrow money to consume
\\n \\t* I really made that point in my book, "How an Economy Grows and Why it Crashes"
\\n \\t* If you haven\'t read it, pick up a copy at schiffbooks.com
\\n \\t* The point is, it\'s good that consumers are taking on less debt
\\n \\t* Of course, if you\'re a retailer, and you\'re depending on those indebted consumers to go deeper into debt to buy your stuff, that\'s a bad sign
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