#ad

But because we in the United States finance our current account deficit by borrowing in our own currency, we can move to a more competitive dollar without the adverse effects that followed currency declines in other countries. ↗

— Martin Feldstein

#adverse #because #borrowing #competitive #countries

But then in April of 1985 the dollar began a sharp decline. The dollar's trade weighted value fell 23 percent in just 12 months and by a total of 37 percent by the beginning of 1988. ↗

— Martin Feldstein

#began #beginning #decline #dollar #fell

I think that over the last few decades, we have seen better economic outcomes than in the past. ↗

— Martin Feldstein

#decades #economic #few #i #i think

A steady patriot of the world alone, The friend of every country but his own. ↗

— George Canning

#country #every #friend #his #own

You have to be very rich or very poor to live without a trade. ↗

— Albert Camus

#poor #rich #trade #very #without

The more competitive value of the dollar turned around the trade deficit. ↗

— Martin Feldstein

#competitive #deficit #dollar #more #trade

The only way that we can reduce our financial dependence on the inflow of funds from the rest of the world is to reduce our trade deficit. ↗

— Martin Feldstein

#deficit #dependence #financial #funds #only

We are already expected to be the goodie two shoes. I went through that during my junior high schools where I wasn't allowed to watch television. I wasn't allowed to listen to the radio. ↗

— Nick Cannon

#already #during #expected #high #high schools

If you compare the size of our reserves of Saudi Arabia and the whole Middle East, it's like three times as much as all of that combined and that's just the easily, readily available 1800 billion barrels and there are probably 3 billion barrels that are commercially just under that, available. ↗

— Chris Cannon

#available #barrels #billion #combined #commercially

To finance this trade deficit, the U.S. has to borrow from the rest of the world or sell American assets like stocks, businesses, and real estate to the rest of the world. ↗

— Martin Feldstein

#assets #borrow #businesses #deficit #estate