The United States is poised to rack up a record trade deficit this year. Politicians and the media will make a big deal about this, but the truth is that trade deficits really don’t matter. Trade is simply an exchange. So long as it’s voluntary, by definition, both parties are better off.

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Quick Hits

US Debthttps://www.cnn.com/2020/10/08/economy/deficit-debt-pandemic-cbo/index.html https://fred.stlouisfed.org/series/GFDEGDQ188S

Facebook Currencyhttps://news.trust.org/item/20201012143626-bfcy3

Foolishness of the Week

Super Trump

https://thehill.com/homenews/administration/520540-trump-wanted-to-rip-open-shirt-to-show-superman-t-shirt-when-leaving

Topic of the Week

Trade Deficit

https://fred.stlouisfed.org/series/IEABC

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