Ep. 276 Even Milton Friedman Slipped in His Defense of Trade Deficits
Bob Murphy Show
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The Problem With Running a Trade Deficit
In general, if a country didn't have the privilege of having global reserve currency, I can see what you mean that importing more than you export could be problematic. But when it comes to a situation like the US, if what those foreigners are ultimately acquiring is just dollar bills that cost us nothing to make, well, then we do get the free launch as it were. And so, again, my argument goes through, that's why I'm saying it can't be true in general,.
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