Good Politics Is Bad Economics – Ep 803
The Peter Schiff Show Podcast
00:00
The Indonesian People Are Going to Be Worse Off Because of This Export
Indonesia earns a lot of revenue from exporting palm oil. Now what does indonesia do with the money it earns through exports? Well, it uses that money to pay for its imports. Pople want real stuff like vegetable oil. And so indonesia is able to export vegetable oil and then take the earnings and import something else. That's great for indonesiax ort more palm oil, earn more money. That's a positive. If you're looking at your country as a business and now at of your products is really in good demand and you're making a lot of money selling it, why woul'd you cut off that market?
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