Was actually listening to Don Imus on the way to work. He has Stossel on often. Speaking of instinct, Imus thought he meant when picking stocks, talking economy and all that. But, Stossel says he meant that it is human nature to think that a big trade deficit with China is bad for the economy. His reasoning was along the line of allowing he US consumer to save $$ on clothing and other goods. By his theory, he was saying that this would allow the average person to spend more money, thus stimulating economy. Sort of a 'trickle up' type of thing I guess. Interesting to listen to, having a hard time buying it. c
Yep, having been a long time market researcher, I have to agree about the number manipulation. Just common knowledge among traders. If my CPA had to 'adjust' numbers like the government does, I would get a new CPA. But, to the point about technology. Those jobs will never return. The rest of the world is catching up in many other ways as well. We need to figure out a way to take control again, and I'm not sure buying cheap goods from overseas is the way to do it, as Mr. Stossel points out. c