Ron Paul Gives Fed's Ben Bernanke a Schooling (6 mins)

Yup...

As Bernanke said... a devalued dollar only affects the consumer when they buy imported goods.... (sheesh... what do we buy that's either not imported or has some component that's imported)

U.S. International Trade in Goods and Services Highlights

<!- **************************************** -><!- Release date ->November 9, 2007 <!- End Release date -><!- **************************************** ->
<!- **************************************** -><!- Headline from congressional release->Goods and Services Deficit Decreases in September 2007

<!- **************************************** -><!- First paragraph ->The Nation's international deficit in goods and services decreased to $56.5 billion in September from $56.8 billion (revised) in August, as exports increased more than imports.​

<!- **************************************** ->​

Goods and Services

• <!- **************************************** -><!- Good and Services ... Item 1 ->Exports increased to $140.1 billion in September from $138.6 billion in August. Goods were $100.2 billion in September, up from $99.0 billion in August, and services were $39.9 billion in September, up from $39.7 billion in August.​
• Imports increased to $196.6 billion in September from $195.4 billion in August. Goods were $166.0 billion in September, up from $165.1 billion in August, and services were $30.6 billion in September, up from $30.4 billion in August.
• For goods, the deficit was $65.7 billion in September, down from $66.1 billion in August. For services, the surplus was virtually unchanged at $9.3 billion.

Goods by Category

• The August to September change in exports of goods reflected increases in foods, feeds, and beverages ($0.7 billion); industrial supplies and materials ($0.7 billion); consumer goods ($0.3 billion); and automotive vehicles, parts, and engines ($0.1 billion). Decreases occurred in capital goods ($0.4 billion) and other goods ($0.3 billion).
• The August to September change in imports of goods reflected increases in capital goods ($0.8 billion); automotive vehicles, parts, and engines ($0.3 billion); and consumer goods ($0.2 billion). A decrease occurred in industrial supplies and materials ($0.4 billion). Other goods and foods, feeds, and beverages were virtually unchanged.

Services by Category

• The August to September change in exports of services reflected increases in travel ($0.1 billion), passenger fares ($0.1 billion), and transfers under U.S. military sales contracts ($0.1 billion). Changes in other categories of services exports were small.
• The August to September change in imports of services reflected an increase in travel ($0.1 billion) and small increases in most other categories.

Goods by Geographic Area (Not Seasonally Adjusted)

• The goods deficit with China increased from $22.5 billion in August to $23.8 billion in September. Exports decreased $0.3 billion (primarily raw cotton and nonferrous metals) to $5.6 billion, while imports increased $0.9 billion (primarily TVs and VCRs and other household goods) to $29.4 billion.
• The goods deficit with Mexico decreased from $6.9 billion in August to $6.3 billion in September. Exports decreased $1.0 billion (primarily petroleum products, semiconductors and electric components, and automotive parts and accessories) to $11.3 billion, while imports decreased $1.6 billion (primarily crude oil and automotive parts and accessories) to $17.6 billion.
• The goods deficit with the European Union decreased from $10.2 billion in August to $6.4 billion in September. Exports increased $0.5 billion (primarily civilian aircraft, pharmaceutical preparations, and organic chemicals) to $20.7 billion, while imports decreased $3.3 billion (primarily passenger cars, pharmaceutical preparations, and generators) to $27.1 billion.

Remember its not only goods... but services as well... remember all those jobs and call centers that went south and across the oceans...

Here's a couple of nice links that illustrate how much is imported by month from each country....

Hmmmmmm..... interesting......

http://www.census.gov/foreign-trade/Press-Release/current_press_release/exh14.pdf

Here's the entire site... good search material...

http://www.census.gov/foreign-trade/Press-Release/current_press_release/press.html

if you believe what you read...


Party on!