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

Discussion in 'Financial Cents' started by melbo, Nov 10, 2007.


  1. melbo

    melbo Hunter Gatherer Administrator Founding Member

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  2. Bear

    Bear Monkey+++ Founding Member Iron Monkey

    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[beat])

    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.​

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

    [​IMG]

    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......[boozingbuddies]

    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...[beer]


    Party on![boozingbuddies]
     
  3. melbo

    melbo Hunter Gatherer Administrator Founding Member

    Nice work Bear![boozingbuddies]
     
  4. Clyde

    Clyde Jet Set Tourer Administrator Founding Member

    Bernanke didn't want to say ....Devalue of the Dollar...he carefully caught himself and said "Decline". He looked about as uncomfortable as a husaband caught in the act of cheating on his wife by his wife.
     
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