A few new statistics came out this week about our economy.  First, our so-called Trade Deficit has widened.  Second, our levels of oil imports have fallen.  And third, the price of oil still is pushing up against $87 per barrel.  What does all this tell us?

Well first of all, there is no such thing as a trade deficit.  This is the most heinous of statistics, as idiots (read politicians) use this data supposedly showing us mortgaging our futures to the foreigners as proof we need to protect US jobs by banning or taxing imports from other countries.  Putting aside that "protecting" domestic producers of anything at the same time makes them less competitive and therefore they produce inferior products. Adding that this only serves to penalize all of us with higher prices -  there is no deficit because we receive products or services equal to what we spent for them.  A deficit assumes that all we have is worthless and with the way the government is inflating our currency,we are likely better off with the products and services anyway.

Meanwhile, oil imports are down but oil prices remain stubbornly up.  What has happened to supply and demand?  When consumption is down should prices go down with it?  Well normally I would say yes, but this is just another sign of the inflation that is already here.  Cheap dollars force foreign oil producers to charge more for their oil in order to get the same bang for their buck.  Look for oil prices to go higher and higher from here.  This is just another tax (a big one) on our economy, along with the slew of taxes and regulations being foisted upon us by the government.  All of it is one giant drag, but mark my words, the idiots won't be blaming themselves for printing a bunch of make believe paper money. They will instead blame evil foreigners for making things more expensive.  Cut our own budget, lower taxes, and put our own house in order?  Ha ha!  Who do you think you're kidding?

Meanwhile, President Hu of China told our own president to go fish on revaluing the Yuan, which as I have written before would be a huge mistake.  Go President Hu!  Increasingly, it is easy for foreign leaders to tell our president off and this is because the rest of the world is already clear on what we are just now realizing: we have elected a weak man.