Buffett offers up a different way to address the trade deficit
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@Mik said in Buffett offers up a different way to address the trade deficit:
It comes from an intelligent businessman and is worth considering. So consider it.
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I did. If an idea is worth considering only because an intelligent businessman proposed it, it is also worth asking why said intelligent businessman hasn't talked about it since. If the intelligent businessman has changed his mind, that is also worth considering.
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An intelligent businessman may be good at running a business. Doesn't mean he's also good at running an economy. Microeconomics ≠ macroeconomics.
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This effectively limits total imports to the value of exports, achieving trade balance. It also creates a powerful financial incentive to export, since companies can sell their certificates on the open market to importers.
Not sure I agree with this. By that I mean that I am not 100% agree that a trade balance is the best strategy.
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Another Buffet proposal that has got the endorsement of Elon Musk.
Over a decade after billionaire investor Warren Buffett had given a quick fix for America’s budget deficits, his old interview clip is making waves again on social media, and this time his idea is being backed by Tesla CEO Elon Musk and Utah Senator Mike Lee, as per a report.
Recently, Lee shared a video of Buffett's 2011 interview with CNBC, where he had said, "I could end the deficit in five minutes,” quoted Moneywise. “You just pass a law that says that any time there's a deficit of more than 3% of GDP, all sitting members of Congress are ineligible for re-election,” quoted Moneywise.
The Utah senator, in his social media platform X post, asked the public, “Would you support this amendment?"
