This page has been archived and commenting is disabled.
US Trade Deficit Deteriorates As US Import Price Index Surges By Most Since June 2009
Another month, and another confirmation that the US export segment is non-existent. In February the US posted a $45.8 billion trade deficit compared to $47 billion in January, but worse than expectations of $44 billion. Importing our way to prosperity and #Winning_the_Future continues. Comparing the Chinese reported trade surplus with the US and the US reported trade deficit with China we get just a 100%+ difference: $7.8 billion versus $18.8 billion. Gotta love two administrations that just make up numbers trying to reconcile their fraud. This number also means that Q1 GDP will see another major revision lower. And so will Q2, Q3 and so forth, leading to QE3. And while we are at it, let's just make it stagflation: the US import price index surged from 1.4% to 2.7% on expectations of 2.1%: the largest rise since June 2009.
From the report:
Goods and Services
- Exports decreased to $165.1 billion in February from $167.5
billion in January. Goods were $118.0 billion in February, down from
$120.4 billion in January, and services were $47.2 billion in
February, up from $47.1 billion in January. - Imports decreased to $210.9 billion in February from
$214.5 billion in January. Goods were $177.3 billion in February,
down from $180.7 billion in January, and services were $33.6 billion in
February, down from $33.8 billion in January.
- For goods, the deficit was $59.3 billion in February, down
from $60.3 billion in January. For services, the surplus was $13.6
billion, up from $13.3 billion in January.
Goods by Category (Census basis)
- The January to February decrease in exports of goods
reflected decreases in automotive vehicles, parts, and engines ($1.0
billion); industrial supplies and materials ($0.6 billion); other
goods ($0.5 billion); capital goods ($0.3 billion); consumer goods ($0.2
billion); and foods, feeds, and beverages ($0.2 billion). - The January to February decrease in imports of goods
reflected decreases in automotive vehicles, parts and engines ($2.3
billion); capital goods ($2.1 billion); industrial supplies and
materials ($1.4 billion); and other goods ($0.1 billion). Increases
occurred in consumer goods ($2.3 billion) and foods, feeds, and
beverages ($0.1 billion).
Services by Category
- Exports of services were virtually unchanged from January to
February. An increase in other private services ($0.1 billion), which
includes items such as business, professional, and technical services,
insurance services, and financial services, was partly offset by a
decrease in other transportation ($0.1 billion), which includes freight
and port services. Changes in the other categories of services exports
were small. - The January to February decrease in imports of services was
more than accounted for by decreases in other transportation ($0.2
billion) and travel ($0.1 billion). An increase in other private
services ($0.1 billion) was partly offsetting. Changes in the other
categories of services imports were small.
Goods by Geographic Area (Not Seasonally Adjusted)
- The goods deficit with China decreased from $23.3 billion in
January to $18.8 billion in February. Exports increased $0.4 billion
(primarily passenger cars, soybeans, and steelmaking materials) to $8.4
billion, while imports decreased $4.1 billion (primarily computers and
accessories; toys, games, and sporting goods; and electric apparatus) to
$27.3 billion. - The goods deficit with the European Union increased from
$5.6 billion in January to $6.9 billion in February. Exports decreased
$0.3 billion (primarily nonmonetary gold; soybeans; and artwork,
antiques and stamps) to $20.0 billion, while imports increased $1.1
billion (primarily pharmaceutical preparations, civilian aircraft, and
household goods) to $26.9 billion. - The goods deficit with the Japan increased from $5.0
billion in January to $5.2 billion in February. Exports increased $0.3
billion (primarily metallurgical grade coal; civilian aircraft, engines,
equipment, and parts; and corn) to $5.3 billion, while imports
increased $0.6 billion (primarily automotive parts and accessories,
computer accessories, and motorcycles and parts) to $10.5 billion.
»
- 4944 reads
- Printer-friendly version
- Send to friend
- advertisements -
dollar just took a huge dump...hope you folks bought the silver dip
So how much of the $73 billion that Billy had in his pocket just disappeared?
So, how far underwater (already) is yesterday afternoon's $1 million dollar bet against silver?
as of 10:10am in NY it seems just fine
I'm sure the Fed speakers won't let pesky details like facts stop them from explaining how there is no inflation.
Just wait until all that GREEN manufacturing kicks in..................
Bunch of dumbfucks.................
and the $DXY goes spelunking to new lows....
Yeah i was.hoping for just a couple of weeks of strength
US exports of empty containers at record high.
At least something.
The US has run a net trade deficit in total goods + services (combined) every single month since January of 1992:
http://www.bea.gov/international/#trade
Every single month with no exceptions.
Free Trade = Yet another brilliant idea brought to you by the elites
Isn't it by design? Isn't the plan to contribute little and take out a lot from global trade? For example, till recently our town schools would leave lights on in all rooms all-night, (school lights blazing away, a real shining beacon on the hill) -- tells you what we think of the "real" cost of energy!
Exporting jobs along with our manufacturing base is a bad design.
In my view, it was net gain to our economy but led to severe undervaluing of real resources and to severe misuse of these resources. Now those resources are gone, we are faced with bleaker future earlier than if we had judiciously used those resources -- but the reasoning our strategic thinkers in power have probably applied is that if we don't consume it, someone would -- so might as well consume it.
<<< In my view, it was net gain to our economy >>>
In your opinion, a cumulative $6+ Trillion trade deficit over the past 19 years was a net gain to our economy?
You must really believe in magic... and the Tooth Fairy... and Santa...
It's just paper for "real" stuff! I will take real stuff any day over paper that our magic banker can create at will.
I suppose the 3+ million manufacturing jobs that left America don't matter...
You win some, you lose some. They get 99 weeks and SNAP for life! But, gas is relatively cheap (compared to the rest of the world) for most of us to tool around in our F150s!
Strange line of reasoning...
Perpetual monthly trade deficits in the tens of billions per month will bleed America.
Now I see the flaw in your reasoning -- you are worried about the future. But the system is saying "Don't worry, be happy" - live for the day, consume. GWB said it, Obama is urging us to do as well -- our role in world trade is to be good consumers! Who can see into the future and wonder what will happen if and when we run out of essential resources. The USD is allowing us to enjoy the here and now, so enjoy!
GWB and Obama are clueless, and neither were qualified to be POTUS (imo). I hope America can find a leader, though my expectations are low because the two-party system has a stranglehold on the process. I believe Ron Paul is competent and has integrity, but I am equally sure he has zero chance of being POTUS.
japan will save our economy..exports of food and lead clothes will soar.along with citi opening new branches to finance construction with 0 down loans.
Like in England, you can only raise prices so much on broke unemployed people before sales drop off, just Hood Econ 101.
You're never to broke.
I'll give you one ounce of silver for your kidney!
I want to cook something special for my dog.
You were junked!! How short sighted!! My nephew, father of 3, has been on and off 'the dole' since 2008. In sheer desparation he recently sold a testicle.
who buys that?
Is that even legal?
Why not both? Is he planning on having more children he will struggle to feed in the future??
Hood Econ 101
The frightening thing is sales dropping is only the first hit to the bottom line.
When the people start robbing / stealing / and committing property damage the profitability looks even worse.
YEA when the neighborhood economy revolves around who's got the most ammo, then its real interesting times!
So the US deficit grows constantly...
The trade deficit grows constantly...
Inflation grows constantly...
I CALL THOSE GREEN SHOOTS!!!
You fill a QE canon with 100$ bills and blast a canon ball from the canon. Whatever money makes it in 1 piece get's to go to the real economy and produce GREEN SHOOTS!!!
SAINT-BERNANKE RULES!!
The shitty part is that the goal is the destruction of the dollar and the US to remove it as the global reserve currency and institute a new global regime (financially, think British Empire), so for the good americans that actually give a shit that know this are shorting and hedging against the US because they have to if they want to protect their future further exacerbating the problem. While the majority that are asleep have no idea what the fuck is going on.
Thats right, and it appears theyre pretty close to go-time.
Actually should have said, to protect their FALSE sense of security because it will not be a good thing.
We need to export some more of those Chevy Cruzes!
LOL +100 - with the 'detachable' steering wheel feature at NO extra charge
The fucking asshat on our local "news" radio station mentioned this story this morning.........and then he ended it by saying (paraphrased, but I shit you not he actually said)
"Not to worry though if you own a new Cruze. This problem was only with 1 car in which the incorrect steering wheel was put on at first"
He made NO MENTION of the fact that they KNOW FOR A FACT that there were a couple of thousand where the steering wheels were swapped in this manner as reported here on ZH yesterday.
Sick. Even local reporters are in the Gestapo now, carrying the water for Der Furher.
Near the end of the segment, Burnett remarked that the United States is "...a very wealthy country. If you look at our assets, we could pay down the debt tomorrow. We choose to borrow because we can borrow at incredibly low interest rates." By "assets," Burnett seemed to be referring to the income of all Americans (unless she plans to auction off the Statue of Liberty to pay our bills).
so many women in positions that were once held by men ..look how much better things are working..
Whaaaaaaaaaaaa?
The usa becoming more export oriented will require getting rid of socialist type regulations and redistribution policies which increase cost of capital and decrease incentive to work.
WTF do we 'export' except debt and jobs? We dont even manufacture underwear here anymore.
Any policy that encourages laziness should be outlawed, any one proposing such policies should be arrested.
Gold and silver have regained all their drop off and then some, USD 74.6, DOW down 60...enjoy.
fwiw: large movement of tank units to Afgan in next 12 months..will it be Iran or Paki that gets nailed or both??
this from one who got his orders to get ready ..
Obuma the man of peace..gotta laugh at the sick fuc* in the white house.
he is a sick f**K
Bigger war monger than Hitler in my opinion.
Fort Benning just built a whole new tank division. Are they really shipping those things?
"will it be Iran or Paki that gets nailed or both??"
Just in time for the (presidential) campaign season. "You gotta reelect me, I'm a waaaaarrrrr president."
if congress lets this illegal president start another war or expand it yet again they should all be hung on lamp posts how much more blood and treasure will they spill??
tank units into afgan makes no sense unless you are planning something much larger ten years of this war and no rioting in the streets the left has gone awol.
Unless you think Pakistan will become unhinged. Frankly, I would have thought that the rough types in Pak would have set off a few firecrackers just to see what they would do.
I want to hear/read the Federal Reserve PhDs explain how food & energy prices are increasing by double digits versus the pathetic CPI calculation - nope, only MODEST inflation here - sarcasm off
Like England we'll also run into the brick wall where sales drop off the cliff, because people are simply broke. Only sales #'s will be shoppers maxing out their gubment SNAP cards. Reported yesterday that gas prices are already being met with lowered demand. And its not even 'driving season' yet, where apparently bankrupt americans drive about here and there.
"2011 Hunger Champions Award Nominations Open" - http://www.fns.usda.gov/snap/outreach/coalition/2011_hunger_champions.htm
Everyone loves a winner?
How can this be a surprise to the markets? It's the "WalMart Effect" -- cheap consumer goods in return for a balloon payment to China that the U.S. cannot meet.
re the difference in trade deficit with China, the answer may lie in those corporations that transfer goods via tax shelters, so the export value recognized out of the US is lower than paid by China at the other. The difference will sit on overseas profits that the corporations want a tax holiday for.
Trade deficit ? Ireland has the largest trade surplus on record and also the largest depression since the famine.
During the famine we exported our food , seems we are slow learners.
Large trade surplus nations are colonies .
And yes Germany is a colony - its the Bundesbank's Bitch.
The FED is engaging in a nationalistic policey - like it or not.
The problem with your deficit is that you blow it all on mindless consumption.
Double Post
People cant consume much when theyre broke. The money printing and 'wealth effect' are for Wall St bankers only, the people have never been so broke.
How high can you raise prices on someone with no money? Not very.
I never said consumption in the US was not shall we say unbalanced but there is too much personal consumption in the US on Aggregate.
Capital formation is a different matter however.
The nationalistic petrodollar regeime has concentrated consumption in New York and other financial centres but that petrodollar does come home to America.
I agree and most of the 'consumption' is due to govt handout SNAP cards, 43 million americans would not be eating today if not for that.
America has a great landmass - stuffed with food growing potential - Food is not a problem.
Reducing oil dependence is however a different matter - there can be huge efficiencies here given the inherent waste withen the system.
And capital expenditure here is sadly weak while increasing tax on gasoline seems almost sacrilegious.
WINNING!!
Yeah, not sure I would bite on ANY premarket pricing today...not on anything. Price discovery suicide...that is what is going on this morning. RSI on certain things going all infinity-like. If someone could just run a hose into the room next to where Duncan Niederauer takes his afternoon crap...maybe we could turn things back in the direction of normal again. Thanks criminal syndicate Wall Street banker fuckwads...love ya.
I suspect almost everything will break down today by the close. There isn't a market anywhere as far as the eye can see.
Alas, prices can only go so high in a bankrupt nation.
For those calling for $7+ gasoline...already at $4 youre seeing the strangulation effect with demand ropping off the cliff.
Same will be for calls for food to shoot up...go ahead and charge $10 for a loaf of bread, we'll see how many of em you sell to BK americans.
Real "price discovery" does not exist in this FUBAR market.
100% Ponzi market
I'd agree with that Cdad! Pretty sickening how this market continues on without correlations or reason. Another reason why we should be creating some civil unrest for our so-called leaders.
Amazing that oil is down this morning. Why would that be? Libya event is ratcheting up, dollar is down....yet crude decides to do the swan dive at the command of GS and other primary dealers. Its a farce. What amazes me is the ever strong allegiance to elliott wave counting and the never-ending failure to get anything right. I think EWI probably takes the cake in that department.
Fuck exports - building internal capital is what the goal should be.
Why would you want to export into such a absurdly mutated global trade nightmare ?
This is what new world order insanity looks like, the 3rd Reich was a walk in the park in spring by comparison.
I like hope QE lite and QE expectations were front run and began to be baked into once Jackson Hole was over yet no apparent need to front run QE ending?
Double standard = rigged in my book
Its not even like past monetization examples like Germany and Zimbabwe, at least in those cases the people had the money to fill their wheelbarrows with.
In USA great monetization excercize, the money only goes to Wall St bankers.
"In USA great monetization excercize, the money only goes to Wall St bankers."
If you'd be a banker, you'd find that quite smart actually....
OH well Im sure if I was a criminal Wall St bankster, I'd highly agree with Bernanke handing me billions of dollars daily free of charge to go purchase stocks I was told to buy with it.
Hey wheres Robo this morning to throw up some more GLD SLV charts? Huh, must be his day off.
here's one! And if history is any indication....silver should be a good short soon!!
http://stockcharts.com/h-sc/ui?s=$SILVER&p=W&yr=16&mn=11&dy=12&id=p15808085129&a=221446383&r=3322&cmd=print
Well now PM's have to mark to currency drop or its just like equities, loss in purchasing power.
dogi,
I think you can short ALMOST anything today....minus the VIX or the US dollar. Unwind day...in the room next to where Duncan Niederauer takes his afternoon dump, the room where Duncan helped the criminal syndicate front run the entire world.
Sweet! Market? What market?
I think the BS has about run its course for the 'all is well' brigades! Things are lookin ugly, rumors of wars...WTF now we're charging into Iran? Follow Israels orders as usual.
think that a full blown correctio is on the way: http://www.hedgefundlive.com/blog/tuesday-market-expectations-41211-full-blown-correction-is-on-the-way
All those fucking retards that were touting that a weak dollar was good for our trade deficit and that we'd see an exporting/manufacturing renaissance should be branded as idiots and banned from speaking their nonsense to the public-- I think that idiot Obama once was saying the same thing which proves he doesn't know shit about shit and only takes orders from the banking cartel that is responsible for the social class genocide. What a dumb worthless piece of shit.
Hey, what the world needs is more soda pop - more cola - more game console software - more CA porn - more reality T.V. shows - more obtuse financial products to defraud pensioners and savers overseas.
Do you realize how cheap this makes MBS's for Detroit real estate and bond issues for sewers in LA?
The Detroit Symphony just came off strike and had to suffer the indignity of accepting an $80,000 a year minimum salary with fully paid health insurance. Oh the humanity!
Weak dollar not working....time to cut wages/benefits to be competitive in world markets. Isn't that the plan?
Yes...
I have a suspicion they don't mind crushing the dollar as it makes exports cheaper, shrinks the debt (shadow inflation), AND makes it that much harder for a citizen to expatriate and take their money elsewhere.