Trade Gaps, Tax Cuts and Deficits, Details at 11
Convergence is the word of the day, the preferred definition for my purpose being “the approach of an infinite series to a finite limit.” Don't go away, this is way more useful than Econ-101.
Anyway, we have certainly witnessed an infinite series of trade gaps, Mr. Bush has us well on the way to infinite tax cuts and deficits have been the norm since infinity itself. So, I guess the stage is set. Albert Einstein had a thing or two to say about infinity, but this particular wise quotation of Al’s has to do with what next?
“We can't solve problems by using the same kind of thinking we used when we created them.”
Simplicity of thought and purpose and expression is, of course, the mark of genius.
Those who obfuscate, hide behind complex language or wander off into arcane theory are meaning to put us off the track of solving solvable problems. Case in point, Dick Trumka’s comment on news of current record trade deficits, "This trade deficit is unsustainable, we cannot sit back as other nation…