Let's look at the political angst over trade deficits. There cannot be a trade deficit in a true economic sense. Let's examine this.
I buy more from my grocer than he buys from me. That means I have a trade deficit with my grocer. My grocer buys more from his wholesaler than his wholesaler buys from him. But there is really no trade imbalance, whether my grocer is down the street, in Canada or, God forbid, in China.
More Americans are paying attention to the presidential primaries but their enthusiasm has fallen, while fewer than a third say the process is working as it should, according to surveys released Friday by Gallup.
Among Republicans and independents leaning to the GOP, the proportion who say the process is working right fell to 30 percent this week from 46 percent in January, Gallup reported. Among Democrats and independents leaning their way, Gallup said there had been no change in views on the topic over the same period. But just 32 percent of Democrats said the process was working properly.
