Trade Deficits Make America Poorer Not Richer – Ep.226

* I will be in Orlando tomorrow for the Money Show * I will be there Wednesday and Thursday returning Friday * I have several speaking events, a couple of workshops * If you're in the Orlando area, come by, it's free to register online * You can pick up your badge on site * We'll have a booth in the exhibit all, you can come by and meet some EuroPac employees * We look forward to seeing clients and listeners * Last week I spoke about President Trump and his weak dollar policy * He thinks the dollar is too low, the euro is too low, the yen is too low, the Chinese yuan is too low *  Over the weekend Germany's finance minister came out and agreed with President Trump * He agrees that the euro is too low * We know that the Bundesbank does not approve of the easy money policies, the QE, the negative interest rates that Draghi and the ECB have force upon them * I believe that rising German opposition as well as rising inflation both in Germany and throughout the European union will ultimately force the ECB to abandon their monetary policy * Maybe even at the same time that the Federal Reserve is finally admitting that they're about to ease again * We got the jobs numbers on Friday, I did a video blog about it * To me, the numbers seem troubling for the Fed because even though we created better than 200,000 jobs the number of people who rejoined the workforce, who now want jobs jumped dramatically * So you have a lot of people looking for jobs; the jobs aren't there * So the unemployment rate is going to come up * There will be wage pressures, and that is going to push the Fed in an easing direction * In fact, we got some numbers that came out today on Consumer Credit * Credit card debt grew by the smallest amount since 2013, which is a good thing * We don't want consumers taking on credit, it's bad economically to borrow money to consume * I really made that point in my book, "How an Economy Grows and Why it Crashes" * If you haven't read it, pick up a copy at schiffbooks.com * The point is, it's good that consumers are taking on less debt * Of course, if you're a retailer, and you're depending on those indebted consumers to go deeper into debt to buy your stuff, that's a bad signOur Sponsors:* Check out Chilipad and use my code GOLD for a great deal: https://sleep.me* Check out Fast Growing Trees and use my code GOLD for a great deal: https://www.fast-growing-trees.com* Check out Plaud AI and use my code GOLD for a great deal: https://plaud.ai* Check out Quince and use my code quince.com/gold for a great deal: https://www.quince.com* Check out Quince and use my code quince.com/gold for a great deal: https://www.quince.com* Check out TruDiagnostic and use my code GOLD20 for a great deal: https://www.trudiagnostic.comPrivacy & Opt-Out: https://redcircle.com/privacy