Nov. U.S. trade deficit falls 12.9% on record-high exports

[pampango]

Source: Global Post

The U.S. deficit in global trade of goods and services in November shrank 12.9 percent from the previous month to $34.25 billion, the lowest level in around four years, on record-high exports, the Commerce Department said Tuesday.

The overall deficit fell to the lowest level since October 2009 with exports growing 0.9 percent to a record $194.86 billion due mainly to strong demand for civilian aircraft and fuel oil. Imports declined 1.4 percent to $229.11 billion.

The U.S. deficit with China decreased 6.7 percent to $26.93 billion, as exports increased 0.9 percent to a record $13.18 billion and imports fell 4.3 percent to $40.11 billion.

The trade deficit with Japan dropped 8.4 percent to $5.84 billion as exports rose 5.5 percent to $5.79 billion while imports dropped 2.0 percent to $11.63 billion.

Read more: http://www.globalpost.com/dispatch/news/kyodo-news-international/140107/nov-us-trade-deficit-falls-129-record-high-exports

[BobUp]

1. Bad news to repuglicons.

[bucolic_frolic]

2. What are we exporting?

Prefab strip malls and McMansions?

[hack89]

5. High tech capital goods, food, oil, chemicals, airplanes among other stuff.

manufacturing is still strong in America, we just don't manufacture much low cost consumer goods.

[pampango]

6. More than half of it is capital goods and industrial supplies and materials.

Capital goods, 28%;
industrial supplies and materials (except oil fuels), 25%;
consumer goods (except automotive), 12%;
automotive vehicles and components, 9.4%;
food, feed[disambiguation needed], and beverages, 8.6%;
fuel oil and petroleum products, 7.6%;
aircraft and components, 6%;
other, 4%.

http://en.wikipedia.org/wiki/Economy_of_the_United_States

[bucolic_frolic]

12. So we're selling them the means of production

so they can compete with us

No wonder we can't revive our consumer goods manufacturing

Countries have often targeted industries to keep and protect for
themselves

German engineering and steel, Dutch dental products come to mind

We're just unfettered now. We have niches to be sure, but we
lack an industrial policy

Wonder how much of our exports are timber and natural gas?
After all we should deplete ours to make money, then we can
buy from them at a higher price

[seabeckind]

3. The title for the article is down right wrong

Yes, there were record exports...

but I don't think you can assume causation. I've been known to be bad at arithmetic but the numbers indicate that we have cut imports quite a bit, primarily from China. That's most likely because of the s..tty economy and reduction of buying power from those who are the primary target of the s..t from China.

And then there's the increased export of fuel oil...hmmm,

The last time I tried to break down our exports they have become primarily raw materials over the last 30 years while the product from that raw material becomes our import.

You know, the nasty stuff we used to do to the 3rd world countries. What goes round comes around.

[denverbill]

4. Oil and natural gas.

[SunSeeker]

7. Only 7.6% of it is oil and natural gas. See post#6 above.

Sorry to be the bearer of good news.

[seabeckind]

9. Missed something

"deficit in global trade of goods and services in November"

is still

"$34.25 billion"

That's not good news. I'll call it good news when we at least break even.

[SunSeeker]

20. How is the trade deficit going DOWN not good news?

It has to go down before we can break even. At least it is going in the right direction for a change.

[denverbill]

13. I don't get the point of your post.

The fact that oil and gas are 7.6% of our exports doesn't mean that isn't what's driving the change in our trade deficit.

http://www.drillingcontractor.org/analyst-numbers-show-that-us-is-drilling-its-way-to-zero-net-oil-imports-15686

It may not be the only factor, and I'm sure aircraft are a big chunk as well, but there is no disputing that we are now a net exporter of oil and that's a big change from a few years ago.

And that oil being produced in the US is not being kept here due to altruistic oil companies. Drill,baby,drill is just making gas cheaper in China.

[SunSeeker]

21. As your link points out, there's less U.S. demand for oil, thanks to increased fuel efficiency.

Oh, and who championed increased fuel efficiency? Yup, Obama.

You're really trying too hard to find the cloud in this silver lining.

Yes, oil exports increased, but so did goods. Manufacturing is actually coming back to the U.S. http://economix.blogs.nytimes.com/2013/09/23/more-manufacturing-coming-back-to-the-u-s/?_r=0

If the Republicans cooperated and didn't block every one of Obama's jobs iniatives, it would be coming back faster. But hey, why let that stop you from hating on Obama?

[denverbill]

22. And you are trying to hard to find an Obama-hater in someone who has been here since 2001.

Good luck with that, and thanks for making DU a little more assholey.

[SunSeeker]

23. I just calls them as I sees them. nt

[denverbill]

24. Sorry about your vision problem. nt

[SunSeeker]

25. No apologies necessary. I see just fine. nt

[SunSeeker]

8. Thanks. You won't see this in most MSM headlines. It doesn't fit with the narrative. nt

[seabeckind]

11. The devils in the details, however.

It's spin.

It is deliberately worded to make you think it's good news.

[Populist_Prole]

15. Bingo

They, the PTB and their minions in the corporate media, want us to be satisfied with at least status quo, free trade wise, if not be enthusiastic supporters of it. They've been doing this double-think bullshit for 20+ years as the trade deficit trended upwards: Ballyhoo every occasional dip in the long term upward trend as all the evidence one needs to be a supporter of free trade; but wag their fingers at us when it goes up ( again ) telling us not to worry because it's good for "consumers" ( which has apparently eclipsed "citizens" as the main focus of public policy ) in the form of cheap shit.

[SunSeeker]

18. If that were true, the PTB would have this as headlines on all the major news outlets.

I just checked CNN, ABC, CBS and NBC. None of them mention this even buried in the business section let alone as a headline.

[SunSeeker]

19. What "details"? Did the trade deficit not go down? nt

[seabeckind]

27. But it's still very high, isn't it?

$34 billion a month.

My complaint is the wording of the headline which makes it seem as if we are starting to become a net exporter. But in fact the primary reason our deficit went down was that our imports went down.

IOW, we seem to be running out of money, don't we? Or at least the ones who buy those consumer goods.

Check the numbers and not just the spin.

[SunSeeker]

29. Well of course. But acknowledging good news does not mean you're satisfied with the status quo.

The headline is accurate. Of course we need to do better, but the GOP has blocked every one of Obama's jobs bills. If we Dems all voted in 2014, he'd be able to pass a jobs and infrastructure bill, and immigration reform, and climate change initiatives.

Shitting on good news plays into the GOP argument that Dem Presidents are bad for the economy. It is amazing how much the economy has recovered despite all that obstruction, if not outright sabotage, by the GOP. At least some of that growth is due to actions taken by Obama/the Dems, and we should acknowledge that.

[Dopers_Greed]

10. Good news

Now when are American workers going to start seeing the benefit of this?

[seabeckind]

28. Exactly.

Of course the people picking cotton are seeing a demand. They put it into bales and send it off, then it comes back a finished t-shirt.

Kinda like Milo where he loses money on each transaction and makes it up in volume.

[Berlum]

14. There's a lot of grumpy whiney complainers on this thread

Americans realize that Republicons HATE it when America is doing well, and get all pissy -- since they have worked so diligently to make America FAIL. They are the well-establish party of negativity, NO, and FAIL. But nonetheless it is always a disappointment when Republicon-Style soul poison and negative spin show up in a place otherwise known for intelligence and good cheer.

[JoeyT]

16. Yeah, it's always awful when people inject facts into something.

The only grumpy whiny complainer post I saw was the one I'm responding to. The one that's sobbing because people are pointing out factual information.

You know what else Republicans are known for? Screaming to remain pig ignorant when the facts don't fit their narrative.

I'm sure my tone will give you a massive sad, but your tone was far worse, so you'll have to deal. Comparing other DUers to Limbaugh is pathetic.

[JoePhilly]

17. All good news must be refuted.

It's a DU constant.

[DCBob]

26. Probaby the best indication yet things are improving.