US imports decline. US exports increase. New US jobless claims go down

[NNN0LHI]

Isn't that remarkable how that works?

Don

http://www.bloomberg.com/news/2010-09-09/trade-gap-in-u-s-probably-narrowed-in-july-as-imports-slowed.html

Trade Gap in U.S. Probably Narrowed in July as Imports Slowed

By Courtney Schlisserman - Sep 8, 2010 11:01 PM CT

The U.S. trade deficit probably narrowed in July as a slowing recovery prompted Americans to buy fewer goods from abroad, economists said before a government report today.

The gap between imports and exports decreased to $47 billion from $49.9 billion the prior month, according to the median of 73 estimates in a Bloomberg News survey. A separate report may show initial jobless claims fell to a level that shows firings remain elevated.

Demand for overseas products may cool as American consumers and businesses curb spending in coming months, while growing foreign economies help support demand for U.S.-made goods. Exports will probably be a source of strength for manufacturing as the world’s largest economy tries to sustain a recovery from the worst recession since the 1930s.

[bluestateguy]

1. Is that good or bad for the GDP number?

I remember in Q2 the high import number depressed the GDP.

[fasttense]

2. I wonder if this isn't just a decrease in overall sales of imports.

Americans don't have the money to buy much anymore and since most of the junk in stores is imported, imports will see a larger decrease.

[madokie]

3. How the big money man can't see that he's killing the golden goose is beyond me

at some point if things keep going as they have, shipping our jobs overseas, lowering wages etc there won't be anyone with any money to buy any of the products that these idiots are selling. short sighted people just piss me right the fuck off and thats what our problem is right now, greedy short sighted people who haven't the sense the realize they're shooting themselves in the foot, so to say.