The indispensable Phil Magness catalogues some of the elementary – but quite significant – errors in interpreting economic statistics committed by people such as Ta-Nehisi Coates, Ed Baptist, and Carol Anderson .
Steve Hanke explains that Trump is clueless about trade . (I pick one small nit with Steve’s excellent essay: when a country runs a trade deficit, the accompanying excess of domestic investment over domestic savings really is not a “defect,” although that is the term that is conventionally used. The term “deficit” suggests a shortfall. But the “deficit” in “trade deficit” is not a shortfall. Because the amount of capital in the world, or in any country, isn’t fixed, the excess of domestic investment over domestic savings can be – and in the U.S. is to a large extent – simply the net amount of additional investment that foreigners choose in make in the domestic economy.)