I’m a novice at economics and have been reading a book(which may be over my head) about this subject by Michael Pettis, he and Peter Schiff say the trade deficit matters verses Robert Murphy and John Stossel say it does not. I read this article reffered by Tom Woods.
Which sheds some light:
http://mises.org/daily/2656
What is your take on this since 2007?
Thanks,
Pat
