Show u I and Y 51 J j- j i r rAre r. r J x Are Imports B Bad d For America 1 rJ r- r J By Mark Haslem One of the most common economic fallacies that people make is that imports are bad for Americas America's economic health The truth is that imports are good for America perhaps not for US U.S. Steel or Chrysler but for a much larger group the US U.S. con con- sumer The idea that imports cost jobs is just as fallacious as the concept that exports create them When we purchase products from our trading trading trading trad trad- ing partners autos auto's for instance we pay them dollars in exchange for their autos Now these dollars have ave to be converted into currency that Is is usable in the exporting country To this end they have two choices either they can make purchases purchases purchases pur- pur dollars that chases with those can t f be sold for their own currency yen for instance back home Or they can pass the dollars on trading them to other countries that have yen from their own exports and wish to trade these for dollars that they can spend in America Either way the dollars that we paid for the autos with are going to end up being being being be be- ing spent in America Providing plenty of employment in the Engineering Computer Film and various other American industries that foreigners love to spend their dollars on The one other option that our trading partners have with the dollars they receive for their autos is to keep them in dollar form and invest them in America They can take those dollars and buy stocks bonds government securities Vi l i t. t A jt t 44 J t. t i r j j etc This increases our nations pool of capital the effect ct et which J is to lower interest rates It is common common common com com- mon knowledge that law interest rates are good for an economy A funny thing about people who hate imports is that they're almost invariably enthused about exports Exports are simply a means whereby we can purchase products products products pro pro- ducts from abroad or else invest abroad They are not the job creating gravy train that many people think they are So the next time you are going to make a purchase purchase purchase pur pur- chase dont don't feel guilty about all of this buy American nonsense just look at atthe the product and its it's value If you do buy a foreign product content content content con con- tent yourself with the knowledge that youre you're helping Americas export export export ex ex- ex- ex port industries N 1 r 4 T c |