The February trade report is another strong signal that the American economy is being rewired in exactly the right direction. Yes, the headline deficit ticked up to $57.3 billion from January’s revised $54.7 billion. But anyone who stops there is missing the real story.
The deeper signal in this report is not weakness. It is productive transformation. America is exporting at record levels, importing the tools of future production, and relying less on the consumer-goods flood that for decades hollowed out our industrial base.
Read Full Article »
