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What does "living dangerously beyond our means" mean to a fiat currency-issuing nation like the United States? a single unemployed person may not like imports, but in aggregate imports are good and exports a cost. When we import goods and services we are importing another country's labor and resources and when we export we are exporting our work and resources. And we pay for imports with green pieces of paper with pictures of dead presidents on them that we can make at will. The exporting nations then chose to save the dollars doing actually zero god for the citizens of their countries. They can't even sell their savings for anything except dollars in return. The United States is very fortunate we can easily afford to import work and resources which raise all of our standard of living. 




The editorial staff of The Economist is composed on economic Neanderthals. 


I though they (Neanderthals) were extinct.


Ooops!  Wait a minute - that can't be true.  Economic Neanderthals are in control of the U.S. government... and the UK... and the EU.  Extinct?  Not yet.