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Saving Greece, Europe and the United States -- we're published in today's American Thinker
Howard Richman, 5/24/2012

Here is a selection:

It is not an accident that the Northern European peoples have trade surpluses and the Southern have deficits. Cultures where winters are longer and colder emphasize saving in order to survive. And so with interest rates the same across the eurozone, the Northern Europeans saved and the Southern Europeans spent, and, inevitably, the Northern Europeans loaned money to the Southern Europeans so that the Southern Europeans could buy the Northern products. The result was trade surpluses in the North and trade deficits in the South.

But loans from the North to the South can go on only so long. Eventually, the South gets too deeply in debt to qualify for more loans and can no longer afford to buy more products than it produces.

Follow the following link to read it:

 http://www.americanthinker.com/2012/05/saving_greece_europe_and_the_united_states.html

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    Wikipedia:

  • [An] extensive argument for balanced trade, and a program to achieve balanced trade is presented in Trading Away Our Future, by Raymond Richman, Howard Richman and Jesse Richman. “A minimum standard for ensuring that trade does benefit all is that trade should be relatively in balance.” [Balanced Trade entry]

    Journal of Economic Literature:

  • [Trading Away Our Future] Examines the costs and benefits of U.S. trade and tax policies. Discusses why trade deficits matter; root of the trade deficit; the “ostrich” and “eagles” attitudes; how to balance trade; taxation of capital gains; the real estate tax; the corporate income tax; solving the low savings problem; how to protect one’s assets; and a program for a strong America....

    Atlantic Economic Journal:

  • In Trading Away Our Future   Richman ... advocates the immediate adoption of a set of public policy proposal designed to reduce the trade deficit and increase domestic savings.... the set of public policy proposals is a wake-up call... [February 17, 2009 review by T.H. Cate]