I keep reading where the Chinese are flaying us in trade.  Balance of trade deficits keep going up, and the Chicken Littles scream that the sky is falling. Seems to me balance-of-trade worries are misplaced.  Supposedly, we got equal value for what we spent; it's just easier to quantify the dollars we put up than the goods they put up. Example: Who got more out of the deal when you bought your car?  All you got was a car, but the dealer got, say, $40K.  Is your balance of trade with the dealer out of whack?  Not at all.  He got money; you got a car.  Fair trade.  Both sides got what they wanted at an agreed on price. Meanwhile, a guy the next town over is selling solar equipment at $40K per average house.  He bought a new car from the car dealer, but the car dealer didn't return the favor — he didn't buy solar equipment, even though the cost of solar in that specific...(Read Full Post)