Friday, September 7, 2007
Where do you get your money?
Over and over in Skypeland, I hear people that have not got the slightest idea about where their money comes from. Arabs in countries that export oil think that the countries that buy their oil are "stealing" the oil. Chinese do not understand the money coming into their country is coming from the West and other countries from buying Chinese goods. It is incredible to me how little these people seem to understand simple economics. Without trade and without exports, China would have no money, and the Arab countries would have no money. Their standards of living would plummet. No one is stealing from them; they are getting money by selling what they can produce. It is that simple. If you don't trade, you will not have money.
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