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by Walter E. Williams

When we discuss international trade and balance of payments, there are two types of accounts. There is the current account, which includes goods and services imported and exported and receives the most political attention. In 2016, the American people imported $479 billion worth of goods and services from Chinese producers, and we sold $170 billion worth of goods and services to Chinese customers. That made for a $309 billion current account deficit. In other words, we purchase more goods and services from Chinese producers than Chinese consumers purchase from American producers.

How much of a problem is it when there is a deficit, or a negative imbalance, on current accounts? Let's look at it.

I buy more from my grocer than he buys from me. Our Department of Defense buys more from General Dynamics than General Dynamics buys from our Department of Defense. With just a bit of thought, one could come up with thousands of examples in which one party buys more from another than that party buys from it -- creating deficits in current accounts. But a current account deficit is always offset by a surplus somewhere else.

That somewhere else is known as the capital, or financial, account. This account consists of direct foreign investment, such as the purchase or construction of machinery, buildings or whole manufacturing plants. The capital account also consists of portfolio investment, such as purchases of stocks and bonds. In our capital account, the U.S. has a huge surplus with China. That means money is flowing into our country from China. In other words, Chinese people are investing more money into the U.S. -- in the forms of home and factory purchases, stocks, and bonds -- than Americans are investing in China. Of necessity, the deficit that we have with China on our current account, ignoring timing issues, must equal the surplus we have with China on our capital account.

It turns out that foreigners own $30 trillion worth of U.S. assets, such as stocks, Treasury bonds, manufacturing plants and real estate. One of the reasons that foreigners hold so much U.S. capital is that our country is one of the world's most attractive places to invest. Secondly, our capital markets, unlike our goods markets, are open to foreigners. Foreigners can buy and sell any U.S. asset in any quantity, except in cases in which national security is an issue. One of the troubling aspects of foreign confidence in America is that foreigners invest so much in U.S. Treasury bonds. That in turn gives the U.S. Congress greater latitude to engage in profligate spending. Japan owns $1.1 trillion worth of U.S. Treasury bonds, and China owns $1 trillion.

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Press Release

Blue Star Group, which operates The Blue Star, La’au’s Taco Shop, NOSH and Principal’s Office and Old School Bakery inside the Ivywild School, is proud to announce the formation of a new collaborative partnership with Nor’wood Development Group to develop new and unique culinary experiences for the 100 block of South Tejon in downtown Colorado Springs. This new venture will incubate culinary ideas for restaurant concepts that curate unique and exciting culinary adventures supported by extraordinary customer service.

Blue Star Group has been dedicated to building, enhancing and leading the culinary landscape in the Pikes Peak Region for more than 20 years. Blue Star Group will bring their creative talents, culinary expertise, and excellent execution to the joint venture. Nor’wood Development Group, a community developer and neighborhood company, will provide the venture with space to operate and has commissioned Gensler to lead the creative direction for the venture’s interior branding and design as part of an extensive and well-appointed renovation to Plaza of the Rockies and Alamo Corporate Center.  

“In the coming months, we will embark on a journey to create memorable dining experiences like no other found in the Pikes Peak Region”, said Joseph Coleman, Owner of Blue Star Group.  “We want to create an array of options for guests, incubate ideas for young promising chefs with the goal of elevating the culinary ecosystem.  There is no better place to do this than in the heart of downtown Colorado Springs and no better partner to be doing this with.”

“I am thrilled to begin this new journey with Joseph and his team of chefs and food entrepreneurs”, said Chris Jenkins, President of Nor’wood Development Group.  “I believe that downtown should be the epicenter of culinary community.  We are diligently working to create a new downtown destination where top-notch cuisine prepared by the next generation of food entrepreneurs will transform the local culinary scene, propelling us closer to the goal of becoming the #1 middle-weight city in the nation.”

 

interior of Nosh at 121 S. Tejon Street


In preparation for this new venture, Blue Star Group will closed NOSH on Saturday, April 29, 2017, located at 121 South Tejon Street, in order to pour their focus and energy into introducing this new restaurant incubator concept to downtown Colorado Springs and the Pikes Peak Region.


ABOUT BLUE STAR GROUP: The Blue Star, opening August 7, 1995 in Old Colorado City, fulfilled Joseph Coleman’s childhood dream. Quickly outgrowing the first location and moving three years later to the current location at 1645 South Tejon Street, The Blue Star has been at the center of the culinary scene in Colorado Springs for over 20 years. Adding to the Blue Star Group family NOSH and La’au’s Taco Shop opened in 2007, bringing diversity and new culinary experiences to the local community. In 2013, partnering with Bristol Brewing Company, Blue Star Group purchased and developed the Ivywild School, adding Principal’s Office and Old School Bakery to the family of restaurants. Blue Star Group has a passion for excellence, delivering an unparalleled guest experience through outstanding cuisine paired with exceptional hospitality and heartfelt connections.

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Press Release (VisitCOS.com)

Colorado Springs has crafted a new way to entice travelers to experience the grandeur of the Pikes Peak region. On tap for a May 1st launch is a new digital passport that highlights the destination’s diverse craft beverage scene. The passport showcases unique beverage companies that carefully concoct their spirits and guest experiences.
 
From microbreweries to moonshine, visitors can sip and savor their way through the area using a downloadable Crafts & Drafts Passport featuring 14 libation locations. Patrons who collect at least five codes from the locations can exchange their passport for a free Crafts & Drafts T-shirt, as well as be entered to win a grand prize getaway in Colorado Springs.
 
A portion of the campaign is funded by a Colorado State Tourism Office marketing grant. The campaign will run through the end of July and incorporates a sweepstakes with a grand prize trip to Colorado Springs, weekly social media giveaways and a behind-the-scenes look at some of the area’s most popular 21+ choices like Triple S Brewing Company and 3 Hundred Days of Shine.
 
Colorado continues to make its mark on the adult beverage industry with more than 284 craft breweries state-wide and an economic impact of $2.7 billion.
 
Learn more about these delicious pours and sweepstakes sponsors, and download a passport at VisitCOS.com/Crafts-Drafts.

Go directly to the map download at http://www.visitcos.com/food-drink/crafts-and-drafts/passport-map
 
About Colorado Springs, CO
Founded as a resort town in 1871, Olympic City USA has drawn travelers from around the world for decades offering unrivaled natural beauty, endless blue skies, a mild climate and more than 55 man-made and natural attractions. Home to iconic landmarks such as Pikes Peak – America’s Mountain, Garden of the Gods Park, the Colorado Springs Olympic Training Center and U.S. Air Force Academy, the city and surrounding region is a popular destination for families, outdoor enthusiasts and couples.

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Press Release (City of Colorado Springs)

Mountain Metropolitan Transit recognizes National Military Appreciation Month by offering active duty military members free rides on all fixed-route city buses for the entire month of May. Active duty members of the U.S. Army, Navy, Air Force, Marines, Coast Guard, National Guard and Reserves must present the bus driver with a current military ID, or wear an appropriate uniform at the time of boarding. Mountain Metro acknowledges the bravery, sacrifice, and commitment of our local armed forces personnel.


Mountain Metropolitan Transit provides local fixed-route bus service and Metro Mobility ADA paratransit service for Colorado Springs and the Pikes Peak region. All buses use clean diesel technology and are wheelchair-lift equipped. Mountain Metropolitan Transit also provides other services such as Metro Rides’ ridesharing, vanpool, and bicycling programs. For added convenience, there are bike racks on all buses for riders who want to utilize the bike-n-bus program. For additional information regarding Mountain Metropolitan Transit please visit www.mmtransit.com, or call (719) 385-RIDE (7433).

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by Ed Duffy

Clearview Foodmart at the corner of Yucatan and Hancock had been vacant for several years. But for the past several months, Karanjeet Singh and family have been working hard at getting it back up and running. The new owners kept the name, added some tasty take-out and opened for business a few weeks ago.

In addition to your standard convenience store fare, Clearview Foodmart also features Champs Chicken, take out foods, including chicken tenders, wings, fish, shrimp, dippers, Champstix, premium sandwiches and chicken fried chicken. they also have a variety of dipping sauces, biscuits and sides; mac & cheese, mashed potatoes, corn, red beans and rice and potato wedges. You can order a la carte or in party packs.

You'll find Clear View Foodmart at 4815 Yucatan Dr,. You can call them at 719-390-3510. To learn more about Champs Chicken visit www.ChampsChicken.com