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The U.S. trade deficit rose in February 2026, as reported by the Bureau of Economic Analysis (BEA). Scott Lincicome highlighted that this increase was particularly notable when accounting for $8 billion in aberrational exports of nonmonetary gold.
According to Lincicome, these unusual gold exports had a significant impact on the overall trade numbers for the month.
Lincicome has previously commented on fiscal pressures, noting that one in five U.S. tax dollars is spent on debt service. He has also addressed policy shifts driven by commodity markets, such as the Trump administration's consideration of Jones Act revisions in response to oil price swings. These recent trade figures come amid heightened scrutiny of U.S. economic indicators.