Friday, April 08, 2005

for happier news, flip monitor on side

You Need Us and We Need You
America’s 12-month current-account deficit now stands at $665.9 billion, or 5.7% of GDP. Since a negative balance in the current account must be complemented by a positive balance in the capital account, this means that foreign funds are streaming in. America is mortgaging its future to pay for current spending.

Thanks FTD for the link. The chart from the article is very disturbing, unless you believe the sky is the limit.


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