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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory

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From: russwinter	1/12/2005 8:36:33 AM
	of 110194

Another opportunity to print more Old Maid cards: Associated Press U.S. Trade Deficit Soars to All-Time High Wednesday January 12, 8:33 am ET WASHINGTON (AP) -- America's trade deficit soared to an all-time high of $60.3 billion in November, reflecting record levels for imports of everything from oil and consumer goods to farm products, the government reported Wednesday. The Commerce Department said the November deficit was up 7.7 percent from an imbalance of $56 billion in October, which had been the previous monthly record. The new record caught private economists by surprise. They had been forecasting a slight narrowing in the November trade gap. The trade deficit through November totaled $561.3 billion, far above the previous annual record of $496.5 billion set in 2003, and put the country on track to record a trade imbalance topping $600 billion when the December figures are added. The November deficit reflected record imbalances with a number of countries including Canada, South Korea and Russia. The largest deficit as usual was with China, although the $16.6 billion gap was down slightly from October.

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