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Strategies & Market Trends : Classic TA Workplace
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To: skinowski who wrote (65626)2/7/2003 11:31:34 AM
From: Perspective  Read Replies (1) of 209892
 
Two words: CURRENT ACCOUNT DEFICIT. OK, so I can't count. But that's our biggest problem. Japan didn't have it. It is the single most glaring reflection of the ridiculous global dysfunctionality that exists today. It's utterly insane. How many years can you go with net imports in excess of 5% of GDP? In ten years, you've accumulated a debt of half your GDP. Actions by the authorities that sustain this disease are only worsening the day of reckoning. The only positive thing I can say about the Fed's actions are that they have at least allowed the economy to absorb the Internet bubble before dealing with the credit bubble. However, the credit bubble has gone exponential in the mean time.

BC
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