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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory
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To: KyrosL who wrote (4207)12/31/2003 12:07:19 PM
From: Jim Willie CB  Read Replies (1) of 110194
 
we may be in agreement
we require foreigners to finance lion portion of:

1. current account deficit for trade gap
2. treasury issuance for federal deficits
3. agency debt for mortgages

total credit needs are $5 billion per day
of which a growing percentage is provided by foreign sources

I hear they cover 45% of federal TBond supply
I hear a similar pct covers agency debt
what foreigners dont cover on consumer debt, Fed easy policy does

just $1.5B/day from foreigners seems a bit low
but I agree with your implication that the current account deficit might constitute the bottom line

/ jim
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