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Politics : View from the Center and Left
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To: TimF who wrote (53401)3/13/2008 8:21:09 PM
From: neolib  Read Replies (1) of 542812
 
Ouch, Russel Roberts thinks that us exporting IOU's and foreigners exporting their goods to us is a nice, stable, long term situation.

One wonders if that fine gentleman might have learned anything from liar loans in RE, all those people happy to sign IOU's and all those banks happy to extent credit, and all those investors happy to buy it. Surely it could of, should of gone on forever! I note his article was 2006, so perhaps he was not preceptive enough to see how that one would unwind. He does not strike me as preceptive enough to see how the trade imbalance will unwind either. I did note with some amusement his reference to foreigners finding us an attractive place to invest. Of course, he didn't see the last 6 months of the dollar "getting more attractive" for them, so I should excuse him.

Startlingly enough, imbalances do tend to correct over time, OR their true effects become obvious.
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