Mish's Global Economic Trend Analysis Message Board

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Strategies & Market Trends : Mish's Global Economic Trend Analysis

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To: mishedlo who wrote (85505)	9/17/2008 5:58:23 PM
From: SouthFloridaGuy	5 Recommendations Read Replies (2) of 116555

There is nothing that can be done. We shouldn't have run up the biggest current account deficit known to man. What we are seeing in markets is clearly a manifestation of the required resolution: a devaluation of the dollar and a massive recession to curb imports just like any bannana republic. Just looking at the chart of Current Account Deficit / GDP, these deficits clearly began after Vodoo Economics was put in place and we were able to continue with it for so long because there was no formidable challenger to US Supremacy. We have to take our medicine now.

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