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Pastimes : Ask Mohan about the Market
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To: Jack Clarke who wrote (8654)11/20/1997 10:46:00 AM
From: Tommaso  Read Replies (2) of 18056
 
Jack,

I don't understand how the US can run these trade deficits year in and year out without penalty either. Unless the dollar is so solidly established as a store of value and a medium of ecxchange that we can simply serve as banker to the world and supply its currency.

Sometimes I think it's like New York City. A lot of my money seems to pass through there, in the process helping to support a vast conglomeration of people and institutions that I have no particular fondness for but cannot do without.
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