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Strategies & Market Trends : Bob Brinker: Market Savant & Radio Host
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To: stock bull who wrote (7751)9/6/1998 7:35:00 PM
From: Skeeter Bug  Read Replies (1) of 42834
 
>> Politics is another wild card. The falloff in exports and rise in
imports is expected to push the U.S. trade deficit to at least $160
billion this year and as high as $200 billion in 1999. Given the
domestic priorities of Congress, that could fuel cries for a
withdrawal from international commerce and spark a protectionist
backlash.
That recalls another precarious moment in history, when the
passage of a series of steep tariffs designed to protect the U.S.
economy precipitated the collapse of a fragile world economy.
"With our absolutely skyrocketing trade deficit, I don't even
want to think about the repercussions in Congress," said Richard
Ellings, executive director of the Seattle-based National Bureau of
Asian Research. "If China devalues or the Japanese are belligerent
or recalcitrant, Congress could say, 'To heck with it,' and we could
be revisiting the 1930s." <<

ooops, i left off skyrocketing trade deficits when listing my real world issues. ;-)

still searching...
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