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Politics : Dutch Central Bank Sale Announcement Imminent? -- Ignore unavailable to you. Want to Upgrade?

To: Jamey who wrote (22454)	2/27/2005 9:01:58 PM
From: sea_urchin	Read Replies (1) \| Respond to of 81114

James > The U.S. must now import $5 billion in foreign capital a day merely to finance the current accounts deficit >>The fact is that, up until a few months back, financial experts estimated that the United States needed to bring in approximately $2-2.5 billion a day to keep U.S. accounts in balance. If Bergsten's figures are correct, that figure has doubled!<< Last year it was $1.5bn and recently I've read about $2bn (as the quote says), but this is the first time I've heard about $5bn. Maybe Bergsten is correct? He's no fool. If he is right, then all the savings in the world can't cover the debt requirement and the US is in an imminent crisis. In fact, a crisis which devaluation of the dollar will not solve. And, if there is a massive devaluation, then there will be a world-wide crisis. Meanwhile, even if the crisis doesn't happen soon, "ordinary" Americans are being impoverished all the time and are soon to lose their state-sponsored social benefits. For Joe SixPack the outlook is not rosy.