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Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?

To: Mike M2 who wrote (60760)	5/26/1999 3:11:00 PM
From: BGR	Read Replies (4) \| Respond to of 132070

Mike, There is one striking difference when it comes to the US. The willingness of foreigners to finance the US trade deficit (which essentially is equal to the national saving rates minus investments) for a long, long time has baffled the best economists of our time since the early 80's. This should result in an inflationary pressure, but there has been none. Note that the Federal budget is in better shape now than it was in the 80's, so the situation is in fact improving. So, again, I advice you to not generalize yet, as many world-class economists have been wrong in this issue over the last 15 years. Again, I recommend reading Krugman. -BGR.