"Thanks to aggressive fiscal and monetary stimulus, the United States is consuming about 6 percent more than it produces, resulting in a $600 billion trade deficit last year. To finance this extravagant overconsumption, America is in effect selling off claims on its future income, in the form of U.S. Treasury securities that are purchased by the rest of the world."
http://www.washingtonpost.com/wp-dyn/articles/A43145-2005Jan27.html?referrer=emailarticle
No comments:
Post a Comment