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Post by blueneck on Mar 16, 2007 17:06:23 GMT -6
Buried in a small blurb in the 3/15 USA today Money section
US trade deficits set 5th straight year of record highs. The current trade deficit is now 6.5% of GDP.
Comrade Buchanan made his New year prediction on McLaughlin that by the end of 07 we will see 8% of GDP.
This should be a major warning blast. And further justification for a trade "safety valve" law similar to what Dorgan and a few other senators like Bayh and Webb have suggested.
The other tidbit in the same article was that for the first time since 1929 we now have a foreign investment deficit as well, which means that more foreign investment is leaving the country than coming in.
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Post by unlawflcombatnt on Mar 17, 2007 3:59:13 GMT -6
I heard the same thing on Lou Dobbs, as well as reading this somewhere in Yahoo News.
I can't remember which commentator or analyst said this, but anything over a 5% trade deficit is unsustainable and indicative of a collapse in the near future. At 6.5%, we are far beyond that 5% cutoff. And if we get to 8%, as suggested by "comrade" Buchanan, we're going down the drain.
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