US stock market & balance of payments

Doug Henwood dhenwood at panix.com
Mon May 24 17:54:13 PDT 1999


Henry C.K. Liu wrote:


>With an US annual trade deficit falling around $250 billion, only half of
>the $1
>trillion deterioration is caused by trade. The other half is domestic
>consumption on credit.

Yup, exactly - especially if you include buying stocks a form of consumption here!

Doug



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