U.S. prospects

Doug Henwood dhenwood at panix.com
Tue Sep 28 09:31:27 PDT 1999


The 7% deficit figure refers, I think, to private nonfinancial borrowing of all kinds. Though I just looked at the latest flow of funds numbers, and the combined borrowing of households and nonfinancial business has averaged 8% of GDP so far this year - not a record, but on a par with the "reckless" 1980s.

Doug



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