Adios to the T-Bill?

Doug Henwood dhenwood at panix.com
Fri Apr 6 09:14:40 PDT 2001


Ian Murray wrote:


>But because the projected surpluses are large and have a momentum of their
>own, it could happen a lot faster than many think.

Or it may not happen at all. The U.S. has never run substantial surpluses for more than a few years in a row, and in the five or so times it did, recession or depression followed. As far as I know, no other First World country has ever run a substantial string of surpluses over the last 40-50 years, and maybe more.

Doug



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