> As of the first quarter of 2001, U.S. net credit market debt was $2.2
> trillion, or a record 22% of GDP. (Well maybe it was higher in the
> 19th century, but I don't have numbers on that.) If you throw in the
> balance on stocks and foreign direct investment, it falls to 19%. In
> the late 1960s, it was about +3% - and +7% if you include stocks and
> FDI. It went solidly negative in 1982, and has been heading pretty
> much straight down ever since.
Could you remind us what year America became a net importer of capital?