RES: Goldman Sachs: scrap the strong dollar policy

Doug Henwood dhenwood at panix.com
Sun Aug 5 07:10:58 PDT 2001


Lawrence wrote:


>Could you remind us what year America became a net importer of capital?

There were a few quarters in the late 1970s when the U.S. was a net importer, the accounts went firmly into inflow in the third quarter of 1982, the very quarter the great bull market in stocks began (the stock-market low was in the afternoon of August 12, 1982).

Doug



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