Current Account not so bad?

[John K. Taber]

The BOG has a study claiming that US ownership of foreign stock
for example is undercounted, and that foreign ownership of US
bonds is overcounted; reported in the WSJ 4/16 "US Global Debt
May Be Smaller, Fed Study Finds." Hence the Current Account
debt is less than figured.

The report is at 
http://www.federalreserve.gov/pubs/ifdp/2002/722/ifdp722.pdf

Any significance? Anybody?

--
John K. Taber

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