> Is this, in fact, the central idea: that the constant
> need for foreign capital to fund the ever expanding
> deficit is the Achilles heel?
>
> If so, I'd be interested to read a decscription of the
> weaknesses of this idea.
It is also the weakness of the large areas of the world that they depend on the US market for their growth. If it were not for expanding US deficit, the growth elsewhere would have been slower or even negative.
Ulhas