[lbo-talk] Niall Ferguson bewails US imperial decline

[Doug Henwood]

On Sep 13, 2006, at 4:49 PM, Charles Brown wrote:


> I think Hudson's thesis is that Japan, China etc. are financing  
> both the
> balance of payment deficits and the budget deficit.

That's not Hudson's thesis, that's just a fact. But the budget  
deficit is not that large by historical standards. The current  
account deficit is very large.

Doug