[lbo-talk] Bernanke

Doug Henwood dhenwood at panix.com
Sat Sep 15 09:28:55 PDT 2007


[from the Bernanke speech]

Ultimately, the necessary reduction in the trade and current account deficits will entail shifting resources out of sectors producing nontraded goods and services to those producing tradables. The greater the needed adjustment, the more potentially disruptive and costly these shifts may be.



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