[lbo-talk] Bernanke

Robert Wrubel bobwrubel at yahoo.com
Sat Sep 15 11:24:38 PDT 2007


What are "nontraded goods and services"? Everything except manufacturing? BobW --- Doug Henwood <dhenwood at panix.com> wrote:


> [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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