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Bruce
A wonderful point by point refutation. I have a quarrel with one point,
however, regarding the trade deficit. I agree with what you wrote, but
it seems to ignore the vulnerability of the US economy to events beyond
its control. IOW, if the economies of Japan and Europe begin to improve,
the US could deteriorate rapidly.
Regards
DanG
Bruce B wrote:
> trade deficit at astonomical levels.
Totally untrue. US trade statistics are also heavily flawed, but even
more
important is the fact that all this number shows is how horrible the
investment environment overseas is relative to the US. It is a sign of
strength, not weakness. Some of the biggest trade surpluses the US ever
had
came in times of a terrible domestic economy.
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