December 14, 2005
In Hock to the World
The US exported $107.5 billion in goods and services in November. Well, at least we are exporting something as we go into hock: imports were a tidy $176.4 billion. Brad DeLong comments:
Each month the trade deficit gets bigger makes it more and more likely that we will have serious macroeconomic trouble when America's savings and investment flows start to come back into balanceKash has more details that show the China is not the only country carrying a large amount of US debt.
Are we watching the last wimper of a superpower?
