2007 Current Account Balances
From the CIA, ranked by country, from #1 China with a $363.3 billion surplus, to #164 U.S. with a -$747.1 billion deficit.
CARPE DIEM
Professor Mark J. Perry's Blog for Economics and Finance
Tuesday, April 15, 2008
About Me
- Name: Mark J. Perry
- Location: Washington, D.C., United States
Dr. Mark J. Perry is a professor of economics and finance in the School of Management at the Flint campus of the University of Michigan. Perry holds two graduate degrees in economics (M.A. and Ph.D.) from George Mason University near Washington, D.C. In addition, he holds an MBA degree in finance from the Curtis L. Carlson School of Management at the University of Minnesota. In addition to a faculty appointment at the University of Michigan-Flint, Perry is also a visiting scholar at The American Enterprise Institute in Washington, D.C.
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2 Comments:
I don't think I would want my country to have a surplus.
Having a debt that deep does have a large disadvantage. It means that we're tied to places normally shunned by previous policy.
Nations that provide junk will continue to do so with slave labor. Unlike the first round, there will be no quality advantage, just cheap junk. Choice will be removed as we will have that as the only (practical/available) option.
In short, that means we have no bargaining chip in national defense. That is one chip we need, and one we don't know we've already lost.
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