US current account deficit

Fri, 20 Jun 2003 09:49:00 -0400
/economics

This piece about the current account deficit has been all over the blogosphere recently. It’s position reminded me of one of the things this guy/crank has been saying for years.

The idea that imperialism has a tendency to financially overstretch is comforting, and has historic precedence, but I don’t have the economic understanding to know whether it is correct as presented.

The Economist has this which gives a slightly more credible correction scenario.