Volatility Continues On Wall Street
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May 2008$59,790 million trade deficit.
This means, that America bought $59,790 MILLION MORE in goods in the month of May alone, than it sold. If you buy more than you sell, then you're losing money. Given America's trillions in debt, this is not unlike a runaway credit card spending spree. Your card is completely maxed, or at least reaching its maximum, because creditors are starting to demand payment and freeze credit. You've chosen to borrow money to pay them off - that can't last either.
TheSharpenedPen 3 years ago
Credit system? Listen America, what you need to do is MAKE STUFF!!! China makes stuff, why not America? Your trade deficits are extremely worrisome, as is your mounting debt, which likely couldn't be paid down in several generations time. Everything is being inflated now like a bubble and the financial overhaul they're talking about, is replacing the US dollar as the reserve currency. This will be devastating at a time of record debts, stretched military commitments and huge trade deficits.
TheSharpenedPen 3 years ago