Since the 1980s, the U.S. trade deficit has been a constant force in the American economy, rising more some years than others, while corporate bond yields have been generally falling. The flow of funds table for “Rest of the World” (F.107) shows that the excess of imports over exports has resulted in an increase in […]

In a rather remarkable article published by Wall Street Week and Fortune Magazine, “Why I’m Not Buying the U.S. Dollar“, Warren Buffett, the Sage of Omaha, claims that the trade deficit will lead to foreigners taking over the United States and that this is a very, very bad thing. He sees the country’s “net worth” […]

William D. Novelli, the well-paid CEO ($689,000) of the largest U.S. lobbying group for the elderly, AARP, has come out against President Bush’s “private accounts” plan for reforming social security. This has raised cries from conservatives that AARP is nothing more than a front for the Democratic Party. However, a few years back, AARP supported Bush’s […]