Archive for April 9th, 2006

The Trade Deficit: America’s Best Unemployment Insurance

When the Sage of Omaha, Warren Buffet, fretted last year that the trade deficit signified that foreigners were taking over the United States, he echoed common misunderstandings about the excess of U.S. imports over exports and the growing volume of dollar assets held by the rest of the world. (See: “Warren Buffett fears foreign […]

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