U.S. trade deficit sets another record Last Updated Fri, 10 Feb 2006 10:06:10 EST CBC News The U.S. trade deficit soared to an all-time high of $725.8 billion US in 2005, up 17 per cent over the previous year, as Americans imported record amounts of oil, food, cars and other consumer goods. The deficit with Canada hit an all-time high, as did America's deficits with China, Japan, Europe, the OPEC countries and Latin America. It's the fourth consecutive record year for the United States, raising more concerns about President George W. Bush's trade policies. FROM JAN. 18, 2006: Buffett warns of turmoil with U.S. trade deficit The country has lost nearly three million manufacturing jobs over the past five years, while its debt has risen to levels that concern many economists. Billionaire investor Warren Buffett warned last month that the U.S. trade deficit is a bigger threat to the domestic economy than either the federal budget deficit or consumer debt. "In my view, it will create political turmoil at some point," he said. Pretty soon, I think there will be a big adjustment." http://www.cbc.ca/story/business/national/2006/02/10/usdefi-060210.html
clinton turned reagan/bush's federal deficit into a surplus. this trade deficit is a different story.
Not to worry, nanotechnology, hydrogen economy, biotech are just round the corner Please Register or Log in to view the hidden image! Enjoy good life while it lasts. 4 millions of jobs were created since 2003. What those folks are doing? They must do something productive, don't they? Hopefully, adjustment will come in 10-15 years or later, or never.
I think Iran's oil bourse (is that what it was called?) is the US's biggest worry right now. If the rest of the world follows in their footsteps the literally worthless dollar will become....well, worthless.
there will probably be a US/Israeli strike on Iran to derail the initiation of or any progress made by the Iranian Oil Bourse. to the Bush Admin, a petro-euro is a petro-no-no.
AHHHHHHHHHHH!!!!!! *runs to broker and sell all shares* Please Register or Log in to view the hidden image! Yaba Daba! :m:
Some are new government employees making new forms for you to report information on so other new govenment employees can file them. Some are designing the latest body piercing clip. Some are ushers at the expanded sports events, etc Some are selling fast food. Some are processing the unemployment claims of the people who lost jobs to "out sourcing." As far as I know, none are doing anything that can reasonably be called "productive" or making products the rest of the world wants to buy. (That is the job of the Chinese, etc.) I.e the new US workers are doing nothing to lower the growing trade imbalance.
