Exorbitant Privilege No More

Here’s another smoking gun. The US has not posted an annual current account surplus since 1981. During the subsequent 41 years cumulative deficits totaled $15 trillion, culminating in a $1 trillion deficit in 2022 alone. But this isn’t the free market at work. The massive accumulation of current account deficits depicted in the chart below […]
You must be a Stockman's Corner member in order to view this post, subscribe to Monthly Subscription, Quarterly Subscription or Annual Subscription.