The real issue facing the US and the European bankrupt countries is not the budget deficit. The crucial problem facing these countries is their trade deficit.
Why? Because they have to borrow to finance their imports. Furthermore, it reflects a major deficiency in competitiveness and their lack to produce wealth to share among the population.
But no one talks about it.
George Dagnino, PhD
Editor, The Peter Dag Portfolio. Since 1977
2009 Market Timer of the Year by Timer Digest
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