A sobering set of statistics
More on:
2004 US exports of debt securities: $890 billion
2004 US imports of debt securities: $2.3 billion Balance of trade in debt securities: $888 billion
2004 US exports of goods and services : $1146 billion
2004 US exports of goods: $808 billion. The US clearly has a comparative advantage selling debt to the world, and it is currently exploiting that comparative advantage to the maximum extent possible ...
More on: