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March 14, 2006

United States
The 2005 (and 2006) current account deficit

The 2005 current account deficit: $805 billion. or 6.4% of US GDP That is a bit smaller than I expected.    The q3 deficit was revised down.  Reinsurance payments were higher than initially foreca…

September 14, 2007

United States
The q2 US current account data

The q2 US current account data poses two puzzles. The first is the sharp drop off in official inflows in q2.   They fell from $150b in q1 to $70b in q2.   That fall was, incidentally, offset – mechan…

official_flows_1_q2_07

May 7, 2006

United States
Searching for the origins of dark matter

Hausmann and Sturzenegger, if nothing else, have spurred a lot of work with a catchy title and a bit of clever accounting. We now know that:Dark matter stems more from low (reported) returns on forei…

image002

September 26, 2006

United States
The deterioration in the US income balance has just begun ….

Mark Whitehouse highlighted the deterioration in the US income balance in yesterday’s Wall Street Journal.   The US paid more in interest and dividends on its external borrowing (and foreign equity i…

us_income_balance

February 22, 2006

United States
Shrinking dark matter watch

Or maybe shifting dark matter watch. Via Barry Ritholtz comes news that increasing US investment (according to Mandel) in one key intangible asset - US brands - may be yielding diminishing returns.  …