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A Trip Down the Road to Squanderville
Although still seen as the world’s economic superpower, the United States has found itself with a myriad of problems: Skyrocketing federal debt, growing annual budget deficits, an almost nonexistent personal savings rate, and the dubious honor of being the country with the largest current account deficit, of which trade makes up the largest part.
A trade deficit occurs when you are importing more than you are exporting — in other words, you are consuming more than you are producing. So the next time you are at Wal–Mart (WMT) or Target (TGT), take a look around. Just about everything you can purchase there…
25Nov2008 | Money Morning | 1 comment | Continued
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