trade deficit

House of Cards

During the Clinton years much was said about "bridging the digital divide." On Charlie Rose recently Leo Apotheker, CEO of German software giant SAP referred to enterprise-wide computer networks as a "nervous system." In listening I drifted back to the time just before the event of 9-11. What if government computers (at C.I.A., F.B.I., etc.) had all been able to "talk" and share/analyze/intelligate aggretized data? What if there had been an interchangeability and exchangeability? Aren't these largely the kind of "hi-tech" public works projects we need in today's economy?

Trade Matters: The U.S. Borrows $2.14 Billion per Day(net)

Trade matters: the US is forced to borrow $2.14 billion per day (net) from abroad even in the middle of the worst financial crisis since at least the 1930s


Today’s Dept. of Commerce report on US losses in global business during February again provides a window into the remarkable power of the debt industry, their “expert” retainers and a largely clueless and/or extremely cynical media.

The US is in a financial crisis that is finally being admitted to be the worst since at least the 1930s.

Today’s report confirms that in the 29 days of February, the US spent $62.3 billion more on foreign-made goods and services than it was able to earn from all exports of US-made goods and services. That is, even with the US in financial crisis, it was forced to borrow – net -- another $2,145,000,000 every single day in February. This represents an accelerated pace of daily net borrowing (or asset sales) from January.