[lelio]

This has led to a massive current account deficit of more than US$500 billion (S$850 billion) - a far cry from 10 years ago, when the US enjoyed a trade surplus of US$82 billion.

According to some on FR this is a sign of the US's growing wealth -- that we can afford to import more than we can create ourselves. They don't seem to follow this to the next step: that we're beholden to foreign governments that buy our debt.

[Beck_isright]

" They don't seem to follow this to the next step: that we're beholden to foreign governments that buy our debt."

I thought a foreign perspective on this subject was overdue. And it's quite logical. But too many on this board keep believing the steaming pile which is emitted from the "don't worry be happy" crowd. At what time will this price be paid by Joe six pack is what should be addressed. But in the mean time, let's all just get liquored up like that kicker from the Colts. Don't worry....be happy.....be a bot....don't speak ill...

[expatguy]

The disaster is coming sooner than you think and that is perhaps why you see more frequent reports on this.

I live in Malaysia and have intimate knowledge of what the Asian banks are discussing.