Yes, 2004 should prove to have been our best year ever for exports, beating out even 2000.
Here are the Census Bureau's numbers for the first 11 months of 2004, and for all of 2000:
Month | Exports | Imports | Balance |
---|---|---|---|
January 2004 | 62,660.0 | 111,033.0 | -48,373.0 |
February 2004 | 65,898.0 | 114,453.0 | -48,555.0 |
March 2004 | 68,474.0 | 118,405.0 | -49,931.0 |
April 2004 | 66,898.0 | 118,714.0 | -51,816.0 |
May 2004 | 69,631.0 | 119,891.0 | -50,260.0 |
June 2004 | 65,715.0 | 123,546.0 | -57,831.0 |
July 2004 | 68,232.0 | 121,953.0 | -53,721.0 |
August 2004 | 68,846.0 | 124,712.0 | -55,866.0 |
September 2004 | 70,181.0 | 123,869.0 | -53,688.0 |
October 2004 | 70,128.0 | 128,998.0 | -58,870.0 |
November 2004 | 67,467.0 | 130,368.0 | -62,901.0 |
TOTAL | 744,130.0 | 1,335,942.0 | -591,812.0 |
Month | Exports | Imports | Balance |
---|---|---|---|
January 2000 | 62,543.0 | 93,900.0 | -31,357.0 |
February 2000 | 62,409.0 | 95,901.0 | -33,492.0 |
March 2000 | 63,135.0 | 99,176.0 | -36,041.0 |
April 2000 | 63,814.0 | 99,242.0 | -35,428.0 |
May 2000 | 63,632.0 | 99,651.0 | -36,019.0 |
June 2000 | 65,997.0 | 103,019.0 | -37,022.0 |
July 2000 | 65,711.0 | 103,349.0 | -37,638.0 |
August 2000 | 67,763.0 | 103,665.0 | -35,902.0 |
September 2000 | 67,562.0 | 106,396.0 | -38,834.0 |
October 2000 | 66,845.0 | 106,056.0 | -39,211.0 |
November 2000 | 66,691.0 | 103,993.0 | -37,302.0 |
December 2000 | 65,816.0 | 103,673.0 | -37,857.0 |
TOTAL | 781,918.0 | 1,218,021.0 | -436,103.0 |
OK, lets imagine that your household income was $74k a year, but you spend $133k each year.
What eventually happens?
Year after year, your debt builds up till, finally, one day, creditors say, 'Whoa! Pay up on what you owe before we sell you any more credit!'
That is when the panic on the currency may start.
Our economic debt is about 80% of our income.
That is a disaster long due.