Our indebtedness is quite large when you factor in foreign ownership of land.
When we ran a "surplus" I don't recall that the trade deficit "disappeared.
How much land do foreigners own? And how does their ownership of assets translate into our indebtedness?
When we ran a "surplus" I don't recall that the trade deficit "disappeared.
That's correct, so how does their accumulation of dollars and dollar assets translate into our indebtedness again?