You know, your chart shows a rather dramatic deep dip in the Wealth index as the current account deficit accelerated. The rebounding phenomenon could be explained by an acceleration of housing inflation masking the real dilution of the 'wealth' being reported.
You're absolutely correct! I could be, but only if the explaining was done to someone who preferred conjecture to actual numbers from places like table B.100 in this report. Come on Paul, are you really that married to this goofy doom'n'gloom schtick?