When It’s a Clear Day and You Can’t See GM
A country that doesn’t make anything doesn’t need a financial sector as there is nothing to finance. … atios of general government debt to GDP in the industrialized world….Massive US trade deficits have been financed by giving up US assets to foreigners, who now own the income flows as well. … Budget deficits from 6 years of pointless wars and from unsustainable levels of military spending have helped to flood the world with dollars and to drive down the d ollar’s exchange value….
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