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The Forum > Article Comments > Why deficits donít matter Ė for now > Comments

Why deficits donít matter Ė for now : Comments

By Sukrit Sabhlok, published 30/12/2004

Sukrit Sabhlok argues that for now the US deficit is not going to be a problem.

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"The continued success of industrialised economies such as the US is more likely to reside in whether government policy fosters growth, boosts exports and improves productivity, than on - for instance - the standard currency of exchange remaining dollars instead of euros."

Best selling, most profitable US export in past century was US Dollar. It was particulary successful at the time when it had virtual monopoly as a "standard currency". That has largely contributed to the illusions of greatness of US economy. Things have started changing in the past few decades and some illusions are fading. Value of US dollar and greatness of "american way of life" among them. They don't sell all that well any more.

Posted by Dejan, Friday, 31 December 2004 12:28:59 PM
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