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Why deficits don’t matter – for now : Comments
By Sukrit Sabhlok, published 30/12/2004Sukrit Sabhlok argues that for now the US deficit is not going to be a problem.
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Posted by Dejan, Friday, 31 December 2004 12:28:59 PM
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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.