trade deficit

House of Cards

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During the Clinton years much was said about "bridging the digital divide." On Charlie Rose recently Leo Apotheker, CEO of German software giant SAP referred to enterprise-wide computer networks as a "nervous system." In listening I drifted back to the time just before the event of 9-11. What if government computers (at C.I.A., F.B.I., etc.) had all been able to "talk" and share/analyze/intelligate aggretized data? What if there had been an interchangeability and exchangeability? Aren't these largely the kind of "hi-tech" public works projects we need in today's economy?

Trade Matters: The U.S. Borrows $2.14 Billion per Day(net)

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Trade matters: the US is forced to borrow $2.14 billion per day (net) from abroad even in the middle of the worst financial crisis since at least the 1930s

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Today’s Dept. of Commerce report on US losses in global business during February again provides a window into the remarkable power of the debt industry, their “expert” retainers and a largely clueless and/or extremely cynical media.

The US is in a financial crisis that is finally being admitted to be the worst since at least the 1930s.

Today’s report confirms that in the 29 days of February, the US spent $62.3 billion more on foreign-made goods and services than it was able to earn from all exports of US-made goods and services. That is, even with the US in financial crisis, it was forced to borrow – net -- another $2,145,000,000 every single day in February. This represents an accelerated pace of daily net borrowing (or asset sales) from January.

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