Monday, May 19, 2008

"With the help of the overgrown U.S. financial sector, the United States of 2008 is the world's leading debtor,…

posted by Bill Arnett @ 10:54 AM Permalink

has by far the largest current-account deficit and is the leading importer, at great expense, of both manufactured goods and oil. The potential damage if the world soon undergoes the greatest financial crisis since the 1930s is incalculable. The loss of global economic leadership that overtook Britain and Holland seems to be looming on our own horizon.
Quoted from a NYT Editorial. Looks like the Big Boys of Finance are finally waking up and realizing that what they're smelling isn't coffee.

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