Re: Niall Ferguson bewails US imperial decline
On Sep 13, 2006, at 4:49 PM, Charles Brown wrote:
I think Hudson’s thesis is that Japan, China etc. are financing
both the balance of payment deficits and the budget deficit.
That’s not Hudson’s thesis, that’s just a fact. But the budget
deficit is not that large by historical standards. The current
account deficit is very large.
Doug