Jun. 2002 – Investing Abroad
Our parent, AIER, recently reported on misapprehensions over the United States capital-account surplus and corresponding current-account deficit, which have persisted since 1982 (see Research Reports, No. 11, June 10, 2002). Critics assert that the current situation reflects foreigners paying for our profligacy, but they miss the point. The capital surplus is very large because the […]
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