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View Diary: America Turning into Japan (89 comments)

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    Except in some ways the US is in a worse position.

    Japan has had a continuous trade surplus and it has been able to borrow from its own people to fund its government deficits (at least up until now).

    The US runs trade deficits (think of them as a leak in the economy, and the US relies on foreigners to lend its government money to run deficits.

    The US is not yet as far down the path as Japan, but the path ahead looks a lot bumpier.

    "I can live with doubt and uncertainty and not knowing. I think it's much more interesting to live not knowing than to have answers which might be wrong". Feynman

    by taonow on Wed Sep 21, 2011 at 04:05:05 PM PDT

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