End of the empire
Submitted by kc on Mon, 2006-12-18 15:09
in
Not only are we running record trade deficits, but now foreigners own more of America than we do of their countries:
The deficit in investment flows - meaning that the United States is now having to pay foreigners more than Americans' earn on their overseas investments - rose by $1.6 billion to an all-time high of $3.8 billion.
Economists expect that figure to climb even higher in coming years representing the growing size of U.S. assets now in the hands of foreigners, reflecting all of the trade deficits run up over the past three decades.
