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Sep 29, 2009 - 5:51 AM EDT
With large continuing trade deficits, declining manufacturing and rising public debt, we cannot expect a recovery. Worse, we can expect economic conditions to deteriorate until we face the prospect of a total collapse in the United States economy. Here is why.
We all know that our trade deficits are through the roof. We import a great deal and we manufacture less and less to export. The services of our service economy are not really exportable like manufactured goods. The result of the continuing trade deficits is huge foreign debt to China and other countries. Well, so what, you might say. The answer is that until those deficits are substantially reduced, we can expect the recession to continue and actually get worse. That is, we cannot expect a recovery and we can expect the stock market to trend lower.
Source: Seeking Alpha (Sep 29, 2009 - 5:51 AM EDT)
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