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Summary
Yesterday, the Federal Reserved released the latest edition of its publication "Z.1," "Flow
of Funds Accounts of the United States." The most recent data are through the
quarter ended 6/30/05.
Based on the numbers, the United States came out of the second quarter owing
the rest of the world a stunning $5.2 trillion more than the rest of the world
owed it. This marked an increase of more than $600 billion from a year earlier.
Making these numbers even more horrific, though, is that as recently as roughly
20 years ago, the United States was still a net creditor nation. Continue to
Gillespie Research for the balance of the essay: http://www.gillespieresearch.com/cgi-bin/s/article/id=666
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Douglas R. Gillespie, Sr.
Gillespie Research Associates
165 Sheridan Avenue
HO-HO-KUS, NJ 07423
201-447-5743
Doug Gillespie oversees his own financial-market and economic
consulting firm, Gillespie Research
Associates. For a complimentary sample of Dougs material, e-mail him at drgillespiesr@aol.com.
Copyright © 2004-2005 Gillespie Research
Associates. All rights reserved.
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