Mark Tomlinson

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Monday, August 22, 2005

Catastrophic Illusion in Washington :: AO

Catastrophic Illusion in Washington :: AO: "So there is this terrible misconception, this catastrophic illusion in Washington that somehow a trade gap is bad and implies indebtedness to foreigners—dangerous indebtedness to foreigners—and it is just a completely false view of the world that comes from an era when economies were separate and traded with one another across borders, and accounts were settled by clipper ships carrying gold across treacherous seas alluding pirates."

There is a snippet to pique your interest. The entire article is a good read.