Helping the Cause
November 22nd, 2005 by BWV
Two weeks ago, the US Trade Deficit for September was announced.. a record $66 billion for one month. The monthly deficit has doubled since 2002, yet the US consumer has proven more resilient than ever thought possible.
This “overconsumption” issue — and the bust that’s sure to arrive any day now in housing and consumer spending — has been the cornerstone of the Bear case for many years now.
Well, it all hasn’t come crashing down yet. Permabears have missed many opportunities on the long side the last 3 years. But hell, even a broken clock is right twice a day.. so maybe the ursine bunch will ultimately be proven correct.. and the US economy really will crumble under this deficit.
If so..
It certainly won’t be the fault of a certain college buddy of mine.
During my trip to DC and Charlottesville last month, it was impossible not to notice the extraordinary measures he is taking to combat “consumer-ism.” Sacrificing for the greater good..
No cheap ass imported Chinese toothbrush holders for this guy!
Thanks for your patriotism !
