You Can Safely Ignore Pundits Suffering from “Current Account Deficit Disorder”

As Milton Ezrati, Chief Economist with Lord Abbett & Company, noted in his December 27, 2004 commentary,1 many broadcast journalists are nearing apoplexy over the U.S. current account deficit.  And quite a few investment managers seem to have the same malady. 

We’ll show you why this agitation is needless.  In the process, we’ll examine three key issues you need to keep in mind as you attempt to understand today’s current account deficit:

  • Why the United States chronically runs a foreign deficit.
  • .....
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