Although little should be made of one month's data, the smaller pace of import decline in November is consistent with other recent data that suggest that U.S. economic activity may be stabilizing.
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European governments have a card they could play in the current crisis token assistance in the rebuilding of Iraq, which would largely stick the United States and the United Kingdom with the entire tab.Jay Bryson
Obviously they're getting a lot of flak from Congress and the Europeans as well. It was going to happen at some point anyway. It probably happened sooner than it would have if Congress and the administration hadn't said anything,
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It's not just China, it's not just oil. We spend more than we produce, end of story.
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When that happens, the dollar will begin to depreciate.
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I guess if there's any surprise it's that I would have thought exports would have grown a little more than they did. But in the second quarter everyone else had weaker economies, although more recent signs are that things abroad are picking up. So maybe June was too soon to look for an increase.
Jay Bryson
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