Unless the trade deficit shrinks, the combination of the trade deficit and the interest and dividend payments to foreigners will grow ever more rapidly.
More Quotes from Martin Feldstein:
It is certainly something to worry about. Continuing to attract funds when the current account deficit is that large and continuing to rise is bound to become a serious problem.Martin Feldstein
Domestic inflation reflects domestic monetary policy.
Martin Feldstein
A second reason why science cannot replace judgement is the behavior of financial markets.
Martin Feldstein
And when the dollar decline makes foreign travel much more expensive, I will do more of my vacation traveling in the United States.
Martin Feldstein
Even if the dollar does decline during the coming months, the delays in the response of exports and imports to the more competitive dollar will mean that the increase in aggregate demand from this source may not happen for a year or more.
Martin Feldstein
But because we in the United States finance our current account deficit by borrowing in our own currency, we can move to a more competitive dollar without the adverse effects that followed currency declines in other countries.
Martin Feldstein
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