The Chicken and the Egg, Part II

I meant to dive right into this second installment in my series on the U.S. current account deficit and its root causes (boy, THERE’s a topic to set the pulse racing) but various things intervened over the course of the week – including a few more late nights with my Excel spreadsheets, crunching the data.

I can’t say I’m any better informed than before I started, although I do have a keener awareness of the limitations of comparative international economic statistics – and of my own abilities as a macroeconomic deep thinker.