How massive is the trade deficit problem, suggesting further dollar devaluation?
*Financial Times, by Reuters, February 13, 2007
“The U.S. trade deficit widened more than expected in December and grew 6.5 per cent during all of 2006 to a record $763.6 billion, a U.S. Commerce Department report showed on Tuesday.
The monthly trade gap totaled $61.2 billion, up 5.3 percent from November as oil prices rebounded and Americans imported record amounts of consumer goods and autos and auto parts.
The December shortfall exceeded the median forecast of $59.5 billion made by Wall Street analysts surveyed before the report. It also marked the tenth time in 2006 that the monthly deficit exceeded $60 billion.”
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