Friday, December 16

File Under "Unforeseen Consequences"

The Trade Deficit numbers were announced this morning. Surprisingly, the Trade Deficit was "only" $195.8 Million for the quarter, as opposed to $197.8 Million for the preceding quarter.

Why? Well foreign insurance companies had to send a lot of money to the Gulf Coast to pay hurricane related claims. If not for those claims, the current account deficit would have reached new records.

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