Here is the list from 2005 (annotations as of today in brackets):
- Trade deficit
- Budget deficit caused by a growing government participation in the economy
- Current account deficit
- Employment
- Oil and energy induced inflation
- Education
- The nation will become a net food importer for the first time in history (Check MarketSkeptics.com)
- Two wars (Iraq, Afghanistan) without an exit strategy (add Pakistan)
- A changing political climate towards the Bush (now Obama) administration
- Housing bubble (now a prolonged bust)
- Interest rate conundrum (flattening yield curve and a complete lack of risk premiums)
- Consumer indebtedness
- Long-term weakness of the currency (in relation to gold)
- Widening income gap
1 comment
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03 June, 2012 20:49Post a Comment