The US cannot not run trade deficits, says James Galbraith

And he is right. If you're the provider of the global unit of account and main reserve currency, there is no other way than to run deficits. The hegemon must provide global demand, and the risk free asset to the global economy.

For the whole interview go here.


Popular posts from this blog

A brief note on Venezuela and the turn to the right in Latin America

A few brief comments on Brexit and the postmortem of the European Union