Published: Tuesday, Dec. 11 2012 12:45 p.m. MST
The trade deficit has less to do with our savings than the actions of the Fed.
There is no return on a savings account. A CD doesn't even keep up with
inflation.From a Washington point of view low interest rates are good. If
we returned to the old days when a passbook account paid 4% the interest on the
national debt would be huge. It's already up there with the defense
budget.Washington wants low interest. The Fed wants low interest. One
can hardly blame it all on the trade deficit.
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