[How Will It End?] Armstrong: Australia and the Current Account Deficit

[The End Is Near]

Australia and the Current Account Deficit

http://www.martinarmstrong.org/files/Australia%20&%20The%20Current%20Account%20Deficit%208-23-2010.pdf

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I have to say that this article does feel like it stopped halfway, and that I was waiting for the punchline. But it is an interesting article nonetheless.
Key Point: Having a current account deficit is nothing to worry, in fact it is a good thing, as capital account is in surplus, and that would keep the currency strong.
Key Point: Government data is all manipulated. "There is hardly a statistic worth quoting, for they have been manipulated so much, the very manipulators have begun to believe their own lies." (Armstrong).
Agree. US CPI data is so manipulated so much, it is not even worth mentioning.

Armstrong have written a lot of articles lately, and they should be read. Considering that all he has now is time. He is in prison for defrauding Japanese investors. But his brillance in economics is unquestionable.

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Posted By The End Is Near to How Will It End? at 9/01/2010 07:10:00 PM