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October 20, 2005

Global imbalances, you ask? Thurs., Oct. 20, 2005, 8:45 PM

Here is the Cara Top Ten List of Global Imbalances:

10. See number 1
9. See number 1
8. Refco client-driven commodity prices and current unwinding
7. China's insatiable demand for natural resources
6. Residential real estate markets in many countries
5. Consumer indebtedness in the U.S.
4. European fiscal deficits (Germany, France and Italy)
3. Japan's trade surplus and rapid inbound investment of USD
2. China's trade surplus, rapid growth of USD reserves
1. The current account and fiscal deficits of the U.S. (the twin deficits")

Posted by Posted by Bill Cara on October 20, 2005 08:45:03 PM | Category: Cara Investment Reports

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