Thursday, August 11, 2011

Trade Deficit of U.S. Unexpectedly Widens to $53.1 Billion on Export Slump

Every month, our economy bleeds $53.1 Billion dollars. There's only one way to keep cash circulating with a trade deficit like this: print more. But this devalues the currency, causing prices to rise. A collapse is inevitable.

    Bloomberg -

    The U.S. trade deficit unexpectedly increased in June to the highest level since October 2008 as a slump in exports exceeded a decline in shipments from overseas.

    The gap widened 4.4 percent to $53.1 billion from $50.8 billion in the prior month, Commerce Department figures showed today in Washington. The deficit exceeded all estimates in a Bloomberg News survey of economists in which the median was $48 billion. Exports declined the most since January 2009.

    U.S. shipments of capital equipment and industrial supplies fell in June, which may reflect the start of a cooling in the global economy. Some companies like Caterpillar Inc. (CAT) remain optimistic that demand for American-made goods will be sustained, helped in part by a weaker dollar.

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