Word: debtors
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This spring the U.S. became a debtor nation for the first time since 1917. Raymond Dalio, a Connecticut-based economic consultant, estimates that the country's net foreign debt could grow to $1 trillion by 1990. At home, consumers remain hefty borrowers. Installment loans, which account for 22% of household borrowing, jumped 21.3% during the twelve months that ended last April, the largest gain since the 1950s...
...protest was reportedly directed at his high interest rates and pressures on Third World debtor nations...
...will America deal with these downturns? In the short run, we will be hindered by deficit-inflanted interest rates, which in turn have created an export-choking dollar, which is taking a hand in making the U.S. a net debtor...
...growing, is to Iacocca the most urgent danger facing the country. "I don't care what the cause of it is, I know the end result. I don't give a shit whether it's the strong dollar or what it is. At $123 billion we become a debtor nation of the worst order." More and more U.S. manufacturers, he fears, will build their factories abroad unless, for example, they are forced by domestic-content legislation to keep production Stateside. "And once they're invested," he says, "you can't pull them back. In the (capital) investment world, once...
...services, showed a record deficit of $101.6 billion last year, topping the previous peak of $41.6 billion in 1983. Foreigners have helped finance the trade deficit by investing heavily in the U.S. Because the inflow of foreign money far exceeds American investments abroad, the U.S. may have become a debtor nation in the first quarter of 1985 for the first time since World...