is this yank for real? good read

from:
http://www.trendmacro.com/a/luskin/20041115luskinSMC.asp

buffett is all wrong on the dollar.(part of)

Also, a trade deficit isn't necessarily a bad thing. We are not a nation of lazy grasshoppers. We are the wealthiest nation in history, whose economy is growing faster than most of the other developed economies in the world. We are so wealthy and so productive that we can afford to buy lots of things from overseas. In fact, note on the chart that the times when our trade deficit was, instead, a surplus have consistently corresponded with time of US economic weakness. Does anyone really want to go back to the recession of the early 1990s in order to have a trade surplus?

Our trading partners in other nations are certainly free to buy our many products with the money we pay them, if they wish to. But instead, they seem to want to invest that money in our securities markets. That's because they, being poorer than we, wish to save — and the best place to do that is by investing in America's rapid economic growth. We, in the meantime, can profit from their investment in us, using it as the capital necessary to make future growth possible. Everybody wins