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we make no projection about continued US current account deficits but we believe they will continue far longer than anyone imagines. They are sustainable. They will be sustained until the rest of the world decides not to accumulate more Dollars and Americans decide they really do not want the cheap commodities and environment-destroying oil produced by the rest of the world.
Stone
America
Modern Money Theory: A Primer on Macroeconomics for Sovereign Monetary Systems
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