The New Year resolutions have gone stale and there’s a risk reality-life will set in before we’re even back at work. So let’s look on the bright side and imagine some good things for 2004.
Let’s first wish American consumers a happy year. On them we depend.
They are running a deficit in their household accounts and piling debt on debt. So are the local, state and federal governments. So is the United States as a whole in its balance of payments current account.