On Mon, 6 Sep 1999, Paul Cockshott wrote:
> Are the current monetary inflows to the USA from abroad
> greater or less than the net us capital accumulation?
> What I want to know is whether the inflows are funding
> accumulation or just an increase in indebtedness.
Some U.S. figures for 1999 Q1 (all in billions of 1992 dollars):
Nonresidential Investment, $1012
Private Fixed Investment, $1344
Exports - Imports, $303
Meanwhile the personal saving rate is about -1 percent, so
that personal saving is on the order of -$50b.
Looks to me as if the inflows are financing accumulation.
Total "Real Private Investment" has been rising almost
monotonically from a low of 12 percent of GDP in the 1990
recession to a current figure of about 18 percent.
(Numbers from National Economic Trends, Federal Reserve Bank of
St Louis, July 1999.)
This archive was generated by hypermail 2b29 : Sun Feb 27 2000 - 15:27:08 EST