"Never in the history of modern economics has a large industrial country run persistent current account deficits of the magnitude posted by the U.S. since 2000."
A day of reckoning for what economists call our "current account deficit" is likely to arrive soon.
And the price will be paid in a currency drop that will significantly reduce domestic economic growth.
That's the conclusion of a study by NBER Research Associate Sebastian Edwards.
National Bureau of Economic Research, 23 January 2017
I reached the same conclusion in 2001...
Stein's Law: If something cannot go on for ever it will stop.