Politics and Dharma

“When a nation becomes a debtor nation, this signals a fall of international stature, as evidenced by the fall of the Dutch Empire in the 1600s, the Spanish Empire in the 1700s, and the British Empire in the 1800s,” he said. 25 years ago the United States was the world’s largest lender nation by far. Today we owe more to other nations than the rest of the world combined. Almost 5 percent of our GDP flows into foreign hands every year, as reflected in our current account trade deficit of approximately $700 billion annually.

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