The US trade deficit hit a fresh high of $68bn (£36bn) in July, due to the cost of crude oil imports reaching a new record, official data has shown.
The figure was up 5% on June's deficit, and the gap for 2006 as a whole is now set to exceed 2005's record $717bn.
While US exports of goods and services fell 1.1% to $120bn in July, the Commerce Department said total imports rose 1% to $188bn.
Crude oil imports in July totalled $28.5bn, pushed up by high prices.
'Front page material' (!!!!!!!!)
Despite the overall increase in the gap between what the US imports and exports, its politically sensitive deficit with China declined slightly in July to $19.6bn.
However, the deficit with China is still on track to exceed last year's $202bn record level.
Tim Mazanec, senior currency strategist at Investors Bank & Trust in Boston, said that while the figures were undeniably hard-hitting, matters had since improved.
"It's front page material but at the same time, the numbers kind of bode well for future growth," he said.
"First everyone knows how crude prices have come off and that's a big portion of the entire trade."
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Well of course this is front page material! And even IF crude prices drop, the dumb Yanks just import more and produce less every year, so it's irrelevant. Jobs are going down the drain and the "great American way of life" is going down with it.
And just what is Bush the Prick doing about it? Why, he's fighting the "terrorists"! He's keeping you safe! He's fighting for democracy and jerking you all off while you smile and take it up the ass from the rest of his gang of liars.
It's all diversionary tactics you poor fools. Taking care of your own country and it's people is a tough job, that requires funtioning brain cells. It's just too difficult for him so he's decided to "fight for civillization". And you poor slobs get flushed further down the toilet every day. But why would the rest of the world care? Cause the Asshole is fucking with the rest of the world. Stick to your own country, Bush you Prick, and leave the rest of us alone. Try bringing Democracy, freedom and financial stability to your own country, and let everyone else run their own countries the way they see fit.
So...hope you feel safe you poor saps...while you collect your last paychecks and head for the unemployment line cause your plant has moved to China or Mexico.
I don't know about anyone else, but I'm...
sofedup
2006-09-12 16:08:34
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