Jul 20, 2004 · The U.S. cannot sustain 800 bilion a year trade deficits. We cannot export our way out of this mess. The only answer is a sharply lower dollar to drive manufactruing home and to lower the trade deficit. The dollar has much farther to fall. What you are seeing is a long term effort (it will take 20 years) to get the trade deficit back under 1% ... Shares of Morgan Stanley rose 0.5% to 53.35 on Monday, under their 50-day line but above their 200-day line. The stock had cleared a 58.15 buy point of a flat base last month before sinking.
The Fed also acknowledged “emergency” lending totaling more than $2 trillion that it refuses to share details about, even after being ordered to do so by federal courts.