Friday, March 11, 2005
January Trade Deficit
Jan. Trade Deficit reported $58.3B vs. consensus $56.8B. January's trade deficit was the second largest on record and could have been much bigger but for a little jiggleing with the average price for oil that we import. Seems the government came up with a price of $35.35 per barrel almost as low as July of 2004 of $33.28 per barrel. Now take a look at this weekly chart of Light Crude and tell me how "they" arrived at $35.35. I suspect next months trade deficit will be a record.
Mover Mike
