Economics of the madhouse.

The U.S. Census Bureau and the U.S. Bureau of Economic Analysis, through the Department of Commerce, announced today that total January exports of $114.4 billion and imports of $182.9 billion resulted in a goods and services deficit of $68.5 billion, $3.4 billion more than the $65.1 billion in December, revised. That’s trending to an annual USD$800 Billion.

January exports exceeded December exports of $111.6 Billion by USD$2.8 Billion.

January Imports exceeded December imports of $176.6 Billion by USD$6.2 Billion.

The FED Flow of Funds report was released today. It shows that household mortgage debt increased at a record pace in 2005.


On a dollar basis, household mortgage debt increased by a near record $290.6 Billion in the 4th quarter. The last 8 quarters (billions increase in household mortgages, Includes loans made under home equity lines of credit):

q1 2004: $190.4
q2 2004: $211.1
q3 2004: $277.1
q4 2004: $232.9
q1 2005: $184.5
q2 2005: $277.9
q3 2005: $314.1
q4 2005: $290.6

…Congress have yet to address raising the lending limit.
Recent blogs on same topic here