Chapter 6. Is It Workable for Everyone to Invest in the United States?
The rate of return on investment in U.S. stocks and bonds since 1990 has been much higher than the rates of return on stocks and bonds in other countries. The dollar has also been strong for much of this time period, during which the United States has successfully attracted inflows of savings from many foreigners. Also, most Americans have chosen to put their savings into the U.S. financial system instead of investing abroad. This chapter addresses why U.S. financial investments have performed so well. It then examines whether all the world’s savers can put their money into U.S. financial assets and continue earning high, stable returns.
The discussion begins by showing that ...
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