Odds and Ends

Odds and Ends that the “talking heads” on the tube didn’t mention last night.

In World Trade News…
America’s Current-Account deficit hit $665.9 billion in 2004. That is a 25.5% increase over 2003’s numbers. Last week, America posted its second biggest monthly trade deficit in Goods and Services ever! $58.3 billion in January 2005. That included a 33% jump in its deficit in goods traded with China compared with January 2004. (Oh, Wal-Mart…what are you doing to us?)

Other World News…
Paul Wolfowitz (The man behind the war in Iraq)
Bush nominates him to head up the World Bank, although “Wolfie” is neither an economist nor a banker.

Oil News…
Best guess for the number of barrels of oil to be found under the Arctic National Wildlife Refuge is 10 billion. The US currently imports and uses 10 million barrels per day. At the very peak of production, it is estimated that ANWR oil will amount to 1 million barrels a day. Translation: Don’t look for Alaskan oil to change the price at the pump!