Why Trade Deficits Don't Matter, and Other Knocks to Common Wisdom

Nice job by our friends over at Hard Assets Investor with a great interview of Marc Chandler, who is head of currency strategy at Brown Brothers Harriman.

About 8-minutes in running time, and I'd say definitely worth a watch. Chandler has some interesting (dare I say - contrarian?) views on:

• Trade deficits - they don't really matter any more
• Prosperity in the US is actually increasing, despite what mainstream reports say
• Socialism vs. Capitalism - the US and Europe are more closely aligned than commonly believed, even before the crisis

You can watch the full interview here.

I just added Chandler's book to my reading list - will do a review afterwards in this space.