US Trade Deficit At All Time High

The US Trade deficit has reached a new, all-time high, mainly fed by America's demand for foreign oil. The new trade deficit is now over $225 billion, reflecting a 3% increase in the latest quarter.

The current account deficit is expected to hit a new record for the full year, far surpassing last year's $791.5 billion imbalance even though the shortfall for the fourth quarter is likely to show an improvement, reflecting the drop in oil prices after hitting records this summer

The good news is that we may have seen the last of increases, as long as oil prices keep drifting downward.