"It follows that the country's current account deficit equals the excess of its investment over its saving."
Is he serious? This is just so wrong, it's hard to know where to start.
Doesn't he understand that just because money is spent doesn't mean it's spent as capital investment?
You could surely reality check this by assessing levels of capital investment and seeing how they've followed the deficit. Would anyone be silly enough to bet that there has been an explosion of capital investment to match the US trade deficit?
