Quote, Unquote

What determines whether a country runs a surplus or a deficit? The factors are interrelated. As a country’s currency appreciates, its goods become more expensive abroad and foreign goods become cheaper at home, incentivizing more imports and fewer exports, and thus pushing the current account toward deficit. Depreciation has the opposite effect.
~ Michael Starr via American Affairs

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General John W. Vessey Jr. was born
on this day in 1922

John W. Vessey Jr. – the American four-star general who served as the 10th Chairman of the Joint Chiefs of Staff and the 10th Vice Chief of Staff of the Army – was born on this day – June 29, 1922 – in Minneapolis, Minnesota.

He was a graduate of the University of Maryland, George Washington University, and the National War College.

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