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  • The explosion of the trade deficit supported bubbles in housing, Treasury prices and gold because our trading partners invest heavily in "safe assets such as Treasuries, agency debt and gold.http://research.stlouisfed.org/fred2/series/TCMDOhttp://research.stlouisfed.org/fred2/series/MZMhttp://research.stlouisfed.org/fred2/series/BOPBCAHistory shows that U.S. investors would rather invest in produ
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