Traderfirstyear - (2) Investment Note How Covid19 will lead to persistent structural imbalances in the Global Trading System post Epidemic. The US Current Account Deficit in 2019 was a little under 2.5% of Real GDP (output), but fell to a low of 1.9% following the pandemic in Q1 of 2020. While some of this represented a faster fall off in imports of Goods relative to the pace of exports. It also represented a sharp fall in consumption and a rapid rise in US savings at both the Household and Corporate Levels. However, the net Savings will not offset the US Federal Government has a Net Debtor, which is likely to persist for the next decade. I am willing to make the argument. The US Current Account Deficit will continue to rise, expand, and grow back towards 2.5% of GDP throughout the course of 2020 & 2021. Why? Well, no matter how you slice it the investments climate in the US & the widening twin deficit will continue to Dollar Denominated Assets Globally Attractive $SPY $DIA $QQQ