I wondered, in my post entitled "Let's see if this story has legs," whether the alarm expressed by the US Comptroler General at the billowing deficits in US trade and federal budget, would find press coverage. Answer: No. Indeed, even Billmon, a sound reporter who's just finished covering the Davos conference, didn't remark on it in his departing post.
He did offer this cleverly incisive paragraph on the subject of America's excesses, however:
"The problem in trying to get a read on what's really going on -- and what kind of consensus is likely to emerge among the global power elite about the USA's vulnerability on the dollar-deficit question -- is the same as at every conference of this sort: The Americans say the sky is the limit, the Europeans say the sky is falling, and the Asians, whose views are in many ways the most important, say as little as possible."