1. International Financial Crises

2. Current Account: Net income earned overseas through trade, interest, dividends, profits, wages or gifts. (NFI +NX) Bureau of Economic Analysis Balance of Payments Table

3. Sources of Income

4. East Asian Crisis IMF World Economic Outlook Database

5. Private Savings: Disposable Income less Consumption. Public Savings: Budget Balance If Savings is insufficient to finance investment, funds must be made up from global sources. Capital Outflows = Domestic Savings – Domestic Investment

6. Capital account 39 Capital account transactions, net -152 Financial account 40 U.S.-owned assets abroad, excluding financial derivatives (increase/financial outflow (-)) -1005182 41 U.S. official reserve assets-1834 46 U.S. government assets, other than official reserve assets7540 50 U.S. private assets-1010888 55 Foreign-owned assets in the United States, excluding financial derivatives (increase/financial inflow (+)) 1245736 56 Foreign official assets in the United States349754 63 Other foreign assets in the United States895982 70 Financial derivatives, net 13735

7. Current account and capital account Public Savings GNI + Transfers -Household Consumption –Taxes Private Savings Taxes - Government Consumption-Transfers Savings – GCF GNI – Consumption – GCF NFI+GDP – Consumption – GCF NFI + NX